v3.26.1
PROPERTY, EQUIPMENT AND LEASEHOLDS
 6 Months Ended
Jun. 30, 2026
Property, Plant, and Equipment [Abstract]  
PROPERTY, EQUIPMENT AND LEASEHOLDS

6. PROPERTY, EQUIPMENT AND LEASEHOLDS

 

   June 30, 2026   Accumulated   June 30, 2026 
   Cost   Depreciation   Net 
Buildings and improvements  $10,999,819   $5,318,893   $5,680,926 
Automobiles   178,938    25,119    153,819 
Office equipment   155,150    122,126    33,024 
Manufacturing equipment   20,761,465    8,821,596    11,939,869 
Land   299,027    —    299,027 
Technology   96,133    96,133    — 
   $32,490,532   $14,383,867   $18,106,665 

 

   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 the three months ended June 30, 2026 was $522,929 (2025 – $454,895); the amount of depreciation expense for the six months ended June 30, 2026 was $992,424 (2025 - $880,093) and is included in cost of sales in the unaudited 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 June 30, 2026 and December 31, 2025, the carrying value of the property has been reclassified to Property Held for Sale on the unaudited condensed interim consolidated balance sheet at its estimated net realizable value of $425,000.