Quarterly report pursuant to Section 13 or 15(d)

FIXED ASSETS

v3.21.2
FIXED ASSETS
 3 Months Ended
Jun. 30, 2021
FIXED ASSETS  
3. FIXED ASSETS

NOTE 3 – FIXED ASSETS

 

A summary of the fixed assets as of June 30, 2021 and March 31, 2021 is as follows:

 

 

 

June 30, 2021

 

 

March 31, 2021

 

Land

 

 $ 324,293

 

 

 $ 324,293

 

Buildings

 

 

 4,910,292

 

 

 

 4,702,063

 

Machinery and equipment

 

 

 7,755,454

 

 

 

 7,580,873

 

Autos and trucks

 

 

 232,301

 

 

 

 213,849

 

 

 

 

 13,222,340

 

 

 

 12,891,078

 

Accumulated depreciation

 

 

 (879,993 )

 

 

 (4,52158 )

Fixed assets, net

 

 $ 12,342,347

 

 

 $ 12,236,557

 

 

The fixed assets include the assets purchased in the asset acquisition on December 15, 2020, with VBF. The $10,136,000 consideration was allocated to the fixed assets acquired based on their relative fair value.