Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

v3.20.1
Property and Equipment
3 Months Ended
Mar. 31, 2020
Property, Plant and Equipment [Abstract]  
Property and Equipment

NOTE 4 - PROPERTY AND EQUIPMENT

 

Property and equipment consists of the following:

 

    Estimated Life   March 31, 2020     December 31,2019  
Computers and equipment   5 years   $ 17,178     $ 17,178  
Furniture and fixtures   7 years     19,158       19,158  
Total property and equipment         36,336       36,336  
Accumulated depreciation         (22,144 )     (20,680 )
Total property and equipment, net       $ 14,192     $ 15,656  

 

Depreciation expense of approximately $1,500 and $1,400 was recognized for the three months ended March 31, 2020 and 2019, respectively, and classified in general and administrative expense in the accompanying unaudited condensed statements of operations and comprehensive loss.