Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

v3.20.2
Property and Equipment
 9 Months Ended
Sep. 30, 2020
Property, Plant and Equipment [Abstract]  
Property and Equipment

NOTE 4 – PROPERTY AND EQUIPMENT

 

Property and equipment was comprised of the following:

 

    September 30, 2020     December 31, 2019  
Field and shop equipment   $ 2,130,100     $ 2,240,700  
Vehicles     773,900       689,700  
Waste destruction equipment, placed in service     557,100       557,100  
Furniture and office equipment     346,300       346,300  
Leasehold improvements     36,200       36,300  
Building and improvements     21,200       21,200  
Land     162,900       162,900  
      4,027,700       4,054,200  
Less: accumulated depreciation and amortization     (3,442,000 )     (3,492,400 )
Property and equipment, net   $ 585,700     $ 561,800  

 

Depreciation expense for the three months ended September 30, 2020 and 2019 was $33,700 and $73,100, respectively. For the three months ended September 30, 2020 and 2019, depreciation expense included in cost of goods sold was $26,500 and $51,200, respectively. For the three months ended September 30, 2020 and 2019, depreciation expense included in selling, general and administrative expenses was $7,200 and $22,000, respectively.

 

Depreciation expense for the nine months ended September 30, 2020 and 2019 was $107,600 and $247,100, respectively. For the nine months ended September 30, 2020 and 2019, depreciation expense included in cost of goods sold was $72,200 and $187,700, respectively. For the nine months ended September 30, 2020 and 2019, depreciation expense included in selling, general and administrative expenses was $35,300 and $59,400, respectively.

 

Depreciation expense on leased CoronaLux™ units included in depreciation and amortization above is $29,200 and $39,800 as of September 30, 2020 and 2019, respectively.

 

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

 

    September 30,     December 31,  
    2020     2019  
Vehicles, field and shop equipment   $ 157,900     $ 370,900  
Less: accumulated amortization     (143,700 )     (316,300 )
    $ 14,200     $ 54,600