Property and equipment, net
|12 Months Ended|
Dec. 31, 2015
|Property, Plant and Equipment [Abstract]|
|Property and equipment, net||
4. Property and equipment, net
Property and equipment, net, consisted of the following as of December 31:
Depreciation expense was $89,064 and $1,298 for the year ended December 31, 2015 and for the period from inception (June 20, 2014) through December 31, 2014, respectively. Building under construction is the 136,750 square foot lead acid battery recycling plant being built in McCarran, NV. Equipment under construction is AquaRefining modules manufactured by the Company to be used in the McCarran, NV recycling plant.
Certain costs necessary to make the recycling facility ready for its intended use have been capitalized, including interest expense on notes payable. Capitalized interest totaled $98,333 and $0 for the year ended December 31, 2015 and period ended December 31, 2014.
The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.
Reference 1: http://www.xbrl.org/2003/role/presentationRef