5. PROPERTY, PLANT & EQUIPMENT

3 Months Ended

Mar. 31, 2017

Notes to Financial Statements

5. PROPERTY, PLANT & EQUIPMENT

5.           Property, Plant & equipment

	March 31, 2017		Accumulated		March 31, 2017
	Cost		Depreciation		Net
Buildings	$	3,164,847	$	2,333,427	$	831,420
Computer hardware		40,904		38,913		1,991
Furniture and fixtures		17,673		9,934		7,739
Manufacturing equipment		2,430,642		2,005,424		425,218
Boat		34,400		10,871		23,529
Leasehold Improvements		85,432		19,691		65,741
Land		358,085		-		358,085
	$	6,131,983	$	4,418,260	$	1,713,723

	December 31, 2016		Accumulated		December 31, 2016
	Cost		Depreciation		Net
Buildings	$	4,762,094	$	2,967,370	$	1,794,724
Computer hardware		89,480		85,784		3,696
Furniture and fixtures		32,439		23,142		9,297
Office equipment		17,745		16,788		957
Manufacturing equipment		5,236,404		4,102,635		1,133,769
Trailer		12,859		12,250		609
Boat		34,400		9,632		24,768
Leasehold improvements		85,432		15,419		70,013
Technology		101,748		101,748		-
Land		356,111		-		356,111
	$	10,728,712	$	7,334,768	$	3,393,944

Amount of depreciation expense for three months ended March 31, 2017: $76,265 (2016: $127,896) and is included in cost of sales in the unaudited interim condensed consolidated statements of comprehensive income (loss).

In February 2017, the Company lost a net carrying value total of $2,196,722CAD ($1,659,404USD) in building and manufacturing equipment in a fire at the Taber, AB location. Insurance was in place. During the quarter ended March 31, 2017, the Company was approved for interim insurance proceeds of $5,570,000CAD ($4,207,578USD). $1,570,531USD of the insurance proceeds was receivable at March 31, 2017 and was collected subsequent to the quarter end.