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PROPERTY, PLANT AND EQUIPMENT
 12 Months Ended
Dec. 31, 2023
Property, Plant and Equipment [Abstract]  
PROPERTY, PLANT AND EQUIPMENT

NOTE 7. PROPERTY, PLANT AND EQUIPMENT

 

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

 

   Estimated
Useful Life		  December 31,
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   2,065,092    2,048,169 
Warehouse and production equipment  3-7 years   29,055    51,302 
Demonstration and tradeshow equipment  3-7 years   87,987    72,341 
Building improvements  5-7 years   1,328,654    1,334,374 
Total cost      8,787,559    8,782,957 
Less: accumulated depreciation and amortization      (1,503,857)   (884,271)
              
Net property, plant and equipment     $7,283,702   $7,898,686 

 

Depreciation and amortization of property, plant and equipment aggregated $711,103 and $614,121 for the years ended December 31, 2023 and 2022, respectively. The cost and accumulated depreciation related to assets sold or retired are removed from the accounts and any gain or loss is credited or charged to income. The Company retired fixed assets during 2023 totaling $89,562 resulting in no gain or loss for the year ended December 31, 2023 on the Company’s Consolidated Statement of Operations. The Company retired fixed assets during 2022 totaling $549,104 resulting in a gain on sale of assets of $212,831 for the year ended December 31, 2022 on the Company’s Consolidated Statement of Operations.