FIXED ASSETS

6 Months Ended

Jun. 30, 2018

Property, Plant and Equipment [Abstract]

FIXED ASSETS

NOTE E – FIXED ASSETS

Fixed assets as of June 30, 2018 and December 31, 2017 consist of:

	June 30, 2018			December 31, 2017
Machinery and equipment	$	933,245		$	933,245
Furniture and fixtures		14,498			14,498
Autos and Trucks		5,294			5,294
Total		953,037			953,037
Less: accumulated depreciation		(536,071	)		(513,542	)
Fixed Assets, net	$	416,966		$	439,495

Depreciation expense was $11,265 and $5,475 for the three months ended June 30, 2018 and 2017, respectively.

Depreciation expense was $22,529 and $10,984 for the six months ended June 30, 2018 and 2017, respectively.

In July 2017, the Company entered into a financing agreement for the purchase of CNC machining equipment valued at approximately $426,000. The machining equipment was received in July 2017 and will be used for the manufacture of Voraxial Separators in preparation of potential future orders under the Supply Agreement and sales pursuant to the Grant Back Licenses. As of June 30, 2018 and December 31, 2017, the amount owed is $320,344 and $340,644 respectively.