Annual report pursuant to Section 13 and 15(d)

PROPERTY AND EQUIPMENT

v3.8.0.1
PROPERTY AND EQUIPMENT
12 Months Ended
Dec. 31, 2017
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT

NOTE 4 – PROPERTY AND EQUIPMENT

 

Furniture fixtures and equipment, stated at cost, less accumulated depreciation at December 31 consisted of the following:

 

    December 31, 2017   December 31, 2016
Equipment   $ 16,574     $ 35,202  
Furniture     16,701       18,776  
Computers & Hardware     5,187       5,187  
Less: accumulated depreciation     (38,462 )     (59,165 )
 Property and equipment, net   $ —       $ —    

 

During the year ended December 31, 2016, the Company determined that it would no longer be using tooling that had been capitalized at $59,995. Accordingly, the Company has determined that carrying amount of such asset is not recoverable and has written it down to $0, resulting in a loss on disposal of $20,461 for the year ended December 31, 2016.

 

During the year ended December 31, 2017, the Company determined that it would no longer be using certain equipment that had been capitalized at $20,702. Accordingly, the Company has determined that carrying amount of such asset is not recoverable and has written it down to $0. There was no loss on the disposal as the assets had already been fully depreciated.

 

Depreciation expense

 

Depreciation expense for the years ended December 31, 2017 and 2016 was $0 and $14,839, respectively.