General form of registration statement for all companies including face-amount certificate companies

Property and Equipment

v3.22.4
Property and Equipment
 9 Months Ended 12 Months Ended
Sep. 30, 2022
Dec. 31, 2021
Property and Equipment [Abstract]    
PROPERTY AND EQUIPMENT

NOTE 6 – PROPERTY AND EQUIPMENT

 

Property and equipment, net consists of the following:

 

    September 30,
2022		     December 31,
2021		  
Machinery and equipment   $ 204,143     $ 176,678  
Leasehold improvements     12,283       12,283  
      216,426       188,961  
                 
Less: Accumulated depreciation     (91,686 )     (65,982 )
Total   $ 124,740     $ 122,979  

 

Depreciation expense was $8,635 and $25,704 for the three and nine months ended September 30, 2022, respectively. Depreciation expense was $7,538 and $19,376 for the three and nine months ended September 30, 2021, respectively.  

NOTE 6 – PROPERTY AND EQUIPMENT

 

Property and equipment, net consists of the following:

 

    December 31,
2021		     December 31,
2020		  
Computer equipment   $
-
     $ 4,164  
Machinery and equipment     176,678       121,433  
Leasehold improvements     12,283       5,000  
      188,961       130,597  
                 
Less: Accumulated depreciation     (65,982 )     (38,855 )
Total   $ 122,979     $ 91,742  

 

Depreciation expense was $27,410 and $17,353 for the year ended December 31, 2021 and 2020, respectively.