Quarterly report pursuant to Section 13 or 15(d)

FIXED ASSETS

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FIXED ASSETS
 9 Months Ended
Dec. 31, 2021
FIXED ASSETS  
4. FIXED ASSETS

NOTE 4 – FIXED ASSETS

 

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

 

 

 

December 31,

2021

 

 

March 31,

2021

 

Land

 

 $ 324,293

 

 

 $ 324,293

 

Buildings

 

 

 5,007,505

 

 

 

 4,702,063

 

Machinery and equipment

 

 

 9,607,180

 

 

 

 7,580,873

 

Autos and trucks

 

 

 247,356

 

 

 

 213,849

 

 

 

 

 15,186,334

 

 

 

 12,891,078

 

Accumulated depreciation

 

 

 (1,420,062 )

 

 

 (4,52158 )

Fixed assets, net

 

 $ 13,766,272

 

 

 $ 12,236,557

 

 

The consolidated statements of operations reflect depreciation expense of approximately $218,000 and $18,000 and $830,000 and $38,000 for the three and nine months ended December 31, 2021 and 2020, respectively.