XML 24 R14.htm IDEA: XBRL DOCUMENT v3.23.2
PROPERTY, PLANT AND EQUIPMENT
 6 Months Ended
Jun. 30, 2023
Property, Plant and Equipment [Abstract]  
PROPERTY, PLANT AND EQUIPMENT

NOTE 8. PROPERTY, PLANT AND EQUIPMENT

 

Property, plant and equipment consisted of the following at June 30, 2023 and December 31, 2022:

 

   Estimated
Useful Life		 

June 30,

2023

  

December 31,

2022

 
Building  25 years  $4,537,037   $4,537,037 
Land  Infinite   739,734    739,734 
Office furniture, fixtures, equipment, and aircraft  3-20 years   2,025,598    2,048,169 
Warehouse and production equipment  3-7 years   40,181    51,302 
Demonstration and tradeshow equipment  3-7 years   74,582    72,341 
Building improvements  5-7 years   1,328,601    1,334,374 
Total cost      8,745,733    8,782,957 
Less: accumulated depreciation and amortization      (1,141,539)   (884,271)
              
Net property, plant and equipment     $7,604,194   $7,898,686 

 

 

Depreciation expense for the three months ended June 30, 2023 and June 30, 2022 was $174,261 and $171,890, respectively, and is included in general and administrative expenses. Depreciation expense for the six months ended June 30, 2023 and June 30, 2022 was $345,892 and $307,328, respectively, and is included in general and administrative expenses.