Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

v3.22.2.2
Property and Equipment
9 Months Ended
Sep. 30, 2022
Property, Plant and Equipment [Abstract]  
Property and Equipment

4. Property and Equipment

 

At September 30, 2022 and December 31, 2021, property and equipment consisted of the following:

  

               
    September 30,   December 31,
    2022   2021
Machinery and equipment   $ 1,934,869     $ 1,343,797  
Furniture and fixtures     9,636       1,850  
Leasehold improvements     959,541       786,199  
Software and website development     147,334       113,120  
Computer hardware and software     100,113       76,598  
Boat molds     2,215,350       778,229  
Vehicles     95,536       101,984  
Electric prototypes and tooling     142,526       142,526  
      5,604,905       3,344,303  
Less accumulated depreciation and amortization     (830,066 )     (461,132 )
    $ 4,774,839     $ 2,883,171  

  

Depreciation and amortization expense of property and equipment for the nine months ended September 30, 2022 and 2021 is $372,511 and $132,089, respectively.