Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

v3.23.1
Property and Equipment
 3 Months Ended
Mar. 31, 2023
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT

NOTE 5 – PROPERTY AND EQUIPMENT

 

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

 

    Useful Life   March 31,
2023		     December 31,
2022		  
Machinery and equipment   5 – 7 years   $ 124,133     $ 124,133  
Furniture and office equipment   3 – 7 years     32,306       32,306  
Vehicles   1 – 5 years     62,195       62,195  
Leasehold improvements   3 – 5 years     45,296       45,296  
          263,930       263,930  
Less: accumulated depreciation         (175,848 )     (167,624 )
Property and equipment, net       $ 88,082     $ 96,306  

 

For the three months ended March 31, 2023 and 2022, depreciation expense is included in general and administrative expenses and amounted to $8,224 and $10,284, respectively.