Fixed Assets, net

6 Months Ended

Jun. 30, 2021

Property, Plant and Equipment [Abstract]

Fixed Assets, net

Note 4: Fixed Assets, net 

Fixed assets at June 30, 2021 and December 31, 2020 are summarized in the table below:

Description	Useful Life (Years)		June 30,  2021			December 31, 2020
Building		30	$	3,040,000		$	3,040,000
Machinery and Equipment		3 - 7		6,109,153			5,633,265
Furniture and Fixtures		7		160,012			160,012
Automobile		5		9,500			9,500
Leasehold Improvements		7 - 15		342,330			342,330
Total Fixed Assets				9,660,995			9,185,107
Less: Accumulated Depreciation				(4,419,013	)		(3,571,870	)
Land				460,000			460,000
Construction In Progress - Equipment, net of impairment of $1,115,560				3,839,239			3,513,356
Fixed Assets, net			$	9,541,221		$	9,586,593

Depreciation expense for the three months ended June 30, 2021 and 2020 was approximately $439,000 and $396,000, respectively; and for the six months ended June 30, 2021 and 2020, depreciation expense was approximately $847,000 and $780,000, respectively.