General form of registration statement for all companies including face-amount certificate companies

Property and Equipment

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Property and Equipment
 9 Months Ended 12 Months Ended
Sep. 30, 2018
Dec. 31, 2017
Property, Plant and Equipment [Abstract]    
PROPERTY AND EQUIPMENT

NOTE 5 - PROPERTY AND EQUIPMENT

 

At September 30, 2018 and December 31, 2017, property and equipment consisted of the following:

 

    Useful Life   2018     2017  
                 
Machinery and equipment   5 - 7 years   $ 52,538     $ 52,538  
Furniture and office equipment   3 - 7 years     45,063       45,063  
Vehicles   5 years     68,341       68,341  
Leasehold improvements   3 years     16,701       16,701  
          182,643       182,643  
Less: accumulated depreciation         (117,457 )     (91,520 )
Property and equipment, net       $ 65,186     $ 91,123  

 

For the nine months ended September 30, 2018 and 2017, depreciation and amortization expense is included in general and administrative expenses and amounted to $25,937 and $28,372, respectively. 

NOTE 5 – PROPERTY AND EQUIPMENT

 

At December 31, 2017 and 2016, property and equipment consisted of the following:

 

    Useful Life   2017     2016  
                 
Machinery and equipment   5 - 7 years   $ 52,538     $ 49,084  
Furniture and office equipment   3 - 7 years     45,063       45,063  
Vehicles   5 years     68,341       68,341  
Leasehold improvements   3 years     16,701       16,701  
          182,643       179,189  
Less: accumulated depreciation         (91,520 )     (53,225 )
Property and equipment, net       $ 91,123     $ 125,964  

 

For the years ended December 31, 2017 and 2016, depreciation and amortization expense is included in general and administrative expenses and amounted to $38,295 and $34,545, respectively.