Annual report pursuant to Section 13 and 15(d)

Fixed Assets, Net

v3.20.4
Fixed Assets, Net
12 Months Ended
Dec. 31, 2020
Fixed Assets, Net  
Fixed Assets, Net

Note 4 — Fixed Assets, Net

Fixed Assets consisted of the following:

December 31, 

December 31, 

    

2020

    

2019

Tooling and Manufacturing Equipment

$

5,494,491

$

5,262,080

Leaseholds

 

773,734

 

773,734

Computers and Purchased Software

 

798,881

 

824,965

Furniture and Equipment

 

2,134,788

 

2,043,355

 

9,201,894

 

8,904,134

Less: Accumulated Depreciation

 

(6,364,492)

 

(4,576,458)

Fixed Assets, Net

$

2,837,402

$

4,327,676

Total depreciation expense for fixed assets for the years ended December 31, 2020, 2019 and 2018 was $1,904,282, $1,913,409 and $1,273,527, respectively.