Property, plant and equipment

9 Months Ended

Sep. 30, 2023

Property, plant and equipment [Abstract]

Property, plant and equipment

6. 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 September 30, 2023 and December 31, 2022, the Company’s property, plant and equipment, net consisted of the following: 

	2023			2022
Computer equipment and software	$	99,505		$	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 leases		196,416			196,416
Laboratory and temporary units		1,364,748			1,364,748
Land		1,190,655			1,190,655
Building		969,113			—
Construction in progress		2,840,174			2,244,100
Property, plant and equipment		7,897,791			6,327,629
Less: accumulated depreciation		(996,374	)		(718,726	)
Property, plant and equipment, net	$	6,901,417		$	5,608,903

Depreciation expense for the three months ended September 30, 2023 and 2022 amounted to $92,984 and $106,271 respectively. Depreciation expense for the nine months ended September 30, 2023 and 2022 amounted to $277,648 and $317,249 respectively.