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

Property and Equipment

v3.20.4
Property and Equipment
 9 Months Ended 12 Months Ended
Sep. 30, 2020
Dec. 31, 2019
Property, Plant and Equipment [Abstract]    
Property and Equipment

NOTE 5 - PROPERTY AND EQUIPMENT

 

At September 30, 2020 and December 31, 2019, property and equipment, net of fully depreciated assets, consisted of the following:

 

    September 30, 2020     December 31, 2019  
Office furniture and fixtures   $ 9,809     $ 10,066  
Computer equipment     37,510       47,646  
Rental equipment     60,905       75,470  
Appliques     2,160,096       2,160,096  
Website development     66,452       36,279  
                 
Less accumulated depreciation     (1,164,151 )     (988,370 )
                 
Total   $ 1,170,621     $ 1,341,187  

 

Depreciation expense for the three months ended September 30, 2020 and 2019 were $67,447 and $62,859, respectively. Depreciation expense for the nine months ended September 30, 2020 and 2019 were $199,242 and $184,484, respectively.

NOTE 5 – PROPERTY AND EQUIPMENT

 

Property and equipment consisted of the following:

 

    December 31, 2019     December 31, 2018  
Office furniture and fixtures   $ 10,066     $ 76,907  
Computer equipment     47,646       30,678  
Rental equipment     75,470       66,090  
Appliques     2,160,096       2,160,096  
Website development     36,279       23,061  
                 
Less accumulated depreciation     (988,370 )     (836,987 )
                 
Total   $ 1,341,187     $ 1,519,845  

 

Depreciation expense was $250,328 and $263,864 for the year ended December 31, 2019 and 2018, respectively.