v3.25.4
Property And Equipment Net
9 Months Ended 12 Months Ended
Sep. 30, 2025
Dec. 31, 2024
Property And Equipment Net    
Property, Plant, and Equipment Disclosure [Text Block]

Note 5 - Property and Equipment, Net

Property and equipment at September 30, 2025 and December 31, 2024 are as follows:

​

​

​

​

​

​

​

​

​

  ​ ​ ​

September 30,

  ​ ​ ​

December 31,

​

​

2025

​

2024

Equipment & installation

​

$

1,096,979

​

$

1,096,979

Leasehold improvements

​

 

117,512

​

 

117,512

Trucking equipment

​

 

911,377

​

 

911,377

Lab equipment

​

 

747,469

​

 

725,626

Office equipment, computer equipment and software

​

 

3,426

​

 

1,874

Total equipment

​

 

2,876,763

​

 

2,853,368

​

​

​

​

​

​

​

Less: accumulated depreciation

​

 

(2,141,961)

​

 

(2,047,680)

Construction in process

​

 

1,545,000

​

 

1,545,000

Property and equipment, net

​

$

2,279,802

​

$

2,350,688

​

The Company uses the straight-line method of depreciation over estimated useful lives of 2 to 5 years. During the three months ended September 30, 2025 and 2024, depreciation expense was $42,819 and $6,581, respectively. During the nine months ended September 30, 2025 and 2024, depreciation expense was $94,281 and $8,159, respectively.

Note 6 - Property and Equipment, Net

Property and equipment at December 31, 2024 and December 31, 2023 are as follows:

​

​

​

​

​

​

​

​

​

  ​ ​ ​

December 31,

  ​ ​ ​

December 31,

​

​

2024

​

2023

Equipment & installation

​

$

1,096,979

​

$

1,095,139

Leasehold improvements

​

 

117,512

​

 

101,821

Trucking equipment

​

 

911,377

​

 

845,102

Lab equipment

​

 

725,626

​

 

—

Office equipment, computer equipment and software

​

 

1,874

​

 

1,874

Total equipment

​

 

2,853,368

​

 

2,043,936

​

​

​

​

​

​

​

Less: accumulated depreciation

​

 

(2,047,680)

​

 

(2,035,978)

Construction in process

​

 

1,545,000

​

 

1,588,000

Property and equipment, net

​

$

2,350,688

​

$

1,595,958

​

The Company uses the straight-line method of depreciation over estimated useful lives of 2 to 5 years. During the year ended December 31, 2024 and 2023 depreciation expense was $11,702 and $12,927, respectively. At December 31, 2024, lab equipment included $725,626 of lab equipment not yet placed in service.

At December 31, 2024 and 2023, the Company concluded that Company’s plant construction in process asset had become impaired based on the existing and anticipated future economic outlook. As a result, the Company impaired the asset to reduce the carrying value to fair value. Estimated fair value of the impaired long-lived asset is based on the estimated cost to replace the asset. As a result of the uncertain cash flows related to the Company’s capitalized construction costs, the Company has recorded an impairment charge of $43,000 (2023 - $219,707).