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 and Equipment

4. Property and Equipment

 

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

 

               
    December 31,   December 31,
    2021   2020
Machinery and equipment   $ 1,343,797     $ 985,862  
Furniture and fixtures     1,850       1,850  
Leasehold improvements     786,199       228,875  
Software and website development     113,120       113,120  
Computer hardware and software     76,598       49,967  
Boat molds     778,229       126,000  
Vehicles     101,984       0  
Electric prototypes and tooling     142,526       146,232  
      3,344,303       1,651,906  
Less accumulated depreciation and amortization     (461,132 )     (286,877 )
    $ 2,883,171     $ 1,365,029  

 

Depreciation and amortization expense of property and equipment for the twelve months ended December 31, 2021 and 2020 is $198,523 and $155,728, respectively.