Property, Plant & equipment

6 Months Ended

Jun. 30, 2012

Notes to Financial Statements

Note 5. Property, Plant & equipment

	June 30, 2012		Accumulated		June 30, 2012
	Cost		Depreciation		Net
Buildings	$	5,323,217	$	1,911,350	$	3,411,867
Computer hardware		104,964		83,994		20,970
Furniture and fixtures		27,931		21,019		6,912
Office equipment		23,401		19,936		3,465
Manufacturing equipment		5,941,246		2,300,618		3,640,628
Trailer		16,958		12,896		4,062
Technology		134,179		13,418		120,761
Truck		11,678		8,784		2,894
Land		472,184		—		472,184
	$	12,055,758	$	4,372,015	$	7,683,743

	December 31, 2011		Accumulated		December 31, 2011
	Cost		Depreciation		Net
Buildings	$	3,216,859	$	1,731,782	$	1,485,077
Plant under construction and equipment		5,520,598		—		5,520,598
Computer hardware		103,614		80,475		23,139
Furniture and fixtures		27,953		20,268		7,685
Office equipment		23,427		19,573		3,854
Manufacturing equipment		2,447,864		1,900,110		547,754
Trailer		27,447		20,260		7,187
Technology		134,327		—		134,327
Truck		11,691		8,283		3,408
Land		472,485		—		472,485
	$	11,986,265	$	3,780,751	$	8,205,514

Amount of depreciation expense for 2012: $605,728 (2011: $163,345)

The following capitalized costs pertaining to the Company’s new plant in Taber, Alberta are classified as Plant Under Construction and Equipment at December 31, 2011 and included contracted costs and supplies.  The Company began depreciating the Plant and Equipment as of January 1, 2012.

	December 31, 2011 Cost
Building	$	1,040,078
Building improvements		1,068,606
Manufacturing equipment		3,411,914
	$	5,520,598

The following carrying amount of capital assets held by Flexible Solutions Ltd. serves as collateral for the AFSC loan.  (See Note 9b):

Land	$	273,091
Building		983,650
Building improvements		1,014,056
Manufacturing equipment		3,180,178
Trailer		4,061
Truck		2,294
Technology		120,761