Quarterly report [Sections 13 or 15(d)]

PROPERTY AND EQUIPMENT

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PROPERTY AND EQUIPMENT
 6 Months Ended
Jun. 30, 2026
Property, Plant, and Equipment [Abstract]  
PROPERTY AND EQUIPMENT

NOTE 13 – PROPERTY AND EQUIPMENT

 

Property and equipment, net consists of the following:

 

    June 30, 2026     December 31, 2025  
Computer equipment   $ 104,747     $ 104,747  
Tools and equipment     168,244       147,903  
Furniture and equipment     18,862       39,202  
CIP     -       154,850  
Property and equipment, gross     291,853       446,702  
Less: Accumulated depreciation     (282,316 )     (279,054 )
Property and equipment, net   $ 9,537     $ 167,648  

 

Construction in Progress (“CIP”) represents costs incurred for ongoing projects that are not yet ready for their intended use. As of December 31, 2025, the balance of CIP was $154,850 and related to the implementation of a new enterprise resource planning (“ERP”) system. During the six months ended June 30, 2026, the Company completed the ERP implementation and placed the system into service. Accordingly, the full CIP balance was transferred to intangible assets. As of June 30, 2026, the Company had no Construction in Progress.

 

Depreciation expense was approximately $1,553 and $1,880 for the three months ended June 30, 2026 and 2025, respectively, and approximately $3,262 and $3,893 for the six months ended June 30, 2026 and 2025, respectively.