Property, Plant and Equipment

12 Months Ended

Dec. 31, 2018

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

Note 3 – Property, Plant and Equipment:

The Company’s property, plant and equipment at December 31, 2018 and 2017 consisted of the following:

	Estimated
	Useful Life	2018			2017
Land		$	278,325		$	278,325
Building and Improvements	30 years		9,548,922			4,673,409
Manufacturing and warehouse equipment	6-20 years		10,736,161			9,616,086
Office equipment and furniture	3-5 years		1,838,360			1,367,244
Leasehold improvements	10-15 years		577,068			567,898
Vehicles	3 years		10,020			10,020
Construction in process			80,682			5,197,780
Property, plant and equipment, gross			23,069,538			21,710,762
Less accumulated depreciation			(13,420,301	)		(12,419,095	)
Property, plant and equipment, net		$	9,649,237		$	9,291,667

The Company is nearing completion of a project involving the expansion of the manufacturing, warehouse and distribution facilities of the Company’s wholly-owned subsidiary, KINPAK Inc. (“Kinpak”) in Montgomery, Alabama, as well as the purchase and installation of associated machinery and equipment (the “Expansion Project”). As of December 31, 2018, the remaining work on the Expansion Project involves the completion of a bottle filling line and the purchase and installation of additional equipment. At December 31, 2018, the Company’s expenditures on the Expansion Project aggregated approximately $6.0 million. The total cost of the Expansion Project is estimated to be approximately $6.7 million. Construction in progress at December 31, 2018 and 2017 includes $46,996 and $5,087,897, respectively, relating to the expansion of Kinpak’s manufacturing, warehouse and distribution facilities.