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

3. Property and Equipment

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

Note 6 – Property and Equipment

 

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

 

    September 30,
2019		     December 31, 
2018		  
Warehouse   $ 3,789,773     $ 3,789,773  
Land     731,515       731,515  
Building Improvement     250,276       34,000  
Construction in progress     –       31,677  
Furniture and fixture     28,811       16,677  
Equipment     127,051       6,029  
Software     5,984       –  
Total cost     4,933,410       4,609,671  
Less accumulated depreciation and amortization     (236,208 )     (31,536 )
Property and equipment, net   $ 4,697,202     $ 4,578,135  

 

Depreciation and amortization expense for the nine months ended September 30, 2019 and 2018 amounted to $112,106 and $1,635, 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.