Note 3 - Property, Plant and Improvements, Net

9 Months Ended

Sep. 30, 2020

Notes to Financial Statements

Property, Plant and Equipment Disclosure [Text Block]

NOTE

3

– PROPERTY, PLANT AND IMPROVEMENTS, NET

Property and equipment, net consists of the following as of:

	September 30, 2020		December 31, 2019
Leasehold improvements	$	-	$	166,163
Furniture and equipment		-		17,668
Accumulated depreciation		-		(35,706	)
Net property, plant and improvements	$	-	$	148,125

Depreciation expense was

$1,532

and

$4,596

for the

three

-months ended

September 30, 2020

and

2019,

respectively, and

$10,724

and

$13,788

for each of the

nine

months ended

September 30, 2020

and

2019,

respectively.

Effective

August 1, 2020,

the Company terminated both their operating lease at

20

North Rear Road with Jamsyl Group, a

third

-party, and abandoned their office space under operating lease with RN Holdings Ltd, a

third

-party, in Windsor, Ontario (Note

12

). All property, plant, and improvements, including the previously held equipment that had secured the Global Holdings International, LLC loan (Note

6

), were located at these locations and, with the exception of proceeds of

$1,801

from sales of associated assets, all remaining property, plant, and improvements were abandoned resulting in a loss on disposal of

$135,600

for the

three

and

nine

-months ended

September 30, 2020.