Annual report pursuant to Section 13 and 15(d)

Property, Plant and Equipment

v3.8.0.1
Property, Plant and Equipment
 12 Months Ended
Dec. 31, 2017
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment
Property, Plant and Equipment
Property, plant and equipment consist of the following: 
 
2017
 
2016
Land
$
62,916

 
$
62,916

Leasehold improvements
544,186

 
120,915

Buildings
412,301

 
641,526

Machinery, fixtures and equipment
81,229,311

 
66,099,880

Machinery and equipment under capital lease
401,077

 
199,767

Construction-in-progress
2,881,654

 
5,418,397

 
85,531,445

 
72,543,401

Less accumulated depreciation
50,451,436

 
45,219,309

Property, plant and equipment, net
$
35,080,009

 
$
27,324,092

 
The Company recorded depreciation expense of $5,294,695, $4,235,203, and $4,356,911 for 2017, 2016 and 2015, respectively. Accumulated depreciation includes $86,357 and $25,341 at December 31, 2017 and December 31, 2016, respectively, for assets acquired under capital leases.