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Note 5 - Property and Equipment
 12 Months Ended
Dec. 31, 2022
Notes to Financial Statements  
Property, Plant and Equipment Disclosure [Text Block]

NOTE 5 - PROPERTY AND EQUIPMENT

 

Property and equipment consisted of the following on December 31, 2022 and December 31, 2021:

 

  

Useful

Life

  

2022

  

2021

 

Production equipment

 3-10  $8,027,589  $7,425,145 

Production equipment - finance lease

 3-10   3,625,558   3,066,623 

Lab equipment

 3-10   118,935   117,770 

Computer equipment

 3-5   1,070,437   1,005,223 

Vehicles

 3-5   26,020   90,819 

Furniture and fixture

  5    1,141,424   1,166,071 

Furniture and fixture - finance lease

  5    252,397   268,208 

Leasehold improvements

 5-10   3,080,946   3,273,940 
        17,343,306   16,413,799 

Less Accumulated Depreciation

       (8,501,846

)

  (7,218,468

)

Less Accumulated Depreciation - finance lease

       (544,653

)

  (336,338

)

Net Property and Equipment

      $8,296,807  $8,858,993 

 

Depreciation expense amounted to $2,007,112 and $1,945,489 for the year ended December 31, 2022 and 2021, respectively. Of the $2,007,112 for the year ended December 31, 2022, $1,414,514 is allocated as cost of goods sold and $592,598 is allocated as operating expenses.