v3.25.1
Property, equipment and vehicles
 12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Abstract]  
Property, equipment and vehicles

4. Property, equipment and vehicles

 

 

Cost:  Land   Plant   Equipment   Vehicles   Total 
                     
Balance, December 31,2022             18,684,800    133,308    18,818,108 
Additions   1,208,949    2,132,511    5,909,078         9,250,538 
Disposals             -7,364,650         -7,364,650 
Balance, December 31,2023   1,208,949    2,132,511    17,229,228    133,308    20,703,996 
Additions   687,343(1)   252,176    1,657,565         2,597,084 
Balance, December 31,2024   1,896,292    2,384,687    18,886,793    133,308    23,301,080 
                          
Depreciation:                         
Balance, December31,2022             6,228,200    36,500    6,264,700 
Charge for the year        71,907    322,269    48,603    442,779 
Acc.depn on disposals             4,532,185         4,532,185 
Balance, December 31,2023        71,907    11,082,654    85,103    11,239,664 
Charge for the year        454,171    2,135,235    36,102    2,625,508 
Balance, December 31,2024        526,078    13,217,889    121,205    13,865,172 
Net book value:                         
                          
Balance,December  31,2022   -    -    12,456,600    96,808    12,553,408 
                          
                          
Balance, December 31,2023   1,208,949    2,060,604    6,146,573    48,206    9,464,332(2)
                          
Balance, December 31,2024   1,896,292    1,858,609    5,668,903    12,104    9,435,908 

 

(1)The additions to property of $ 687,343 represent the acquisition cost of the Wisconsin property which is awaiting rezoning approvals for development as a mining center.
(2)The difference from the balance at the end of 2023 is $1,235, which is caused by a different depreciation method from the reclassification of a $24,700 fixed asset.

 

 

 

ABITS GROUP INC

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS