Note 5 - Property, Plant and Equipment

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Property, Plant and Equipment Disclosure [Text Block]

NOTE 5 – PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment are summarized as follows at December 31, 2023 and 2022:

	2023			2022			Estimated Useful Lives (in years)
Furniture and fixtures	$	287,463		$	284,020			3 - 5
Transportation equipment		114,708			114,708			5 - 10
Plant and improvements		526,205			501,334			5
Production equipment		4,569,980			3,997,193			5 - 10
		5,498,356			4,897,255
Accumulated depreciation		(3,033,279	)		(2,872,769	)
	$	2,465,077		$	2,024,486

Included in fixed assets are assets purchased during the planning phase for the construction of a de-conversion facility in Hobbs, New Mexico; these de-conversion facility assets are included in the DUF6 Asset Sale. Although construction of the facility is currently on hold, the Company has determined that these assets continue to have future economic value based on what it considers a strong likelihood that construction of the facility will occur in the future.

Depreciation expense was $160,567 and $185,193 for the years ended December 31, 2023 and 2022, respectively.