Property, Plant and Equipment

6 Months Ended

Jun. 30, 2019

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

NOTE 4. PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment are comprised of the following:

	June 30, 2019			December 31, 2018
Land	$	880,416		$	880,416
Buildings		4,771,635			4,847,778
Building improvements		755,039			755,039
Machinery and equipment		9,405,020			8,816,880
Office equipment, fixtures and software		525,250			518,806
Transportation assets		654,054			811,378
Construction in progress		338,573			-
		17,329,987			16,630,297
Accumulated depreciation		(9,157,073	)		(8,404,288	)
	$	8,172,914		$	8,226,009

The Company has decided to sell the Company airplane and respective hangar, and we expect a sale to be completed in the next 12 months. Accordingly, these assets are reported as assets held for sale on our balance sheet as of June 30, 2019 at their carrying value, which is lower than the expected fair value less costs to sell.

Depreciation expense related to property, plant and equipment for the three and six months ended June 30, 2019 was $425,410 and $824,849, respectively and for the three and six months ended June 30, 2018 was $330,016 and $654,377, respectively.