Quarterly report pursuant to Section 13 or 15(d)

NOTE 3 - PROPERTY AND EQUIPMENT

NOTE 3 - PROPERTY AND EQUIPMENT

9 Months Ended

Sep. 30, 2014

Property, Plant and Equipment [Abstract]

NOTE 3 - PROPERTY AND EQUIPMENT

Property and equipment was comprised of the following:

	September 30, 2014	December 31, 2013
Field and shop equipment	$ 1,541,300	$ 1,361,100
Vehicles	522,200	516,700
Waste destruction equipment	1,049,100	164,900
Waste destruction equipment in progress	2,200,900	542,500
Furniture and office equipment	173,900	27,500
Leasehold improvements	65,400	55,500
Equipment, construction in progress	-	30,600
	5,552,800	2,698,800
Less: accumulated depreciation and amortization	(1,210,400)	(935,900)
Property and equipment, net	$ 4,342,400	$ 1,762,900

Depreciation expense and amortization of property and equipment was $101,000 and $74,500, respectively, for the three months ended September 30, 2014 and 2013 and was $274,300 and $212,000, respectively, for the nine months ended September 30, 2014 and 2013.

NOTE 3 - PROPERTY AND EQUIPMENT, continued

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

	September 30,	December 31,
	2014	2013
Field and shop equipment	$ 131,500	$ 131,500
Less: accumulated amortization	(51,200)	(27,000)
	$ 80,300	$ 104,500

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

+ References + Details