FIXED ASSETS

3 Months Ended

Mar. 31, 2019

Property, Plant and Equipment [Abstract]

FIXED ASSETS

NOTE E – FIXED ASSETS

Fixed assets as of March 31, 2019 and December 31, 2018 consist of:

	March 31, 2019			December 31, 2018
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		(569,865	)		(558,601)
Fixed Assets, net	$	383,172		$	394,436

Depreciation expense was $11,264 and $11,264 for the three months ended March 31, 2019 and 2018, 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 March 31, 2019 and December 31, 2018, the amount owed is $274,447 and $290,004 respectively.