Annual report pursuant to Section 13 and 15(d)

Fixed Assets

v3.21.1
Fixed Assets
 12 Months Ended
Dec. 31, 2020
Property, Plant and Equipment [Abstract]  
Fixed Assets

Note 9 – Fixed Assets

 

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

 

    December 31,     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     185,169       174,072  
Construction in progress     345,036       335,231  
      782,059       719,492  
Less: accumulated depreciation     (55,239 )     (21,629 )
Total   $ 726,820     $ 697,863  

 

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

 

Depreciation and amortization expense totaled $33,610 and $19,668 for the years ended December 31, 2020 and 2019, respectively.