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

6 Months Ended

Jun. 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
	June 30, 2022			December 31, 2021
Machinery, tooling and equipment	$	646,704		$	554,378
Vehicles		156,648			148,460
Internal use manufactured vehicles		244,231			73,500
Fixtures & furniture		67,996			75,935
Leasehold improvements		72,089			60,248
Computers		195,266			88,610
		1,382,934			1,001,130
Less: Accumulated depreciation		(439,559	)		(191,397	)
Total property and equipment	$	943,375		$	809,734

Depreciation expense for the three and six months ended June 30, 2022 was $192,322 and $303,849, respectively. Depreciation expense for the three and six months ended June 30, 2021 was $47,527 and $60,850, respectively.

Intangible Assets

Intangible assets consist of the following:


	June 30, 2022			December 31, 2021
Domain names	$	17,438		$	17,438
Software		–			13,125
		17,438			30,563
Less: Accumulated amortization		(8,719	)		(12,510	)
Total intangible assets	$	8,719		$	18,053

Amortization expense for the three and six months ended June 30, 2022 was $1,453 and $2,906, respectively. Amortization expense for the three and six months ended June 30, 2021 was $1,275 and $3,005, respectively.