| PROPERTY AND EQUIPMENT |
NOTE 3 - PROPERTY AND EQUIPMENT
Property and equipment was comprised of the
following:
| |
|
March 31,
2014 |
|
|
December 31,
2013
|
|
| |
|
|
|
|
|
|
| Field and shop equipment |
|
$ |
1,454,600 |
|
|
$ |
1,361,100 |
|
| Vehicles |
|
|
516,700 |
|
|
|
516,700 |
|
| Waste destruction equipment |
|
|
164,900 |
|
|
|
164,900 |
|
| Waste destruction equipment in progress |
|
|
1,179,300 |
|
|
|
542,500 |
|
| Furniture and office equipment |
|
|
102,900 |
|
|
|
27,500 |
|
| Leasehold improvements |
|
|
65,400 |
|
|
|
55,500 |
|
| Equipment, construction in progress |
|
|
— |
|
|
|
30,600 |
|
| |
|
|
3,483,800 |
|
|
|
2,698,800 |
|
| Less: accumulated depreciation and amortization |
|
|
(1,007,800 |
) |
|
|
(935,900 |
) |
| Property and equipment, net |
|
$ |
2,476,000 |
|
|
$ |
1,762,900 |
|
Depreciation expense and amortization of leasehold
improvements was $93,100 and $65,600, respectively, for the three months ended March 31, 2014 and 2013.
Property and equipment included the following
amounts for leases that have been capitalized at:
| |
|
March 31, |
|
|
December 31, |
|
| |
|
2014 |
|
|
2013 |
|
| Field and shop equipment |
|
$ |
241,500 |
|
|
$ |
241,500 |
|
| Less: accumulated amortization |
|
|
(30,500 |
) |
|
|
(27,000 |
) |
| |
|
$ |
211,000 |
|
|
$ |
214,500 |
|
|