Quarterly report pursuant to Section 13 or 15(d)

Property, Plant and Equipment

v3.19.1
Property, Plant and Equipment
 3 Months Ended
Mar. 31, 2019
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment
Property, Plant and Equipment

Property, plant and equipment at March 31, 2019 and December 31, 2018 consisted of the following:
 
Estimated Useful
Life (in Years)
 
March 31, 2019
 
December 31, 2018
Energy systems
1 - 15 years
 
$
4,372,638

 
$
12,709,990

Machinery and equipment
5 - 7 years
 
1,391,354

 
1,355,617

Furniture and fixtures
5 years
 
222,542

 
222,542

Computer software
3 - 5 years
 
192,865

 
200,626

Leasehold improvements
*
 
450,792

 
450,792

 
 
 
6,630,191

 
14,939,567

Less - accumulated depreciation and amortization
 
 
(2,705,240
)
 
(3,666,452
)
 
 
 
$
3,924,951

 
$
11,273,115

* Lesser of estimated useful life of asset or lease term
Depreciation and amortization expense on property and equipment for the three months ended March 31, 2019 and 2018 was $341,862 and $402,336, respectively.

In March 2019, the Company sold certain energy systems related assets and related energy production contracts. See Note 6. Sale of Energy Producing Assets and Goodwill Impairment for further discussion.