Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies

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Commitments and Contingencies
6 Months Ended
Jun. 30, 2013
Commitments And Contingencies Disclosure [Abstract]  
Commitments and Contingencies

NOTE 8. COMMITMENTS AND CONTINGENCIES

In connection with the execution of a new lease on our Colding Loop property, which has 181 farmable acres, during the first lease year, we are required to install a new well and irrigation equipment on the 121 acres currently being farmed by the tenant. These expenditures are estimated to cost approximately $400,000, of which $39,000 had been expended as of June 30, 2013. In addition, if the tenant notifies us of their intention to fully utilize the additional 60 acres of the property, we will be required to install a new well and irrigation equipment to cover the additional 60 acres, which is estimated to cost approximately $300,000.