Property and Equipment

12 Months Ended

Dec. 31, 2019

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT

NOTE 6 – PROPERTY AND EQUIPMENT

At December 31, 2019 and 2018, property and equipment consisted of the following:

	Useful life	December 31, 2019			December 31, 2018
Office equipment and furniture	5 years	$	25,815		$	95,629
Manufacturing equipment	5 - 10 years		-			20,297,029
Vehicles	5 years		72,382			176,884
Building and building improvements	5 - 20 years		-			21,341,612
Manufacturing equipment in progress	-		-			338,190
Construction in progress	-		-			4,686,673
Vessels	10 years		588,592			-
			686,789			46,936,017
Less: accumulated depreciation and impairment loss			(66,714	)		(25,370,263	)
Property and equipment, net			620,075			21,565,754
Less: Property and equipment, net – discontinued operations			-			(21,506,658	)
Property and equipment, net – continuing operations		$	620,075		$	59,096

Depreciation expense from continuing operations for the years ended December 31, 2019 and 2018 amounted to $28,980 and $26,928, respectively. Depreciation expense from discontinued operations for the years ended December 31, 2019 and 2018 amounted to $565,008 and $4,028,214, respectively. At December 31, 2019, the Company recognized a full impairment charge to property and equipment of discontinued operations.