Quarterly report pursuant to Section 13 or 15(d)

Fixed Assets

v3.22.2.2
Fixed Assets
 6 Months Ended
Jun. 30, 2022
Property, Plant and Equipment [Abstract]  
Fixed Assets

Note 4. Fixed Assets

 

Fixed asset, net, as of June 30, 2022 and December 31, 2021, are summarized as follows:

 

    June 30, 2022     December 31, 2021  
Website   $ 16,600     $ 16,600  
Machinery and equipment     4,352,633       3,778,766  
Fixed asset, gross     4,369,233       3,795,366  
Less: accumulated depreciation     (188,134 )     (32,034 )
Fixed asset, net   $ 4,181,099     $ 3,763,332  

 

Depreciation expense of fixed assets for the six months ended June 30, 2022 and 2021 was $156,100 and $3,500, respectively.

 

During the six months ended June 30, 2022, the Company recorded $63,512 in fixed asset costs relating to the estimated fair market value for options granted in 2021 for the acquired machinery. As of June 30, 2022, the Company has $100,000 in remaining payments for machinery purchased, which is included in accounts payable and accrued expenses.

 

 

SHARPS TECHNOLOGY, INC.

NOTES TO THE CONDENSED FINANCIAL STATEMENTS

FOR THE SIX MONTHS ENDED JUNE 30, 2022 AND 2021

(Unaudited)