Company: SCTH
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001017386-25-000073
Chunk: 2

Company: Securetech Innovations, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 2
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 assets or liabilities.

Inventory and Cost of Sales
 
Inventories are stated at the lower of cost or realizable value, using the weighted average cost method. When an impairment indicator suggests that the carrying amounts of inventories might not be recoverable, the Company reviews such carrying amounts and estimates the net realizable value based on the most reliable evidence available at that time. An impairment loss is recorded if the net realizable value is less than the carrying value. Impairment indicators considered for these purposes are, among others, obsolescence, decrease in market prices, damage, and a firm commitment to sell.
 
Deposits
 
Refundable deposits are carried on the Company’s balance sheet at their fair market refundable value under current assets.
 
Net Loss per Share Calculation
 
Basic net loss per common share is computed by dividing the net loss attributable to common stockholders by the weighted average number of common shares outstanding for the period.   Diluted earnings per share is calculated similarly to basic loss per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive.  SecureTech excludes all potentially dilutive securities from its diluted net loss per share computation since their effect would be anti-dilutive because SecureTech recorded a loss for the three months ended March 31, 2025 and 2024. The Company had no dilutive securities outstanding as of March 31, 2025 and 2024.
 
Property and Equipment and Depreciation
 
Property and equipment are recorded at cost and are depreciated using the straight-line method over their estimated useful lives in years as follows:

                                         Computer software and equipment
2
     -
     15
Furniture, fixtures, and equipment
3
     -
     10
Leasehold improvements
Life of Lease

Repair and maintenance costs are expensed as incurred.  Costs associated with improvements that extend the life, increase the capacity, or improve the efficiency of our property and equipment are capitalized and depreciated over the remaining life of the related asset. Gains and losses on the disposition of equipment are reflected in operations. Depreciation is provided using the straight-line method over the estimated useful lives of the assets. 
 
Depreciation expenses totaled $246 and $245 for the three months ended March 31, 2025 and 2024, respectively. Cumulative depreciation for each asset class is as