PROPERTY AND EQUIPMENT

9 Months Ended

Sep. 30, 2023

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT

NOTE 6 — PROPERTY AND EQUIPMENT

Property and equipment consist of the following:

	September 30,			December 31,
	2023			2022
Consumer
Land	$	1,824,892		$	1,640,219
Building and improvements		3,859,052			2,798,975
Leasehold improvements		1,450,695			1,450,695
Machinery and equipment		1,149,891			1,078,595
Furniture and fixtures		656,817			603,944
Vehicles		22,859			22,859
		8,964,206			7,595,287
Less: accumulated depreciation		(2,878,117	)		(2,651,832	)
Sub-Total		6,086,089			4,943,455
Commercial
Building and improvements		151,647			151,647
Machinery and equipment		1,098,098			1,082,026
Vehicles		222,832			98,610
Furniture and fixtures		145,950			145,950
		1,618,527			1,478,233
Less: accumulated depreciation		(742,725	)		(515,673	)
Sub-Total		875,802			962,560
Corporate
Land		1,106,664			1,106,664
Building and improvements		2,502,216			2,502,216
Computer software		54,398			-
Machinery and equipment		28,627			28,627
		3,691,905			3,637,507
Less: accumulated depreciation		(206,196	)		(149,720	)
Sub-Total		3,485,709			3,487,787
	$	10,447,600		$	9,393,802

On May 4, 2023, the consumer segment closed the purchase of a new retail building located at 6030 North 19^th Avenue in Phoenix, Arizona for $1,231,150. During the three months ended September 30, 2023, $184,673 of the purchase price, was allocated to the land. The purchase was paid through operating cash flow without the use of borrowed funds. As of September 30, 2023, the building has not been placed into service. Once the new location is placed into service, the building will begin to be depreciated.