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5. Land, Property and Equipment

6 Months Ended

Dec. 31, 2014

Property, Plant and Equipment [Abstract]

Land, Property and Equipment at December 31, 2014 and June 30, 2014 consist of the following:

	June 30, 2014			Additions			December 31, 2014
Office furniture and equipment	$	51,300		$	-		$	51,300
Water disposal facility		2,714,600			3,600			2,718,200
Production equipment		232,000			114,300			346,300
		2,997,900			117,900			3,115,800
Less accumulation depreciation		(371,800	)		(91,700	)		(463,500	)
Land and improvements		1,536,900			73,500			1,610,400
Net book value	$	4,163,000		$	99,700		$	4,262,700

- 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.

+ References+ Details