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Note 4 - Land Purchases and Sales
 12 Months Ended
Dec. 31, 2017
Notes to Financial Statements  
Real Estate Disclosure [Text Block]
Note
4
.      Land Purchases and Sales
 
Land Purchases
 
During the year ended
December 31, 2017,
the Company did
not
purchase any lands. However, the Company did incur costs of
$76,432
to clear, survey and improve drainage on certain lands. These costs increase the value of the land and were
not
considered maintenance costs.
 
During the year ended
December 31, 2016,
the Company purchased the following lands:
 
Quarter
  
+/-
Acres
  
Louisiana
Parish
  
Ownership
    
Land
    
Timber
    
Mineral
Rights %
  
1
st
    
40
  
Beauregard
    
100
 %   $
59,638
     $
10,000
      
0.00
 %
2
nd
    
129
  
Beauregard
    
100
 %   $
198,874
     $
34,200
      
50.00
 %
3
rd
    
880
  
Calcasieu
    
100
 %   $
1,532,092
     $
408,000
      
50.00
 %
3
rd
    
80
  
Calcasieu
    
100
 %   $
74,895
     $
58,000
      
100.00
 %
 
Land
Sales
 
During the year ended
December 31, 2017,
the Company sold the following lands:
 
Quarter
    
+/-
Acres
  
Louisiana
Parish
  
Ownership
 
  
Land
    
Timber
    
Mineral
Rights %
  
1      
1
  
Calcasieu
    
100
%
   $
3,390
      
--
      
0
 %
3      
2
  
Calcasieu
  
1/6
th
   $
888
      
--
      
0
 %
3      
44
  
Calcasieu
  
1/6
%
   $
31,196
      
--
      
50
 %
4      
0.4
  
Calcasieu
    
100
%
   $
3,914
      
--
      
0
 %
 
The
3
rd
quarter sale of +/-
44
acres in Calcasieu parish
was
structured as a “deferred exchange using a qualified intermediary” pursuant to Paragraph
1031
of the Internal Revenue Code (
1031
Exchange) for income tax purposes. The proceeds from this transaction,
$33,821
are held in restricted cash at year end.
 
During the year ended
December 31, 2016,
the Company sold
no
land.