Annual report pursuant to Section 13 and 15(d)

Fixed Assets, Net

v3.20.1
Fixed Assets, Net
12 Months Ended
Dec. 31, 2019
Fixed Assets, Net  
Fixed Assets, Net

Note 5 — Fixed Assets, Net

Fixed Assets consisted of the following:

 

 

 

 

 

 

 

 

 

December 31, 

 

December 31, 

 

    

2019

    

2018

Tooling and Manufacturing Equipment

 

$

5,262,080

 

$

4,199,309

Leaseholds

 

 

773,734

 

 

487,957

Computers and Purchased Software

 

 

824,965

 

 

937,946

Furniture and Equipment

 

 

2,043,355

 

 

1,721,963

 

 

 

8,904,134

 

 

7,347,175

Less: Accumulated Depreciation

 

 

(4,576,458)

 

 

(3,055,485)

Fixed Assets, Net

 

$

4,327,676

 

$

4,291,690

 

Total depreciation expense for fixed assets for the years ended December 31, 2019, 2018 and 2017 was $1,913,409, $1,273,527 and $921,113, respectively.