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Note 3 - Property and Equipment

6 Months Ended

Jun. 30, 2014

Note 3 - Property and Equipment

On December 26, 2013, the Company acquired two adjacent parcels of land located in Wildwood, Florida totaling approximately 0.90 acres. The property includes a 1,400 square foot corporate office building and an additional parcel of land that includes a mobile home. The real estate and improvements located on it were acquired from TD Bank, N.A., an unrelated party, for a purchase price of $47,500 plus customary closing costs. The Company paid the purchase price in cash at closing.

Property and equipment are stated at cost and consist of the following categories as of June 30, 2014 and December 31, 2013:

	June 30, 2014	December 31, 2013
Land	5,651	5,651
Machinery & Equipment	14,380	14,380
Buildings & Improvements	178,369	43,677
Total Property & Equipment	198,400	63,708
Less: Accumulated Depreciation & Amortization	(7,635)	(3,645)

Net Property and Equipment	190,765	60,063

During the three months ended June 30, 2014, the Company transferred $41,033 from construction in progress to Buildings & Improvements, as the related asset was completed and ready for its intended use on April 8, 2014.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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