Property and Equipment, net

6 Months Ended

Jun. 30, 2021

Property, Plant and Equipment [Abstract]

Property and Equipment, net

Note 7. Property and Equipment, net

Property and equipment, net, was comprised of the following:

	June 30, 2021			December 31, 2020
Office equipment	$	38,481		$	34,071
Software		13,204			13,204
Furniture and Fixtures		2,328			-
Machinery and Equipment		329,992			-
Leasehold Improvements		115,808			-
Property and equipment, gross	$	499,813		$	47,275
Less: Accumulated Depreciation		(31,597	)		(22,621	)
Property and equipment, net	$	468,216		$	24,654

As part of the Naturaleaf Asset Acquistion, the Company acquired $92,535 in fixed assets consisting of machinery and equipment and leasehold improvements. During the six months ended June 30, 2021, the Company purchased office equipment in the amount of $1,576 and has made purchases of machinery and equipment of $308,438 in order to upgrade operations at the new cultivation facilities and has spent $50,000 in leasehold improvements at the cultivation facilities.