v3.26.1
6. PROPERTY, PLANT, AND EQUIPMENT
 6 Months Ended
Jun. 30, 2026
Notes  
6. PROPERTY, PLANT, AND EQUIPMENT

6.PROPERTY, PLANT, AND EQUIPMENT 

 

Property, plant, and equipment is comprised of the following:

 

 

June 30,
2026

 

December 31,
2025

Buildings

$

1,575,000  

$

1,575,000  

Machinery and equipment

 

6,085,776  

 

6,085,776  

Capital projects started

 

542,062  

 

81,840  

Office furniture and equipment

 

34,401  

 

34,401  

Total property, plant and equipment

 

8,237,239  

 

7,777,017  

Less: Accumulated depreciation and amortization

 

(3,180,637) 

 

(2,687,878) 

Property, plant and equipment, net

$

5,056,602  

$

5,089,139  

 

Eagle Springs Refinery consists of tanks, buildings, refining processing equipment, shop, lab and equipment. For Eagle Springs Refinery, each class of property, plant and equipment is estimated to have a useful life of 5 years and are being amortized over a straight-line basis.

 

Depreciation and amortization expense totaled $227,901 and $315,450 for the three months ended June 30, 2026 and 2025, and $492,758 and $557,454 for the six months ended June 30, 2026 and 2025, respectively.