Odyssey Semiconductor, Inc. General form of registration statement for all companies including face-amount certificate companies

General form of registration statement for all companies including face-amount certificate companies

Property and Equipment

Property and Equipment

3 Months Ended

12 Months Ended

Mar. 31, 2022

Dec. 31, 2021

Property, Plant and Equipment [Abstract]

Property and Equipment

Note 4 – Property and Equipment

Property and equipment consisted of the following:

Schedule of property and equipment
	March 31, 2022			December 31, 2021

Computer and office equipment	$	2,807		$	2,807
Lab equipment		15,606			15,606
Furniture		43,705			43,705
Leasehold improvements		543,118			450,374
Machinery		657,017			627,641
Subtotal		1,262,254			1,140,133
Accumulated Depreciation		(329,083	)		(286,842	)

Property and Equipment, net	$	933,171		$	853,290

Depreciation and amortization expense related to property and equipment was approximately $42,000 and $40,000 for the three months ended March 31, 2022 and 2021, respectively.

Note 4 – Property and Equipment

Property and equipment consisted of the following:

Schedule of property and equipment
	December 31, 2021			December 31, 2020

Computer and office equipment	$	2,807		$	2,807
Lab equipment		15,606			15,606
Furniture		43,705			43,705
Leasehold improvements		450,374			422,318
Machinery		627,641			623,190
Subtotal		1,140,132			1,107,626
Accumulated Depreciation		(286,842	)		(121,219	)

Property and Equipment, net	$	853,290		$	986,407

Depreciation and amortization expense related to property and equipment was approximately $166,000 and $111,000 for the years ended December 31, 2021 and 2020, respectively. For the year ended December 31, 2021, depreciation expense of approximately $36,000 was recorded within cost of sales, $29,000 recorded within general and administrative expenses, and $101,000 recorded within research and development. For the year ended December 31, 2020, depreciation expense of approximately $52,000 was recorded within cost of sales, $26,000 recorded within general and administrative expenses, and $23,000 recorded within research and development.