Note 4 - Land and Timber Purchases

12 Months Ended

Dec. 31, 2011

Property, Plant and Equipment [Table Text Block]

Note 4.

Land and Timber Purchases:

During the first quarter of 2011, the Company purchased two parcels of land with standing timber for approximately $592,750. Approximately 320 acres were purchased for $330,665 and the standing timber was estimated to be valued at $262,085 based on timber cruises.

During the fourth quarter of 2011, the Company purchased eight parcels of land with standing timber for approximately $1,280,000. Approximately 800 acres were purchased for $898,000 and the standing timber was estimated to be valued at $382,000 based on timber cruises.

- Definition

Tabular disclosure of the useful life and salvage value of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software.

+ References+ Details