Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

v3.19.3
Property and Equipment
9 Months Ended
Sep. 30, 2019
Property, Plant and Equipment [Abstract]  
Property and Equipment

NOTE 4 - PROPERTY AND EQUIPMENT

 

Property and equipment consists of the following:

 

    Estimated Life   September 30, 2019     December 31, 2018  
Computers and equipment   5 years   $ 17,178     $ 15,589  
Furniture and fixtures   7 years     19,158       19,158  
Total property and equipment         36,336       34,747  
Accumulated depreciation         (19,137 )     (14,587 )
Total property and equipment, net       $ 17,199     $ 20,160  

 

Depreciation expense of approximately $1,600 was recognized for the three months ended September 30, 2019 and approximately $1,500 was recognized for the three months ended September 30, 2018. Depreciation expense of approximately $4,600 was recognized for the nine months ended September 30, 2019 and approximately $4,300 was recognized for 2018. Depreciation expense is classified in general and administrative expense in the accompanying unaudited condensed statements of operations.