Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

v3.20.1
Property and Equipment
3 Months Ended
Mar. 31, 2020
Property Plant And Equipment [Abstract]  
Property and Equipment

NOTE 6 – PROPERTY AND EQUIPMENT

Property and equipment, net consists of the following:

 

 

 

March 31,

 

 

December 31,

 

 

 

2020

 

 

2019

 

Computers and computer equipment

 

$

659,763

 

 

$

633,546

 

Furniture and office equipment

 

 

337,901

 

 

 

340,801

 

Manufacturing equipment and engineering tools

 

 

2,503,576

 

 

 

2,501,020

 

ERP System

 

 

1,892,420

 

 

 

1,709,125

 

Leasehold improvements

 

 

902,974

 

 

 

892,097

 

 

 

 

6,296,634

 

 

 

6,076,589

 

Less:  accumulated depreciation and amortization

 

 

(2,744,083

)

 

 

(2,508,025

)

 

 

$

3,552,551

 

 

$

3,568,564

 

 

 

During the three month periods ended March 31, 2020 and 2019, the Company incurred $221,300 and $115,308, respectively of depreciation and amortization expense related to property and equipment.