Note 5 - Property, Plant and Equipment

9 Months Ended

Mar. 31, 2022

Notes to Financial Statements

Property, Plant and Equipment Disclosure [Text Block]

NOTE 5. PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment consisted of the following as of March 31, 2022 and June 30, 2021:

	March 31,			June 30,
	2022			2021
Plant and equipment(1)	$	2,277,545		$	2,147,617
Furniture and office equipment		248,180			246,697
Vehicles		425,396			613,891
Land and building		608,721			412,681
Total property, plant and equipment		3,559,842			3,420,886
Accumulated depreciation (2)		(2,000,690	)		(1,847,441	)
Total property and equipment, net	$	1,559,152		$	1,573,445

(1) Included with plant and equipment as of March 31, 2022 are the underlying assets of the solar energy finance lease stated at present value as of the date of acquisition by Gourmet Foods totaling $153,807. 

(2) Included with accumulated depreciation is the amortization of the underlying assets of the solar energy finance lease at Gourmet Foods, which totaled $4,214 as of March 31, 2022.

For the three and nine months ended March 31, 2022 depreciation expense for property, plant and equipment totaled $59,145 and $187,978, respectively, as compared to $96,663 and $268,535 for the three and nine months ended March 31, 2021.