Note 4 - Property, Plant and Improvements, Net

9 Months Ended

Sep. 30, 2021

Notes to Financial Statements

Property, Plant and Equipment Disclosure [Text Block]

NOTE 4 - PROPERTY, PLANT AND IMPROVEMENTS, NET

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

	September 30,
	2021
Computers and equipment	$	62,574
Furniture and fixtures		32,900
Leasehold improvements		19,208
		114,682
Less: accumulated depreciation and amortization		10,857
Net property and equipment	$	103,825

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 13). All property, plant, and improvements, including the previously held equipment that had secured the Global Holdings International, LLC loan, 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. Accordingly, there was no property and equipment held prior to the CCM acquisition on July 9, 2021.

Depreciation expense was $10,968 and $1,532 for the three-months ended September 30, 2021 and 2020, respectively, and $10,968 and $10,724 for the nine months ended September 30, 2021 and 2020, respectively.