Quarterly report pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT

v3.22.1
PROPERTY AND EQUIPMENT
3 Months Ended
Mar. 31, 2022
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT

NOTE 4 – PROPERTY AND EQUIPMENT

 

Property and equipment was comprised of the following:

 

    March 31,
2022
    December 31,
2021
 
             
Field and shop equipment   $ 578,000     $ 553,200  
Vehicles     72,500       72,500  
Waste destruction equipment, placed in service     553,300       553,300  
Furniture and office equipment     345,800       342,400  
Leasehold improvements     36,200       36,200  
Building and improvements     21,200       21,200  
Land     162,900       162,900  
Property and equipment, gross     1,769,900       1,741,700  
Less: accumulated depreciation and amortization     (1,333,400 )     (1,308,700 )
Property and equipment, net   $ 436,500     $ 433,000  

 

Depreciation expense for the three months ended March 31, 2022, and 2021 was $24,800 and $26,500, respectively. For the three months ended March 31, 2022, and 2021, depreciation expense included in cost of goods sold was $18,400 and $20,100, respectively. For the three months ended March 31, 2022, and 2021, depreciation expense included in selling, general and administrative expenses was $6,400 and $6,400, respectively.

 

Depreciation expense on leased CoronaLux™ units included in depreciation and amortization above is $0 as of March 31, 2022, and 2021, respectively.

 

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

 

    March 31,     December 31,  
    2022     2021  
Vehicles, field and shop equipment   $ 10,200     $ 10,200  
Less: accumulated amortization     (10,200 )     (10,200 )
Property and equipment for lease capitalized   $ -     $ -