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Note 3 - Property and Equipment

6 Months Ended

Jun. 30, 2021

Notes to Financial Statements

Property, Plant and Equipment Disclosure [Text Block]

Note 3:      Property and Equipment

Property and equipment consisted of the following:

		June 30,				December 31,
		2021				2020
Land		$	6,863,575			$	7,018,547
Timber			2,210,626				2,196,942
Equipment			108,602				108,602
			9,182,803				9,324,091
Accumulated depreciation			(81,480	)			(80,470	)
Total		$	9,101,323			$	9,243,621

During the six months ended June 30, 2021 and 2020, the Company had a gain on sale of land of $590,265 and $253,907, respectively.

Depreciation expense was $1,010 and $467 for the six months ended June 30, 2021 and 2020, respectively.

Depletion expense was $430 and $184 for the six months ended June 30, 2021 and 2020, respectively.

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- References

No definition available.

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- Definition

The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 958
-SubTopic 360
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=120429125&loc=d3e99893-112916

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-URI http://asc.fasb.org/topic&trid=2155823

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 958
-SubTopic 360
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=120429125&loc=SL120174063-112916

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 958
-SubTopic 360
-Section 50
-Paragraph 1
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=120429125&loc=d3e99779-112916

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