Annual report pursuant to Section 13 and 15(d)

PROPERTY AND EQUIPMENT

v3.22.1
PROPERTY AND EQUIPMENT
12 Months Ended
Dec. 31, 2021
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment Disclosure [Text Block]

NOTE 4 PROPERTY AND EQUIPMENT

 

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

 

   

December 31,

2021

(000’s)

   

December 31,

2020

(000’s)

 

Computer equipment

  $ 383     $ 234  

Furniture and fixtures

    88       75  

Manufacturing equipment

    286       34  

Testing/Demo equipment

    145       96  

Leasehold improvements

    79       -  

Total

    981       439  

Less accumulated depreciation

    (329

)

    (150

)

Property and equipment, net

  $ 652     $ 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 $179,136 and $74,527 for years ended December 31, 2021 and 2020, respectively.