Quarterly report pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT

v3.19.1
PROPERTY AND EQUIPMENT
 3 Months Ended
Mar. 31, 2019
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT

NOTE 3 – PROPERTY AND EQUIPMENT

 

Property and equipment consist of the following:

 

   

March 31, 

2019

(Unaudited) 

    

December 31, 

2018

 

  
Production tooling, jigs, fixtures   $ 70,749     $ 70,749  
Shop equipment and machinery     2,938,085       2,808,928  
Vehicles     188,597       188,597  
Leasehold improvements     340,660       276,901  
Office equipment     134,995       134,995  
Software     102,690       102,690  
Total property and equipment, cost     3,775,776       3,582,860  
Less: accumulated depreciation and amortization     (1,603,364 )     (1,460,103 )
Property and equipment, net   $ 2,172,412     $ 2,122,757  

 

Depreciation and amortization expense on property and equipment for the three months ended March 31, 2019 and March 31, 2018 was $143,261 and $76,350, respectively. During the three months ended March 31, 2019 and March 31, 2018, $133,774 and $67,619, respectively, of the depreciation expense was included in the balance of cost of sales.