Annual report pursuant to Section 13 and 15(d)

Property and Equipment

v3.22.1
Property and Equipment
 12 Months Ended
Dec. 31, 2021
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT

NOTE 6 – PROPERTY AND EQUIPMENT

 

On December 31, 2021 and 2020, property and equipment consisted of the following: 

 

    Useful Life   December 31,
2021		     December 31,
2020		  
                 
Machinery and equipment   5 - 7 years   $ 124,133     $ 50,722  
Furniture and office equipment   3 - 7 years     32,306       30,245  
Vehicles   1 - 5 years     63,009       55,941  
Leasehold improvements   3 - 5 years     45,296       16,701  
          264,744       153,609  
Less: accumulated depreciation         (129,722 )     (134,926 )
Property and equipment, net       $ 135,022     $ 18,683  

 

During the year ended December 31, 2021, the Company sold a vehicle for proceeds of $13,000 and record a gain on sale of property and equipment of $13,000 which is included in general and administrative expenses on the accompanying consolidated statement of operations. For the years ended December 31, 2021 and 2020, depreciation and amortization expense is included in general and administrative expenses and amounted to $23,872 and $14,093, respectively.