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PROPERTY, PLANT AND EQUIPMENT
 12 Months Ended
Dec. 31, 2024
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, 2024 and 2023:

 

  

Estimated

Useful Life

  December 31, 2024   December 31, 2023 
Building  25 years  $—   $4,537,037 
Land  Infinite   —    739,734 
Office furniture, fixtures, equipment, and aircraft  3-20 years   783,791    2,065,092 
Warehouse and production equipment  3-7 years   237,141    29,055 
Demonstration and tradeshow equipment  3-7 years   77,791    87,987 
Building improvements  5-7 years   12,185    1,328,654 
Total cost      1,110,908    8,787,559 
Less: accumulated depreciation and amortization      (745,051)   (1,503,857)
              
Net property, plant and equipment     $365,857   $7,283,702 

 

Depreciation and amortization of property, plant and equipment aggregated $544,602 and $711,103 for the years ended December 31, 2024 and 2023, 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.

 

During the year ended December 31, 2024 the Company sold its aircraft for $1,100,000 less closing costs of $1,500. The carrying amount of the aircraft on the date of sale was $1,141,661. As a result of the sale the Company recorded a loss of $41,661 in the Consolidated Statement of Operations. In addition, during the year ended December 31, 2024 the Company sold its building for $5,900,000 less closing costs of $36,634. The carrying amount of the building on the date of sale was $5,461,623. As a result of the sale the Company recorded a gain of $401,743 in the Consolidated Statement of Operations during the year ended December 31, 2024.