Quarterly report pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT

v3.22.1
PROPERTY AND EQUIPMENT
 3 Months Ended
Mar. 31, 2022
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT

NOTE 2 — PROPERTY AND EQUIPMENT

 

Property and equipment consists of the following at:

 

    March 31, 2022   December 31, 2021  
               
Furniture and office equipment   $ 826,503   $ 818,897  
Construction in progress     638,489     —  
Leasehold improvements     556,907     556,907  
Manufacturing equipment and tooling     2,134,764     2,042,675  
   Total property and equipment     4,156,663     3,418,479  
Less: accumulated depreciation and amortization     (2,393,394 )   (2,312,034 )
Property and equipment, net   $ 1,763,269   $ 1,106,445  

 

Depreciation expense was $94,085 and $100,403 for the three months ended March 31, 2022, and 2021, respectively.