Twin Vee PowerCats Co. General form of registration statement for all companies including face-amount certificate companies

General form of registration statement for all companies including face-amount certificate companies

Property and Equipment

Property and Equipment

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Property and Equipment

3. Property and Equipment

At December 31, 2020 and 2019, property and equipment consisted of the following:

	December 31,
	2020			2019

Machinery and equipment	$	985,862		$	1,054,696
Furniture and fixtures		1,850			1,850
Leasehold improvements		228,875			109,499
Software and website development		113,120			101,320
Computer hardware and software		49,967			49,967
Boat molds		126,000			126,000
New model development		146,232			56,462
		1,651,906			1,499,794
Less accumulated depreciation and amortization		(286,877	)		(173,816	)
	$	1,365,029		$	1,325,978

Depreciation and amortization expense of property and equipment for the years ended December 31, 2020 and 2019 is $155,728 and $115,056, respectively.