Annual report pursuant to Section 13 and 15(d)

LONG ??? LIVED ASSETS

v3.22.1
LONG – LIVED ASSETS
 12 Months Ended
Dec. 31, 2021
Property, Plant and Equipment [Abstract]  
LONG – LIVED ASSETS

NOTE 4 – LONG – LIVED ASSETS

 

Property and equipment

 

Property and equipment consist of the following at December 31:

               
    2021     2020  
Machinery, tooling and equipment   $ 554,378     $ 215,995  
Vehicles     148,460       73,202  
Internal use manufactured vehicles     73,500       –  
Fixtures & furniture     75,935       –  
Leasehold improvements     60,248       –  
Computers     88,610       18,112  
      1,001,130       307,309  
Less: Accumulated depreciation     (191,397 )     (2,038 )
Total property and equipment   $ 809,734     $ 305,271  

 

Depreciation expense for the year ended December 31, 2021 and the period from February 21, 2020 (inception) to December 31, 2020 was $206,385 and $2,038, respectively.

 

Intangible assets

 

Intangible assets consist of the following at December 31:  

               
    2021     2020  
Domain names   $ 17,438     $ 17,438  
Software     13,125       –  
      30,563       17,438  
Less: Accumulated amortization     (12,510 )     (484 )
Total intangible assets   $ 18,053     $ 16,954  

 

Amortization expense for the year ended December 31, 2021 and the period from February 21, 2020 (inception) to December 31, 2020 was $12,026 and $484 respectively.