Quarterly report pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT

v3.20.1
PROPERTY AND EQUIPMENT
3 Months Ended
Mar. 31, 2020
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment Disclosure [Text Block]

NOTE 4 – PROPERTY AND EQUIPMENT


Property and equipment as of March 31, 2020 and December 31, 2019 is summarized as follows:


   

March 31,

2020

   

December 31,

2019

 

Computer equipment

  $ 169,290     $ 155,126  

Furniture and fixtures

    74,517       71,463  

Manufacturing equipment

    32,358       29,098  

Less accumulated depreciation

    (91,583

)

    (75,319

)

Property and equipment, net

  $ 184,582     $ 180,368  

Property and equipment are stated at cost and depreciated using the straight-line method over their estimated useful lives of 3 to 5 years. When retired or otherwise disposed, the related carrying value and accumulated depreciation are removed from the respective accounts and the net difference less any amount realized from disposition, is reflected in earnings.


Depreciation expense was $16,264 and $5,209 for three months ended March 31, 2020 and 2019, respectively.