Annual report pursuant to Section 13 and 15(d)

Property, plant and equipment

Property, plant and equipment

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment, net

Property, plant and equipment at December 31, 2023 and 2022 consisted of the following:


	Estimated Useful Life (in Years)	2023		2022
Energy systems	10 - 15 years	$	2,810,232	$	2,810,232
Machinery and equipment	5 - 7 years	1,744,596		1,624,885
Furniture and fixtures	5 years	212,963		196,007
Computer software	3 - 5 years	192,865		192,865
Leasehold improvements	*	466,789		466,789
		5,427,445		5,290,778
Less - accumulated depreciation and amortization		(4,264,868)		(3,883,058)
Net property, plant and equipment		$	1,162,577	$	1,407,720

* Lesser of estimated useful life of asset or lease term

Depreciation and amortization expense on property and equipment for the years ended December 31, 2023 and 2022 was $454,859 and $501,418, respectively. During the year ended December 31, 2023, we received proceeds of $34,655 from the disposition of certain assets and reversed $8,687 of accrued decomissioning costs from a former ADG energy site, realizing a gain of $36,207. During the year ended December 31, 2022 , we received proceeds of $72,655 from the disposition of certain assets, realizing a gain of $41,931.

During the year ended December 31, 2022, we determined that three of the ADGE customer contracts terminated due to the customers failure to perform their obligations pursuant to the contractual agreements and deemed the assets related to the contracts at these sites to be impaired. We recorded a non-cash impairment of $156,655 which is included in the consolidated statement of operations for the year ended December 31, 2022, within long-lived asset impairment.

During the year ended December 31, 2023 there were no ADGE contract terminations.