Marijuana Company of America, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Property And Equipment

Property And Equipment

12 Months Ended

Dec. 31, 2018

Property, Plant and Equipment [Abstract]

Property and Equipment

NOTE 3 – PROPERTY AND EQUIPMENT

Property and equipment as of December 31, 2018 and 2017 is summarized as follows:

	2018			2017
Computer equipment	$	15,207		$	11,004
Furniture and fixtures		5,140			5,140
Subtotal		20,347			16,144
Less accumulated depreciation		(7,917	)		(2,576	)
Property and equipment, net	$	12,430		$	13,568

Property and equipment are stated at cost and depreciated using the straight-line method over their estimated useful lives of 3 years. When retired or otherwise disposed, the related carrying value and accumulated depreciation are removed from the respective accounts and the net difference less any amount realized from disposition, is reflected in earnings.

Depreciation expense was $5,341 and $2,576 for the year ended December 31, 2018 and 2017.