PROPERTY AND EQUIPMENT

12 Months Ended

Dec. 31, 2018

Notes to Financial Statements

NOTE 5 - PROPERTY AND EQUIPMENT

Property and equipment consist of the following at December 31, 2018 and 2017:

Classification	2018			2017
Buildings and improvements	$	5,338		$	5,338
Equipment and machinery		2,943,490			2,908,154
Tractors		2,834,888			3,129,888
Trucks and other vehicles		1,147,304			1,169,805
Total		6,931,020			7,213,185
Less: Accumulated depreciation		(2,439,931	)		(1,113,966	)
Property and equipment, net	$	4,491,089		$	6,099,219

Depreciation expense for the years ended December 31, 2018 and 2017 was $1,435,098 and $1,120,000, respectively.

All property and equipment are pledged to secure loans from Home State Bank and Utica.