Quarterly report pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT

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PROPERTY AND EQUIPMENT
 9 Months Ended
Sep. 30, 2017
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT

NOTE 3 – PROPERTY AND EQUIPMENT

 

Property and equipment consist of the following:

 

   

September 30,

2017

 (Unaudited)

    

December 31,

2016

  
Production tooling, jigs, fixtures   $ 70,749     $ 70,749  
Shop equipment and machinery     1,344,391       1,193,892  
Vehicles     83,781       51,883  
Leasehold improvements     42,173       42,173  
Office equipment     100,245       100,245  
Software     97,533       97,533  
Total property and equipment, cost     1,738,872       1,556,475  
Less: accumulated depreciation and amortization     (1,004,647 )     (818,889 )
Property and equipment, net   $ 734,225     $ 737,586  

 

Depreciation and amortization expense on property and equipment for the three months ended September 30, 2017 and September 30, 2016 was $65,678 and $57,430, respectively. During the three months ended September 30, 2017 and September 30, 2016, $58,057 and $49,979, respectively, of the depreciation expense was included in the balance of cost of sales.

  

Depreciation and amortization expense on property and equipment for the nine months ended September 30, 2017 and September 30, 2016 was $185,758 and $154,010, respectively. During the nine months ended September 30, 2017 and September 30, 2016, $162,729 and $135,000, respectively, was included in the balance of cost of sales.