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v3.22.2.2

PROPERTY, EQUIPMENT & LEASEHOLDS | 6 Months Ended
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Jun. 30, 2022
Property, Plant and Equipment [Abstract] |
PROPERTY, EQUIPMENT & LEASEHOLDS | 6. PROPERTY, EQUIPMENT & LEASEHOLDS SCHEDULE OF PROPERTY, EQUIPMENT AND LEASEHOLDS
|  | June 30, 2022 |  |  | Accumulated |  |  | June 30, 2022 |
|  | Cost |  |  | Depreciation |  |  | Net |
Buildings and improvements |  | $ | 8,643,465 |  |  | $ | 3,051,682 |  |  | $ | 5,591,783 |
Automobiles |  |  | 196,255 |  |  |  | 89,156 |  |  |  | 107,099 |
Computer hardware |  |  | 43,561 |  |  |  | 42,595 |  |  |  | 966 |
Furniture and fixtures |  |  | 130,596 |  |  |  | 110,642 |  |  |  | 19,954 |
Office equipment |  |  | 1,842 |  |  |  | 1,207 |  |  |  | 635 |
Manufacturing equipment |  |  | 7,218,063 |  |  |  | 4,461,725 |  |  |  | 2,756,338 |
Trailer |  |  | 9,309 |  |  |  | 7,694 |  |  |  | 1,615 |
Boat |  |  | 34,400 |  |  |  | 27,096 |  |  |  | 7,304 |
Leasehold improvements |  |  | 88,872 |  |  |  | 88,872 |  |  |  | — |
Technology |  |  | 106,010 |  |  |  | 106,010 |  |  |  | — |
Land |  |  | 384,027 |  |  |  | — |  |  |  | 384,027 |
|  | $ | 16,856,400 |  |  | $ | 7,986,679 |  |  | $ | 8,869,721 |
|  | December 31, 2021 |  |  | Accumulated |  |  | December 31, 2021 |
|  | Cost |  |  | Depreciation |  |  | Net |
Buildings and improvements |  | $ | 4,823,708 |  |  | $ | 2,983,589 |  |  | $ | 1,840,119 |
Automobiles |  |  | 196,255 |  |  |  | 71,258 |  |  |  | 124,997 |
Computer hardware |  |  | 43,605 |  |  |  | 42,456 |  |  |  | 1,149 |
Furniture and fixtures |  |  | 130,658 |  |  |  | 106,101 |  |  |  | 24,557 |
Office equipment |  |  | 1,872 |  |  |  | 1,155 |  |  |  | 717 |
Manufacturing equipment |  |  | 6,867,799 |  |  |  | 4,171,699 |  |  |  | 2,696,100 |
Trailer |  |  | 9,463 |  |  |  | 7,532 |  |  |  | 1,931 |
Boat |  |  | 34,400 |  |  |  | 26,284 |  |  |  | 8,116 |
Leasehold improvements |  |  | 88,872 |  |  |  | 88,872 |  |  |  | — |
Technology |  |  | 107,759 |  |  |  | 107,759 |  |  |  | — |
Land |  |  | 234,027 |  |  |  | — |  |  |  | 234,027 |
|  | $ | 12,538,418 |  |  | $ | 7,606,705 |  |  | $ | 4,931,713 |
Amount of depreciation expense for the six months ended June 30, 2022 was $384,058 (2021: $383,631) and is included in cost of sales in the unaudited condensed interim consolidated statements of operations and comprehensive income.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 6 -URI https://asc.fasb.org/extlink&oid=126982197&loc=d3e99893-112916 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI https://asc.fasb.org/topic&trid=2155823 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 7 -URI https://asc.fasb.org/extlink&oid=126982197&loc=SL120174063-112916 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 1 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126982197&loc=d3e99779-112916 + Details
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