Property, Plant and Equipment, Net

3 Months Ended

Mar. 31, 2016

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment, Net

NOTE 3 – PROPERTY, PLANT AND EQUIPMENT, NET

Property, Plant and Equipment consist of the following at:

March 31, 2016	Cost		Accumulated Depreciation			Net Book Value
Leasehold improvements	$	218,054	$	(25,574	)	$	192,480
Machinery and office equipment		4,189,638		(2,603,347	)		1,586,290
Furniture and fixtures		16,368		(16,322	)		46
Land		273,118		-			273,118
Asset retirement obligation		36,594		(5,937	)		30,657
Office and industrial buildings		1,433,523		(265,315	)		1,168,208
Equipment under capital lease		73,757		(48,046	)		25,710
Construction in process & Spares		371,638		(43,579	)		328,059
Total	$	6,612,689	$	(3,008,121	)	$	3,604,568

December 31, 2015	Cost		Accumulated Depreciation			Net Book Value
Leasehold improvements	$	216,854	$	(23,096	)	$	193,758
Machinery and office equipment		4,190,838		(2,463,173	)		1,727,665
Furniture and fixtures		16,368		(16,068	)		300
Land		273,118		-			273,118
Asset retirement obligation		36,594		(5,549	)		31,045
Office and industrial buildings		1,433,523		(249,001	)		1,184,522
Equipment under capital lease		73,757		(45,412	)		28,345
Construction in process		197,322		-			197,322
Spares		174,316		(34,863	)		139,453
Total	$	6,612,690	$	(2,837,163	)	$	3,775,527

For the three months ended March 31, 2016 and 2016, the Company recognized $171,201 and 167,163, respectively of depreciation expense. At March 31, 2016 and December 31, 2015, machinery and equipment with a cost of $73,757 and accumulated amortization of $48,046 and $45,412 respectively, were under capital lease. During the periods ended March 31, 2016 and December 31, 2015, the Company recognized $2,634, and $10,636 , respectively, of depreciation expense related to these assets under capital lease.