Annual report pursuant to Section 13 and 15(d)

Property And Equipment, Net

v3.20.1
Property And Equipment, Net
12 Months Ended
Dec. 31, 2019
Property And Equipment, Net  
Note 5 - Property and Equipment, Net

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

 

 

 

December 31

 

 

December 31

 

 

 

2019

 

 

2018

 

 

 

 

 

 

 

 

Equipment & Installation

 

$ 1,965,659

 

 

$ 1,965,659

 

Trucking equipment

 

 

922,441

 

 

 

983,948

 

Computer equipment and software

 

 

67,126

 

 

 

117,212

 

Office equipment

 

 

27,155

 

 

 

27,155

 

Total equipment 

 

 

2,982,381

 

 

 

3,093,974

 

 

 

 

 

 

 

 

 

 

Less: accumulated depreciation

 

 

(2,707,745 )

 

 

(2,503,990 )

Construction in process

 

 

1,807,707

 

 

 

1,807,707

 

Property and equipment, net

 

$ 2,082,343

 

 

$ 2,397,691

 

 

The Company uses the straight-line method of depreciation over 2 to 5 years. During the years ended December 31, 2019 and 2018 depreciation expense was $314,908, and $456,914.