Annual report pursuant to Section 13 and 15(d)

Property & Equipment, net

v3.24.1
Property & Equipment, net
12 Months Ended
Dec. 31, 2023
Property, Plant and Equipment [Abstract]  
Property & Equipment, net

Note 6 - Property & Equipment, net

As of December 31, property and equipment consisted of the following:

 

As of

 

 

As of

 

 

December 31,

 

 

December 31,

 

 

2023

 

 

2022

 

 

 

 

 

 

 

Plant and equipment

$

8,219,929

 

 

$

7,649,405

 

Furniture and fixtures

 

26,246

 

 

 

42,825

 

Leasehold improvements

 

4,265,380

 

 

 

4,537,488

 

Website

 

111,002

 

 

 

111,002

 

Land

 

242,333

 

 

 

242,333

 

Building

 

1,399,200

 

 

 

1,399,201

 

Total cost

 

14,264,090

 

 

 

13,982,254

 

Less accumulated depreciation

 

(7,113,314

)

 

 

(5,165,681

)

Property and equipment, net

$

7,150,775

 

 

$

8,816,573

 

 

Depreciation expense for the years ended December 31, 2023 and 2022 was $1,978,760 and $1,718,739 respectively.