Quarterly report pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT

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PROPERTY AND EQUIPMENT
 6 Months Ended
Jun. 30, 2021
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT

NOTE 5 – PROPERTY AND EQUIPMENT

 

Property and equipment was comprised of the following:

 

    June 30, 2021     December 31, 2020  
      (Unaudited)          
Field and shop equipment   $ 1,246,400     $ 1,282,700  
Vehicles     407,800       476,900  
Waste destruction equipment, placed in service     553,300       553,300  
Furniture and office equipment     348,700       345,700  
Leasehold improvements     36,200       36,200  
Building and improvements     21,200       21,200  
Land     162,900       162,900  
Property and equipment, gross     2,776,500       2,878,900  
Less: accumulated depreciation and amortization     (2,278,700 )     (2,330,900 )
Property and equipment, net   $ 497,800     $ 548,000  

 

Depreciation expense for the three months ended June 30, 2021, and 2020 was $26,600 and $37,900, respectively. For the three months ended June 30, 2021, and 2020, depreciation expense included in cost of goods sold was $20,300 and $24,600, respectively. For the three months ended June 30, 2021, and 2020, depreciation expense included in selling, general and administrative expenses was $6,500 and $13,300, respectively.

 

Depreciation expense for the six months ended June 30, 2021, and 2020 was $53,200 and $73,900, respectively. For the six months ended June 30, 2021, and 2020, depreciation expense included in cost of goods sold was $40,400 and $45,700, respectively. For the six months ended June 30, 2021, and 2020, depreciation expense included in selling, general and administrative expenses was $12,900 and $28,200, respectively.

 

Depreciation expense on leased CoronaLux™ units included in depreciation and amortization above is $0 and $19,400 as of June 30, 2021, and 2020, respectively.

 

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

 

    June 30, 2021     December 31, 2020  
     

(Unaudited)

          
Vehicles, field and shop equipment   $ 10,200     $ 10,200  
Less: accumulated amortization     (10,200 )     (10,200 )
Property and equipment for leases capitalized   $ -     $ -