Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

v3.22.1
Property and Equipment
 3 Months Ended
Mar. 31, 2022
Property, Plant and Equipment [Abstract]  
Property and Equipment

Note 6. Property and Equipment

 

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

 

    March 31,     December 31,  
    2022     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     322,501       198,645  
Capitalized R&D cost     529,469       -  
Construction in progress     38,552       150,611  
Property and equipment, gross     4,324,556       3,783,290  
Accumulated depreciation     (3,113,433 )     (3,008,220 )
Property and equipment, net of accumulated depreciation   $ 1,211,123     $ 775,070  

 

Depreciation expense of property and equipment for the three months ended March 31, 2022 and 2021 is $105,211 and $97,635, respectively, of which $84,120 and $90,051, respectively, are included in cost of revenue.

 

During the three months ended March 31, 2022 and 2021, the Company purchased assets of $541,264 and $0.