Quarterly report pursuant to Section 13 or 15(d)

Property, Plant and Equipment

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Property, Plant and Equipment
6 Months Ended
Jun. 30, 2015
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment

Note 3 – Property, Plant and Equipment

 

Property, plant and equipment and related accumulated depreciation consist of the following at June 30, 2015 and December 31, 2014:

 

    2015     2014  
Machinery and equipment     2,098,138     $ 2,094,316  
Airspace     865,076       865,076  
Transportation  equipment     561,240       561,240  
Improvements     321,645       306,372  
Office furniture and equipment     2,117       2,117  
Land Fill Area     72,098       72,098  
Total Property, plant and equipment     3,920,314       3,901,219  
Less: accumulated depreciation     (3,228,012 )     (3,156,814 )
Property, plant and equipment, net   $ 692,302     $ 744,405  

 

Depreciation expense for the six and three months ended June 30, 2015 and 2014 was $71,198, $35,720, $39,736 and $20,100, respectively.