Note 6 - Property, Plant and Equipment, Net

9 Months Ended

Sep. 30, 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:

	September 30, 2021		December 31, 2020
Land	$	228,872	$	228,872
Buildings and improvements		2,925,815		2,061,887
Machinery & equipment		21,231,471		14,329,462
Total property, plant & equipment		24,386,158		16,620,221
Less: accumulated depreciation		8,655,804		5,329,438
Property plant & equipment, net	$	15,730,354	$	11,290,783

Depreciation expense was $511,046 and $415,101 for the three months ended September 30, 2021 and 2020, respectively, and $1,535,870 and $1,275,854 for the nine months ended September 30, 2021 and 2020, respectively.