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PROPERTY AND EQUIPMENT NET | 6 Months Ended
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Jun. 30, 2024
PROPERTY AND EQUIPMENT NET |
PROPERTY AND EQUIPMENT | NOTE 6 — PROPERTY AND EQUIPMENT, NET The following table summarizes the details of the Company’s property and equipment, net:
|  |  |  |  |  |  |  |  |  |  | Adjusted |
|  | June 30, |  |  | December 31, |  |  |  |  |  | December 31, |
|  | 2024 |  |  | 2023 |  |  | Reclassification |  |  | 2023 |
Consumer |  |  |  |  |  |  |  |  |  |  |  |
Land |  | $ | 1,824,892 |  |  | $ | 1,824,892 |  |  | $ | - |  |  | $ | 1,824,892 |
Building and improvements |  |  | 4,409,143 |  |  |  | 4,126,507 |  |  |  | (1,443,207 | ) |  |  | 2,683,300 |
Leasehold improvements |  |  | 1,516,648 |  |  |  | 1,450,695 |  |  |  | - |  |  |  | 1,450,695 |
Furniture and fixtures |  |  | 987,853 |  |  |  | 802,058 |  |  |  | (101,226 | ) |  |  | 700,832 |
Machinery and equipment |  |  | 1,276,322 |  |  |  | 1,224,783 |  |  |  | (3,215 | ) |  |  | 1,221,568 |
Vehicles |  |  | 22,859 |  |  |  | 22,859 |  |  |  | - |  |  |  | 22,859 |
Construction in progress (1) |  |  | 83,773 |  |  |  | - |  |  |  | 1,547,648 |  |  |  | 1,547,648 |
|  |  | 10,121,490 |  |  |  | 9,451,794 |  |  |  | - |  |  |  | 9,451,794 |
Less: accumulated depreciation |  |  | (3,104,314 | ) |  |  | (2,946,727 | ) |  |  | - |  |  |  | (2,946,727 | )
Sub-total |  |  | 7,017,176 |  |  |  | 6,505,067 |  |  |  | - |  |  |  | 6,505,067 |
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Leasehold improvements |  |  | 151,647 |  |  |  | 151,647 |  |  |  | - |  |  |  | 151,647 |
Furniture and fixtures |  |  | 145,950 |  |  |  | 145,950 |  |  |  | - |  |  |  | 145,950 |
Machinery and equipment |  |  | 1,250,953 |  |  |  | 1,142,731 |  |  |  | (48,979 | ) |  |  | 1,093,752 |
Vehicles |  |  | 222,232 |  |  |  | 222,232 |  |  |  | - |  |  |  | 222,232 |
Construction in progress (2) |  |  | - |  |  |  | - |  |  |  | 48,979 |  |  |  | 48,979 |
|  |  | 1,770,782 |  |  |  | 1,662,560 |  |  |  | - |  |  |  | 1,662,560 |
Less: accumulated depreciation |  |  | (965,780 | ) |  |  | (819,389 | ) |  |  | - |  |  |  | (819,389 | )
Sub-total |  |  | 805,002 |  |  |  | 843,171 |  |  |  | - |  |  |  | 843,171 |
Corporate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Land |  |  | 1,106,664 |  |  |  | 1,106,664 |  |  |  | - |  |  |  | 1,106,664 |
Building and improvements |  |  | 2,688,523 |  |  |  | 2,505,716 |  |  |  | (3,500 | ) |  |  | 2,502,216 |
Machinery and equipment |  |  | 28,627 |  |  |  | 28,627 |  |  |  | - |  |  |  | 28,627 |
Enterprise resource planning system (3) |  |  | - |  |  |  | 191,075 |  |  |  | (191,075 | ) |  |  | - |
Construction in progress (4) |  |  | - |  |  |  | - |  |  |  | 3,500 |  |  |  | 3,500 |
|  |  | 3,823,814 |  |  |  | 3,832,082 |  |  |  | (191,075 | ) |  |  | 3,641,007 |
Less: accumulated depreciation |  |  | (262,108 | ) |  |  | (225,021 | ) |  |  | - |  |  |  | (225,021 | )
Sub-total |  |  | 3,561,706 |  |  |  | 3,607,061 |  |  |  | (191,075 | ) |  |  | 3,415,986 |
|  | $ | 11,383,884 |  |  | $ | 10,955,299 |  |  | $ | (191,075 | ) |  | $ | 10,764,224 |
(1) The reclassification primarily related to the build-out of our Arizona retail stores, which were placed into service in the second quarter of Fiscal 2024. (2) The reclassification related to the build-out of production equipment, which was placed into service in the second quarter of Fiscal 2024. (3) Reclassified amount to intangibles, net. See Note 7 – Intangible, Net for further details. (4) The reclassification related to improvements to our corporate headquarters, which were placed into service in the second quarter of Fiscal 2024.

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