Quarterly report pursuant to Section 13 or 15(d)

Property And Equipment Net

v3.21.1
Property And Equipment Net
3 Months Ended
Mar. 31, 2021
Property And Equipment Net  
Note 5 - Property and Equipment, Net

Property and equipment at March 31, 2021 and December 31, 2020 are as follows:

 

 

 

March 31,

 

 

December 31,

 

 

 

2021

 

 

2020

 

 

 

 

 

 

 

 

Equipment & installation

 

$ 1,965,659

 

 

$ 1,965,659

 

Trucking equipment

 

 

834,375

 

 

 

834,375

 

Computer equipment and software

 

 

14,768

 

 

 

67,126

 

Office equipment

 

 

5,528

 

 

 

27,155

 

Total property and equipment

 

 

2,820,330

 

 

 

2,894,315

 

 

 

 

 

 

 

 

 

 

Less: accumulated depreciation

 

 

(2,764,809 )

 

 

(2,814,993 )

Construction in process

 

 

1,807,707

 

 

 

1,807,707

 

Property and equipment, net

 

$ 1,863,228

 

 

$ 1,887,029

 

 

The Company uses the straight-line method of depreciation over 2 to 5 years. During the three months ended March 31, 2021 and 2020 depreciation expense was $23,804, and $66,589 respectively.