5. PROPERTY, PLANT & EQUIPMENT

6 Months Ended

Jun. 30, 2017

Notes to Financial Statements

5. PROPERTY, PLANT & EQUIPMENT

	June 30, 2017		Accumulated		June 30, 2017
	Cost		Depreciation		Net
Buildings	$	3,164,847	$	2,354,745	$	810,102
Computer hardware		40,904		39,075		1,829
Furniture and fixtures		17,673		10,341		7,332
Office equipment		419		21		398
Manufacturing equipment		2,448,856		2,028,461		420,395
Trailer		9,245		693		8,552
Boat		34,400		12,109		22,291
Leasehold Improvements		85,432		23,963		61,469
Land		363,284		-		363,284
	$	6,165,060	$	4,469,408	$	1,695,652

	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 the six months ended June 30, 2017: $127,318 (2016: $261,072) 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 along with $367,331CAD ($277,482USD) in inventory in a fire at the Taber, AB location.  During the six months ended June 30, 2017, the Company received interim insurance proceeds of $5,570,000CAD ($4,207,578USD) and incurred fire related clean up costs in the amount of $642,936CAD ($480,536USD).  An after-tax gain of $2,245,718 is included as other income in the Condensed Interim Consolidated Statement of Operations and Comprehensive Income (Loss).