Annual report pursuant to Section 13 and 15(d)

Fixed Assets

v3.20.1
Fixed Assets
12 Months Ended
Dec. 31, 2019
Property, Plant and Equipment [Abstract]  
Fixed Assets

Note 9 – Fixed Assets

 

Fixed assets consist of the following at December 31, 2019 and 2018, respectively:

 

    December 31,     December 31,  
    2019     2018  
Land   $ 138,248     $ -  
Office equipment     44,027       18,314  
Furniture and fixtures     27,914       23,595  
Equipment and machinery     174,072       -  
Construction in progress     335,231       316,491  
      719,492       358,400  
Less: accumulated depreciation     (21,629 )     (1,961 )
Total   $ 697,863     $ 356,439  

 

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 $19,668 and $1,961 for the year ended December 31, 2019 and the period from inception (March 27, 2018) to December 31, 2018, respectively.