Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

v3.23.3
Property and Equipment
 9 Months Ended
Sep. 30, 2023
Property and Equipment [Abstract]  
PROPERTY AND EQUIPMENT

NOTE 5 – PROPERTY AND EQUIPMENT

 

On September 30, 2023 and December 31, 2022, property and equipment consisted of the following: 

 

    Useful Life   September 30,
2023		     December 31,
2022		  
Machinery and equipment   5 – 7 years   $ 73,411     $ 124,133  
Furniture and office equipment   3 – 7 years     2,061       32,306  
Vehicles   1 – 5 years     68,050       62,195  
Leasehold improvements   3 – 5 years     110,645       45,296  
          254,167       263,930  
Less: accumulated depreciation         (70,281 )     (167,624 )
Property and equipment, net       $ 183,886     $ 96,306  

 

For the nine months ended September 30, 2023 and 2022, depreciation expense is included in general and administrative expenses and amounted to $26,075 and $30,352, respectively.