| Schedule of Property and Equipment |
Property
and equipment consisted of the following:
Schedule of Property and Equipment
| | |
| |
| |
Estimated Useful |
| | |
June 30, 2025 | |
December 31, 2024 | |
Lives (Years) |
| Vehicles | |
$ | 10,455,715 | * | |
$ | 10,427,658 | | |
5 |
| Equipment | |
| 304,192 | | |
| 304,192 | | |
5 |
| Office furniture | |
| 129,475 | | |
| 129,475 | | |
5 |
| Office equipment | |
| 9,471 | | |
| 9,471 | | |
5 |
| Property and equipment, gross | |
| 10,898,853 | | |
| 10,870,796 | | |
|
| Accumulated depreciation | |
| (4,398,558 | ) | |
| (3,331,289 | ) | |
|
| Total property and equipment - net | |
$ | 6,500,295 | | |
$ | 7,539,507 | | |
|
Asset
Purchase – Vehicles - Shell
| * |
In
2024, the Company executed an asset purchase agreement with Shell Retail and Convenience Operations, d/b/a Shell TapUp and d/b/a Instafuel
(“Shell”) to purchase 73 vehicles ($5,139,877)
and above ground storage tanks ($80,000)
as part of a growth and expansion plan, for a total purchase price of $5,219,877.
The Company began its Shell related operations in January 2025, and at that time placed these assets into service. These vehicles have
a useful life of five years. |
|