Note 6 - Property, Plant and Equipment, Net

9 Months Ended

Sep. 30, 2020

Notes to Financial Statements

Property, Plant and Equipment Disclosure [Text Block]

6.

  PROPERTY, PLANT AND EQUIPMENT, NET

Property, plant and equipment are recorded at cost and depreciated over their useful lives. Maintenance and repair costs are expenses as incurred. Property, plant and equipment are as follows:

	September 30, 2020		December 31, 2019
Land	$	228,872	$	228,872
Buildings and improvements		1,962,341		1,837,009
Machinery & equipment		14,166,363		13,950,444
Total property, plant & equipment		16,357,576		16,016,325
Less: accumulated depreciation		4,898,007		3,622,153
Property plant & equipment, net	$	11,459,569	$	12,394,172

Depreciation expense was

$415,101

 and

$378,111

for the

three

months ended

September 30, 2020

and

2019,

respectively,

$1,275,854

and 

$1,182,876

for the

nine

months ended

September 30, 2020

and

2019,

respectively.