Note 3 - Property and Equipment

9 Months Ended

Sep. 30, 2016

Property, Plant and Equipment Disclosure [Text Block]

Note 3 - Property and Equipment

Property and equipment consists of the following:

	September 30,			December 31,
	2016			2015

Trucks and vehicles	$	54,269,251		$	54,153,487
Water transfer equipment		4,347,803			176,412
Other equipment		3,193,615			3,158,758
Buildings and improvements		3,835,110			3,752,841
Land		873,428			873,428
Disposal wells		391,003			391,003
Total property and equipment		66,910,210			62,505,929
Accumulated depreciation		(30,667,966	)		(26,011,268	)
Property and equipment – net	$	36,242,244		$	36,494,661

Effective January 1, 2016, HWWM acquired various water transfer assets from WET and HIIT for approximately $4 million. These assets include high and low volume pumps, aluminum pipe, manifolds, lay flat hose, generators, other support equipment including vehicles and trailers. As part of the HIIT acquisition, HWWM also acquired a new water treatment technology utilized in devices sold under the name of HydroFLOW. In accordance with FASB Accounting Standards Codification 805, Business Combinations, the Company has accounted for the transactions with both HIIT and WET as asset acquisitions.