Movement Industries Corp (MVNT)

[EHRjunkie]

This is a press release from MVNT about a 350K investment. It should be on the balance sheet in the annual report 2020 or in the operating expenses ("all purchased equipment was expensed.."). Am I making a mistake? Thanks


Announces Year-End Capital Expenditure

Purchases Over $350,000 of New Computer Numerical Control Machines and Fabrication Equipment

Houston, TX, Jan. 07, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Movement Industries Corporation (OTC PINK: MVNT) (the “Company”) announced today that it invested over $350,000 in new Computer Numerical Control (“CNC”) machines and used fabrication machines during the last week of 2019. The CNC machines were purchased through Velocity Manufacturing to increase its production capacity to meet anticipated future demand based on its 2019 growth rate and existing sales pipeline. The fabrication machinery was purchased for the Company’s new process solutions division, which is expected to receive its initial purchase orders in the first quarter of the 2020 calendar year. All purchased equipment was expensed and will not be amortized for tax purposes.

https://mvmnt.in/announces-year-end-capital-expenditure/