Annual report pursuant to Section 13 and 15(d)

Property and Equipment

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Property and Equipment
 12 Months Ended
Dec. 31, 2021
Property, Plant and Equipment [Abstract]  
Property and Equipment

Note 6 – Property and Equipment

 

At December 31, 2021 and 2020, property and equipment consisted of the following: 

               
    December 31, 2021     December 31, 2020  
Warehouse   $ 3,789,773     $ 3,789,773  
Land     731,515       731,515  
Building improvement     238,666       238,666  
Furniture and fixture     27,631       27,631  
Equipment     71,368       48,378  
Software     1,995       1,995  
Total cost     4,860,948       4,837,958  
Less accumulated depreciation     (507,608 )     (345,448 )
Property and equipment, net   $ 4,353,340     $ 4,492,510  

 

Depreciation expense for the years ended December 31, 2021 and 2020 amounted to $162,160 and $162,242, respectively.

 

The Company purchased a warehouse in Ontario, California in September 2018 and leased an unused portion to a third party. The tenant paid $12,335 as security deposit, shown as other liability in other current liability as of December 31, 2021 and non-current liabilities as of December 31, 2020.