Quarterly report pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT

v3.23.1
PROPERTY AND EQUIPMENT
 3 Months Ended
Mar. 31, 2023
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT

NOTE 2 – PROPERTY AND EQUIPMENT

 

Property and equipment consist of the following:

 

   

March 31, 2023

    

December 31, 2022

  
    (Unaudited)        
Production tooling, jigs, fixtures   $ 71     $ 71  
Shop equipment and machinery     3,371       3,371  
Vehicles     177       177  
Leasehold improvements     390       390  
Office equipment     185       185  
Software     106       106  
Total property and equipment, cost     4,300       4,300  
Less: accumulated depreciation and amortization     (3,879 )     (3,762 )
Property and equipment, net   $ 421     $ 538  

 

Depreciation and amortization expense on property and equipment for the three months ended March 31, 2023 and 2022 was $116 and $135, respectively. During the three months ended March 31, 2023 and 2022, $113 and $130, respectively, of the depreciation expense was included in the balance of cost of sales.