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PROPERTY, EQUIPMENT AND LEASEHOLDS | 9 Months Ended
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Sep. 30, 2024
Property, Plant and Equipment [Abstract] |
PROPERTY, EQUIPMENT AND LEASEHOLDS | 6. PROPERTY, EQUIPMENT AND LEASEHOLDS SCHEDULE OF PROPERTY, EQUIPMENT AND LEASEHOLDS
|  | September 30, 2024 |  |  | Accumulated |  |  | September 30, 2024 |
|  | Cost |  |  | Depreciation |  |  | Net |
Buildings and improvements |  | $ | 12,800,594 |  |  | $ | 4,369,392 |  |  | $ | 8,431,202 |
Automobiles |  |  | 196,255 |  |  |  | 161,615 |  |  |  | 34,640 |
Office equipment |  |  | 122,191 |  |  |  | 116,245 |  |  |  | 5,946 |
Manufacturing equipment |  |  | 12,432,234 |  |  |  | 6,603,589 |  |  |  | 5,828,645 |
Land |  |  | 440,592 |  |  |  | — |  |  |  | 440,592 |
Leasehold improvements |  |  | 10,000 |  |  |  | 10,000 |  |  |  | — |
Technology |  |  | 101,201 |  |  |  | 101,201 |  |  |  | — |
|  | $ | 26,103,067 |  |  | $ | 11,362,042 |  |  | $ | 14,741,025 |
|  | December 31, 2023 |  |  | Accumulated |  |  | December 31, 2023 |
|  | Cost |  |  | Depreciation |  |  | Net |
Buildings and improvements |  | $ | 12,341,605 |  |  | $ | 3,896,887 |  |  | $ | 8,444,718 |
Automobiles |  |  | 196,255 |  |  |  | 140,040 |  |  |  | 56,215 |
Office equipment |  |  | 177,623 |  |  |  | 165,048 |  |  |  | 12,575 |
Manufacturing equipment |  |  | 10,017,466 |  |  |  | 5,799,779 |  |  |  | 4,217,687 |
Land |  |  | 440,592 |  |  |  | — |  |  |  | 440,592 |
Leasehold improvements |  |  | 88,872 |  |  |  | 88,872 |  |  |  | — |
Technology |  |  | 103,292 |  |  |  | 103,292 |  |  |  | — |
|  | $ | 23,365,705 |  |  | $ | 10,193,918 |  |  | $ | 13,171,787 |
Amount of depreciation expense for nine months ended September 30, 2024 was: $1,307,655 (2023 - $1,095,171) and is included in cost of sales in the unaudited interim condensed consolidated statements of operations and comprehensive income. In January 2024, the Company lost power during a winter storm and some frozen pipes caused damage at two different locations. Insurance was in place and repairs are currently being made. The Company currently has $423,823 under accrued liability for funds received in the first nine months ended September 30, 2024 but the work has not yet been completed.

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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/1943274/2147477798/958-360-50-6 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/1943274/2147477798/958-360-50-1 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/1943274/2147477798/958-360-50-7 + Details
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