v3.24.2.u1
PROPERTY, PLANT, AND EQUIPMENT
 3 Months Ended
Jun. 30, 2024
Property, Plant and Equipment [Abstract]  
PROPERTY, PLANT, AND EQUIPMENT

NOTE 6 – PROPERTY, PLANT, AND EQUIPMENT

 

Property and equipment consisted of the following at June 30, 2024 and March 31, 2024:

 

   June 30, 2024   March 31, 2024 
Leasehold Improvements  $257,009   $257,009 
Building   29,243,613    29,143,445 
Furniture and Fixtures   450,432    439,990 
Vehicles   153,254    153,254 
Equipment   46,546,451    45,467,137 
Tooling   143,710    143,710 
Construction in Progress   3,014,885    2,785,616 
Total property and equipment  $79,809,354   $78,390,161 
Less accumulated depreciation   (21,810,421)   (20,308,121)
Net property and equipment  $57,998,933   $58,082,040 

 

Depreciation Expense for the three months ended June 30, 2024 and 2023 totaled $1,502,965 and $1,353,327, respectively. Of these totals $1,187,520 and $1,152,678 were included in cost of goods sold for the three months ended June 30, 2024 and 2023. Additionally, $315,445 and $200,648 were included in depreciation and amortization expenses in operating expenses for the three months ended June 30, 2024 and 2023.