Quarterly report pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT

v3.19.3
PROPERTY AND EQUIPMENT
 9 Months Ended
Sep. 30, 2019
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT

NOTE 3 PROPERTY AND EQUIPMENT

 

Property and equipment consists of the following at:

               

 

 

September 30, 2019

 

December 31, 2018

 

 

 

 

 

 

 

 

 

Land

 

$

—

 

$

54,030

 

Building

 

 

—

 

 

171,094

 

Furniture, office equipment, and leasehold improvements

 

 

1,120,416

 

 

1,058,507

 

Manufacturing equipment and tooling

 

 

1,309,172

 

 

1,279,865

 

 

 

 

2,429,588

 

 

2,563,496

 

Less: accumulated depreciation

 

 

(1,792,660

)

 

(1,704,715

)

Property and equipment, net

 

$

636,928

 

$

858,781

 

 

On May 21, 2019, the Company sold the house it owned for $0.2 million.

 

Depreciation expense was $69,740 and $68,991 for the three months ended September 30, 2019 and 2018, respectively, and $218,328 and $202,975 for the nine months ended September 30, 2019 and 2018, respectively.