Annual report pursuant to Section 13 and 15(d)

Property, Plant and Equipment

v3.19.1
Property, Plant and Equipment
12 Months Ended
Dec. 31, 2018
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment

6. Property, Plant and Equipment

 

Property, plant and equipment consists of the following:

 

    December 31, 2018     December 31, 2017  
Machinery & equipment   $ 3,982,112     $ 11,961,470  
Less accumulated depreciation     (1,932,112 )     (960,197 )
Property, plant and equipment, net   $ 2,050,000     $ 11,001,273  

 

Property, plant and equipment, net decreased from December 31, 2017 to December 31, 2018 due primarily to 2018 impairment charges, sales of U.S. assets in the fourth quarter of 2018, and depreciation of $14.2 million recorded during 2018.