8. Property and Equipment, Net

Property and equipment, net consisted of the following:

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For the years ended December 31, 2025 and 2024, total depreciation on property and equipment was $16,109,595 and $2,536,781, respectively. For the years ended December 31, 2025 and 2024, accumulated amortization of the right of use asset amounted to $11,031,180 and $2,511,820, respectively. During the years ended December 31, 2025 and 2024, total interest expense capitalized to property plant and equipment was $2,072,527 and $1,387,750, respectively. The Company capitalized into inventory $4,771,998 and $2,244,087 relating to depreciation associated with manufacturing equipment and production facilities as of December 31, 2025 and 2024, respectively. The capitalized depreciation costs associated are added to inventory and expensed through Cost of Sales Product Cost on the consolidated statements of net loss and comprehensive loss.

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As of December 31, 2025, the Company evaluated whether property and equipment showed any indicators of impairment, and it was determined that the recoverable amount of certain net assets was below book value. As a result, the Company recorded an impairment charge of $2,600,000 (2024 - $0) on property and equipment, net for the year ended December 31, 2025.