| PROPERTY AND EQUIPMENT |
NOTE
3 - PROPERTY AND EQUIPMENT
Property
and equipment was comprised of the following:
| |
|
June
30,
2015 |
|
December
31,
2014 |
| |
|
|
|
|
| Field
and shop equipment |
|
$ |
2,042,100 |
|
|
$ |
1,690,900 |
|
| Vehicles |
|
|
750,800 |
|
|
|
672,300 |
|
| Waste
destruction equipment, leased |
|
|
1,213,000 |
|
|
|
1,145,600 |
|
| Waste
destruction equipment, not placed in service |
|
|
2,376,800 |
|
|
|
2,325,900 |
|
| Furniture
and office equipment |
|
|
308,500 |
|
|
|
291,300 |
|
| Leasehold
improvements |
|
|
65,400 |
|
|
|
65,400 |
|
| |
|
|
6,756,600 |
|
|
|
6,191,400 |
|
| Less:
accumulated depreciation and amortization |
|
|
(1,595,800 |
) |
|
|
(1,342,600 |
) |
| Property
and equipment, net |
|
$ |
5,160,800 |
|
|
$ |
4,848,800 |
|
| |
|
Three
Months Ended |
|
Six
Months Ended |
| |
|
June
30, 2015 |
|
June
30, 2014 |
|
June
30, 2015 |
|
June
30, 2014 |
| |
|
|
|
|
|
|
|
|
| Cost
of Goods Sold |
|
$ |
106,900 |
|
|
$ |
93,100 |
|
|
$ |
213,900 |
|
|
$ |
159,100 |
|
| General
& Administrative |
|
|
19,600 |
|
|
|
8,400 |
|
|
|
39,300 |
|
|
|
13,900 |
|
| Total
Depreciation Expense |
|
$ |
126,500 |
|
|
$ |
101,500 |
|
|
$ |
253,200 |
|
|
$ |
173,000 |
|
Accumulated
depreciation on leased waste destruction equipment included in accumulated depreciation and amortization above is $4 and $48,400
as of June 30, 2015 and December 31, 2014.
Property
and equipment included the following amounts for leases that have been capitalized at:
| |
|
June 30, |
|
December 31, |
| |
|
2015 |
|
2014 |
| |
|
|
|
|
| Vehicles,
field and shop equipment |
|
$ |
462,700 |
|
|
$ |
229,400 |
|
| Less:
accumulated amortization |
|
|
(98,700 |
) |
|
|
(36,800 |
) |
| |
|
$ |
364,000 |
|
|
$ |
192.600 |
|
|