Verb Technology Company, Inc. General form of registration statement for all companies including face-amount certificate companies

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

Property and Equipment (Sound Concepts Inc.)

Property and Equipment (Sound Concepts Inc.)

12 Months Ended

Dec. 31, 2018

3.	PROPERTY AND EQUIPMENT

Property and equipment consisted of the following as of December 31, 2018 and 2017.

	December 31, 2018			December 31, 2017

Furniture and fixtures	$	57,000		$	57,000
Office equipment		51,000			51,000

		108,000			108,000
Less: accumulated depreciation		(97,00	)		(77,000	)

	$	11,000		$	31,000

Depreciation expense amounted to $20,000 and $22,000 for the year ended December 31, 2018 and 2017, respectively.

Sound Concepts, Inc. [Member]

Property and Equipment

Note 5. Property and Equipment

	December 31,
	2018			2017			2016

Computers	$	20,000		$	20,000		$	42,000
Furniture and fixture		26,000			26,000			26,000
Machinery and equipment		141,000			127,000			127,000
Software		113,000			113,000			142,000
Vehicles		122,000			110,000			110,000
Leasehold Improvement		30,000			-			-
Total property and equipment		452,000			396,000			447,000
Accumulated Depreciation		(340,000	)		(350,000	)		(347,000	)
Total property and equipment, net	$	112,000		$	46,000		$	100,000

Depreciation expense for the years ended December 31, 2018, 2017 and 2016 amounted to $35,000, $59,000 and $67,000, respectively.

During the year ended December 31, 2017, the Company disposed of certain fully depreciated property and equipment with an aggregate cost of $54,000.

During the year ended December 31, 2018, the Company disposed of a fully depreciated vehicle with a cost of $45,000. As a part of the disposal, the Company received a trade in allowance of $20,000 that was recorded as part of other income (expense) in the accompanying financial statements.