Quarterly report pursuant to Section 13 or 15(d)

Property, Plant and Equipment

v3.19.3
Property, Plant and Equipment
 9 Months Ended
Sep. 30, 2019
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment
Property, Plant and Equipment

Property, plant and equipment at September 30, 2019 and December 31, 2018 consisted of the following:
 
Estimated Useful
Life (in Years)
 
September 30, 2019
 
December 31, 2018
Energy systems
1 - 15 years
 
$
4,372,639

 
$
12,709,990

Machinery and equipment
5 - 7 years
 
1,440,207

 
1,355,617

Furniture and fixtures
5 years
 
193,697

 
222,542

Computer software
3 - 5 years
 
192,865

 
200,626

Leasehold improvements
*
 
450,792

 
450,792

 
 
 
6,650,200

 
14,939,567

Less - accumulated depreciation and amortization
 
 
(3,046,491
)
 
(3,666,452
)
 
 
 
$
3,603,709

 
$
11,273,115

* Lesser of estimated useful life of asset or lease term
Depreciation and amortization expense on property and equipment for the three and nine months ended September 30, 2019 and 2018 was $180,662 and $686,880 and $404,315 and $1,234,731, 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.