Note E - Fixed Assets

3 Months Ended

Mar. 31, 2016

Notes

Note E - Fixed Assets

NOTE E – FIXED ASSETS

Fixed assets consist of the following at March 31, 2016 and December 31, 2015:

	March 31, 2016	December 31, 2015
Vessels and equipment	$         665,323	$         665,323
Computers and peripherals	14,092	14,092
	679,415	679,415
Less: Accumulated depreciation	(381,421)	(355,800)
Fixed Assets - net	$         297,994	$         323,615

Depreciation expense for the three months ended March 31, 2016 and 2015 was $25,621 and $23,351 respectively.