Property and Equipment

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

Property and Equipment

6. Property and Equipment

Major classes of property and equipment at December 31, 2022 and 2021 are as follows:

	2022			2021
Equipment		2,344,946			536,982
Furniture		143,449			97,795
Product molds		122,675			70,208
Computers		78,885			33,420
Leasehold improvements		675,751			368,233
Building		6,079,410			-
Land		2,239,405			-
Automobile		168,497			95,434
Deposits		605,000			-
Less accumulated depreciation		(557,346	)		(73,273	)
	$	11,900,672		$	1,128,799

During the years ended December 31, 2022 and 2021, the Company recognized depreciation expense of $484,073 and $64,497, respectively. At December 31, 2022, the Company is committed to purchase an additional $2,545,000 of equipment.

During the year ended December 31, 2022, the Company completed the purchase of a manufacturing facility and land for $6,079,410 and $2,239,405, respectively. Currently, the Company’s products are manufactured in Meihzou, China. With the acquisition of the property, the Company plans to build manufacturing and assembly operations in the United States. The Company believes that by doing so it can (i) have better control over design and manufacturing quality of its products, (ii) mitigate supply chain risk, (iii) decrease shipping costs, (iv) cut overall manufacturing costs, and (v), by on-shoring production, participate in creating positive social externalities including employment in its largest market: the United States.