As of September 30, 2024 and 2023, property and equipment consisted of the following:

 

  

September 30,

2024

  

September 30,

2023

 
Machinery and equipment  $346,900   $346,900 
Office equipment   3,064    5,488 
Motor vehicles   109,276    64,082 
Construction-in-progress   980,883    497,000 
Leasehold improvements   18,000    54,049 
Total   1,458,123    967,519 
Less: accumulated depreciation   (157,540)   (97,935)
Property and equipment, net  $1,300,583   $869,584 
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Historical Timeline

Fiscal YearFiled
2024Dec 9, 2024Showing above
2023Jan 16, 2024

About PP&E Disclosures

The PP&E disclosure details a company's physical asset base — land, buildings, machinery, and equipment — along with the depreciation methods and useful life assumptions that determine how these costs flow through the income statement. Capitalization policy thresholds reveal management's judgment on the boundary between expense and asset, directly affecting both reported earnings and asset values.

Key signals: changes in estimated useful lives or depreciation methods can materially shift reported earnings without any operational change. Compare capital expenditures against depreciation expense — when capex consistently trails depreciation, the asset base may be aging and underinvested. Watch for large asset impairments or write-downs that signal overvalued carrying amounts. Asset retirement obligations reveal future environmental or decommissioning costs that are often underappreciated. Compare PP&E intensity (PP&E-to-revenue) against industry peers to assess capital efficiency and competitive positioning.