Quarterly report pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT

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PROPERTY AND EQUIPMENT
3 Months Ended
Mar. 31, 2014
Property And Equipment  
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