Property and Equipment

12 Months Ended

Dec. 31, 2019

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT

Note 6. PROPERTY AND EQUIPMENT

The components of property and equipment at December 31, consisted of the following:

	December 31,			December 31,
	2019			2018
Land	$	300,000		$	300,000
Buildings and Improvements		1,650,000			1,708,000
Machinery and Equipment		12,251,000			11,579,000
Finance Lease Machinery and Equipment		6,495,000			6,495,000
Tools and Instruments		11,021,000			9,882,000
Automotive Equipment		177,000			177,000
Furniture and Fixtures		290,000			303,000
Leasehold Improvements		530,000			520,000
Computers and Software		425,000			425,000
Total Property and Equipment		33,139,000			31,389,000
Less: Accumulated Depreciation		(25,561,000	)		(22,612,000	)
Property and Equipment, net	$	7,578,000		$	8,777,000

Depreciation expense for the years ended December 31, 2019 and 2018 was approximately $3,002,000 and $2,692,000, respectively. Assets held under finance lease obligations are depreciated over the shorter of their related lease terms or their estimated productive lives. Depreciation of assets under finance leases is included in depreciation expense for 2019 and 2018. Accumulated depreciation on these assets was approximately $5,936,000 and $4,827,000 as of December 31, 2019 and 2018, respectively.