Annual report pursuant to Section 13 and 15(d)

PROPERTY AND EQUIPMENT

v3.20.4
PROPERTY AND EQUIPMENT
12 Months Ended
Dec. 31, 2020
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment Disclosure [Text Block]

NOTE 4 PROPERTY AND EQUIPMENT

 

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

 

   

December 31,

2020

   

December 31,

2019

 

Computer equipment

  $ 232,902     $ 155,126  

Furniture and fixtures

    75,127       71,463  

Manufacturing equipment

    34,377       29,098  

Testing/Demo equipment

    96,000       -  

Total

    438,406       255,687  

Less accumulated depreciation

    (149,846

)

    (75,319

)

Property and equipment, net

  $ 288,560     $ 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 $74,527 and $38,773 for years ended December 31, 2020 and 2019, respectively.