| Schedule of property, plant and equipment |
Property and equipment at December 31, 2019 and 2018 consisted of the following:
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December 31, 2019
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December 31, 2018
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Equipment
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$
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4,368,196
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$
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1,409,237
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Downhole oil tools
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671,888
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700,000
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Vehicles
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179,867
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151,497
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Furniture, fixtures and other
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47,665
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43,430
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5,267,616
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2,304,164
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Less: accumulated depreciation
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(957,703)
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(306,155)
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$
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4,309,913
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$
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1,998,009
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| Schedule of intangible assets |
Intangible assets at December 31, 2019 and December 31, 2018 consisted of the following:
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Useful
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Life (yr)
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December 31, 2019
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December 31, 2018
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RigHands (Trademark and Formula)
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15
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$
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150,000
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$
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150,000
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MWTS Tradename
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10
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190,000
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190,000
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340,000
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340,000
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Less: impairment
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(190,000)
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—
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Less: accumulated amortization
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(18,758)
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(10,344)
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$
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131,242
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$
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329,656
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