Quarterly report pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT

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PROPERTY AND EQUIPMENT
3 Months Ended
Mar. 31, 2019
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT

NOTE 4 - PROPERTY AND EQUIPMENT

 

Property and equipment was comprised of the following:

 

    March 31, 2019     December 31, 2018  
Field and shop equipment   $ 2,272,100     $ 2,272,100  
Vehicles     690,000       690,000  
Waste destruction equipment, placed in service     557,100       557,100  
Furniture and office equipment     327,300       312,400  
Leasehold improvements     10,000       10,000  
Building and improvements     21,200       21,200  
Land     162,900       162,900  
      4,040,600       4,025,700  
                 
Less: accumulated depreciation and amortization     (3,294,500 )     (3,193,800 )
   Property and equipment, net   $ 746,100     $ 831,900  

 

Depreciation expense for the three months ended March 31, 2019 and 2018 was $100,700 and $133,000, respectively. For the three months ended March 31, 2019 depreciation expense included in cost of goods sold and selling, general and administrative expenses was $83,400 and $17,300 respectively. For the three months ended March 31, 2018 depreciation expense included in cost of goods sold and selling, general and administrative expenses was $114,500 and $18,500 respectively.

 

Accumulated depreciation on leased CoronaLux™ units included in accumulated depreciation and amortization above is $312,200 and $247,000 as of March 31, 2019 and 2018, respectively.

 

Property and equipment included the following amounts for leases that have been capitalized at:

 

    March 31, 2019     December 31 2018  
Vehicles, field and shop equipment   $ 407,100     $ 407,100  
Less: accumulated amortization     (312,200 )     (298,100 )
    $ 94,900     $ 109,000