Quarterly report pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT

v3.23.2
PROPERTY AND EQUIPMENT
 6 Months Ended
Jun. 30, 2023
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT

NOTE 2 – PROPERTY AND EQUIPMENT

 

Property and equipment consist of the following:

 

   

June 30, 2023

(Unaudited)

    

December 31,

2022

  
Production tooling, jigs, fixtures   $ 71     $ 71  
Shop equipment and machinery     3,565       3,371  
Vehicles     177       177  
Leasehold improvements     390       390  
Office equipment     185       185  
Software     106       106  
Total property and equipment, cost     4,494       4,300  
Less: accumulated depreciation and amortization     (3,989 )     (3,762 )
Property and equipment, net   $ 505     $ 538  

 

Depreciation and amortization expense on property and equipment for the three months ended June 30, 2023 and 2022 was $110 and $129, respectively. During the three months ended June 30, 2023 and 2022, $125 and $125, respectively, of the depreciation expense was included in cost of sales.

 

Depreciation and amortization expense on property and equipment for the six months ended June 30, 2023 and 2022 was $226 and $264, respectively. During the six months ended June 30, 2023 and 2022, $220 and $255, respectively, of the depreciation expense was included in cost of sales.