Property and Equipment, Net

9 Months Ended

Sep. 30, 2020

Property Plant And Equipment [Abstract]

3. Property and Equipment, Net

On February 3, 2020, the Company purchased substantially all of the assets of Ebus, Inc. (“Ebus”) at a foreclosure sale via a credit bid (see Note 4). In March 2020, the Company obtained possession of certain of these assets, with an estimated fair-market value of approximately $22,440. These assets have been recorded as “Machinery & equipment” on the schedule below.

Components of property and equipment, net, consist of the following as of September 30, 2020 and December 31, 2019:

	September 30			December 31,
	2020			2019
Furniture and fixtures	$	41,799		$	41,799
Leasehold improvements		35,042			23,338
Computers		59,668			59,667
Machinery & equipment		22,440			—
Vehicles		72,299			72,299
Test/Demo vehicles		15,784			15,784
Total property and equipment	$	247,032		$	212,887
Less accumulated depreciation		(135,980	)		(101,044	)
Net property and equipment	$	111,052		$	111,843

Depreciation expense was $11,246 and $12,562 for the three months ended September 30, 2020 and 2019, respectively, and $34,936 and $35,914 for the nine months ended September 30, 2020 and 2019, respectively.