Annual report pursuant to Section 13 and 15(d)

FIXED ASSETS

v3.23.2
FIXED ASSETS
12 Months Ended
Mar. 31, 2023
Property, Plant and Equipment [Abstract]  
FIXED ASSETS

NOTE 4 – FIXED ASSETS

 

A summary of the fixed assets as of March 31, 2023 and March 31, 2022 is as follows:

 

             
   

March 31,

2023

   

March 31,

2022

 
Land   $ 324,293     $ 324,293  
Buildings     5,495,150       5,611,723  
Machinery and equipment     12,293,112       10,524,343  
Autos and trucks     307,227       247,356  
Fixed assets,Gross     18,419,782       16,707,715  
Accumulated depreciation     (3,376,067 )     (1,909,612 )
Fixed assets, net   $ 15,043,715     $ 14,798,103  

 

The consolidated statements of operations reflect depreciation expense of approximately $1,795,000 and $1,307,000 for the years ended March 31, 2023 and 2022, respectively.