6. Long-lived Assets, net

March 31,

December 31,

2022

2021

Cost

Accumulated
depreciation

Net book value

Net book value

Land

3,429,638

3,380,356

Property under construction

2,648,438

1,874,892

Composting buildings

2,426,605

652,792

1,773,813

1,784,200

Gore cover system

1,126,840

484,832

642,008

660,549

Driveway and paving

370,939

134,774

236,165

240,083

Machinery and equipment

416,536

360,023

56,513

64,282

Equipment under capital lease

509,871

396,811

113,060

134,487

Office trailer

9,604

Vacuum trailer

6,002

4,952

1,050

1,479

Computer equipment

7,073

Signage

6,614

2,970

3,644

3,918

Automotive equipment

176,193

52,858

123,335

134,587

11,134,353

2,106,689

9,027,664

8,278,833

On August 17 2021, the Company acquired the Hamilton Property assets, consisting of land, a vacant building and ECAs. The total purchase price including costs of acquisition of $175,615 (C$221,680) totaled $3,590,773 (C$4,532,633). The costs of acquisition, were settled through cash payments of $119,094 (C$150,333) and the issuance of 200,000 common shares valued based on the trading price on the issuance date at $56,521 (C$71,347) to a consultant who assisted on the closing of the transaction. The issuance of common shares is also noted under capital stock, note 12, common shares issued for professional services. The purchase of the Hamilton Property was funded by cash of $396,364 (C$500,333), the issuance of 300,000 common shares to the vendor on closing, having a value based on the trading price on the issuance date of $84,781 (C$107,020), the issuance noted above of 200,000 common shares to a consultant who assisted on the closing of the transaction disclosed as part of common shares issued for professional services, under capital stock, note 12, a vendor take-back 1st mortgage of $1,584,400 (C$2,000,000) and a portion of the increased existing 1st mortgage of $1,468,686 (C$1,853,933), disclosed under note 8 (d) ii), long-term debt. The cost of the purchase price was allocated ratably over the estimated fair value of each long-lived asset acquired, land of $1,724,979 (C$2,177,442), included above under land and building $1,556,002 (C$1,964,141), described above as property under construction.

Also included under property under construction, are construction costs incurred subsequent to the acquisition in the amount of $1,097,724 (C$1,371,641).