v3.26.1
Note 5 - Property, Plant and Equipment
 3 Months Ended
Mar. 31, 2026
Notes to Financial Statements  
Property, Plant, and Equipment [Text Block]

5. Property, Plant and Equipment

 

  

Land and

          

Leasehold

  

Construction

     
  

Improvements

  

Buildings

  

Equipment

  

Improvements

  

in Progress

  

Total

 

Gross carrying amount

                        
                         

At December 31, 2025

 $287,967  $4,785,413  $14,818,427  $58,938,527  $2,913,703  $81,744,037 

Additions

  -   -   3,985   23,856   601,927   629,768 

Disposals

  -   -   (40,259)  -   -   (40,259)

At March 31, 2026

 $287,967  $4,785,413  $14,782,153  $58,962,383  $3,515,630  $82,333,546 
                         

Depreciation

                        
                         

At December 31, 2025

 $19,704  $910,195  $9,966,259  $36,726,201  $-  $47,622,359 

Additions

  2,107   113,771   495,946   1,611,866   -   2,223,690 

Disposals

  -   -   (40,259)  -   -   (40,259)

At March 31, 2026

 $21,811  $1,023,966  $10,421,946  $38,338,067  $-  $49,805,790 
                         

Carrying amount

                        
                         

At December 31, 2025

 $268,263  $3,875,218  $4,852,168  $22,212,326  $2,913,703  $34,121,678 

At March 31, 2026

 $266,156  $3,761,447  $4,360,207  $20,624,316  $3,515,630  $32,527,756 

 

For the three months ended March 31, 2026, depreciation expense was $2,223,690 (2025 - $3,081,283) of which $754,471 (2025 - $1,329,853) was included in cost of goods sold and inventory.

 

During the three months ended March 31, 2026, $0 was transferred from Construction in Progress to the other fixed accounts (2025 - $2,057,410).

 

During the three months ended March 31, 2026, a gain on the sale of fixed assets in the amount of $1,520,000 was included in other income.  The sale represents all assets of the Planet 13 Orange County dispensary and had a net book value of $0.

 

During the three months ended March 31, 2026, no impairment charges were recognized. (2025 - $0).