Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

v3.24.3
Property and Equipment
 9 Months Ended
Sep. 30, 2024
Property and Equipment [Abstract]  
PROPERTY AND EQUIPMENT

NOTE 5 – PROPERTY AND EQUIPMENT

 

On September 30, 2024 and December 31, 2023, property and equipment consisted of the following: 

 

    Useful Life   September 30,
2024		     December 31,
2023		  
Machinery and equipment   5 – 7 years   $ 73,411     $ 73,411  
Furniture and office equipment   3 – 7 years     2,061       2,061  
Vehicles   1 – 5 years     110,207       68,050  
Leasehold improvements   3 – 5 years     110,645       110,645  
          296,324       254,167  
Less: accumulated depreciation         (119,788 )     (82,561 )
Property and equipment, net       $ 176,536     $ 171,606  

 

For the nine months ended September 30, 2024 and 2023, depreciation expense was included in general and administrative expenses and amounted to $37,227 and $26,075, respectively.