Quarterly report pursuant to Section 13 or 15(d)

Fixed Assets

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Fixed Assets
 3 Months Ended
Mar. 31, 2021
Property, Plant and Equipment [Abstract]  
Fixed Assets

Note 8 – Fixed Assets

 

Fixed assets consist of the following at March 31, 2021 and December 31, 2020, respectively:

 

    March 31,     December 31,  
    2021     2020  
Land   $ 138,248     $ 138,248  
Buildings     41,665       41,665  
Office equipment     48,277       44,027  
Furniture and fixtures     27,914       27,914  
Equipment and machinery     331,899       185,169  
Construction in progress     352,044       345,036  
      940,047       782,059  
Less: accumulated depreciation     (65,123 )     (55,239 )
Total   $ 874,924     $ 726,820  

 

Construction in progress consists of equipment and capital improvements on the Popayán farm have not yet been placed in service.

 

Depreciation and amortization expense totaled $9,884 and $5,912 for the three months ended March 31, 2021 and 2020, respectively.