Volcon ePowersports, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

LONG ??? LIVED ASSETS

LONG – LIVED ASSETS

9 Months Ended

Sep. 30, 2022

Property, Plant and Equipment [Abstract]

LONG – LIVED ASSETS

NOTE 4 – LONG – LIVED ASSETS

Property and Equipment

Property and equipment consist of the following:

Schedule of property and equipment
	September 30, 2022			December 31, 2021
Machinery, tooling and equipment	$	208,162		$	554,378
Vehicles		156,648			148,460
Internal use manufactured vehicles		274,385			73,500
Fixtures & furniture		50,768			75,935
Leasehold improvements		44,663			60,248
Computers		231,791			88,610
		966,417			1,001,130
Less: Accumulated depreciation		(356,522	)		(191,397	)
Total property and equipment	$	609,895		$	809,734

Depreciation expense for the three and nine months ended September 30, 2022 was $265,907 and $569,757, respectively. Depreciation expense for the three and nine months ended September 30, 2021 was $57,448 and $124,726, respectively.

Intangible Assets

Intangible assets consist of the following:


	September 30, 2022			December 31, 2021
Domain names	$	17,438		$	17,438
Software		–			13,125
		17,438			30,563
Less: Accumulated amortization		(10,172	)		(12,510	)
Total intangible assets	$	7,266		$	18,053

Amortization expense for the three and nine months ended September 30, 2022 was $1,453 and $4,360, respectively. Amortization expense for the three and nine months ended September 30, 2021 was $3,741 and $9,831, respectively.