Quarterly report pursuant to Section 13 or 15(d)

FIXED ASSETS

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FIXED ASSETS
 9 Months Ended
Dec. 31, 2023
Property, Plant and Equipment [Abstract]  
FIXED ASSETS

NOTE 3 – FIXED ASSETS

 

A summary of the fixed assets as of December 31, 2023 and March 31, 2023 is as follows:

 

   

December 31, 2023

    

March 31, 2023

  
      (unaudited)          
Land   $ 324,293     $ 324,293  
Buildings     5,528,758       5,495,150  
Machinery and equipment     12,306,776       12,293,112  
Autos and trucks     260,043       307,227  
Fixed assets,gross     18,419,870       18,419,782  
Accumulated depreciation     (4,656,233 )     (3,376,067 )
Fixed assets, net   $ 13,763,637     $ 15,043,715  

 

The unaudited condensed consolidated statements of operations reflect depreciation expense of approximately $433,000 and $416,000 and $1,305,000 and $1,350,000 for the three and nine months ended December 31, 2023 and 2022, respectively.