Property, plant and equipment

12 Months Ended

Dec. 31, 2019

Property, Plant and Equipment [Abstract]

Property, plant and equipment

Property, plant and equipment

Major classifications of property, plant and equipment are summarized as follows for December 31, 2019 and 2018:

	2019			2018
Land	$	718,586		$	704,567
Building and improvements	13,297,489			9,244,737
Construction in process	2,105,873			6,091,265
Equipment	12,275,619			9,713,030
Office furniture and equipment	201,813			192,606
Vehicles	28,097			26,832
Total property and equipment	$	28,627,477		$	25,973,037
Less accumulated depreciation and amortization	(3,561,641		)	(2,256,269		)
Property, plant and equipment, net	$	25,065,836		$	23,716,768

Depreciation and amortization expense for 2019 on property, plant and equipment was $1.3 million (2018: $830 thousand; 2017: $171 thousand).

During 2019, the Company’s grow-out facility at its Rollo Bay farm was placed in service, and as a result, the Company transferred $5.2 million of construction in process to building and improvements and equipment and commenced deprecation of these assets. Included in construction in process at December 31, 2019, is $1.9 million for construction costs related to the farm site. An additional $257 thousand has been committed.

In June 2017, the Company purchased an aquaculture farm in Indiana, for $14.2 million. Through December 31, 2019, the Company has invested an additional $3.2 million to upgrade the farm and has $227 thousand in construction in process and an additional $216 thousand committed. This farm is operational, although the Company expects that upgrades will continue through 2020.