Note 6 - Property, Plant and Equipment and Intangible Assets |
NOTE 6 - PROPERTY, PLANT AND EQUIPMENT AND INTANGIBLE ASSETS For the Periods Ended: | 6/30/2016 | 12/31/2015 | | | | Property, plant and equipment consist of the following: | | | | | | Equipment | $21,074 | $247,750 | Computers and software | 7,400 | 7,400 | Other equipment | 400 | 400 | Less: disposal | 0 | (226,676) | Total property, plant and equipment | 28,874 | 28,874 | Less: | | | Accumulated depreciation | 7,105 | 36,800 | Current depreciation expense | 10,300 | 5,105 | Less: disposal | 0 | (34,800) | Total accumulated depreciation | 17,405 | 7,105 | | | | Net property, plant and equipment | $11,469 | $21,769 | | | | Intangible assets consist of: | | | | | | Goodwill | $256,000 | $256,000 | Intangible assets | 7,751,031 | 7,751,031 | Less: | | | Impairment | 7,907,031 | 7,907,031 | | | | Net intangible assets | $100,000 | $100,000 | | | | Depreciation expense was $10,300 at June 30, 2016. |
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