Quarterly report pursuant to Section 13 or 15(d)

Note 4 - Property and Equipment

v3.4.0.3
Note 4 - Property and Equipment
3 Months Ended
Mar. 31, 2016
Notes  
Note 4 - Property and Equipment

Note 4 – Property and Equipment

 

Property and equipment are as follows:

 

 

March 31,

December 31,

 

2016

2015

 

 

 

Land

$-

$-

Plantation development costs

-

-

Plantation equipment

10,574

10,574

Office equipment

65,246

64,729

 

 

 

Total cost

75,820

75,303

Less accumulated depreciation

(68,726)

(67,435)

 

 

 

Property and equipment, net

$7,094

$7,868

 

 

 

 

Plantation equipment is depreciated using the straight-line method over estimated useful lives of 5 to 15 years.  The Company recorded $1,291 in depreciation expense in the three months ended March 31, 2016 and $115,736 in the year ended December 31, 2015.