GenTech Holdings Inc (GTEH)

[TimeMoney]

https://backend.otcmarkets.com/otcapi/company/financial-report/196138/content

Property and Equipment
Property and equipment are stated at cost less accumulated depreciation. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets. During the three months quarter ended April 30, 2018, the Company purchased equipment for the mining of cryptocurrency. This equipment is being depreciated over a seven year period. Depreciation expense for the six months ended April 30, 2018 was $493. During the six months ended April 30, 2018, the Company recorded income of $2,562 from the mining of cryptocurrency. This amount is included in Other Income on the Statement of Operations.