Quarterly report pursuant to Section 13 or 15(d)

4. Property and Equipment

v3.19.3
4. Property and Equipment
9 Months Ended
Sep. 30, 2019
Property, Plant and Equipment [Abstract]  
Property and Equipment

4. Property and Equipment

 

Property and equipment are recorded at cost, net of accumulated depreciation and are comprised of the following:

 

    September 30,
2019
    December 31,
2018
 
             
Furniture and fixtures   $ 103,747     $ 98,395  
Marketing display     36,900       36,900  
Vehicles     34,000       34,000  
Office equipment     76,321       74,361  
Subtotal   $ 250,968     $ 243,655  
Less: accumulated depreciation     (189,896 )     (149,015 )
Total property and equipment, net of depreciation   $ 61,072     $ 94,640  

  

Depreciation on equipment is provided on a straight-line basis over its expected useful lives at the following annual rates.

  

Furniture and fixtures     3 years  
Marketing display     3 years  
Vehicles     3 years  
Office equipment     3 years  

 

Depreciation expense for the three and nine months ended September 30, 2019 was $15,265 and $40,881, respectively, compared to $17,991 and $56,275, respectively, for the three and nine months ended September 30, 2018.