Quarterly report [Sections 13 or 15(d)]

PROPERTY AND EQUIPMENT

v3.25.2
PROPERTY AND EQUIPMENT
3 Months Ended
Mar. 31, 2025
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT

NOTE 4 – PROPERTY AND EQUIPMENT

 

Property and equipment was comprised of the following:

 

   

March 31,

2025

   

December 31,

2024

 
    (unaudited)     *  
Field and shop equipment   $ 397,600     $ 397,600  
Vehicles     72,500       72,500  
Furniture and office equipment     275,400       274,600  
Leasehold improvements     36,200       36,200  
Property and equipment, gross     781,700       780,900  
Less: accumulated depreciation and amortization     (739,800 )     (736,900 )
Property and equipment, net   $ 41,900     $ 44,000  

 

Depreciation expense for both the three months ended March 31, 2025, and 2024 was $2,900. For the three months ended March 31, 2025, and 2024, depreciation expense included in cost of goods sold was $1,900 and $2,000, respectively. For the three months ended March 31, 2025, and 2024, depreciation expense included in selling, general and administrative expenses was $1,100 and $900, respectively.