Quarterly report pursuant to Section 13 or 15(d)

Property, Plant and Equipment

v3.21.1
Property, Plant and Equipment
3 Months Ended
Mar. 31, 2021
Property, plant and equipment [Abstract]  
Property, plant and equipment

6.

Property, plant and equipment

 

Property, plant and equipment are stated at cost less accumulated depreciation and amortization and depreciated using the straight-line method over their useful lives. At March 31, 2021 and December 31, 2020, the Company’s property, plant and equipment, net consisted of the following:

 

 


 

2021

 

 

2020

 

 

Computer equipment and software 

 

$

119,437

 

 

$

73,991

 

 

Furniture and other equipment

 

 

16,286

 

 

 

11,593

 


Leasehold improvements


13,871


6,071

Equipment and machinery

1,155,324


1,127,647

Automobiles

4,638


4,638

Building held for leases

501,336


501,336

Laboratory and temporary units

1,350,197


1,016,238

Construction in progress

442,515



 

      Property, plant and equipment

 

 

3,603,604

 

 

 

2,741,514

 

 

Less: accumulated depreciation

 

 

(149,690

)

 

 

(58,500

)

 

      Property, plant and equipment, net

 

$

3,453,914

 

 

$

2,683,014

 

 

Depreciation expense for the three months ended March 31, 2021 and 2020 amounted to $91,190 and $924 respectively.