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

3. Property and Equipment

v3.19.3
3. Property and Equipment
 6 Months Ended 12 Months Ended
Jun. 30, 2019
Dec. 31, 2018
Property, Plant and Equipment [Abstract]    
Property and Equipment

Note 4 – Property and Equipment

 

At June 30, 2019 and December 31, 2018, property and equipment consisted of the following:

 

    June 30,
2019		   December 31,
2018
Warehouse   $ 3,789,773     $ 3,765,481  
Land     731,515       731,515  
Building Improvement     250,276       32,745  
Furniture and fixture     28,811       16,677  
Equipment     123,551       5,057  
Software     5,984       5,057  
Total cost     4,929,910       4,609,671  
Less accumulated depreciation     (195,271 )     (31,536 )
Property and equipment, net   $ 4,734,639     $ 4,578,135  

 

Depreciation expense for the six months ended June 30, 2019 and 2018 amounted to $71,168 and $1,090, respectively.

Note 3 – Property and Equipment

 

At December 31, 2018 and 2017, property and equipment consisted of the following:

 

    December 31,
2018		     December 31,
2017		  
Warehouse   $ 3,789,773     $ –  
Land     731,515       –  
Building Improvement     34,000       –  
Construction in progress     31,677       –  
Furniture and fixtures     16,677       8,850  
Equipment     6,029       1,029  
Total cost     4,609,671       9,879  
Less accumulated depreciation     (31,536 )     (3,543 )
Property and equipment, net   $ 4,578,135     $ 6,336  

 

Depreciation expense for the years ended December 31, 2018 and 2017 amounted to $27,993 and $2,182, respectively.