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Property, plant and equipment | 12 Months Ended
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Dec. 31, 2023
Property, plant and equipment |
Property, plant and equipment |
8. | Property, plant and equipment
Property, plant and equipment are stated at cost less accumulated depreciation and amortization and depreciated using the straight-line method over their useful lives. At December 31, 2023 and 2022, the Company’s property, plant and equipment, net consisted of the following:
|  |  |  | 2023 |  |  |  | 2022 |
| Building |  | $ | 969,188 |  |  | $ | — |
| Computer equipment and software |  |  | 102,325 |  |  |  | 94,530 |
| Furniture and other equipment |  |  | 271,798 |  |  |  | 271,798 |
| Leasehold improvements |  |  | 17,280 |  |  |  | 17,280 |
| Equipment and machinery |  |  | 943,464 |  |  |  | 943,464 |
| Automobiles |  |  | 4,638 |  |  |  | 4,638 |
| Building held for lease |  |  | 196,416 |  |  |  | 196,416 |
| Laboratory and temporary units |  |  | 0 |  |  |  | 1,364,748 |
| Land |  |  | 1,190,655 |  |  |  | 1,190,655 |
| Construction in process |  |  | 2,397,659 |  |  |  | 2,244,100 |
| Property, plant and equipment |  |  | 6,093,423 |  |  |  | 6,327,629 |
| Less: accumulated depreciation |  |  | (511,022 | ) |  |  | (718,726 | )
| Property, plant and equipment, net |  | $ | 5,582,401 |  |  | $ | 5,608,903 |
Depreciation expense for the years ended December 31, 2023 and 2022 amounted to $370,525 and $410,314, respectively. Additionally, during the year ended December 31, 2023, property, plant and equipment consisting of lab units and construction in progress with a net book value of $1,229,034 was written off due to lack of usage and no plans to be put back into service.

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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 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-7 + Details
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