Note 6 - Property, Plant and Equipment, Net

3 Months Ended

Mar. 31, 2023

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,		December 31,
	2023		2022
Land	$	231,034	$	231,034
Buildings and improvements		3,293,464		3,222,243
Machinery & equipment		23,378,099		23,301,660
Total property, plant & equipment		26,902,597		26,754,937
Less: accumulated depreciation		12,137,816		11,541,494
Property plant & equipment, net	$	14,764,781	$	15,213,443

Depreciation expense was $596,322 and $595,833 for the three months ended March 2023 and 2022, respectively.