Property and Equipment

9 Months Ended

Sep. 30, 2023

NOTE 5 – PROPERTY AND EQUIPMENT

The following is a summary of property and equipment at September 30, 2023 and December 31, 2022:

	September 30,			December 31,
	2023			2022
Equipment	$	6,586,606		$	6,528,497
Furniture and fixtures		6,981			6,981
Electronic and computer equipment		50,587			50,587
Vehicles		429,866			369,595
Buildings		100,000			100,000
Land and improvements		98,121			105,299
		7,272,161			7,160,959
Less accumulated depreciation		(4,846,659	)		(4,401,690	)
		2,425,502			2,759,269

Kiewit property facilities		2,497,436			2,497,436
Less accumulated amortization		(891,345	)		(888,307	)
		1,606,091			1,609,129
Total	$	4,031,593		$	4,368,398

For the Kiewit property facilities, amortization based on total units of production was $Nil and $Nil for the three-months ended September 30, 2023 and 2022, respectively. There was no production for the three months ended September 30, 2023 and 2022.

For the Kiewit property facilities, amortization based on total units of production was $3,038 and $78,121 for the nine-months ended September 30, 2023 and 2022, respectively.

Depreciation expense on property and equipment for the three-months ended September 30, 2023 and 2022 was $165,700 and $160,619 respectively. Depreciation expense on property and equipment for the nine-months ended September 30, 2023 and 2022 was $494,498 and $513,460, respectively.

Desert Hawk Gold Corp. 10-Q