PROPERTY AND EQUIPMENT, NET

9 Months Ended

12 Months Ended

Sep. 30, 2024

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT, NET

NOTE 4 – PROPERTY AND EQUIPMENT, NET

Property and equipment consisted of the following as of September 30, 2024 and December 31, 2023:

	September 30,			December 31,
	2024			2023
Containers	$	4,715,423		$	1,740,393
Trucks and tractors		7,311,880			4,388,091
Trailers		1,033,259			1,033,259
Shop equipment		49,182			40,380
Furniture		16,843			-
Leasehold improvements		147,766			33,934
		13,274,353			7,236,057
Less accumulated depreciation		(2,074,129	)		(1,455,310	)
Net book value	$	11,200,224		$	5,780,747

Depreciation expense for the three and nine months ended September 30, 2024 were $333,996 and $633,930, respectively. Depreciation expense for the three and nine months ended September 30, 2023 were $125,000 and $316,957, respectively.

NOTE 4 – PROPERTY AND EQUIPMENT, NET

Property and equipment consist of the following as of December 31, 2023 and 2022:

	December 31,			December 31,
	2023			2022
Containers	$	1,740,393		$	1,397,311
Trucks and tractors		4,388,091			4,086,968
Trailers		1,033,259			1,197,357
Shop equipment		40,380			40,380
Leasehold improvements	$	33,934		$	19,589
		7,236,057			6,741,605
Less accumulated depreciation		(1,455,310	)		(1,097,664	)
Net book value	$	5,780,747		$	5,643,941

Depreciation expenses for the years ended December 31, 2023 and 2022 were $424,363 and $325,382, respectively.

On June 10, 2022, Titan Trucking entered into an asset purchase agreement with Century Waste Management (“Century”) for consideration of approximately $1,805,000. The entire purchase price agreement was allocated as fair value to the equipment acquired; no goodwill or intangible assets were determined to be transferred as part of the sale. In order to fund the asset purchase from Century, Titan entered into several private equipment financing agreements (Note 9 – Notes Payable).