v3.25.2
Property and Equipment
3 Months Ended
Mar. 31, 2025
Property, Plant and Equipment [Abstract]  
Property and Equipment

Note 4 – Property and Equipment

 

Property and equipment consist of the following:

 

        
   March 31,  December 31,
   2025  2024
Marine Equipment  $188,351   $181,675 
Furniture and Fixtures   5,672    5,672 
Total Property and Equipment   194,023    187,347 
Less: Accumulated Depreciation   (57,764)   (50,814)
Property and Equipment, Net  $136,259   $136,533 

 

Depreciation expense was $6,950 and $6,712 for the three months ended March 31, 2025 and 2024.

 

Marine equipment is subject to an operating lease agreement ending on December 31, 2025. See Note 6 for more information.