Annual report pursuant to Section 13 and 15(d)

Fixed Assets

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Fixed Assets
 12 Months Ended
Dec. 31, 2017
Property, Plant and Equipment [Abstract]  
Fixed Assets

3. FIXED ASSETS

 

Fixed assets consist of the following:

 

    December 31,  
    2017     2016  
EV charging stations   $ 4,275,008     $ 4,687,294  
Software     579,630       464,997  
Automobiles     132,751       132,751  
Office and computer equipment     125,992       125,992  
Leasehold improvements     18,715       -  
Machinery and equipment     71,509       71,509  
      5,203,605       5,482,543  
Less: accumulated depreciation     (4,826,685 )     (4,726,861 )
Fixed assets, net   $ 376,920     $ 755,682  

 

Depreciation and amortization expense related to fixed assets was $402,279 and $851,516 for the years ended December 31, 2017 and 2016, respectively, of which $380,309 and $805,607, respectively, was recorded within cost of sales in the accompanying consolidated statements of operations.

 

During the years ended December 31, 2017 and 2016, the Company disposed of fixed assets with a net book value of $803 and $17,557 which resulted in a loss on disposal of $803 and $17,557, respectively, which was included within other expense in the consolidated statements of operations.