Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

v3.21.2
Property and Equipment
 6 Months Ended
Jun. 30, 2021
Property, Plant and Equipment [Abstract]  
Property and Equipment

3. Property and Equipment

 

At June 30, 2021 and December 31, 2020, property and equipment consisted of the following:

 

               
    June 30,   December 31,
    2021   2020
Machinery and equipment   $ 970,109     $ 985,862  
Furniture and fixtures     1,850       1,850  
Leasehold improvements     386,441       228,875  
Software and website development     113,120       113,120  
Computer hardware and software     51,962       49,967  
Boat molds     126,000       126,000  
New model development     359,108       146,232  
      2,008,590       1,651,906  
Less accumulated depreciation and amortization     (363,606 )     (286,877 )
    $ 1,644,984     $ 1,365,029  

 

Depreciation and amortization expense of property and equipment for the six months ended June 30, 2021 and 2020 is $100,998 and $62,886, respectively.