Quarterly report [Sections 13 or 15(d)]

Property and Equipment

v3.26.3
Property and Equipment
 9 Months Ended
Sep. 30, 2026
Property, Plant, and Equipment [Abstract]  
Property and Equipment

3. Property and Equipment

 

At September 30, 2026 and December 31, 2025, property and equipment consisted of the following:

 

                 
    September 30,   December 31,
    2026   2025
Machinery and equipment   $ 3,363,496     $ 3,354,246  
Furniture and fixtures     36,816       36,816  
Leasehold improvements     3,264,468       3,219,520  
Software and website development     279,870       1,089,155  
Computer hardware and software     120,328       120,328  
Boat molds     5,695,464       5,347,338  
Vehicles     94,534       94,534  
Assets under construction     13,632       17,600  
      12,868,608       13,279,537  
Less accumulated depreciation and amortization     (6,187,407 )     (4,936,576 )
    $ 6,681,201     $ 8,342,961  

 

Depreciation and amortization expense of property and equipment for the three months ended September 30, 2026 and 2025 were $435,566 and $419,825, respectively. Depreciation and amortization expense of property and equipment for the nine months ended September 30, 2026 and 2025 were $1,361,812 and $1,287,048, respectively.