v3.26.1
Property and Equipment
 3 Months Ended 12 Months Ended
Mar. 31, 2026
Dec. 31, 2025
Property, Plant, and Equipment [Abstract]    
Property and Equipment

 

5. Property and Equipment

 

As of March 31, 2026 and December 31, 2025, the property and equipment consists of the following:

 

Cost  Buildings and land   Office equipment and software   Machinery and equipment   Vehicles   Leasehold improvements   Total 
Balance as of January 1, 2025  $27,654,718   $219,438   $5,611,300   $597,150   $5,000   $34,087,606 
Additions   165,729    10,603    716,682    182,112    -    1,075,126 
Disposals and transfers   (184,583)   -    -    -    -    (184,583)
Balance as of December 31, 2025  $27,635,864   $230,041   $6,327,982   $779,262   $5,000   $34,978,149 
Additions   154,750    -    325,089    15,000    -    494,839 
Balance as of March 31, 2026  $27,790,614   $230,041   $6,653,071   $794,262   $5,000   $35,472,988 
                               
Accumulated Depreciation                              
Balance as of January 1, 2025  $(5,738,488)  $(183,984)  $(1,906,976)  $(210,985)  $(4,557)  $(8,044,990)
Depreciation   (1,401,997)   (26,017)   (576,282)   (71,690)   (443)   (2,076,429)
Disposals and transfers   204,610    -    -    (20,027)   -    184,583 
Balance as of December 31, 2025  $(6,935,875)  $(210,001)  $(2,483,258)  $(302,702)  $(5,000)  $(9,936,836)
Depreciation   (354,530)   (6,616)   (170,300)   (24,664)   -    (556,110)
Balance as of March 31, 2026  $(7,290,405)  $(216,617)  $(2,653,558)  $(327,366)  $(5,000)  $(10,492,946)
                               
Net Book Value                              
March 31, 2026  $20,500,209   $13,424   $3,999,513   $466,896   $-   $24,980,042 
December 31, 2025  $20,699,989   $20,040   $3,844,724   $476,560   $-   $25,041,313 

 

There was depreciation expense for the three months ended March 31, 2026 and 2025 of $556,110 and $450,486, respectively. These amounts were included as both cost of goods sold ($282,650 and $240,733 respectively) and operating expenses ($273,460 and $209,753 respectively) on the consolidated statements of operations and comprehensive income (loss) for the three months ended March 31, 2026 and 2025.

 

5. Property and Equipment

 

As of December 31, 2025 and 2024, the property and equipment consists of the following:

 

Cost  Buildings and land   Office equipment and software   Machinery and equipment   Vehicles   Leasehold improvements   Total 
Balance as of January 1, 2024  $21,928,937   $230,323   $5,231,077   $287,535   $692,886   $28,370,758 
Additions   4,042,955    -    1,582,988    293,398    -    5,919,341 
Disposals and transfers   1,682,826    (10,885)   (1,202,765)   16,217    (687,886)   (202,493)
Balance as of December 31, 2024  $27,654,718   $219,438   $5,611,300   $597,150   $5,000   $34,087,606 
Additions   165,729    10,603    716,682    182,112    -    1,075,126 
Disposals and transfers   (184,583)   -    -    -    -    (184,583)
Balance as of December 31, 2025  $27,635,864   $230,041   $6,327,982   $779,262   $5,000   $34,978,149 
                               
Accumulated Depreciation                              
Balance as of January 1, 2024  $(4,234,199)  $(156,130)  $(1,958,989)  $(133,853)  $-   $(6,483,171)
Depreciation   (1,504,289)   (27,854)   52,013    (77,132)   (4,557)   (1,561,819)
Balance as of December 31, 2024  $(5,738,488)  $(183,984)  $(1,906,976)  $(210,985)  $(4,557)  $(8,044,990)
Depreciation   (1,401,997)   (26,017)   (576,282)   (71,690)   (443)   (2,076,429)
Disposals and transfers   204,610    -    -    (20,027)   -    184,583 
Balance as of December 31, 2025  $(6,935,875)  $(210,001)  $(2,483,258)  $(302,702)  $(5,000)  $(9,936,836)
                               
Net Book Value                              
December 31, 2025  $20,699,989   $20,040   $3,844,724   $476,560   $-   $25,041,313 
December 31, 2024  $21,916,230   $35,454   $3,704,324   $386,165   $443   $26,042,616 

 

There was depreciation expense and amortization expense for the years ended December 31, 2025 and 2024 of $2,076,429 and $1,561,819, respectively. These amounts were included as both cost of goods sold ($1,048,103 and $859,835 respectively) and operating expenses ($1,260,298 and $1,040,984 respectively) on the consolidated statements of operations and comprehensive income (loss) for the years ended December 31, 2025 and 2024.