Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

v3.22.2
Property and Equipment
 6 Months Ended
Jun. 30, 2022
Property, Plant and Equipment [Abstract]  
Property and Equipment

Note 6. Property and Equipment

 

At June 30, 2022 and December 31, 2021, property and equipment consisted of the following:

                 
    June 30, 2022     December 31, 2021  
Office equipment   $ 17,061     $ 17,061  
Computer equipment     14,907       14,907  
Vehicle     28,143       28,143  
Software     93,012       93,012  
Machinery     3,280,911       3,280,911  
Leasehold improvements     372,867       198,645  
Capitalized R&D cost     779,482       -  
Construction in progress     55,428       150,611  
Property and equipment, gross     4,641,811       3,783,290  
Accumulated depreciation     (3,179,338 )     (3,008,220 )
Property and equipment, net of accumulated depreciation   $ 1,462,473     $ 775,070  

 

Depreciation expense of property and equipment for the six months ended June 30, 2022 and 2021 is $171,117 and $195,700, respectively, of which $102,521 and $180,101, respectively, are included in cost of revenue.

 

During the six months ended June 30, 2022 and 2021, the Company purchased assets of $858,520 and $30,266.