NOTE 5 - PROPERTY AND EQUIPMENT 

During the year ended December 31, 2015 Mia Development LLC, a subsidiary of MariMed purchased $3,048,776 in building improvements, land and equipment. There was $2,666 in property and equipment on the balance sheet at December 31, 2014 and $84,140 at December 31, 2015. Depreciation expense for the year ended December 31, 2015 was $839,336. There was no depreciation expense in the year ended December 31, 2014. Refer to Note 15 for further discussion.