Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

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Property and Equipment
9 Months Ended
Sep. 30, 2016
Property and Equipment [Abstract]  
PROPERTY AND EQUIPMENT
4.   PROPERTY AND EQUIPMENT

 

Property and equipment is recorded at cost when acquired.  Depreciation is provided principally on the straight-line method over the estimated useful lives of the related assets, which is 3-7 years for equipment, furniture and fixtures, hardware and software and leasehold improvements.   During the nine months ended September 30, 2016, the Company invested $6,140 in shop machinery and equipment, $4,981 in computers and electronics and $2,978 in office furniture and fixtures. Depreciation expense was $25,132 and $10,809 for the nine months ended September 30, 2016 and 2015, respectively. Property and equipment consisted of the following at September 30, 2016 and December 31, 2015: 

 

      September 30, 2016     December 31, 2015  
  Shop machinery and equipment   $ 87,029     $ 80,889  
  Computers and electronics     33,892       28,911  
  Office furniture and fixtures     36,955       33,977  
  Leasehold improvements     19,514       19,514  
        177,390       163,291  
  Less - accumulated depreciation     (52,127 )     (26,995 )
      $ 125,263     $ 136,296