NOTE 5 - PROPERTY AND EQUIPMENT |
9 Months Ended |
|---|---|
Sep. 30, 2016 | |
| Note 5 - Property And Equipment | |
| NOTE 5 - PROPERTY AND EQUIPMENT |
NOTE 5- PROPERTY AND EQUIPMENT During the nine months ended September 30, 2016 the Company purchased $3,346,355 in building, building improvements, land and equipment. During the nine months ended September 30, 2015 the Company purchased $2,500,249 in building improvements, land and equipment. All purchases were related to our MariMed subsidiary. Depreciation expense for the nine months ended September 30, 2016 was $166,108. Depreciation expense for the nine months ended September 30, 2015 was $0. Accumulated depreciation as of September 30 2016 was $1,036,548 and as of December 31, 2015 was $868,040. The Company purchases buildings and equipment which they sublease to entities that have licenses to grow and sell marijuana for medical purposes. |