Annual report pursuant to Section 13 and 15(d)

FIXED ASSETS

v3.22.2
FIXED ASSETS
 12 Months Ended
Mar. 31, 2022
Property, Plant and Equipment [Abstract]  
FIXED ASSETS

NOTE 4 – FIXED ASSETS

 

A summary of the fixed assets as of March 31, 2022 and March 31, 2021 is as follows:

 

   

March 31,

2022

    

March 31,

2021

  
Land   $ 324,293     $ 324,293  
Buildings     5,611,723       4,702,063  
Machinery and equipment     10,524,343       7,580,873  
Autos and trucks     247,356       213,849  
Fixed assets, gross      16,707,715       12,815,178  
Accumulated depreciation     (1,909,612 )     (584,521 )
Fixed assets, net   $ 14,798,103     $ 12,236,557  

 

The consolidated statements of operations reflect depreciation expense of approximately $1,307,000 and $346,000 for the years ended March 31, 2022 and 2021, respectively.