Quarterly report pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT

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PROPERTY AND EQUIPMENT
 3 Months Ended
Mar. 31, 2018
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT

NOTE 3 – PROPERTY AND EQUIPMENT

 

Property and equipment consist of the following:

 

   

March 31, 

2018 

(Unaudited) 

    

December 31, 

2017

  
Production tooling, jigs, fixtures   $ 70,749     $ 70,749  
Shop equipment and machinery     1,495,633       1,451,423  
Vehicles     122,264       122,264  
Leasehold improvements     42,173       42,173  
Office equipment     121,399       114,454  
Software     101,441       97,533  
Total property and equipment, cost     1,953,659       1,898,596  
Less: accumulated depreciation and amortization     (1,150,870 )     (1,074,520 )
Property and equipment, net   $ 802,789     $ 824,076  

 

Depreciation and amortization expense on property and equipment for the three months ended March 31, 2018 and March 31, 2017 was $76,350 and $59,174, respectively. During the three months ended March 31, 2018 and March 31, 2017, $67,619 and $51,440, respectively, of the depreciation expense was included in the balance of cost of sales.