Quarterly report pursuant to Section 13 or 15(d)

3. Property and Equipment

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3. Property and Equipment
 9 Months Ended
Sep. 30, 2018
Property, Plant and Equipment [Abstract]  
Property and Equipment

Note 3 – Property and Equipment

 

At September 30, 2018 and December 31, 2017, property and equipment consisted of the following:

 

    September 30, 
2018 		    December 31, 
2017 		 
Warehouse   $ 3,789,773     $ –  
Land     731,515       –  
Computers     1,029       1,029  
Furniture and fixture     12,506       8,850  
Total cost     4,534,823       9,879  
Less accumulated depreciation     (5,178 )     (3,543 )
Property and equipment, net   $ 4,529,645     $ 6,336  

 

In September, the Company purchased a warehouse and office in Ontario, California for its own use. The previous owner of the building engaged in a short term lease agreement to rent partial portion of the warehouse during the transition. The tenant paid $18,000 as security deposit, shown as other payable in current liability.

 

Depreciation expense for the nine months ended September 30, 2018 and 2017 amounted to $1,635 and $914, respectively.