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Note 3 - Property and Equipment

9 Months Ended

Sep. 30, 2024

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,
		2024				2023
Land		$	6,815,711			$	6,815,711
Timber			2,250,551				2,250,616
Equipment			120,873				120,873
			9,187,135				9,187,200
Accumulated depreciation			(94,993	)			(91,797	)
Total		$	9,092,142			$	9,095,403

During the nine months ended September 30, 2024 and 2023, the Company had a gain on sale of land of $140,582 and $149,992, respectively.

Depreciation expense was $3,196 for the nine months ended September 30, 2024 and 2023, respectively.

Depletion expense was $65 and $540 and for the nine months ended September 30, 2024 and 2023, respectively.

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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

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-Topic 360
-Name Accounting Standards Codification
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-Name Accounting Standards Codification
-Section 50
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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