Property, Plant and Equipment

12 Months Ended

Dec. 31, 2018

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

NOTE 5 – PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment are summarized as follows at December 31, 2018 and 2017:

	2018		2017		Estimated Useful Lives
Furniture and fixtures	$	196,242	$	175,387	3 - 5 years
Transportation equipment		122,874		122,874	5 - 10 years
Plant and improvements		496,154		496,154	5 years
Production equipment		3,557,717		3,510,389	5 - 10 years
		4,372,987		4,304,804
Accumulated depreciation		(2,466,805)		(2,369,269)
	$	1,906,182	$	1,935,535

Included in fixed assets are assets purchased during the planning phase for the construction of a de-conversion facility in Hobbs, New Mexico.  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 $102,444 and $108,434 for the years ended December 31, 2018 and 2017, respectively.