v3.26.1
Property and Equipment, net
 6 Months Ended
Jun. 30, 2026
Property, Plant, and Equipment [Abstract]  
Property and Equipment, net

Note 6 – Property and Equipment, net

 

Property and equipment consist of assets with an estimated useful life greater than one year. Property and equipment are reported net of accumulated depreciation, and the reported values are periodically assessed for impairment. Property and equipment as of:

      
   June 30,
2026		  December 31,
2025
Computer equipment  $595,189   $35,973 
Motor production equipment   1,822,730    2,083,354 
Office equipment   231,644    – 
Tenant improvements   203,574    149,280 
Total Property and Equipment   2,853,137    2,268,607 
           
Accumulated depreciation   (141,762)   (34,716)
Total property and equipment, net  $2,711,375   $2,233,891 

 

Depreciation expense totaled $97,004 and $342 for the six months ended June 30, 2026 and 2025, respectively. A total of $74,133 and $0 of depreciation expense was recorded to cost of goods sold in related to the production of motors for the six months ended June 30, 2026 and 2025, respectively. The Company has paid deposits of approximately $2.8 million related to the purchase of motor production equipment and $47,494 related to tenant improvements, which is included in Other non-current Assets. These assets are expected to be received and placed into service during the third and fourth quarters of 2026.