Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

10. PROPERTY, PLANT AND EQUIPMENT

v3.21.2
10. PROPERTY, PLANT AND EQUIPMENT
12 Months Ended
Dec. 31, 2020
Notes  
10. PROPERTY, PLANT AND EQUIPMENT

10.PROPERTY, PLANT AND EQUIPMENT 

Property, plant and equipment as of December 31, 2020 and 2019 consists of the following:

 

 

 

Land

 

Building

and Improve-

ments

 

Machinery

and

equipment

 

Right

of Use

Asset

 

Total

 

 

 

 

 

 

 

 

 

 

 

Cost

 

 

 

 

 

 

 

 

 

 

Balances, December 31, 2019

$

-

$

-

$

12,745

$

-

$

12,745

Acquired from MAG

 

2,951,456

 

78,487,261

 

12,758,984

 

-

 

94,197,701

Acquired from PV

 

-

 

-

 

319,876

 

475,396

 

795,272

Additions

 

-

 

19,327

 

161,093

 

-

 

180,420

Disposals

 

-

 

-

 

(288,846)

 

-

 

(288,846)

Translation Adjustment

 

(72,141)

 

(1,916,190)

 

(322,354)

 

(16,250)

 

(2,326,935)

Balance, December 31, 2020

$

2,879,315

$

76,590,398

$

12,641,498

$

459,146

$

92,570,357

Accumulated depreciation

 

 

 

 

 

 

 

 

 

 

Balances, December 31, 2019

$

-

$

-

$

1,898

$

-

$

1,898

Depreciation

 

-

 

4,221,323

 

1,468,548

 

68,757

 

5,758,628

Disposals

 

-

 

-

 

-

 

-

 

-

Translation Adjustment

 

-

 

(217,607)

 

(75,006)

 

(1,799)

 

(294,412)

 

 

 

 

 

 

 

 

 

 

 

Balances, December 31, 2020

$

-

$

4,003,716

$

1,395,440

$

66,958

$

5,466,114

Balances, December 31, 2020

$

2,879,315

$

72,586,682

$

11,246,058

$

392,188

$

87,104,243

 

A total $1,124,818 depreciation was capitalized to inventory during 2020 operations, of which $150,081 is included in cost of sales. Included in the Consolidated Statements of loss and Comprehensive loss, there is a gain on disposal of machinery and equipment amounting to $232,874.

 

 

 

Land

 

Building

and Improve-

ments

 

Machinery

and

equipment

 

Total

 

 

 

 

 

 

 

 

 

Cost

 

 

 

 

 

 

 

 

Balances, December 31, 2018

$

-

$

-

$

-

$

-

Additions

 

-

 

-

 

12,745

 

12,745

Disposals

 

-

 

-

 

-

 

-

Balance, December 31, 2019

$

-

$

-

$

12,745

$

12,745

Accumulated depreciation

 

 

 

 

 

 

 

 

Balances, December 31, 2018

$

-

$

-

$

-

$

-

Depreciation

 

-

 

-

 

1,898

 

1,898

Disposals

 

-

 

-

 

-

 

-

Balances, December 31, 2019

$

-

$

-

$

1,898

$

1,898

Balances, December 31, 2019

$

-

$

-

$

10,847

$

10,847