Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

v3.23.1
Property and Equipment
 3 Months Ended
Mar. 31, 2023
Property, Plant and Equipment [Abstract]  
Property and Equipment

4. Property and Equipment

 

At March 31, 2023 and December 31, 2022, property and equipment consisted of the following:

  

               
    March 31,   December 31,
    2023   2022
Machinery and equipment   $ 2,204,715     $ 2,018,203  
Furniture and fixtures     37,087       23,211  
Leasehold improvements     1,094,081       979,549  
Software and website development     263,342       204,279  
Computer hardware and software     135,508       123,088  
Boat molds     3,410,087       3,007,903  
Vehicles     143,360       95,534  
Electric prototypes and tooling     142,526       142,526  
      7,430,706       6,594,293  
Less accumulated depreciation and amortization     (1,276,667 )     (1,058,391 )
    $ 6,154,039     $ 5,535,902  

  

Depreciation and amortization expense of property and equipment for the three months ended March 31, 2023 and 2022 are $218,276 and $80,092, respectively.