Note 3 - Property and Equipment

9 Months Ended

Sep. 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:

	September 30,			December 31,
	2021			2020
Land	$	6,844,541		$	7,018,547
Timber		2,214,057			2,196,942
Equipment		108,602			108,602
		9,167,200			9,324,091
Accumulated depreciation		(81,987	)		(80,470	)
Total	$	9,085,213		$	9,243,621

During the nine months ended September 30, 2021 and 2020, the Company had a gain on sale of land of $851,582 and $295,238, respectively.

Depreciation expense was $1,517 and $1,793 for the nine months ended September 30, 2021 and 2020, respectively.

Depletion expense was $534 and $683 for the nine months ended September 30, 2021 and 2020, respectively.