v3.26.1
Property and Equipment
 12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Property and Equipment

Note 3 – Property and Equipment

 

Property and equipment consisted of the following:

 

   December 31, 2025   December 31, 2024   Estimated Useful Lives (Years)
            
Vehicles  $11,812,831   $10,427,658*  5
Equipment   304,191    304,191   5
Office furniture   129,475    129,475   5
Leasehold improvements   -    -   5
Office equipment   15,934    14,179   5
Property and equipment, gross   12,262,431    10,875,503    
Accumulated depreciation   (5,428,513)   (3,335,996)   
Total property and equipment - net  $6,833,918   $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.

 

See Note 9 regarding related right-of-use operating leases.

 

Depreciation and amortization expense for the years ended December 31, 2025 and 2024, was $2,172,628 and $1,545,806, respectively.

 

During the years ended December 31, 2025 and 2024, the Company recorded an impairment loss of $0 and $13,422, respectively, related to leasehold improvements made to certain leased office space that is no longer used. This impairment loss has been recorded as a component of general and administrative expenses in the accompanying consolidated statements of operation.

 

Depreciation and amortization are included as a component of general and administrative expenses in the accompanying consolidated statements of operations.

 

Impairment losses of property and equipment are included as a component of general and administrative expenses in the accompanying consolidated statements of operations.