Quarterly report pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT

v3.21.1
PROPERTY AND EQUIPMENT
3 Months Ended
Mar. 31, 2021
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment Disclosure [Text Block]

NOTE 4 PROPERTY AND EQUIPMENT

 

Property and equipment as of March 31, 2021 and December 31, 2020 is summarized as follows:

 

   

March 31,

2021

   

December 31,

2020

 

Computer equipment

  $ 315,532     $ 232,902  

Furniture and fixtures

    79,147       75,127  

Manufacturing equipment

    34,377       34,377  

Testing/Demo equipment

    139,225       96,000  

Total

    568,281       438,406  

Less accumulated depreciation

    (186,880

)

    (149,846

)

Property and equipment, net

  $ 381,401     $ 288,560  

 

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 $36,834 and $16,264 for three months ended March 31, 2021 and 2020, respectively.