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PROPERTY, PLANT AND EQUIPMENT (Tables)
12 Months Ended
Dec. 31, 2021
Property Plant And Equipment [Abstract]  
Property, Plant and Equipment

The following table summarizes property, plant and equipment as of December 31, 2021 and 2020:

 

 

 

As of December 31,

 

 

 

2021

 

 

2020

 

Furniture, fixtures, computer hardware and computer software

 

$

473,448

 

 

$

489,421

 

Manufacturing machinery and equipment

 

 

21,863,624

 

 

 

24,377,755

 

Manufacturing machinery and equipment, in progress

 

 

88,863

 

 

 

-

 

Depreciable property, plant and equipment

 

 

22,425,935

 

 

 

24,867,176

 

Less: Accumulated depreciation and amortization

 

 

(22,146,273

)

 

 

(24,848,408

)

Net property, plant and equipment

 

$

279,662

 

 

$

18,768

 

Schedule of Assets and Liabilities Related to Company's Lease

As of December 31, 2021 and 2020, assets and liabilities related to the Company's lease were as follows:

 

 

As of December 31,

 

 

 

2021

 

 

2020

 

Operating lease right-of-use assets, net

 

$

4,984,688

 

 

$

5,633,663

 

Current portion of operating lease liability

 

 

646,742

 

 

 

575,404

 

Non-current portion of operating lease liability

 

 

4,532,490

 

 

 

5,179,229

 

Schedule Future Maturities of Operating Lease Liability

Future maturities of the operating lease liability are as follows:

 

2022

 

$

988,800

 

2023

 

 

1,018,464

 

2024

 

 

1,049,018

 

2025

 

 

1,080,488

 

2026

 

 

1,112,903

 

Thereafter

 

 

1,146,291

 

Total lease payments

 

$

6,395,964

 

Less amounts representing interest

 

 

(1,216,732

)

Present value of lease liability

 

$

5,179,232