Quarterly report pursuant to Section 13 or 15(d)

Fixed Assets

v3.20.2
Fixed Assets
 9 Months Ended
Sep. 30, 2020
Property, Plant and Equipment [Abstract]  
Fixed Assets

Note 9 – Fixed Assets

 

Fixed assets consist of the following at September 30, 2020 and December 31, 2019, respectively:

 

    September 30,     December 31,  
    2020     2019  
Land   $ 138,248     $ 138,248  
Buildings     41,665       -  
Office equipment     44,027       44,027  
Furniture and fixtures     27,914       27,914  
Equipment and machinery     176,285       174,072  
Construction in progress     329,146       335,231  
      757,285       719,492  
Less: accumulated depreciation     (45,335 )     (21,629 )
Total   $ 711,950     $ 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 $23,706 and $9,432 for the nine months ended September 30, 2020 and 2019, respectively.