Property and Equipment

3 Months Ended

Mar. 31, 2012

Note 8 - Property and Equipment

Major classes of property and equipment together with their estimated useful lives, consisted of the following:

	Years	March 31, 2012			December 31, 2011
Land		$	1,663,020		$	1,663,020
Building and improvements	20		922,945			922,945
Machinery and equipment	7-15		112,991			112,991
Office equipment and furniture	7		150,900			147,390
			2,849,856			2,846,346
Less accumulated depreciation			(832,864	)		(817,814	)
Net property and equipment		$	2,016,992		$	2,028,532

Depreciation expense for the three months ended March 31, 2012 and 2011 was $15,050 and $16,106, respectively.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

+ References+ Details