Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

v3.19.3
Property and Equipment
9 Months Ended
Sep. 30, 2019
Property, Plant and Equipment [Abstract]  
Property and Equipment

NOTE 4 – PROPERTY AND EQUIPMENT

 

Property and equipment was comprised of the following:

 

    September 30,
2019
    December 31,
2018
 
Field and shop equipment   $ 2,225,300     $ 2,272,100  
Vehicles     689,700       690,000  
Waste destruction equipment, placed in service     557,100       557,100  
Furniture and office equipment     356,400       312,400  
Leasehold improvements     46,200       10,000  
Building and improvements     21,200       21,200  
Land     162,900       162,900  
      4,058,800       4,025,700  
Less: accumulated depreciation and amortization     (3,407,100 )     (3,193,800 )
Property and equipment, net   $ 651,700     $ 831,900  

 

Depreciation expense for the three months ended September 30, 2019 and 2018 was $73,100 and $88,800, respectively. Depreciation expense for the nine months ended September 30, 2019 and 2018 was $247,100 and $318,100, respectively. For the three months ended September 30, 2019 depreciation expense included in cost of goods sold was $51,200 and $70,700 respectively. For the three months ended September 30, 2018 depreciation expense included in selling, general and administrative expenses was $22,000 and $18,100 respectively. For the nine months ended September 30, 2019 depreciation expense included in cost of goods sold was $187,700 and $263,100 respectively. For the nine months ended September 30, 2018 depreciation expense included in selling, general and administrative expenses was $59,400 and $54,900 respectively.

 

Accumulated depreciation on leased CoronaLux™ units included in accumulated depreciation and amortization above is $304,700 and $298,100 as of September 30, 2019 and 2018, respectively.

 

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

 

    September 30,     December 31,  
    2019     2018  
Vehicles, field and shop equipment   $ 370,900     $ 407,100  
Less: accumulated amortization     (304,700 )     (298,100 )
    $ 66,200     $ 109,000