Quarterly report pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT

v3.22.1
PROPERTY AND EQUIPMENT
3 Months Ended
Mar. 31, 2022
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment Disclosure [Text Block]

NOTE 4 PROPERTY AND EQUIPMENT

 

Property and equipment as of March 31, 2022 and December 31, 2021 is summarized as follows:

 

   

March 31, 2022

(000’s)

   

December 31, 2021

(000’s)

 

Computer equipment

  $ 388     $ 383  

Furniture and fixtures

    88       88  

Manufacturing equipment

    302       286  

Testing/Demo equipment

    178       145  

Leasehold improvements

    79       79  

Total

    1,035       981  

Less accumulated depreciation

    (379

)

    (329

)

Property and equipment, net

  $ 656     $ 652  

 

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 $50,082 and $36,834 for three months ended March 31, 2022 and 2021, respectively.