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Property, Plant and Equipment

3 Months Ended

Mar. 31, 2022

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

6. Property, plant and equipment

Major classifications of property, plant and equipment are summarized as follows:

	March 31, 2022			December 31, 2021
Land	$	730,345		$	725,799
Building and improvements		15,712,641			15,580,385
Construction in process		12,286,984			8,119,575
Equipment		16,220,935			15,981,408
Office furniture and equipment		242,102			240,939
Vehicles		36,837			36,280
Total property and equipment	$	45,229,844		$	40,684,386
Less accumulated depreciation and amortization		(7,401,679)			(6,869,267)
Property, plant and equipment, net	$	37,828,165		$	33,815,119

Depreciation expense was $484 thousand and $416 thousand, for the three-month period ended March 31, 2022 and 2021, respectively.

Included in construction in process is $2.1 million for construction related to the Rollo Bay farm site and improvements to the Fortune Bay hatchery, $819 thousand for construction related to the Indiana farm site, and $9.4 million related to design work and construction activities for the Ohio farm. An additional $19.4 million has been contractually committed for these farm sites, though if a contract were terminated, a portion of this total would be refundable based on the amount of work completed as of the date of the contract termination.

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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://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 958
-SubTopic 360
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=120429125&loc=d3e99893-112916

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-URI http://asc.fasb.org/topic&trid=2155823

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 958
-SubTopic 360
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=120429125&loc=SL120174063-112916

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 958
-SubTopic 360
-Section 50
-Paragraph 1
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=120429125&loc=d3e99779-112916

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