Quarterly report pursuant to Section 13 or 15(d)

Property And Equipment, Net

v3.19.2
Property And Equipment, Net
6 Months Ended
Jun. 30, 2019
Organization  
Note 5 - Property and Equipment, Net

Property and equipment at June 30, 2019 and December 31, 2018 are as follows:

 

 

June 30,

 

December 31,

 

2019

 

2018

 

Equipment & Installation

 

$

1,965,659

 

$

1,965,659

 

Trucking equipment

 

983,948

 

983,948

 

Computer equipment and software

 

117,212

 

117,212

 

Office equipment

 

27,155

 

27,155

 

Total equipment 

 

3,093,974

 

3,093,974

 

Less: accumulated depreciation

 

(2,667,025

)

 

(2,503,990

)

Construction in process

 

1,807,707

 

1,807,707

 

Property and equipment, net

 

$

2,234,656

 

$

2,397,691

 

The Company uses the straight-line method of depreciation over 2 to 5 years. During the six months ended June 30, 2019 and 2018 depreciation expense was $163,035, and $227,968.