Note 6 - Property, Plant and Improvements, Net

12 Months Ended

Dec. 31, 2021

Notes to Financial Statements

Property, Plant and Equipment Disclosure [Text Block]

NOTE 6 – PROPERTY, PLANT AND IMPROVEMENTS, NET

Property and equipment, net consists of the following as of December 31, 2021:

Computers and equipment	$	67,077
Furniture and fixtures		33,063
Leasehold improvements		19,304
Total property, plant, and improvements		119,444
Accumulated depreciation		22,041
Net property, plant and improvements	$	97,403

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

Depreciation expense was $22,164 and $10,724 for the years ended December 31, 2021 and 2020, respectively.