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Property and Equipment
 12 Months Ended
Dec. 31, 2024
Property and equipment:  
Property and Equipment

Note 8 – Property and Equipment

Property and equipment at consist of the following at December 31, 2024 and December 31, 2023:

 

 

 

December 31,

 

 

December 31,

 

 

 

2024

 

 

2023

 

Machinery

 

$

7,826,224

 

 

$

4,714,626

 

Leasehold improvements

 

 

1,467,267

 

 

 

1,409,767

 

Software

 

 

70,000

 

 

 

70,000

 

Website

 

 

71,589

 

 

 

71,589

 

Office equipment

 

 

121,674

 

 

 

21,440

 

Construction in progress

 

 

4,040,207

 

 

 

1,381,663

 

 

 

13,596,961

 

 

 

7,669,085

 

Less: Accumulated depreciation and amortization

 

 

(1,794,541

)

 

 

(967,602

)

Total property and equipment, net

 

$

11,802,420

 

 

$

6,701,483

 

 

Construction in progress consists of costs incurred to build out our manufacturing facilities in Texas, along with the construction of our freeze driers. These costs will be capitalized as Leasehold Improvements and Machinery, respectively, upon completion.

For the twelve months ended December 31, 2024 and 2023, respectively, depreciation of property and equipment was $826,939 and $459,345, of which $795,295 and $355,286 was allocated to cost of goods sold, resulting in net depreciation expense of $31,644 and $104,058 included in operating expense.