PROPERTY AND EQUIPMENT

9 Months Ended

Sep. 30, 2021

PROPERTY AND EQUIPMENT

NOTE 8 - PROPERTY AND EQUIPMENT

NOTE 8 — PROPERTY AND EQUIPMENT

Property and equipment consist of the following:

	September 30,			December 31,
	2021			2020
DGSE
Land	$	1,640,219		$	720,786
Building and improvements		2,702,292			1,317,906
Leasehold improvements		1,450,694			1,435,742
Machinery and equipment		1,056,315			1,056,315
Furniture and fixtures		526,249			504,430
Vehicles		22,859			22,859
		7,398,628			5,058,038
Less: accumulated depreciation		(2,272,620	)		(2,054,294	)
Sub-Total		5,126,008			3,003,744
ECHG
Building and improvements		74,162			81,149
Machinery and equipment		869,244			220,417
Furniture and fixtures		101,494			93,827
Vehicles		86,609			-
		1,131,509			395,393
Less: accumulated depreciation		(138,404	)		(71,058	)
Sub-Total		993,105			324,335
Envela
Land		1,106,664			1,106,664
Building and improvements		2,456,324			2,456,324
Machinery and equipment		23,676			5,407
		3,586,664			3,568,395
Less: accumulated depreciation		(58,307	)		(7,873	)
Sub-Total		3,528,357			3,560,522
	$	9,647,470		$	6,888,601

On July 30, 2021, DGSE closed the purchase of a new retail building located at 9166 Gaylord Parkway in Frisco, Texas for $2,215,500. The purchase was partly financed through a $1.772 million, 5 year loan, bearing an annual interest rate of 3.75%, amortized over 20 years, payable to Texas Bank and Trust. The note has monthly interest and principal payments of $10,509.