| Property & Equipment |
Note 5 - Property & Equipment
As of September 30, 2021 and December 31, 2020, property and equipment consisted of the following:
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As of |
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As of |
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September 30, |
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December 31, |
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2021 |
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2020 |
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Plant and equipment |
$ |
6,145,822 |
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|
$ |
5,507,377 |
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Furniture and fixtures |
|
38,751 |
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|
|
35,421 |
|
Leasehold improvements |
|
2,022,745 |
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|
|
1,922,332 |
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Website |
|
111,002 |
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|
|
111,002 |
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Land |
|
242,333 |
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|
|
242,333 |
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Building |
|
1,399,200 |
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|
|
1,399,200 |
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Total cost |
|
9,959,853 |
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|
|
9,217,665 |
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Less accumulated depreciation |
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(3,291,178 |
) |
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|
(2,372,533 |
) |
Property and equipment, net |
$ |
6,668,675 |
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|
$ |
6,845,132 |
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Depreciation expense for the nine months ended September 30, 2021 and 2020 was $1,009,192 and $962,296 respectively. Depreciation expense for the three months ended September 30, 2021 and 2020, was $341,707 and $315,000 respectively.
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