Property, Plant and Equipment

12 Months Ended

Dec. 31, 2021

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, 2021 and 2020 consisted of the following:

	Estimated
	Useful Life	2021			2020
Land		$	278,325		$	278,325
Building and Improvements	30 years		9,710,244			9,563,406
Manufacturing and warehouse equipment	6-20 years		12,858,638			11,959,563
Office equipment and furniture	3-5 years		1,805,002			1,880,387
Leasehold improvements	10-15 years		587,183			587,183
Finance leases – right to use	5 years		113,741			113,741
Vehicles	3 years		10,020			10,020
Construction in process (1)			6,633,112			464,203
Property, plant and equipment, gross			31,996,265			24,856,828
Less accumulated depreciation			(15,636,047	)		(14,754,866	)
Property, plant and equipment, net		$	16,360,218		$	10,101,962

(1) The Company’s wholly owned subsidiary, KINPAK Inc. (“Kinpak”) is near completion of an expansion of its manufacturing and distribution facilities by an additional 69,000 square feet. on its 23-acre site. This planned expansion will bring the total facility square footage to exceed 370,000 square feet. of dedicated space for production, warehousing, and distribution. This is the second major expansion of their facilities in less than five years. The Company expects the expansion to be completed during the first half of 2022, although it may be delayed due to supply chain issues.