Note 3. Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2017

Tables/Schedules

Land development costs

Land development costs, which have been capitalized, consist of the following at June 30, 2017 and December 31, 2016:

Land under development	$ 4,934,323
Licenses	77,000
Engineering and costs associated with permitting	464,774
Total land held for development	$ 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, 2017 and December 31, 2016:

	June 30,	December 31,
	2017	2016
Beginning balance	$ 2,030,289	$ 1,704,570
Total unrealized (appreciation) depreciation	(445,802)	325,719
Ending balance	$ 1,584,487	$ 2,030,289

Schedule of Components of Potential Dilutive Securities

The table below summarizes the components of potential dilutive securities at June 30, 2017 and 2016.

	June 30,	June 30,
Description	2017	2016
Convertible Preferred Stock	260,000	260,000
Options to Purchase Common Shares	3,415,000	3,440,000
Private Placement Warrants	1,036,500	1,061,500
Convertible Promissory Notes	1,925,000	1,925,000
Total	6,636,500	6,686,500