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6. Property, Plant, and Equipment

9 Months Ended

Sep. 30, 2014

6. Property, Plant, and Equipment

Property, plant and equipment at September 30, 2014 and December 31, 2013, consisted of the following:

		September 30, 2014		December 31, 2013
Mill land	$	225,289	$	225,289
Mill building		529,336		522,786
Milling equipment		3,974,561		3,716,011
Total mill buildings and equipment		4,729,186		4,464,086
Less accumulated depreciation		(144,236)		(144,236)
Total mill		4,584,950		4,319,850
Building and equipment at cost		248,072		495,037
Less accumulated depreciation		(212,185)		(348,021)
Total building and equipment		35,887		147,016
Land		832,675		441,858
Total	$	5,453,513	$	4,908,724

During the nine months ended September 30, 2014 and 2013, $20,790 and $0 respectively in interest expense was capitalized to the mill.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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