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v3.23.2

PROPERTY, EQUIPMENT & LEASEHOLDS. | 6 Months Ended
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Jun. 30, 2023
Property, Plant and Equipment [Abstract] |
PROPERTY, EQUIPMENT & LEASEHOLDS. | 6. PROPERTY, EQUIPMENT & LEASEHOLDS. SCHEDULE OF PROPERTY, EQUIPMENT AND LEASEHOLDS
|  | June 30, 2023 |  |  | Accumulated |  |  | June 30, 2023 |
|  | Cost |  |  | Depreciation |  |  | Net |
Buildings and improvements |  | $ | 12,065,617 |  |  | $ | 3,572,013 |  |  | $ | 8,493,604 |
Automobiles |  |  | 196,255 |  |  |  | 124,924 |  |  |  | 71,331 |
Computer hardware |  |  | 43,490 |  |  |  | 42,826 |  |  |  | 664 |
Office equipment |  |  | 134,233 |  |  |  | 117,826 |  |  |  | 16,407 |
Manufacturing equipment |  |  | 9,074,006 |  |  |  | 5,281,191 |  |  |  | 3,792,815 |
Trailer |  |  | 9,061 |  |  |  | 7,961 |  |  |  | 1,100 |
Boat |  |  | 34,400 |  |  |  | 29,006 |  |  |  | 5,394 |
Leasehold improvements |  |  | 88,872 |  |  |  | 88,872 |  |  |  | — |
Technology |  |  | 103,182 |  |  |  | 103,182 |  |  |  | — |
Land |  |  | 440,592 |  |  |  | — |  |  |  | 440,592 |
|  | $ | 22,189,708 |  |  | $ | 9,367,801 |  |  | $ | 12,821,907 |
|  | December 31, 2022 |  |  | Accumulated |  |  | December 31, 2022 |
|  | Cost |  |  | Depreciation |  |  | Net |
Buildings and improvements |  | $ | 8,775,629 |  |  | $ | 3,310,920 |  |  | $ | 5,464,709 |
Automobiles |  |  | 196,255 |  |  |  | 107,055 |  |  |  | 89,200 |
Computer hardware |  |  | 43,432 |  |  |  | 42,663 |  |  |  | 769 |
Office equipment |  |  | 133,280 |  |  |  | 112,782 |  |  |  | 20,498 |
Manufacturing equipment |  |  | 8,634,063 |  |  |  | 4,891,736 |  |  |  | 3,742,327 |
Trailers |  |  | 8,857 |  |  |  | 7,592 |  |  |  | 1,265 |
Boat |  |  | 34,400 |  |  |  | 27,907 |  |  |  | 6,493 |
Leasehold improvements |  |  | 88,872 |  |  |  | 88,872 |  |  |  | — |
Technology |  |  | 100,860 |  |  |  | 100,860 |  |  |  | — |
Land |  |  | 384,027 |  |  |  | — |  |  |  | 384,027 |
|  | $ | 18,399,675 |  |  | $ | 8,690,387 |  |  | $ | 9,709,288 |
Amount of depreciation expense for the six months ended June 30, 2023 was $671,574 (2022: $384,058) 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://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-7 + Details
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