Property, plant and equipment

9 Months Ended

Sep. 30, 2014

(5) Property, plant and equipment

Property, plant and equipment consisted of the following:

	September 30, 2014			December 31, 2013
Land and improvements	$	699,308		$	3,049,765
Buildings and improvements		6,357,967			19,788,447
Equipment		2,920,561			1,306,597
Construction in progress		10,621			425,424

		9,988,457			24,570,233
Less accumulated depreciation		(1,487,214	)		1,722,379

	$	8,501,243		$	22,847,854

Depreciation expense was $$646,465 and $1,667,619 for three and nine months ended September 30, 2014, respectively, and was $499,812 and $1,265,049 for three and nine months ended September 30, 2013, respectively. Certain assets disposed of in 2014 reduced accumulated depreciation at September 30, 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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