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Property Plant and Equipment and Investment in Real Estate, Net

6 Months Ended

12 Months Ended

Jun. 30, 2023

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

Property Plant and Equipment and Investment in Real Estate, Net

Note 6. PROPERTY PLANT AND EQUIPMENT and INVESTMENT IN REAL ESTATE, NET

Property Plant and Equipment and Investment in Real Estate, Net  

Property, plant and equipment consisted of the following as of:

 Schedule of Property Plant and Equipment

		Estimated		June 30,				December 31,
		Useful Life		2023				2022
Machinery and equipment		5-10 years		$	30,000			$	25,000
Construction in progress					263,000				251,000
Total Cost					293,000				276,000
Less accumulated depreciation					3,000				-
Property, plant and equipment, net				$	290,000			$	276,000

Depreciation expense for the six months ended June 30, 2023 and 2022 were approximately $3,000 and $0, respectively.

Note 7. PROPERTY PLANT AND EQUIPMENT and INVESTMENT IN REAL ESTATE, NET

Property Plant and Equipment and Investment in Real Estate, Net 

Property, plant and equipment consisted of the following as of December 31, 2022:

 Schedule of Property Plant and Equipment 

		Estimated
		Useful Life		2022				2021
Machinery and equipment		5-10 years		$	25,000			$	-
Construction in progress					251,000				-
Total Cost					276,000				-
Property, plant and equipment, gross					276,000				-
Less accumulated depreciation					-				-
Property, plant and equipment, net				$	276,000			$	-

Depreciation expense for the years ended December 31, 2022 and 2021 was $0 and $0 respectively.

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- References

No definition available.

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- Definition

The entire disclosure for intangible assets and long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

+ 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://fasb.org/us-gaap/role/ref/legacyRef
-Topic 350
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//350/tableOfContent

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