Property, plant and equipment

3 Months Ended

Mar. 31, 2014

(5) Property, plant and equipment

Property, plant and equipment consisted of the following:

	March 31, 2014		December 31, 2013
Land and improvements	$	2,976,654	$	3,049,765
Buildings and improvements	18,720,448		19,788,447
Equipment	1,333,028		1,306,597
Construction in progress	750,038		425,424
	23,780,168		24,570,233
Less accumulated depreciation	2,151,625		1,722,379
	$	21,628,543	$	22,847,854

Depreciation expense was $561,541 and $239,577 for three months ended March 31, 2014 and 2013, respectively. Certain assets disposed of in 2014 reduced accumulated depreciation at March 31, 2014. See footnote (2) for dispositions.

- 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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