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v3.24.1.1.u2

Property and Equipment | 3 Months Ended
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Mar. 31, 2024
Property, Plant and Equipment [Abstract] |
Property and Equipment | 4. Property and Equipment At March 31, 2024 and December 31, 2023, property and equipment consisted of the following:
Schedule of property and equipment |  |  |  |  |  |  |  |
|  | 2024 |  | 2023
Machinery and equipment |  | $ | 2,721,589 |  |  | $ | 2,692,473 |
Furniture and fixtures |  |  | 40,299 |  |  |  | 40,299 |
Land |  |  | 1,119,758 |  |  |  | 1,119,758 |
Leasehold improvements |  |  | 1,228,860 |  |  |  | 1,228,860 |
Software and website development |  |  | 300,935 |  |  |  | 300,935 |
Computer hardware and software |  |  | 162,682 |  |  |  | 159,342 |
Boat molds |  |  | 6,404,888 |  |  |  | 5,871,373 |
Vehicles |  |  | 143,360 |  |  |  | 143,360 |
Electric prototypes and tooling |  |  | 142,526 |  |  |  | 142,526 |
Assets under construction |  |  | 4,432,030 |  |  |  | 2,977,894 |
|  |  | 16,696,926 |  |  |  | 14,676,820 |
Less accumulated depreciation and amortization |  |  | (2,805,596 | ) |  |  | (2,382,832 | )
|  | $ | 13,891,330 |  |  | $ | 12,293,988 |
Depreciation and amortization expense of property and equipment for the three months ended March 31, 2024 and 2023 were $425,281 and $218,276, respectively.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-7 + Details
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