Quarterly report pursuant to Section 13 or 15(d)

Fixed Assets

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Fixed Assets
 3 Months Ended
Mar. 31, 2020
Property, Plant and Equipment [Abstract]  
Fixed Assets

Note 8 – Fixed Assets

 

Fixed assets consist of the following at March 31, 2020 and December 31, 2019, respectively:

 

    March 31,     December 31,  
    2020     2019  
Land   $ 138,248     $ 138,248  
Office equipment     44,027       44,027  
Furniture and fixtures     27,914       27,914  
Equipment and machinery     176,285       174,072  
Construction in progress     335,231       335,231  
      721,705       719,492  
Less: accumulated depreciation     (27,541 )     (21,629 )
Total   $ 694,164     $ 697,863  

 

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 $5,912 and $2,436 for the three months ended March 31, 2020 and 2019, respectively.