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Note 3 - Property and Equipment
3 Months Ended
Mar. 31, 2022
Notes to Financial Statements  
Property, Plant and Equipment Disclosure [Text Block]

Note 3:      Property and Equipment

 

Property and equipment consisted of the following:

 

  

March 31,

  

December 31,

 
  

2022

  

2021

 
         

Land

 $6,815,147  $6,815,147 

Timber

  2,219,352   2,214,985 

Equipment

  108,602   108,602 
   9,143,101   9,138,734 

Accumulated depreciation

  (83,003)  (82,496)

Total

 $9,060,098  $9,056,238 

 

During the three months ended March 31, 2022 and 2021, the Company had a gain on sale of land of $0 and $406,220, respectively.

 

Depreciation expense was $507 for the three months ended March 31, 2022 and 2021.

 

Depletion expense was $138 and $77 for the three months ended March 31, 2022 and 2021, respectively.