Property and Equipment

3 Months Ended

Mar. 31, 2019

Property, Plant and Equipment [Abstract]

Property and Equipment

Note 15 – Property, Plant and Equipment

Property and Equipment

Property and equipment are stated at cost, and except for land, depreciation is provided by use of a straight-line method over the estimated useful lives of the assets. The Company reviews property and equipment for potential impairment whenever events or changes in circumstances indicate that the carrying amounts of assets may not be recoverable. In February, 2017, the Company entered into a land purchase contract to acquire approximately 80 acres including water and mineral rights. The total cost of the land was $129,555. The Company paid $41,554 at closing and issued a note payable for $88,000. The Company is on the deed of trust of the property with a remaining note balance of $21,500 due the seller as of March 31, 2019 and December 31, 2018, respectively. The estimated useful lives of property and equipment are as follows:

Furniture and equipment	5 years
Manufacturing equipment	7 years

The Company's property and equipment consisted of the following at March 31, 2019, and December 31, 2018:

	December 31, 2018			December 31, 2018
Furniture and equipment	$	215,006		$	215,006
Land		129,555			129,555
Accumulated depreciation		(72,026	)		(61,928	)
Balance	$	272,535		$	282,633

Depreciation expense of $10,098 and $8,430 was recorded for the three months ended March 31, 2019, and 2018, respectively.