Annual report pursuant to Section 13 and 15(d)

LONG ??? LIVED ASSETS

v3.22.4
LONG – LIVED ASSETS
 12 Months Ended
Dec. 31, 2022
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:

             
    2022     2021  
Machinery, tooling and equipment   $ 352,137     $ 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     228,671       88,610  
      1,107,272       1,001,130  
Less: Accumulated depreciation     (505,506 )     (191,397 )
Total property and equipment   $ 601,766     $ 809,734  

 

Depreciation expense for the years ended December 31, 2022 and 2021 was $757,013 and $206,385, respectively.

  

Intangible assets

 

Intangible assets consist of the following at December 31:

             
    2022     2021  
Domain names   $ 17,438     $ 17,438  
Software     –       13,125  
      17,438       30,563  
Less: Accumulated amortization     (11,625 )     (12,510 )
Total intangible assets   $ 5,813     $ 18,053  

 

Amortization expense for the years ended December 31, 2022 and 2021 was $5,813 and $12,026, respectively.