Note 6 - Property, Plant and Equipment, Net

3 Months Ended

Mar. 31, 2021

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:

	March 31, 2021		December 31, 2020
Land	$	228,872	$	228,872
Buildings and improvements		2,434,882		2,061,887
Machinery & equipment		20,251,375		14,329,462
Total property, plant & equipment		22,915,129		16,620,221
Less: accumulated depreciation		7,628,872		5,329,438
Property plant & equipment, net	$	15,286,257	$	11,290,783

Depreciation expense was

$508,937

 and

$434,684

for the

three

months ended

March 31, 2021

and

2020,

respectively.