Quarterly report pursuant to Section 13 or 15(d)

Property And Equipment, Net

v3.19.1
Property And Equipment, Net
 3 Months Ended
Mar. 31, 2019
Notes to Financial Statements  
Note 5 - Property and Equipment, Net

Property and equipment at March 31, 2019 and December 31, 2018 are as follows:

 

    March 31     December 31  
    2019     2018  
             
Equipment   $ 1,965,659     $ 1,965,659  
Trucking equipment     983,948       983,948  
Office equipment     27,155       27,155  
Computer equipment and software     117,212       117,212  
Total equipment      3,093,974       3,093,974  
                 
Less: accumulated depreciation     (2,586,587 )     (2,503,990 )
Total equipment in use, net     507,387       589,984  
                 
Construction in process     1,807,707       1,807,707  
Property and equipment, net   $ 2,315,094     $ 2,397,691  

  

The Company uses the straight-line method of depreciation over 2 to 5 years. During the three months ended March 31, 2019 and 2018 depreciation expense was $82,597, and $164,324.