Quarterly report pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT

v3.21.2
PROPERTY AND EQUIPMENT
9 Months Ended
Sep. 30, 2021
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment Disclosure [Text Block]

NOTE 4 PROPERTY AND EQUIPMENT

 

Property and equipment as of September 30, 2021 and December 31, 2020 is summarized as follows:

 

   

September 30,

2021

(000’s)

   

December 31,

2020

(000’s)

 

Computer equipment

  $ 377     $ 234  

Furniture and fixtures

    83       75  

Manufacturing equipment

    153       34  

Testing/Demo equipment

    145       96  

Leasehold improvements

    77       -  

Total

    835       439  

Less accumulated depreciation

    (278

)

    (150

)

Property and equipment, net

  $ 557     $ 289  

 

Property and equipment are stated at cost and depreciated using the straight-line method over their estimated useful lives of 3 to 5 years. Leasehold improvements are depreciated over the related expected lease term. 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 $46,205 and $128,152 for three and nine months ended September 30, 2021 and $19,117 and $52,838 for the three and nine months ended September 30, 2020, respectively.