Note 3. Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2016

Tables/Schedules

Land development costs

Land development costs, which have been capitalized, consist of the following:

Land under development	$4,934,323
Licenses	77,000
Engineering and costs associated with permitting	464,774
	$5,476,097

Schedule of Derivative Liability Reconciliation

The table listed below provides a reconciliation of the beginning and ending net balances for the derivative liability measured at fair value using significant unobservable inputs (Level 3) at June 30, 2016 and December 31, 2015:

	June 30,	December 31,
	2016	2015
Beginning balance	$1,704,570	$3,754,233
Total decrease in unrealized appreciation  (depreciation) included in net assets	190,100	(2,049,663)
Ending balance	$1,894,670	$1,704,570

Schedule of Components of Potential Dilutive Securities

The table below summarizes the components of potential dilutive securities at June 30, 2016 and 2015.

	June 30,	June 30,
Description	2016	2015
Convertible Preferred Stock	260,000	260,000
Options to Purchase Common Shares	3,440,000	3,440,000
Private Placement Warrants	1,061,500	2,086,500
Convertible Promissory Notes	1,925,000	1,925,000
Total	6,686,500	7,711,500