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NOTE 5 - PROPERTY AND EQUIPMENT
12 Months Ended
Dec. 31, 2021
Property, Plant and Equipment [Abstract]  
NOTE 5 - PROPERTY AND EQUIPMENT

NOTE 5 - PROPERTY AND EQUIPMENT

 

As of December 31, 2021 and 2020, property and equipment consisted of the following:

 

   Motor Vehicles  Computer Equipment  Office Equipment  Total
Cost                   
At December 31, 2020  $64,033   $12,962   $632   $77,627
Additions         18,630          18,630
Effects of currency translation   (457)   (92)   (3)   (552)
At December 31, 2021   63,576    31,500    629    95,705
                    
Less accumulated depreciation                   
At December 31, 2020   7,380    5,316    158    12,854
Depreciation expense   6,764    6,432    126    13,322
Effects of currency translation   (52)   (38)   (1)   (91)
At December 31, 2021   14,092    11,710    283    26,085
                    
Net book value                   
At December 31, 2021   49,484    19,790    346    69,620
At December 31, 2020  $56,653   $7,646   $474   $64,773

 

                   
    Motor Vehicles    Computer Equipment    Office Equipment    Total
Cost                   
At December 31, 2019   61,631    16,312    377   $78,320
Additions         1,563    241    1,804
Disposals         (5,234)         (5,234)
Effects of currency translation   2,402    321    14    2,737
At December 31, 2020   64,033    12,962    632    77,627
                    
Less accumulated depreciation                   
At December 31, 2019   547    1,849    30    2,426
Depreciation expense   6,312    3,307    127    9,746
Effects of currency translation   521    160    1    682
At December 31, 2020   7,380    5,316    158    12,854
                    
Net book value                   
At December 31, 2020   56,653    7,646    474    64,773
At December 31, 2019   61,084    14,463    347   $75,894

 

During the year ended December 31, 2021 and 2020, the Company recorded additions of $18,630 and $1,804, respectively, and depreciation expense of $13,322 and $9,746, respectively. There were no impairment or disposals of property and equipment.