Note 5 - Property and Equipment

3 Months Ended

Mar. 31, 2019

Notes to Financial Statements

Property, Plant and Equipment Disclosure [Text Block]

Note

5

:      Property and Equipment

Property and equipment consisted of the following:

	March 31,			December 31,
	2019			2018
Land	$	7,023,103		$	7,051,412
Timber		2,180,251			2,162,390
Building and equipment		108,602			108,602
		9,311,956			9,322,404
Accumulated depreciation		(76,923	)		(76,416	)
Total	$	9,235,033		$	9,245,988

During the

three

months ended

March 31, 2019

and

2018,

the Company had a gain on sale of land of

$75,926

and

$878,320,

respectively. For the

three

months ended

March 31, 2018,

$767,147

of the gain represented gain on the sale of an undivided

1/6

th

ownership interest in land.

Depreciation, depletion and amortization expense was

$616

and

$8,735

for the

three

months ended

March 31, 2019

and

2018,

respectively.