Note 6 - Property, Plant and Equipment, Net

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Property, Plant and Equipment Disclosure [Text Block]

 

6.

      PROPERTY, PLANT AND EQUIPMENT, NET

Property, plant and equipment are recorded at cost and depreciated over their useful lives. Maintenance and repair costs are expenses as incurred. Property, plant and equipment are as follows:

	December 31, 2019		December 31, 2018
Land	$	228,872	$	257,205
Buildings and Improvements		1,837,009		1,709,165
Machinery & Equipment		13,950,444		13,343,878
Total Property, Plant & Equipment		16,016,325		15,310,248
Less: Accumulated Depreciation		3,622,153		2,006,133
Property Plant & Equipment, Net	$	12,394,172	$	13,304,115

Depreciation expense and other adjustments to accumulated depreciation expense are as follows:

	December 31, 2019			December 31, 2018
Accumulated depreciation, beginning balance	$	2,006,133		$	4,242,913
Depreciation expense		1,645,829			1,042,312
Disposals		(29,809	)		(3,279,092	)
Accumulated depreciation ending balance	$	3,622,153		$	2,006,133