Annual report pursuant to Section 13 and 15(d)

Property and Equipment

v3.23.1
Property and Equipment
 12 Months Ended
Dec. 31, 2022
Property, Plant and Equipment [Abstract]  
Property and Equipment

4. Property and Equipment

 

At December 31, 2022 and 2021, property and equipment consisted of the following:

  

               
    December 31,   December 31,
    2022   2021
Machinery and equipment   $ 2,018,203     $ 1,343,797  
Furniture and fixtures     23,211       1,850  
Leasehold improvements     979,549       786,199  
Software and website development     204,279       113,120  
Computer hardware and software     123,088       76,598  
Boat molds     3,007,903       778,229  
Vehicles     95,534       101,984  
Electric prototypes and tooling     142,526       142,526  
      6,594,293       3,344,303  
Less accumulated depreciation and amortization     (1,058,391 )     (461,132 )
    $ 5,535,902     $ 2,883,171  

  

Depreciation and amortization expense of property and equipment for the year ended December 31, 2022 and 2021 is $553,750 and $198,523, respectively.