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7. Property, Plant, and Equipment

3 Months Ended

Mar. 31, 2015

7. Property, Plant, and Equipment

Property, plant and equipment at March 31, 2015 and December 31, 2014, consisted of the following:

		March 31, 2015		December 31, 2014
Mill land	$	225,289	$	225,289
Mill building		536,193		536,193
Milling equipment		4,005,623		4,001,771
		4,767,105		4,763,253
Less accumulated depreciation		(196,240)		(152,151)
Total mill		4,570,865		4,611,102
Building and equipment at cost		252,348		252,348
Less accumulated depreciation		(221,756)		(216,926)
Total building and equipment		30,592		35,422
Land		1,007,675		1,007,675
Total	$	5,609,132	$	5,654,199

- 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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