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PROPERTY, PLANT AND EQUIPMENT, NET

3 Months Ended

Jun. 30, 2023

PROPERTY, PLANT AND EQUIPMENT, NET

PROPERTY, PLANT AND EQUIPMENT, NET

NOTE 9 - PROPERTY, PLANT AND EQUIPMENT, NET

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​	​	​	​	​	​	​
Property, plant and equipment, net consisted of the following as of:		June 30, 2023			March 31, 2023
Land	​	$	110,113	​	$	110,113
Building and improvements	​		3,293,986	​	​	3,293,986
Machinery equipment, furniture, and fixtures	​		24,846,351	​	​	23,018,713
Construction-in-progress	​		164,681	​	​	149,576
Total property, plant, and equipment	​		28,415,131	​	​	26,572,388
Less: accumulated depreciation	​		(13,038,405)	​	​	(12,658,364)
Total property, plant and equipment, net	​	$	15,376,726	​	$	13,914,024

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We capitalize interest on borrowings during active construction period for major capital projects. Capitalized interest is added to the cost of the underlying assets and is amortized over the useful lives of the assets. Interest capitalized for the three months ended June 30, 2023 was $28,168.

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- References

No definition available.

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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

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-Name Accounting Standards Codification
-Section 50
-Paragraph 6
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org//1943274/2147480321/958-360-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
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