NOTE 5 - PROPERTY AND EQUIPMENT
|6 Months Ended|
Jun. 30, 2016
|Note 5 - Property And Equipment|
|NOTE 5 - PROPERTY AND EQUIPMENT||
NOTE 5- PROPERTY AND EQUIPMENT
During the six months ended June 30, 2016 the Company purchased $1,500,773 in building improvements, land and equipment. During the six months ended June 30, 2015 the Company purchased $2,307,426 in building improvements, land and equipment. All purchases were related to our MariMed subsidiary. Depreciation expense for the six months ended June 30, 2016 was $99,686. Depreciation expense for the six months ended June 30, 2015 was $0. Accumulated depreciation as of June 30, 2016 was $970,126 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.
Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation.
Reference 1: http://www.xbrl.org/2003/role/presentationRef