Note 5 - Property, Plant and Improvements, Net

12 Months Ended

Dec. 31, 2020

Notes to Financial Statements

Property, Plant and Equipment Disclosure [Text Block]

NOTE

5

–

PROPERTY, PLANT AND IMPROVEMENTS, NET

Property and equipment, net consists of the following as of

December 31:

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

Depreciation and amortization expense was

$10,724

and

$18,384

for the years ended

December 31, 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

15

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

8

), 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 year ended

December 31, 2020.