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Note 3 - Property and Equipment
 9 Months Ended
Sep. 30, 2023
Notes to Financial Statements  
Property, Plant and Equipment Disclosure [Text Block]

Note 3:

Property and Equipment

 

Property and equipment consisted of the following:

 

   

September 30,

    

December 31,

  
   

2023

    

2022

  
                 

Land

   $ 6,815,711     $ 6,815,711  

Timber

     2,250,761       2,230,564  

Equipment

     120,873       120,873  
      9,187,345       9,167,148  

Accumulated depreciation

     (90,732 )     (87,536 )

Total

   $ 9,096,613     $ 9,079,612  

 

During the nine months ended September 30, 2023 and 2022, the Company had a gain on sale of land of $149,992 and $5,667, respectively.

 

Depreciation expense was $3,196 and $1,901 for the nine months ended September 30, 2023 and 2022, respectively.

 

Depletion expense was $540 and $737 for the nine months ended September 30, 2023 and 2022, respectively.