Quarterly report pursuant to Section 13 or 15(d)

EQUIPMENT

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EQUIPMENT
9 Months Ended
Sep. 30, 2021
Property, Plant and Equipment [Abstract]  
EQUIPMENT

NOTE 3 - EQUIPMENT

 

Equipment, stated at cost, less accumulated depreciation consisted of the following:

 

    September 30, 2021     December 31, 2020  
             

Equipment

  $ 704,772     $ 704,772  

Equipment under construction

    75,259       35,969  
Equipment, gross     780,031       740,741  
Less accumulated depreciation     (592,970 )     (540,218 )
Equipment, net   $ 187,061     $ 200,523  

 

Depreciation expense for the nine months ended September 30, 2021 and 2020 was $52,752 and $161,707, respectively. As of September 30, 2021, the equipment under construction is approximately 70% complete, and is expected to be completed and placed into service during the year ended December 31, 2021. Equipment under construction is depreciated only after the asset is placed in service