Quarterly report pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT

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

NOTE 5 – PROPERTY AND EQUIPMENT

 

Property and equipment was comprised of the following:

 

    September 30, 2021     December 31, 2020  
    (Unaudited)        
Field and shop equipment   $ 599,600     $ 1,282,700  
Vehicles     72,500       476,900  
Waste destruction equipment, placed in service     553,300       553,300  
Furniture and office equipment     342,400       345,700  
Leasehold improvements     36,200       36,200  
Building and improvements     21,200       21,200  
Land     162,900       162,900  
Property and equipment, gross     1,788,100       2,878,900  
Less: accumulated depreciation and amortization     (1,317,100 )     (2,330,900 )
Property and equipment, net   $ 471,000     $ 548,000  

 

Depreciation expense for the three months ended September 30, 2021, and 2020 was $26,800 and $33,700, respectively. For the three months ended September 30, 2021, and 2020, depreciation expense included in cost of goods sold was $20,400 and $26,500, respectively. For the three months ended September 30, 2021, and 2020, depreciation expense included in selling, general and administrative expenses was $6,400 and $7,200, respectively.

 

Depreciation expense for the nine months ended September 30, 2021, and 2020 was $80,000 and $107,600, respectively. For the nine months ended September 30, 2021, and 2020, depreciation expense included in cost of goods sold was $60,700 and $72,200, respectively. For the nine months ended September 30, 2021, and 2020, depreciation expense included in selling, general and administrative expenses was $19,300 and $35,300, respectively.

 

Depreciation expense on leased CoronaLux™ units included in depreciation and amortization above is $0 and $29,200 as of September 30, 2021, and 2020, respectively.

 

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

 

    September 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   $ -     $ -