Annual report pursuant to Section 13 and 15(d)

Property, Plant and Equipment

v3.19.1
Property, Plant and Equipment
12 Months Ended
Dec. 31, 2018
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment
Property, Plant and Equipment
Property, plant and equipment consist of the following: 
 
2018
 
2017
Land
$
62,916

 
$
62,916

Leasehold improvements
1,162,942

 
544,186

Buildings
412,301

 
412,301

Machinery, fixtures and equipment
91,514,620

 
81,229,311

Machinery and equipment under capital lease
1,416,114

 
401,077

Construction-in-progress
3,643,795

 
2,881,654

 
98,212,688

 
85,531,445

Less accumulated depreciation
57,288,233

 
50,451,436

Property, plant and equipment, net
$
40,924,455

 
$
35,080,009

 
The Company recorded depreciation expense of $6,411,900, $5,294,695, and $4,235,203 for 2018, 2017 and 2016, respectively. Accumulated depreciation includes $707,112 and $86,357 at December 31, 2018 and December 31, 2017, respectively, for assets acquired under capital leases.