NOTE 6 – FIXED ASSETS

Fixed assets are comprised of land and properties that have been acquired, built out for commercial use within the legal and medical cannabis industry, and then leased to third parties. These amounts are shown net of accumulated depreciation.

During the nine months ended September 30, 2017, fixed asset purchases were $11.5 million compared to $3.3 million during the same period in 2016. These purchases included the acquisition of properties in Hagerstown, MD and Middleborough, MA, and the buildout of facilities in Lewes, DE, Clark County, NV, and Hagerstown, MD.

Depreciation and amortization for the nine months ended September 30, 2017 and 2016 was approximately $264,000 and $166,000, respectively.