v3.26.1
PROPERTY, EQUIPMENT AND LEASEHOLDS
 3 Months Ended
Mar. 31, 2026
Property, Plant, and Equipment [Abstract]  
PROPERTY, EQUIPMENT AND LEASEHOLDS

6. PROPERTY, EQUIPMENT AND LEASEHOLDS

 

   March 31, 2026   Accumulated   March 31, 2026 
   Cost   Depreciation   Net 
Buildings and improvements  $11,219,850   $5,039,730   $6,180,120 
Automobiles   173,659    97,956    75,703 
Office equipment   148,702    121,732    26,970 
Manufacturing equipment   19,719,651    8,395,110    11,324,541 
Land   299,027    —    299,027 
Technology   98,005    98,005    — 
   $31,658,894   $13,752,533   $17,906,361 

 

   December 31, 2025   Accumulated   December 31, 2025 
   Cost   Depreciation   Net 
Buildings and improvements  $11,087,175   $4,904,582   $6,182,593 
Automobiles   190,933    108,304    82,629 
Office equipment   133,990    121,386    12,604 
Manufacturing equipment   17,636,508    8,071,269    9,565,239 
Land   299,027    —    299,027 
Technology   99,671    99,671    — 
   $29,447,304   $13,305,212   $16,142,092 

 

Amount of depreciation expense for three months ended March 31, 2026 was: $469,495 (2025 - $425,198) and is included in cost of sales in the condensed interim consolidated statements of operations and comprehensive income (loss).

 

In late 2025, management committed to a plan to sell the 14,000 sq. ft. former manufacturing facility located in Mendota, IL. As of March 31, 2026 and December 31, 2025, the carrying value of the property has been reclassified to Property Held for Sale on the consolidated balance sheet at its estimated net realizable value of $425,000.