Quarterly report pursuant to Section 13 or 15(d)

FIXED ASSETS

v3.21.2
FIXED ASSETS
 6 Months Ended
Sep. 30, 2021
FIXED ASSETS  
4. FIXED ASSETS

NOTE 4 – FIXED ASSETS

 

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

 

 

 

September 30,

2021

 

 

March 31,

2021

 

Land

 

 $ 324,293

 

 

 $ 324,293

 

Buildings

 

 

 5,002,712

 

 

 

 4,702,063

 

Machinery and equipment

 

 

 7,897,554

 

 

 

 7,580,873

 

Autos and trucks

 

 

 247,356

 

 

 

 213,849

 

 

 

 

 13,471,915

 

 

 

 12,891,078

 

Accumulated depreciation

 

 

 (1,201,928 )

 

 

 (4,52158 )

Fixed assets, net

 

 $ 12,269,987

 

 

 $ 12,236,557

 

 

The consolidated statements of operations reflect depreciation expense of approximately $307,000 and $9,000 and $661,000 and $20,000 for the three and six months ended September 30, 2021 and 2020, respectively.