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

Property and Equipment

v3.20.2
Property and Equipment
 3 Months Ended 12 Months Ended
Mar. 31, 2020
Dec. 31, 2019
Property, Plant and Equipment [Abstract]    
Property and Equipment
4. PROPERTY AND EQUIPMENT

 

Property and equipment consisted of the following as of March 31, 2020 and December 31, 2019.

 

    March 31, 2020     December 31, 2019  
             
Computers   $ 29,000     $ 29,000  
Furniture and fixture     75,000       75,000  
Machinery and equipment     39,000       39,000  
Leasehold improvement     862,000       741,000  
Total property and equipment     1,005,000       884,000  
Accumulated depreciation     (202,000 )     (164,000 )
Total property and equipment, net   $ 803,000     $ 720,000  

 

Depreciation expense amounted to $38,000 and $4,000 for three months ended March 31, 2020 and 2019, respectively.
4. PROPERTY AND EQUIPMENT

 

Property and equipment consisted of the following as of December 31, 2019 and 2018.

 

   

December 31,

2019

    

December 31,

2018

  
             
Computers   $ 29,000     $ 28,000  
Furniture and fixture     75,000       56,000  
Machinery and equipment     39,000       24,000  
Leasehold improvement     741,000       -  
Total property and equipment     884,000       108,000  
Accumulated depreciation     (164,000 )     (97,000 )
Total property and equipment, net   $ 720,000     $ 11,000  

 

Depreciation expense amounted to $67,000 and $20,000 for the year ended December 31, 2019 and 2018, respectively.