Property, Plant and Equipment, Net

12 Months Ended

Dec. 31, 2017

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment, Net

NOTE 4 - PROPERTY, PLANT AND EQUIPMENT, NET

Property, Plant and Equipment consist of the following at:

As of December 31, 2017	Cost		Accumulated Depreciation			Net Book Value
Leasehold improvements	$	218,054	$	(40,635	)	$	177,419
Machinery and office equipment		1,626,379		(1,385,432	)		240,947
Furniture and fixtures		16,368		(16,368	)		-
Land		243,859		-			243,859
Asset retirement obligation		58,363		(9,799	)		48,564
Office and industrial buildings		1,084,899		(271,672	)		813,227
Equipment under capital lease		53,257		(51,355	)		1,902
Total	$	3,301,179	$	(1,775,261	)	$	1,525,918

As of December 31, 2016	Cost		Accumulated Depreciation			Net Book Value
Leasehold improvements	$	218,054	$	(32,029	)	$	186,025
Machinery and office equipment		1,738,414		(1,539,203	)		199,211
Furniture and fixtures		16,368		(16,368	)		-
Land		273,118		-			273,118
Asset retirement obligation		58,363		(7,101	)		51,262
Office and industrial buildings		1,433,523		(312,912	)		1,120,611
Equipment under capital lease		53,257		(43,747	)		9,510
Total	$	3,791,097	$	(1,951,360	)	$	1,839,737

At December 31, 2017 and 2016, the Company recognized $190,009, and $578,108, respectively, of depreciation expense. At December 31, 2017 and 2016, machinery and equipment with a cost of $53,257 and $53,257 and accumulated amortization of $51,355 and $43,746, respectively, were under capital lease. During the periods ended December 31, 2017 and 2016, the Company recognized $7,608, and $7,608, respectively, of depreciation expense related to these assets under capital lease.

At December 31, 2017 and 2016, we recorded impairment loss on deposits and property, plant and equipment of $13,158 and $3,088,315, respectively in accordance to ASC 360-10-50-2 where an impairment loss will be recognized only if the carrying amount of the long-lived assets are not recoverable and exceeds its fair value. The charge in 2017 relates specifically to the sale of the 1783 Allanport property. The charges in 2016 relates to impairment of the reactors for Processor #2 and #3 which will be used for customer demonstration, spare parts for Processor #2 and #3,deposits and construction in progress materials for Processor #4 and #5.

At December 31, 2016, $257,865 of land, office and industrial building were classified as property,plant and equipment, net – held for sale. On March 31, 2017, the Company sold the land, office and industrial building.