Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

v3.21.2
Property and Equipment
 9 Months Ended
Sep. 30, 2021
Property, Plant and Equipment [Abstract]  
Property and Equipment

4. Property and Equipment

 

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

 

               
    September 30,   December 31,
    2021   2020
Machinery and equipment   $ 1,114,290     $ 985,862  
Furniture and fixtures     1,850       1,850  
Leasehold improvements     553,072       228,875  
Software and website development     113,120       113,120  
Computer hardware and software     67,118       49,967  
Boat molds     612,279       126,000  
Electric prototypes and tooling     163,696       146,232  
      2,625,425       1,651,906  
Less accumulated depreciation and amortization     (394,696 )     (286,877 )
    $ 2,230,729     $ 1,365,029  

 

Depreciation and amortization expense of property and equipment for the nine months ended September 30, 2021 and 2020 is $132,089 and $95,954, respectively.