Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Mar. 06, 2015 | Mar. 21, 2014 | |
Document Type | 10-K | ||
Amendment Flag | FALSE | ||
Document Period End Date | 31-Dec-14 | ||
Trading Symbol | htm | ||
Entity Registrant Name | US GEOTHERMAL INC | ||
Entity Central Index Key | 1172136 | ||
Current Fiscal Year End Date | -28 | ||
Entity Filer Category | Smaller Reporting Company | ||
Entity Common Stock, Shares Outstanding | 107,063,029 | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well Known Seasoned Issuer | No | ||
Entity Public Float | $85,252,768 | ||
Document Fiscal Year Focus | 2015 | ||
Document Fiscal Period Focus | FY |
CONSOLIDATED_BALANCE_SHEETS
CONSOLIDATED BALANCE SHEETS (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Current: | ||
Cash and cash equivalents | $12,994,975 | $28,736,934 |
Restricted cash and bonds | 3,320,781 | 3,081,020 |
Trade accounts receivable | 3,774,133 | 4,106,806 |
Deferred income tax asset | 1,803,000 | 0 |
Other current assets | 1,550,359 | 1,079,262 |
Total current assets | 23,443,248 | 37,004,022 |
Investment in equity securities | 0 | 42,174 |
Restricted cash and bond reserves | 18,690,096 | 18,815,145 |
Property, plant and equipment, net of accumulated depreciation | 166,859,446 | 161,583,938 |
Intangible assets, net of accumulated amortization | 15,417,514 | 15,320,018 |
Net deferred income tax asset | 8,504,000 | 0 |
Total assets | 232,914,304 | 232,765,297 |
Current Liabilities: | ||
Accounts payable and accrued liabilities | 1,886,947 | 1,626,687 |
Related party accounts payable | 5,195 | 3,089 |
Current portion of capital lease obligations | 20,919 | 48,118 |
Current portion of notes payable | 4,336,271 | 4,127,170 |
Total current liabilities | 6,249,332 | 5,805,064 |
Long-term Liabilities: | ||
Long-term portion of capital lease obligations | 0 | 20,921 |
Asset retirement obligations | 1,400,000 | 0 |
Notes payable, less current portion | 94,376,351 | 99,226,423 |
Total long-term liabilities | 95,776,351 | 99,247,344 |
Total liabilities | 102,025,683 | 105,052,408 |
Commitments and Contingencies | 0 | 0 |
STOCKHOLDERS' EQUITY | ||
Capital stock (authorized: 250,000,000 common shares with a $0.001 par value; issued and outstanding shares at December 31, 2014 and 2013 were: 107,018,029 and 102,094,542; respectively) | 107,018 | 102,094 |
Additional paid-in capital | 103,669,371 | 100,381,207 |
Accumulated other comprehensive loss | 0 | -27,321 |
Accumulated deficit | -19,284,860 | -30,898,571 |
Total stockholders' equity, before Non-controlling interest | 84,491,529 | 69,557,409 |
Non-controlling interests | 46,397,092 | 58,155,480 |
Total stockholders' equity | 130,888,621 | 127,712,889 |
Total liabilities and stockholders' equity | $232,914,304 | $232,765,297 |
CONSOLIDATED_BALANCE_SHEETS_Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Common Stock, Shares Authorized | 250,000,000 | 250,000,000 |
Common Stock, Par Value Per Share | $0.00 | $0.00 |
Common Stock, Shares, Issued | 107,018,029 | 102,094,542 |
Common Stock, Shares, Outstanding | 107,018,029 | 102,094,542 |
CONSOLIDATED_STATEMENTS_OF_OPE
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Plant Revenues: | ||
Energy sales | $30,596,261 | $26,986,049 |
Energy credit sales | 372,521 | 384,885 |
Total plant operating revenues | 30,968,782 | 27,370,934 |
Plant Expenses: | ||
Plant production expenses | 9,701,506 | 7,704,871 |
Depreciation and amortization | 6,241,354 | 6,454,151 |
Total plant operating expenses | 15,942,860 | 14,159,022 |
Net Income from Plant Operations | 15,025,922 | 13,211,912 |
Expenses (Income): | ||
Corporate administration | 1,136,849 | 881,880 |
Professional and management fees | 986,742 | 1,284,936 |
Salaries and wages | 1,858,423 | 2,135,945 |
Stock based compensation | 1,339,496 | 756,935 |
Travel and promotion | 199,894 | 202,060 |
Exploration costs | 508,500 | 39,482 |
Interest expense | 4,060,133 | 3,895,890 |
Other (income) expenses | 346,588 | -115,865 |
Total expenses (income) | 10,436,625 | 9,081,263 |
Net Income Before Income Tax Expense | 4,589,297 | 4,130,649 |
Net income tax (expense) benefit | ||
Income taxes | -1,753,000 | -1,578,000 |
Change in deferred tax assets and liabilities | 12,060,000 | 1,578,000 |
Net income tax (expense) benefit | 10,307,000 | 0 |
Net Income | 14,896,297 | 4,130,649 |
Net income attributable to the non-controlling interests | -3,282,586 | -2,184,070 |
Net Income Attributable to U.S. Geothermal Inc. | 11,613,711 | 1,946,579 |
Other Comprehensive Income (Loss): | ||
Unrealized income (loss) on investment in equity securities | 27,321 | -23,377 |
Comprehensive Income Attributable to U.S. Geothermal Inc. | $11,641,032 | $1,923,202 |
Basic Net Income Per Share Attributable to U.S. Geothermal Inc. | $0.11 | $0.02 |
Diluted Net Income Per Share Attributable to U.S. Geothermal Inc. | $0.09 | $0.02 |
Weighted Average Number of Shares Outstanding for Basic Calculations | 104,273,319 | 101,795,364 |
Weighted Average Number of Shares, Stock Options and Warrants Outstanding for Diluted Calculations | 126,006,172 | 123,497,883 |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Operating Activities: | ||
Net Income | $14,896,297 | $4,130,649 |
Adjustments to reconcile net income to total cash provided by operating activities: | ||
Depreciation and amortization | 6,367,817 | 6,575,266 |
Stock based compensation | 1,339,496 | 756,935 |
Stock based officer bonus | 0 | 100,000 |
Gain on software refund | -13,239 | 0 |
Loss on disposal of geothermal water rights | 451,299 | 0 |
Loss on sale of securities | 27,967 | 0 |
Change in deferred tax assets and liabilities | -10,307,000 | 0 |
Net changes in: | ||
Trade accounts receivable, operating | 332,673 | -809,916 |
Accounts payable and accrued liabilities | 178,158 | 128,868 |
Prepaid expenses and other | -471,097 | -240,158 |
Total cash provided by operating activities | 12,802,371 | 10,641,644 |
Investing Activities: | ||
Purchases of property, plant and equipment | -3,746,083 | -13,868,842 |
Company acquisitions | -6,842,281 | 0 |
Proceeds from ITC cash grants receivable | 0 | 40,113,741 |
Proceeds from sale of equities held for investment | 41,528 | 0 |
Proceeds from software refund | 31,120 | 0 |
Net funding of restricted cash reserves and bonds | -4,712 | -17,474,465 |
Total cash provided (used) by investing activities | -10,520,428 | 8,770,434 |
Financing Activities: | ||
Issuance of share capital | 1,634,918 | 0 |
Contributions from non-controlling interest | 7,360 | 7,460 |
Distributions to non-controlling interest | -15,048,334 | -117,248 |
Proceeds from debt obligations | 0 | 16,570,400 |
Principal payments on notes payable and other obligations | -4,569,726 | -19,999,257 |
Principal payments on capital leases | -48,120 | -45,278 |
Total cash used by financing activities | -18,023,902 | -3,583,923 |
Increase (Decrease) in Cash and Cash Equivalents | -15,741,959 | 15,828,155 |
Cash and Cash Equivalents, Beginning of Period | 28,736,934 | 12,908,779 |
Cash and Cash Equivalents, End of Period | 12,994,975 | 28,736,934 |
Non-cash investing and financing activities: | ||
Purchase of property and equipment on account | 84,208 | 1,107,189 |
Purchase of property and equipment with notes payable | 0 | 745,105 |
Company acquisition by issuance of common stock | 318,674 | 0 |
Property and equipment costs reduced by settlement agreements | 0 | 4,406,958 |
Grants receivable used to decrease construction costs | 0 | 2,770,459 |
Other Items: | ||
Interest paid | $4,080,396 | $6,973,502 |
CONSOLIDATED_STATEMENTS_OF_CHA
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS EQUITY (USD $) | Common Shares [Member] | Additional Paid-In Capital [Member] | Accumulated Deficit [Member] | Accumulated Comprehensive Income (Loss) [Member] | Non-controlling Interest [Member] | Total |
Beginning Balance at Dec. 31, 2012 | $101,516 | $99,524,850 | ($32,845,150) | ($3,944) | $56,081,198 | $122,858,470 |
Beginning Balance (Shares) at Dec. 31, 2012 | 101,516,764 | |||||
Non-controlling equity contribution from Gerlach Green Energy, LLC | 7,460 | 7,460 | ||||
Distributions to non-controlling interest entity | -117,248 | -117,248 | ||||
Stock issued to shareholders of acquired company | 0 | |||||
Stock issued under terms of employment agreement | 578 | 99,422 | 100,000 | |||
Stock issued under terms of employment agreement (Shares) | 577,778 | |||||
Stock compensation | 756,935 | 756,935 | ||||
Unrealized loss on investment | -23,377 | -23,377 | ||||
Net income | 1,946,579 | 2,184,070 | 4,130,649 | |||
Ending Balance at Dec. 31, 2013 | 102,094 | 100,381,207 | -30,898,571 | -27,321 | 58,155,480 | 127,712,889 |
Ending Balance (Shares) at Dec. 31, 2013 | 102,094,542 | |||||
Non-controlling equity contribution from Gerlach Green Energy, LLC | 7,360 | 7,360 | ||||
Distributions to non-controlling interest entity | -15,048,334 | -15,048,334 | ||||
Stock issued to shareholders of acquired company | 693 | 317,981 | 318,674 | |||
Stock issued to shareholders of acquired company (Shares) | 692,769 | |||||
Stock issued by the exercise of employee stock options | 1,077 | 336,544 | 337,621 | |||
Stock issued by the exercise of employee stock options (Share) | 1,077,000 | |||||
Stock issued by the exercise of stock purchase warrants | 2,595 | 1,294,703 | 1,297,298 | |||
Stock issued by the exercise of stock purchase warrants (Shares) | 2,594,596 | |||||
Stock compensation | 559 | 1,338,936 | 1,339,495 | |||
Stock compensation (shares) | 559,122 | |||||
Unrealized loss and reclassification to net income | 27,321 | 27,321 | ||||
Net income | 11,613,711 | 3,282,586 | 14,896,297 | |||
Ending Balance at Dec. 31, 2014 | $107,018 | $103,669,371 | ($19,284,860) | $46,397,092 | $130,888,621 | |
Ending Balance (Shares) at Dec. 31, 2014 | 107,018,029 |
ORGANIZATION_AND_DESCRIPTION_O
ORGANIZATION AND DESCRIPTION OF BUSINESS | 12 Months Ended | ||
Dec. 31, 2014 | |||
ORGANIZATION AND DESCRIPTION OF BUSINESS [Text Block] | NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS | ||
U.S. Geothermal Inc. was incorporated on March 10, 2000 in the State of Delaware. U.S. Geothermal Inc. – Idaho was formed in February 2002, and is the primary subsidiary through which the Company conducts its operations. The Company constructs, manages and operates power plants that utilize geothermal resources to produce energy. The Company’s operations have been, primarily, focused in the Western United States of America. | |||
Basis of Presentation | |||
The Company consolidates subsidiaries that it controls (more-than- 50% owned) and entities over which control is achieved through means other than voting rights. These consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries, as well as three controlling interests. The accounts of the following companies are consolidated in these financial statements: | |||
i) | U.S. Geothermal Inc. (incorporated in the State of Delaware); | ||
ii) | U.S. Geothermal Inc. (incorporated in the State of Idaho); | ||
iii) | U.S. Geothermal Services, LLC (organized in the State of Delaware); | ||
iv) | Nevada USG Holdings, LLC (organized in the State of Delaware); | ||
v) | USG Nevada LLC (organized in the State of Delaware); | ||
vi) | Nevada North USG Holdings, LLC (organized in the State of Delaware); | ||
vii) | USG Nevada North, LLC (organized in the State of Delaware); | ||
viii) | Oregon USG Holdings, LLC (organized in the State of Delaware); | ||
ix) | USG Oregon LLC (organized in the State of Delaware); | ||
x) | Raft River Energy I LLC (organized in the State of Delaware); | ||
xi) | Gerlach Geothermal LLC (organized in the State of Delaware); | ||
xii) | USG Gerlach LLC (organized in the State of Delaware); | ||
xiii) | U.S. Geothermal Guatemala, S.A. (organized in Guatemala); | ||
xiv) | Geysers USG Holdings Inc. (incorporated in the State of Delaware); | ||
xv) | Western GeoPower, Inc. (incorporated in the State of California); | ||
xvi) | Etoile Holdings Inc. (incorporated in the Bahamas); | ||
xvii) | Mayacamas Energy LLC (organized in the State of California); | ||
xviii) | Skyline Geothermal LLC (organized in the State of Delaware); | ||
xix) | Skyline Geothermal Holding, Inc. (incorporated in the State of Delaware); and | ||
xx) | Earth Power Resources Inc. (incorporated in Delaware). | ||
All intercompany transactions are eliminated upon consolidation. | |||
In cases where the Company owns a majority interest in an entity but does not own 100% of the interest in the entity, it recognizes a non-controlling interest attributed to the interest controlled by outside third parties. The Company will recognize 100% of the assets and liabilities of the entity, and disclose the non-controlling interest. The statements of operations will consolidate the subsidiary’s full operations, and will separately disclose the elimination of the non-controlling interest’s allocation of profits and losses. |
SUMMARY_OF_SIGNIFICANT_ACCOUNT
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended | ||
Dec. 31, 2014 | |||
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Text Block] | NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ||
The following are summarized accounting policies considered to be significant by the Company’s management: | |||
Accounting Method | |||
The Company’s consolidated financial statements are prepared using the accrual basis of accounting in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) and have been consistently applied in the preparation of the consolidated financial statements. | |||
Use of Estimates | |||
The preparation of consolidated financial statements in accordance with generally accepted accounting principles requires the use of estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities known to exist as of the date the consolidated financial statements are published, and the reported amounts of revenues and expenses during the reporting period. Uncertainties with respect to such estimates and assumptions are inherent in the preparation of the Company’s consolidated financial statements; accordingly, it is possible that the actual results could differ from these estimates and assumptions and could have a material effect on the reported amounts of the Company’s consolidated financial position and consolidated results of operations. | |||
Cash and Cash Equivalents | |||
The Company considers all unrestricted cash, short-term deposits, and other investments with original maturities of no more than ninety days when acquired to be cash and cash equivalents for the purposes of the statement of cash flows. Under the Loan Guarantee Agreement at Neal Hot Springs with the Department of Energy, all funds for USG Oregon LLC are deposited into PNC Bank subject to certain procedural restrictions on the use of the funds. The waterfall of funds out of the Revenue account is processed semi-annually. At December 31, 2014, $3.8 million in USG Oregon LLC funds were deposited at PNC Bank in the Revenue account and $271,000 in Oregon USG Holdings LLC funds were deposited at Umpqua Bank, and were unavailable for immediate corporate needs. Discussion regarding restricted cash is included in Note 3. | |||
Accounts Receivable Allowance for Doubtful Accounts | |||
Trade Accounts Receivable Management estimates the amount of trade accounts receivable that may not be collectible and records an allowance for doubtful accounts. The allowance is an estimate based upon aging of receivable balances, historical collection experience, and the periodic credit evaluations of our customers’ financial condition. Receivable balances are written off when we determine that the balance is uncollectible. As of December 31, 2014 and 2013, there were no balances that were over 90 days past due and no balance in allowance for doubtful accounts was recognized. | |||
Grant Accounts Receivable For receivables from grants from Federal or State agencies, the Company records the receivable amounts net of the funds expected to be received. Therefore, no allowance accounts are considered to be necessary for receivables from grants at December 31, 2014 and 2013. | |||
Concentration of Credit Risk | |||
The Company’s cash and cash equivalents, including restricted cash, consisted of commercial bank deposits, money market accounts, and petty cash. Cash deposits are held in commercial banks in Boise, Idaho and Portland, Oregon. Deposits are guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000 per legal entity. At December 31, 2014, the Company’s total cash balance, excluding money market funds, was $4,487,085, and bank deposits amounted to $4,577,004. The primary difference was due to outstanding checks and deposits. Of the bank deposits, $3,156,637 was not covered by or was in excess of FDIC insurance guaranteed limits. At December 31, 2014, the Company’s money market funds invested, primarily, in government backed securities totaled $30,515,067 and were not subject to deposit insurance. | |||
Equity Securities | |||
The Company determines the appropriate classification of marketable securities at the time of purchase and reevaluates this designation as of each balance sheet date. The Company classifies these securities as either held-to-maturity, trading, or available-for-sale. All marketable securities and restricted investments were classified as available-for-sale securities. The Company classifies its investments as “available for sale” because it does not intend to actively buy and sell for short-term profits. The Company's investments are subject to market risk, primarily interest rate and credit risk. The fair value of investments is determined using observable or quoted market prices for those securities. | |||
Available-for-sale securities are carried at fair value, with unrealized gains and losses included as a component of accumulated other comprehensive income (loss). Realized gains and losses, declines in value judged to be other than temporary and interest on available-for-sale securities are included in net income. The cost of securities sold is based on the specific identification method whereby the gain or loss is calculated based upon the cost of specifically identified securities for each sales transaction. | |||
Property, Plant and Equipment | |||
Property, plant and equipment, including assets under capital lease, are recorded at historical cost. Costs of acquisition of geothermal properties are capitalized in the period of acquisition. Major improvements that significantly increase the useful lives and/or capabilities of the assets are capitalized. A primary factor in determining whether to capitalize construction type costs is the stage of the potential project’s development. Once a project is determined to be commercially viable, all costs directly associated with the development and construction of the project are capitalized. Until that time, all development costs are expensed. A commercially viable project will have, among other factors, a reservoir discovery well or other significant geothermal surface anomaly, a power transmission path that is identified and available, and an electricity off-taker identified. A valid reservoir discovery is generally defined when a test well has been substantially completed that indicates the presence of a geothermal reservoir that has a high probability of possessing the necessary temperatures, permeability, and flow rates. After a valid discovery has been made, the project enters the development stage. Generally, all costs incurred during the development stage are capitalized and tracked on an individual project basis. If a geothermal project is abandoned, the associated costs that have been capitalized are charged to expense in the year of abandonment. Expenditures for repairs and maintenance are charged to expense as incurred. Interest costs incurred during the construction period of defined major projects from debt that is specifically incurred for those projects are capitalized. Funds received from grants associated with capital projects reduce the cost of the asset directly associated with the individual grants. The offset of the cost of the asset associated with grant proceeds is recorded in the period when the requirements of the grant are substantially complete and the amount can be reasonably estimated. | |||
Direct labor costs, incurred for specific major projects expected to have long-term benefits will be capitalized. Direct labor costs subject to capitalization include employee salaries, as well as, related payroll taxes and benefits. With respect to the allocation of salaries to projects, salaries are allocated based on the percentage of hours that our key managers, engineers and scientists work on each project and are invoiced to the project each month. These individuals track their time worked at each project. Major projects are, generally, defined as projects expected to exceed $500,000. Direct labor includes all of the time incurred by employees directly involved with construction and development activities. General and/or indirect management time and time spent evaluating the feasibility of potential projects is expensed when incurred. Employee training time is expensed when incurred. | |||
Depreciation is calculated on a straight-line basis over the estimated useful life of the asset. Where appropriate, terms of property rights and revenue contracts can influence the determination of estimated useful lives. Estimated useful lives in years by major asset categories are summarized as follows: | |||
Estimated Useful | |||
Asset Categories | Lives in Years | ||
Furniture, vehicle and other equipment | 3 to 5 | ||
Power plant, buildings and improvements | 3 to 30 | ||
Wells | 30 | ||
Well pumps and components | 5 to 15 | ||
Pipelines | 30 | ||
Transmission lines | 30 | ||
Intangible Assets | |||
All costs directly associated with the acquisition of geothermal and surface water rights are capitalized as intangible assets. These costs are amortized over their estimated utilization period. There are several factors that influence the estimated utilization periods as well as underlying fair value that include, but are not limited to, the following: | |||
- | contractual expiration terms of the right, | ||
- | contractual terms of an associated revenue contract (i.e., PPAs), | ||
- | compliance with utilization and other requirements, and | ||
- | hierarchy of other right holders who share the same resource. | ||
Currently, amortization expense is being calculated on a straight-line basis over an estimated utilization period of 30 years for assets placed in service. If an intangible water or geothermal right is forfeited or otherwise lost, the remaining unamortized costs are expensed in the period of forfeiture. An impaired right is reduced to its estimated fair market value in the year the impairment is realized. Costs incurred that extend the term of an intangible right are capitalized and amortized over the new estimated period of utilization. | |||
Impairment of Long-Lived Assets | |||
The Company evaluates its long-term assets annually for impairment and when circumstances/events occur that may impact the fair value of the assets. An impairment loss would be recognized if the carrying amount of a capitalized asset is not recoverable and exceeds its fair value. The most recent assessment was performed based upon financial conditions and assumptions as of December 31, 2014, and there have not been any significant changes in financial conditions and assumptions subsequent to that assessment date. Management believes that there have not been any circumstances that have warranted the recognition of losses due to the impairment of long-lived assets. | |||
Stock Options Granted to Employees and Non-employees | |||
The Company follows financial accounting standards that require the measurement of the value of employee services received in exchange for an award of an equity instrument based on the grant-date fair value of the award. For employees, directors and officers, the fair value of the awards are expensed over the vesting period. The current vesting period for all such options is eighteen months. | |||
Non-employee stock-based compensation is granted at the Board of Director’s discretion to reward select consultants for exceptional performance. Prior to issuance of the awards, the Company was not under any obligation to issue the stock options. Subsequent to the award, the recipient was not obligated to perform any services. Therefore, the fair value of these options was expensed on the grant date, which was also the measurement date. | |||
Under the fair value recognition provisions, share-based compensation cost is measured at the grant date based on the value of the award and is recognized as expense over the vesting period. Determining the fair value of share-based awards at the grant date requires judgment. In addition, judgment is also required in estimating the amount of share-based awards that are expected to be forfeited. If actual results differ significantly from these estimates, stock-based compensation expense and our results of operations could be materially impacted. | |||
Stock Based Compensation Granted to Employees | |||
The Company recognizes the value of common stock granted to employees and directors over the periods in which the services are received. The value of those services is based upon the estimated fair value of the common stock to be awarded. Estimated fair value is adjusted each reporting period. At the end of each vesting period, estimated fair value is adjusted to fair market value. The adjustment is reflected in the reporting period in which the vesting occurs. | |||
Earnings Per Share | |||
The Company follows financial accounting standards, which provides for calculation of "basic" and "diluted" earnings per share. Basic earnings per share includes no dilution and is computed by dividing net income available to common shareholders by the weighted average common shares outstanding for the period. Diluted earnings per share reflect the potential dilution of securities that could share in the earnings of an entity similar to fully diluted earnings per share. Both basic and diluted were presented for the calculation of the income per share for the periods that reported income. Stock equivalents were not included in the calculation for the periods that reported losses since their inclusion would be considered anti-dilutive. Total common stock equivalents on a fully diluted basis at December 31, 2014 and 2013 were 126,744,104 ( 126,006,172 annual weighted average) and 124,494,963 ( 123,497,883 annual weighted average); respectively. | |||
Financial Instruments | |||
The Company’s financial instruments consist of cash and cash equivalents, trade account and other receivables, refundable tax credits, and accounts payable and accrued liabilities. Unless otherwise noted, it is management’s opinion that the Company is not exposed to significant interest, currency or credit risks arising from these financial instruments. The fair values of these financial instruments approximate their carrying values, unless otherwise noted. | |||
The Company’s functional currency is the U.S. dollar. Monetary items are converted into U.S. dollars at the rate prevailing at the balance sheet date. Resulting gains and losses are generally included in determining net income for the period in which exchange rates change. | |||
Revenue | |||
Revenue Recognition | |||
Energy Sales The energy sales revenue is recognized when the electrical power generated by the Company’s power plants is delivered to the customer who is reasonably assured to be able to pay under the terms defined by the Power Purchase Agreements (“PPAs”). | |||
Renewable Energy Credits (“RECs”) Currently, the Company operates three plants that produce renewable energy that creates a right to a REC. The Company earns one REC for each megawatt hour produced from the geothermal power plant. The Company considers the RECs to be an inventory item held for sale, and outputs that are an economic benefit obtained directly through the operation of the plants. The Company does not currently hold any RECs for our own use. Revenues from RECs sales are recognized when the Company has met the terms and conditions of certain energy sales agreements with a financially capable buyer. At Raft River Energy I LLC, each REC is certified by the Western Electric Coordinating Council and sold under a REC Purchase and Sales Agreement to Holy Cross Energy. At San Emidio and Neal Hot Springs, the RECs are owned by our customer and are bundled with energy sales. At all three plants, title for the RECs pass during the same month as energy sales. As a result, costs associated with the sale of RECs are not segregated on the statement of operations. | |||
Revenue Source | |||
All of the Company’s operating revenues (energy sales and energy credit sales) originate from energy production from its interests in geothermal power plants located in the states of Idaho, Oregon and Nevada. | |||
Asset Retirement Obligations | |||
The Company records the fair value of estimated asset retirement obligations (“AROs”) associated with tangible long-lived assets in the period incurred or acquired. AROs are legal obligations to settle under existing or enacted law, statue, or contract. The value of these obligations are originally based upon discounted cash flow estimates and are accreted to full value over time through charges to operations. Costs associated with future conditions are recognized as AROs in the period the condition occurs or is known to the Company. Generally, costs associated with AROs are earthwork, revegetation, well capping, and structure removal necessary to return the sites to their original conditions. | |||
Reclassification | |||
Certain amounts in the prior period financial statements have been reclassified to conform to the current period presentation. These reclassifications had no effect on reported income, total assets, or stockholders’ equity as previously reported. | |||
Recent Accounting Pronouncements | |||
Management has considered all recent accounting pronouncements. The following pronouncements were deemed applicable to our financial statements: | |||
Stock Compensation | |||
In June 2014, FASB issued Accounting Standards Update No. 2014-12 (“Update 2014-12”), Compensation-Stock Compensation, Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period (Topic 718). Update 2014-12 provides guidance on how to account for share-based payment awards that require a specific performance target to be achieved in order for the employees to become eligible to vest in the awards. Update 2014-12 is effective for annual periods and interim periods within those annual periods beginning after December 15, 2015. Management is still evaluating the applicability and possible impact this update may have on the accounting treatment and its financial statement presentation. | |||
Presentation of Property, Plant and Equipment | |||
In April 2014, FASB issued Accounting Standards Update No. 2014-08 (“Update 2014-08”), Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360), Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity. Update 2014-08 provides guidance to address the issues surrounding the reporting of discontinued operations and enhance the convergence of the FASB’s and the International Accounting Standard Board’s reporting requirements for discontinued operations. Update 2014-08 is effective for annual periods and interim periods within those annual periods beginning after December 15, 2015. Management is still evaluating the applicability and possible impact this update may have on the accounting treatment and its financial statement presentation. | |||
Business Combinations In December 2014, FASB issued Accounting Standards Update No. 2014-18 (“Update 2014-18”), Accounting for Identifiable Intangible Assets in Business Combination, Business Combinations (Topic 805). Update 2014-18 provides modifications to the evaluation of variable interest entities that may impact consolidation of reporting entities. Update 2014-18 is effective for fiscal year beginning after December 15, 2015, and the effective date of adoption depends on the timing of that first in-scope transaction. If the first in-scope transaction occurs in the first fiscal year beginning after December 12, 2015, the elective adoption will be effective for that fiscal year’s annual financial reporting and all interim and annual periods thereafter. The focus of this Update addresses the types of intangible assets that the Company, typically, has not acquired or does not seek to acquire; however, Management will continue to evaluate the possible impact that this Update may have on the accounting treatment of applicable elements and the financial presentation of these elements. | |||
Consolidation In February 2015, FASB issued Accounting Standards Update No. 2015-02 (“Update 2015-02”), Amendments to the Consolidation Analysis, Consolidation (Topic 810). Update 2015-02 provides modifications to the evaluation of variable interest entities that may impact consolidation of reporting entities. Update 2015-02 is effective for public business entities for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2015. The Company currently consolidates variable interest entities and may create or acquire variable interest entities for future endeavors. Management is still evaluating the possible impact this update may have on the financial presentation of the Company’s consolidated financial statements. |
RESTRICTED_CASH_AND_BOND_RESER
RESTRICTED CASH AND BOND RESERVES | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
RESTRICTED CASH AND BOND RESERVES [Text Block] | NOTE 3 – RESTRICTED CASH AND BOND RESERVES | |||||||
Under the terms of the loan agreements with the Department of Energy and Prudential Capital Group, various bond and cash reserves are required to provide assurances that the power plants will have the necessary funds to maintain expected operations and meet loan payment obligations. Restricted cash balances and bond reserves are summarized as follows: | ||||||||
Current restricted cash and bond reserves : | ||||||||
December 31, | ||||||||
Restricting Entities/Purpose | 2014 | 2013 | ||||||
Idaho Department of Water Resources, Geothermal Well Bond | $ | 260,000 | $ | 260,000 | ||||
Bureau of Land Management, Geothermal Lease Bond- Gerlach | 10,000 | 10,000 | ||||||
State of Nevada Division of Minerals, Statewide Drilling Bond | 50,000 | 50,000 | ||||||
Bureau of Land Management, Geothermal Lease Bonds- USG Nevada | 150,000 | 150,000 | ||||||
Oregon Department of Geology and Mineral Industries, Mineral Land and Reclamation Program | 400,000 | 400,000 | ||||||
Prudential Capital Group, Cash Reserves | 188,930 | 19,848 | ||||||
Bureau of Land Management , Geothermal Rights Lease Bond | 10,000 | - | ||||||
U.S. Department of Energy, Debt Service Reserve | 2,151,851 | 2,191,172 | ||||||
State of California Division of Oil, Gas and Geothermal Resources, Well Cash Bond | 100,000 | - | ||||||
$ | 3,320,781 | $ | 3,081,020 | |||||
Long-term restricted cash and bond reserves: | ||||||||
December 31, | ||||||||
Restricting Entities/Purpose | 2014 | 2013 | ||||||
Nevada Energy, PPA Security Bond | $ | 1,468,898 | $ | 1,468,898 | ||||
Prudential Capital Group, Debt Service Reserves | 1,594,605 | 1,594,437 | ||||||
Prudential Capital Group, Maintenance Reserves | 604,529 | 751,183 | ||||||
Prudential Capital Group, Well Reserves | 212,298 | 53,072 | ||||||
U.S. Department of Energy, Operations Reserves | 270,000 | 270,000 | ||||||
U.S. Department of Energy, Debt Service Reserves | 2,582,606 | 2,668,179 | ||||||
U.S. Department of Energy, Short Term Well Field Reserves | 4,505,150 | 4,501,191 | ||||||
U.S. Department of Energy, Long-Term Well Field Reserves | 4,761,927 | 4,507,391 | ||||||
U.S. Department of Energy, Capital Expenditure Reserves | 2,690,083 | 3,000,794 | ||||||
$ | 18,690,096 | $ | 18,815,145 | |||||
The well bonding requirements ensure that the Company has sufficient financial resources to construct, operate and maintain geothermal wells while safeguarding subsurface, surface and atmospheric resources from unreasonable degradation, and to protect ground water aquifers and surface water sources from contamination. Other future costs of environmental remediation cannot be reasonably estimated and have not been recorded. The debt service reserves are required to provide assurance that the Company will have sufficient funds to meet its debt payment obligations for the terms specified by the loan agreements. The maintenance and capital expenditure reserves are required by the lending entities to ensure that funds are available to acquire and maintain critical components of power plants and related supporting structures to enable the plants to operate according to expectations. Except for the PPA Security Bond, all of the restricted funds consisted of cash deposits or money market accounts held in commercial banks. Portions of the cash deposits are subject to FDIC insurance. See note 2 for details. The PPA Security Bond is held by the power purchaser. All of the reserve accounts were considered to be fully funded at December 31, 2014 and 2013. As described in note 16, the Geyser’s acquisition included a short term well bond of $100,000 and the Earth Power Resources Inc. acquisition included a short term geothermal lease rights bond of $10,000. |
INVESTMENT_IN_EQUITY_SECURITIE
INVESTMENT IN EQUITY SECURITIES | 12 Months Ended |
Dec. 31, 2014 | |
INVESTMENT IN EQUITY SECURITIES [Text Block] | NOTE 4 – INVESTMENT IN EQUITY SECURITIES |
During the quarter ended March 31, 2014, all of the Company’s holdings of equity securities ( 150,000 shares of Alterra Power Corp, a publicly traded renewable energy company) were sold for $41,528, which resulted in a realized loss of $27,967. The net change of $27,321 was reclassified from other comprehensive income to net income as a result of the sale. |
PROPERTY_PLANT_AND_EQUIPMENT
PROPERTY, PLANT AND EQUIPMENT | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
PROPERTY, PLANT AND EQUIPMENT [Text Block] | NOTE 5 - PROPERTY, PLANT AND EQUIPMENT | |||||||
During the year ended December, 2014, the Company continued development activities for San Emidio, Nevada and the Guatemala projects. Two new exploration wells for the San Emidio Phase II project were drilled, one exploration well drilled in 2013 was abandoned, and one other well drilled in 2013 was placed into production during the year for approximately $2.03 million. A portion of the drilling and development costs were offset by grant proceeds of $632,210. The new production well was connected to the existing Phase I power plant and is producing fluid to the plant as part of a long term test of the South Zone reservoir. During the year, costs that exceeded $924,000 were incurred at Guatemala for the construction of nine temperature gradient wells. | ||||||||
On December 12, 2014, the Company completed an acquisition of Earth Power Resources Inc. See Note 16 for details. After acquisition, the Company incurred approximately $133,000 on the drilling of a new production well. | ||||||||
Effective April 22, 2014, the Company acquired a group of companies (The Geysers, California) that included long-term assets that totaled $7.74 million (land of $1.6 million, well and drilling construction in progress of $6.14 million). See note 16 for acquisition details. After acquisition, the Company incurred development costs of approximately $259,000 for design and study work for a new power plant, transmission line and well field. | ||||||||
During the year ended December, 2013, the Company determined that the project located in the Republic of Guatemala was economically viable and began capitalizing drilling costs that amounted to over $1.7 million. At Neal Hot Springs, an agreement was reached with a major contractor that resulted in the reduction of project costs and related retainage of $2.26 million. Additional costs of approximately $7.8 million were incurred at the Neal Hot Springs power plant to finalize construction costs. The remaining balance of the ITC cash grant for San Emidio relating to previously disputed expenditures of approximately $1.05 million was collected. On February 15, 2013, the Company signed a settlement agreement with SAIC (the general contractor and construction loan holder) that reduced the construction liability including construction costs and accrued interest by approximately $2.14 million for the San Emidio, Nevada project. Costs that totaled approximately $817,000 were capitalized for a phase II monitoring well at San Emidio. | ||||||||
Property, plant and equipment, at cost, are summarized as follows: | ||||||||
December 31, | ||||||||
2014 | 2013 | |||||||
Land | $ | 3,211,010 | $ | 1,603,509 | ||||
Power production plant | 162,076,367 | 161,868,687 | ||||||
Grant proceeds for power plants | -52,965,236 | -52,965,236 | ||||||
Wells | 67,621,167 | 67,620,661 | ||||||
Grant proceeds for wells | -3,464,555 | -3,464,555 | ||||||
Furniture and equipment | 1,796,807 | 1,462,312 | ||||||
178,275,560 | 176,125,378 | |||||||
Less: accumulated depreciation | -27,068,836 | -20,895,943 | ||||||
151,206,724 | 155,229,435 | |||||||
Construction in progress | 15,652,722 | 6,354,503 | ||||||
$ | 166,859,446 | $ | 161,583,938 | |||||
Depreciation expense charged to plant operations and administrative costs for the years ended December 31, 2014 and 2013, was $6,186,132 and $6,393,581 ; respectively. | ||||||||
Changes in Construction in Progress are summarized as follows: | ||||||||
For the Year Ended December 31, | ||||||||
2014 | 2013 | |||||||
Beginning balances | $ | 6,354,503 | $ | 2,877,994 | ||||
Development/construction | 3,730,371 | 3,694,978 | ||||||
Grant reimbursements and rebates | -632,210 | -33,325 | ||||||
Acquisition (note 16) | 6,200,058 | - | ||||||
Transfers into production | - | -185,144 | ||||||
Ending balances | $ | 15,652,722 | $ | 6,354,503 | ||||
Construction in Progress, at cost, consisting of the following projects/assets by location are as follows: | ||||||||
December 31, | ||||||||
2014 | 2013 | |||||||
Raft River, Idaho: | ||||||||
Unit II, power plant, substation and transmission lines | $ | 750,493 | $ | 750,493 | ||||
Unit II, well construction | 2,127,547 | 2,121,502 | ||||||
2,878,040 | 2,871,995 | |||||||
San Emidio, Nevada: | ||||||||
Unit II, power plant, substation and transmission lines | 383,536 | 3,910 | ||||||
Unit II, well construction * | 3,133,873 | 1,753,299 | ||||||
3,517,409 | 1,757,209 | |||||||
Neal Hot Springs, Oregon: | ||||||||
Power plant and facilities | 6,477 | - | ||||||
The Geysers, California (note 16): | ||||||||
Power plant and facilities | 319,988 | - | ||||||
Well construction | 6,139,421 | - | ||||||
6,459,409 | - | |||||||
Crescent Valley, Nevada: | ||||||||
Well construction | 133,058 | - | ||||||
El Ceibillo, Republic of Guatemala: | ||||||||
Well Construction | 2,649,829 | 1,725,299 | ||||||
Plant and facilities | 8,500 | - | ||||||
2,658,329 | 1,725,299 | |||||||
$ | 15,652,722 | $ | 6,354,503 | |||||
*- Consists of four wells at December 31, 2014. The wells represent efforts to develop a well field to be utilized for Phase II. As of the date of these financial statements, the results of the wells are not sufficient to indicate the existence of a well field that would support another power plant. Two wells are being utilized to target a potential resource area. One well is currently being utilized/flow tested by the Phase I power plant. One well has been capped and abandoned. Management is still actively pursuing the Phase II project. If the project is abandoned, the cost of the wells that have no future economic value will be removed. |
INTANGIBLE_ASSETS
INTANGIBLE ASSETS | 12 Months Ended | ||||||
Dec. 31, 2014 | |||||||
INTANGIBLE ASSETS [Text Block] | NOTE 6 – INTANGIBLE ASSETS | ||||||
During the quarter ended June 30, 2014, the Company acquired a group of companies that included geothermal water rights located at The Geysers in Northern California that amounted to $278,872 (see note 16 for details). | |||||||
On December 12, 2014, the Company completed an acquisition of Earth Power Resources Inc. The acquisition included 26,017 acres of geothermal water rights in located in the Crescent Valley area in the State of Nevada valued at $451,608 on the acquisition date (see note 16 for details). | |||||||
During the year ended December 31, 2014, the Company abandoned the Granite Creek, Nevada area and released the geothermal water and mineral rights originally purchased for $451,299. | |||||||
Intangible assets, at cost, are summarized by project location as follows: | |||||||
December 31, | |||||||
2014 | 2013 | ||||||
In operation: | |||||||
Neal Hot Springs, Oregon: | |||||||
Geothermal water and mineral rights | $ | 625,337 | $ | 625,337 | |||
San Emidio, Nevada: | |||||||
Geothermal water and mineral rights | 4,825,220 | 4,825,220 | |||||
Less: accumulated amortization | -1,117,434 | -935,749 | |||||
4,333,123 | 4,514,808 | ||||||
Inactive: | |||||||
Raft River, Idaho: | |||||||
Surface water rights | 146,343 | 146,343 | |||||
Geothermal water and mineral rights | 1,251,540 | 1,251,540 | |||||
Granite Creek, Nevada: | |||||||
Geothermal water and mineral rights | - | 451,299 | |||||
Guatemala City, Guatemala: | |||||||
Geothermal water and mineral rights | 625,000 | 625,000 | |||||
Gerlach, Nevada: | |||||||
Geothermal water and mineral rights | 997,000 | 997,000 | |||||
Crescent Valley, Nevada: | |||||||
Geothermal water and mineral rights (note 16) | 451,608 | - | |||||
The Geysers, California: | |||||||
Geothermal water rights (note 16) | 278,872 | - | |||||
San Emidio, Nevada: | |||||||
Surface water rights | 4,323,520 | 4,323,520 | |||||
Geothermal water and mineral rights | 3,440,580 | 3,440,580 | |||||
Less: prior accumulated amortization | -430,072 | -430,072 | |||||
11,084,391 | 10,805,210 | ||||||
$ | 15,417,514 | $ | 15,320,018 | ||||
Amortization expense was charged to plant operations for the years ended December 31, 2014 and 2013 that amounted to $181,685 and $181,685 ; respectively. | |||||||
Estimated aggregate amortization expense for the next five years is as follows: | |||||||
Projected | |||||||
Amounts | |||||||
Years ending December 31, | |||||||
2015 | $ | 181,685 | |||||
2016 | 181,685 | ||||||
2017 | 181,685 | ||||||
2018 | 181,685 | ||||||
2019 | 181,685 | ||||||
$ | 908,425 |
INCOME_TAXES
INCOME TAXES | 12 Months Ended | |||||||||
Dec. 31, 2014 | ||||||||||
INCOME TAXES [Text Block] | NOTE 7 – INCOME TAXES | |||||||||
To produce the estimated income tax assets and liabilities, several estimates are required than include: current and future federal and State income tax rates, State apportionment factors, future earnings, the Company’s tax positions, financial elements/terms used for stock option valuation, and availability of tax credits and other benefits. Federal and State income tax law is constantly changing and is subject to inherent uncertainties due different interpretations and tax positions. Although Management believes that its estimates are reasonable, no assurance can be given that the final tax outcome of these matters will not be different than that which is reflected in our tax provisions. Ultimately, the actual tax benefits to be realized will be based upon future taxable earnings levels, which are very difficult to predict. | ||||||||||
Income taxes are recorded based upon the liability method. Under this approach, deferred income taxes are recorded to reflect the tax consequences in future years of differences between the tax basis of assets and liabilities and their financial reporting amounts at each year-end. | ||||||||||
At December 31, 2014, the Company had net deferred tax assets calculated at an expected rate, noted in the table below, of approximately $12,102,000 (December 31, 2013 - $10,435,000). As of December 31, 2013, the Company recognized the net deferred income tax asset to the extent of the impact on current book earnings. Effective December 31, 2014, Company management believes that historical, current and expected earnings are sufficient to meet the more likely than not standard to enable the Company to recognize the net deferred tax asset. As allowable under accounting standards, the Company elects to fully remove the valuation allowance as of December 31, 2014. | ||||||||||
The Company’s significant temporary timing differences that impact deferred income tax assets and liabilities are stock compensation and book to tax depreciation. The recognition of employee stock compensation has different rules that impact both the value and the timing of recognized compensation costs. Typically, employee stock compensation costs are higher and are recognized before compensation costs are allowable for income tax purposes. The book value of the deferred stock compensation asset, related to stock options, is reduced when the options are exercised, forfeited or expire. Differences in book to tax depreciation costs, generally, result in a deferred tax liability. Allowable depreciation expenses for income tax purposes utilize shorter asset lives and are calculated using accelerated methods (i.e., MACRS). Also, the Company has both earned and acquired NOLs available to offset current and future earnings. | ||||||||||
For financial reporting purposes the Company reports its operations as fully consolidated entity; however, for tax purposes the entities that have multiple ownership interests report their activities as separate entities. Some portions of the tax differences created by the structure of the reporting entities are limited to the consolidated Company as a whole. These differences, calculated with the estimated income tax rate are summarized as follows: | ||||||||||
31-Dec-14 | ||||||||||
Consolidated | Adjustments | Net Available | ||||||||
Deferred tax assets: | ||||||||||
Net operating loss carry forward | $ | 47,696,000 | $ | -17,096,000 | $ | 30,600,000 | ||||
Stock based compensation | 1,518,000 | - | 1,518,000 | |||||||
Deferred tax liabilities: | ||||||||||
Depreciation and amortization | -44,940,000 | 23,129,000 | -21,811,000 | |||||||
Net deferred tax asset | $ | 4,274,000 | $ | 6,033,000 | $ | 10,307,000 | ||||
The significant components of the net deferred tax asset calculated with the estimated effective income tax rate were as follows: | ||||||||||
December 31, | ||||||||||
2014 | 2013 | |||||||||
Current deferred tax assets: | ||||||||||
Net operating loss carry forward | $ | 1,730,000 | $ | - | ||||||
Stock based compensation | 73,000 | 28,000 | ||||||||
Long-term deferred tax assets: | ||||||||||
Net operating loss carry forward | 30,623,000 | 28,478,000 | ||||||||
Stock based compensation | 1,445,000 | 1,089,000 | ||||||||
Current liabilities: | ||||||||||
Depreciation and amortization | -1,397,000 | -4,331,000 | ||||||||
Long-term liabilities: | ||||||||||
Depreciation and amortization | -20,414,000 | -14,829,000 | ||||||||
Net deferred income tax asset | 12,060,000 | 10,435,000 | ||||||||
Deferred tax asset recognized and utilized in current period | -1,753,000 | -1,578,000 | ||||||||
Deferred tax asset valuation allowance | - | -8,857,000 | ||||||||
Net deferred tax asset | $ | 10,307,000 | $ | - | ||||||
The current portion of the deferred tax asset is based upon an estimate of the earnings for the year ended December 31, 2015. | ||||||||||
When calculating the effective tax rate, the federal income tax rate was used in addition to the applicable State income tax rates as deductible for federal income taxes. At year end, the Company held interests in the States of Idaho, Oregon, Nevada and California. The calculation of the average State income tax rate was based upon State apportionment factors that included operating revenues, payroll costs, and property costs. The Company, also, has interests in the Republic of Guatemala; however, the income tax effect of these interests were minimal for the years ended December 31, 2014 and 2013. | ||||||||||
The Company’s estimated effective income tax rate is as follows: | ||||||||||
For the Years Ended December 31, | ||||||||||
2014 | 2013 | |||||||||
U.S. Federal statutory rate | 34.00% | 34.00% | ||||||||
Average State and foreign income tax, net of federal tax effect | 3.7 | 4.2 | ||||||||
Production tax credits | - | - | ||||||||
Net effective tax rate | 37.70% | 38.20% | ||||||||
At December 31, 2014, the Company had net income tax operating loss carry forwards of approximately $81,166,000 ($74,550,000 in December 31, 2013), which expire in the years 2023 through 2034. Approximately $76,837,000 of the operating losses were generated by the Company; the residual were acquired. On April 22, 2014, the Company purchased a group of companies (see note 16 for details). Federal and applicable state net operating losses that totalled approximately $30 million were included in the acquisition. These NOLs are scheduled to expire in the years ending 2028 through 2033. The use of these net operating losses is restricted by the Company’s basis and the “applicable federal rate” as defined by Section 382 of federal tax law. The estimated available net operating losses from the acquired companies were approximately $4,329,000 at December 31, 2014. | ||||||||||
The net change in the deferred tax asset valuation allowance account is detailed as follows: | ||||||||||
For the Year Ended December 31, | ||||||||||
2014 | 2013 | |||||||||
Change in net operating loss | $ | 5,588,000 | $ | 16,258,000 | ||||||
Change in estimated effective tax rate | -45,000 | 614,000 | ||||||||
Net change in difference between book and tax stock compensation costs | 407,000 | 251,000 | ||||||||
Change in estimated deferred tax asset recognized and utilized in current period | -1,753,000 | -1,578,000 | ||||||||
Change in period book to income tax depreciation | -2,747,000 | -17,518,000 | ||||||||
Recognition of net operating loss | -10,307,000 | - | ||||||||
Net change in deferred tax valuation allowance | $ | -8,857,000 | $ | -1,973,000 | ||||||
At December 31, 2014, Raft River Energy I LLC has a book-to-tax difference of $38.7 million due to the acceleration of intangible drilling costs and depreciation. By contract, 99% percent of this book-to-tax difference has been allocated to the non-controlling interest and would not be available to the consolidated group to offset future tax liabilities. At December 31, 2014, USG Oregon LLC has a book-to-tax difference of $57.5 million due to the acceleration of depreciation. | ||||||||||
Accounting for Income Tax Uncertainties and Related Matters | ||||||||||
The Company may be assessed penalties and interest related to the underpayment of income taxes. Such assessments would be treated as a provision of income tax expense on the financial statements. For the years ended December 31, 2014 and 2013, and the nine months ended December 31, 2012, no income tax expense has been realized as a result of operations and no income tax penalties and interest have been accrued related to uncertain tax positions. The Company files income tax returns in the U.S. federal jurisdiction and in the States of Idaho, California and Oregon. These filings are subject to a three year statute of limitations. The Company’s evaluation of income tax positions included the year ended December 31, 2014 and 2013, and the nine months ended December 31, 2012. No filings are currently under examination. No adjustments due to tax uncertainties have been made to reduce the estimated income tax benefit at year end. Any valuations relating to these income tax provisions will comply with U.S. Generally Accepted Accounting Principles . |
CAPITAL_LEASE_OBLIGATIONS
CAPITAL LEASE OBLIGATIONS | 12 Months Ended |
Dec. 31, 2014 | |
CAPITAL LEASE OBLIGATIONS [Text Block] | NOTE 8 - CAPITAL LEASE OBLIGATIONS |
Effective May 10, 2012, the Company entered into two capital lease obligations for the purchase of a boom lift and a telehandler from Caterpillar Financial Services Corporation. The boom lift contract is payable in 36 monthly payments of $1,094 that began on June 11, 2012 and has an effective annual interest rate of 5.985% . The telehandler contract is payable in 36 monthly payments of $3,155 that began on June 11, 2012 and has an effective annual interest rate of 6.14% . Both contracts with Caterpillar Financial Services Corporation have bargain purchase options at the end of the contracts scheduled for May 2015. The scheduled future lease payments for the two contracts for the year ended December 31, 2015 total $21,249. At December 31, 2014, all of the lease obligations of $20,921 (less imputed interest of $328) were current. At December 31, 2014, the net book value of the equipment under capital lease amounted to $34,755 ($155,000, less $120,245 accumulated amortization). |
NOTES_PAYABLE
NOTES PAYABLE | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
NOTES PAYABLE [Text Block] | NOTE 9 – NOTES PAYABLE | ||||||||
U.S. Department of Energy | |||||||||
On August 31, 2011, USG Oregon LLC (“USG Oregon”), a subsidiary of the Company, completed the first funding drawdown associated with the U.S. Department of Energy (“DOE”) $96.8 million loan guarantee (“Loan Guarantee”) to construct its power plant at Neal Hot Springs in Eastern Oregon (the “Project”). The U.S. Treasury’s Federal Financing Bank, as lender for the Project, issues payments direct to vendors. All loan advances covered by the Loan Guarantee have been made under the Future Advance Promissory Note (the “Note”) dated February 23, 2011. Upon the occurrence and continuation of an event of default under the transaction documents, all amounts payable under the Note may be accelerated. In connection with the Loan Guarantee, the DOE has been granted a security interest in all of the equity interests of USG Oregon, as well as in the assets of USG Oregon, including a mortgage on real property interests relating to the Project site. The loan advances began August 31, 2011 and the last advance was taken on July 31, 2013. No additional advances are allowed under the terms of the loan. A total of 13 draws were taken and each individual draw or tranche is considered to be a separate loan. On August 12, 2013, proceeds of the ITC cash grant were distributed in accordance with the loan agreement, with $11,870,137 of the proceeds being used to prepay the Project loan, $11,167,473 of proceeds being used to fund a series of Project reserves, and balance of $9,711,930 being distributed as equity to the project owners. After the loan prepayment, the remaining final loan balance was $70,386,576. The loan principal is scheduled to be paid over 21.5 years with semi-annual installments including interest calculated at an aggregate fixed interest rate of 2.598% . The principal payment amounts are calculated on a straight-line basis according to the life of the loans and the original loan principal amounts. The principal portion of the aggregate loan payment is adjusted as individual tranches are extinguished. The principal payments are scheduled to start at $1,709,963 and are expected to be reduced to $1,626,251 on February 10, 2017. The loan balance at December 31, 2014 totaled $66,974,610 (estimated current portion $3,419,927). | |||||||||
Loan advances/tranches and effective annual interest rates are details as follows: | |||||||||
Annual Interest | |||||||||
Description | Amount | Rate % | |||||||
Advances by date: | |||||||||
August 31, 2011* | $ | 2,328,422 | 2.997 | ||||||
September 28, 2011 | 10,043,467 | 2.755 | |||||||
October 27, 2011 | 3,600,026 | 2.918 | |||||||
December 2, 2011 | 4,377,079 | 2.795 | |||||||
December 21, 2011 | 2,313,322 | 2.608 | |||||||
January 25, 2012 | 8,968,019 | 2.772 | |||||||
April 26, 2012 | 13,029,325 | 2.695 | |||||||
May 30, 2012 | 19,497,204 | 2.408 | |||||||
August 27, 2012 | 7,709,454 | 2.36 | |||||||
December 28, 2012 | 2,567,121 | 2.396 | |||||||
June 10, 2013 | 2,355,316 | 2.83 | |||||||
July 3, 2013* | 2,242,628 | 3.073 | |||||||
July 31, 2013* | 4,026,582 | 3.214 | |||||||
83,057,965 | |||||||||
Principal paid through December 31, 2014 | -16,083,355 | ||||||||
Loan balance at December 31, 2014 | $ | 66,974,610 | |||||||
* - Individual tranches have been fully extinguished. | |||||||||
SAIC Constructors LLC | |||||||||
Effective August 27, 2010, the Company’s wholly owned subsidiary (USG Nevada LLC) signed a construction loan agreement with SAIC Constructors LLC (“SAIC”). The new 10.0 net megawatt power plant was considered complete and operational for financial reporting purposes on September 1, 2012. On February 15, 2013, USG Nevada LLC signed a settlement agreement with SAIC that defined the terms of three separate debt components to settle the obligations incurred under the construction loan agreement. As of December 31, 2013, two components of the settlement agreement were paid in full. On April 30, 2013, SAIC signed a loan agreement with Nevada USG Holdings LLC (parent company of USG Nevada LLC and wholly owned subsidiary of the Company), that further defined the terms of the remaining debt component of $2 million. This remaining obligation will be repaid in quarterly installments of $119,382, including interest at 7.0% per annum that began on July 31, 2013 and is scheduled to be repaid by September 2018. The loan balance at December 31, 2014 totaled $1,487,266 (estimated current portion $390,051). | |||||||||
Prudential Capital Group | |||||||||
On September 26, 2013, the Company’s wholly owned subsidiary (USG Nevada LLC) entered into a note purchase agreement with the Prudential Capital Group’s related entities (“Prudential”) to finance the Phase I San Emidio geothermal project located in northwest Nevada. The term of the note is approximately 24 years, and bears interest at fixed rate of 6.75% per annum. Interest payments are due quarterly. Principal payments are due quarterly based upon minimum debt service coverage ratios established according to projected operating results made at the loan origination date and available cash balances. All amounts owing under the notes and the note purchase agreement or any related financing document are secured by USG Nevada LLC’s right, title and interest in and to its real and personal property, including the San Emidio project and the equity interests in USG Nevada LLC. At December 31, 2014, the balance of the loan was $30,182,333 (estimated current portion $471,091). | |||||||||
Auto Loans | |||||||||
On August 21, 2014, the Company’s wholly owned subsidiaries (U.S. Geothermal Services, LLC, USG Nevada LLC and Raft River Energy I, Inc.) purchased three trucks with down payments that totaled $47,000 and three separate loan agreements with Chrysler Capital. The loans require total monthly payments of $1,257, including interest at an average rate of 7.9% per annum until September 2020. The notes are secured by the vehicles. At December 31, 2014, the loan balances totaled $68,412 (estimated current portion $9,919). | |||||||||
Based upon the terms of the notes payable and expected conditions that may impact some of those terms, the total estimated annual principal payments were calculated as follows: | |||||||||
For the Year Ended | Principal | ||||||||
December 31, | Payments | ||||||||
2015 | $ | 4,336,271 | |||||||
2016 | 4,422,738 | ||||||||
2017 | 4,344,834 | ||||||||
2018 | 4,093,067 | ||||||||
2019 | 3,962,127 | ||||||||
Thereafter | 77,553,585 | ||||||||
$ | 98,712,622 |
CAPITAL_STOCK
CAPITAL STOCK | 12 Months Ended |
Dec. 31, 2014 | |
CAPITAL STOCK [Text Block] | NOTE 10 - CAPITAL STOCK |
The Company is authorized to issue 250,000,000 shares of common stock. All shares have equal voting rights, are non-assessable and have one vote per share. Voting rights are not cumulative and, therefore, the holders of more than 50% of the common stock could, if they choose to do so, elect all of the directors of the Company. | |
On December 12, 2014, the Company issued 692,769 shares of common stock to the shareholders of acquired company (Earth Power Resources Inc. – “EPR”). Under the terms of the Acquisition agreement, 50% of the issued shares will be held in reserve by the Company to cover potential undisclosed liabilities against EPR. The remaining non-reserved shares will be delivered to EPR shareholders upon surrender of their EPR share certificates. Trading of the non-reserve shares will be restricted for six months under SEC Rule 144. See note 16 for acquisition details. | |
On September 3, 2014, the Company issued 2,459,460 shares of common stock to an investor exercising stock purchase warrants at a price of $0.50 per share. | |
On April 2, 2014, the Company issued 559,122 shares of common stock (restricted shares) at a price of $0.74 per share to employees. The shares vest on April 2, 2015 and will be priced (currently $0.46 a share) at the date of vesting. | |
During the quarter ended June 30, 2014, the Company issued 352,500 shares of common stock as a result of employees and former employees exercising stock options priced at $0.31 per share. | |
During the quarter ended March 31, 2014, the Company issued 724,500 shares of common stock as a result of employees and former employees exercising stock options priced between $0.31 and $0.46 per share. | |
On March 14, 2014, the Company issued 135,136 shares of common stock to an investor exercising stock purchase warrants at a price of $0.50 per share. | |
During the year ended December 31, 2013, the Company issued 577,778 shares of common stock ( 300,000 restricted shares) to an employee of the Company at prices between $0.35 and $0.36 per share under the terms of an employment agreement. |
STOCK_BASED_COMPENSATION
STOCK BASED COMPENSATION | 12 Months Ended | ||||||||||||||
Dec. 31, 2014 | |||||||||||||||
STOCK BASED COMPENSATION [Text Block] | NOTE 11 - STOCK BASED COMPENSATION | ||||||||||||||
The Company has a stock incentive plan (the “Stock Incentive Plan”) for the purpose of attracting and motivating directors, officers, employees and consultants of the Company and advancing the interests of the Company. The Stock Incentive Plan is a 15% rolling plan approved by shareholders in September 2013, whereby the Company can grant options to the extent of 15% of the current outstanding common shares. Under the plan, all forfeited and exercised options can be replaced with new offerings. As of December 31, 2014, the Company can issue stock option grants totaling up to 16,052,704 shares. Options are typically granted for a term of up to five years from the date of grant. Stock options granted generally vest over a period of eighteen months, with 25% vesting on the date of grant and 25% vesting every six months thereafter. The Company recognizes compensation expense using the straight-line method of amortization. Historically, the Company has issued new shares to satisfy exercises of stock options and the Company expects to issue new shares to satisfy any future exercises of stock options. At December 31, 2014, the Company had 11,808,500 options granted and outstanding. | |||||||||||||||
During the quarter ended December 31, 2014, 40,000 stock options exercisable at the price of $0.74 issued to an employee were forfeited due to termination of employment. | |||||||||||||||
On September 23, 2014, 68,000 stock options exercisable at a price of $1.58 expired without exercise. | |||||||||||||||
During the quarter ended September 30, 2014, 50,000 stock options exercisable at the price of $0.83 issued to a contractor were forfeited due to the termination of their contract. | |||||||||||||||
On April 2, 2014, the Company awarded 2,883,500 stock options at an exercise price of $0.74 expiring on April 2, 2019 to its employees and directors. | |||||||||||||||
During the quarter ended June 30, 2014, 352,500 stock options exercisable at the price of $0.31 were exercised by employees and former employees. | |||||||||||||||
On May 26, 2014, 1,698,250 stock options exercisable at a price of $0.92 expired without exercise. | |||||||||||||||
During the quarter ended March 31, 2014, 724,500 stock options exercisable at prices between $0.31 and $0.46 were exercised by employees and former employees. | |||||||||||||||
On February 22, 2014, 30,000 stock options exercisable at a price of $0.46 issued to employees were forfeited due to the termination of employment. | |||||||||||||||
On September 25, 2013, 95,000 stock options exercisable at a price of $1.78 expired without exercise. | |||||||||||||||
On September 1, 2013, the Company granted 15,000 stock options to an employee exercisable at a price of $0.41 until September 1, 2018. | |||||||||||||||
On July 22, 2013, the Company granted 1,950,000 stock options to employees exercisable at a price of $0.46 until July 22, 2018. | |||||||||||||||
On May 26, 2013, 6,375 stock options exercisable at a price of $0.92 were forfeited due to employee termination. | |||||||||||||||
On May 19, 2013, 1,465,000 stock options exercisable at a price of $2.22 expired without exercise. | |||||||||||||||
On April 19, 2013, the Company granted 1,250,000 stock options to employees exercisable at a price of $0.35 until April 19, 2023. | |||||||||||||||
The following table reflects the summary of stock options outstanding at December 31, 2012 and changes for the years ended December 31, 2013 and 2014: | |||||||||||||||
Weighted | |||||||||||||||
Average | Weighted | ||||||||||||||
Number of | Exercise | Average | Aggregate | ||||||||||||
shares under | Price Per | Fair | Intrinsic | ||||||||||||
options | Share | Value | Value | ||||||||||||
Balance outstanding, December 31, 2012 | 10,239,625 | $ | 0.91 | $ | 0.55 | $ | 5,606,309 | ||||||||
Forfeited/Expired | -1,566,375 | 2.18 | 1.2 | -1,872,094 | |||||||||||
Exercised | - | - | - | - | |||||||||||
Granted | 3,215,000 | 0.42 | 0.25 | 808,500 | |||||||||||
Balance outstanding, December 31, 2013 | 11,888,250 | 0.61 | 0.38 | 4,542,715 | |||||||||||
Forfeited/Expired | -1,886,250 | 0.53 | 0.26 | -1,251,738 | |||||||||||
Exercised | -1,077,000 | 0.32 | 0.16 | -171,134 | |||||||||||
Granted | 2,883,500 | 0.74 | 0.4 | 1,153,400 | |||||||||||
Balance outstanding, December 31, 2014 | 11,808,500 | $ | 0.62 | $ | 0.36 | $ | 4,273,243 | ||||||||
The fair value of each option award is estimated on the date of grant using the Black-Scholes option-pricing model using the assumptions noted in the following table. Expected volatilities are based on historical volatility of the Company’s stock. The Company uses historical data to estimate option volatility within the Black-Scholes model. The expected term of options granted represents the period of time that options granted are expected to be outstanding, based upon past experience and future estimates and includes data from the Plan. The risk-free rate for periods within the expected term of the option is based upon the U.S. Treasury yield curve in effect at the time of grant. The Company currently does not foresee the payment of dividends in the near term. | |||||||||||||||
The fair value of the stock options granted was estimated using the Black-Scholes option-pricing model and is amortized over the vesting period of the underlying options. The assumptions used to calculate the fair value are as follows: | |||||||||||||||
For the Year Ended December 31, | |||||||||||||||
2014 | 2013 | ||||||||||||||
Dividend yield | 0 | 0 | |||||||||||||
Expected volatility | 81 - 100% | 71 - 81% | |||||||||||||
Risk free interest rate | 0.69 - 0.82% | 0.27 - 0.82% | |||||||||||||
Expected life (years) | 2.94 | 4.63 | |||||||||||||
Changes in the subjective input assumptions can materially affect the fair value estimate and, therefore, the existing models do not necessarily provide a reliable measure of the fair value of the Company’s stock options. | |||||||||||||||
The following table summarizes information about the stock options outstanding at December 31, 2014: | |||||||||||||||
OPTIONS OUTSTANDING | |||||||||||||||
REMAINING | NUMBER OF | ||||||||||||||
EXERCISE | NUMBER OF | CONTRACTUAL | OPTIONS | ||||||||||||
PRICE | OPTIONS | LIFE (YEARS) | EXERCISABLE | INTRINSIC VALUE | |||||||||||
$ | 0.86 | 1,300,000 | 0.7 | 1,300,000 | $ | 752,207 | |||||||||
0.83 | 2,540,000 | 1.43 | 2,540,000 | 1,244,600 | |||||||||||
0.6 | 100,000 | 1.7 | 100,000 | 36,072 | |||||||||||
0.31 | 1,865,000 | 2.65 | 1,865,000 | 290,128 | |||||||||||
0.46 | 1,895,000 | 3.56 | 1,421,250 | 345,222 | |||||||||||
0.41 | 15,000 | 3.67 | 11,250 | 2,259 | |||||||||||
0.35 | 1,250,000 | 8.3 | 1,250,000 | 338,000 | |||||||||||
0.74 | 2,843,500 | 4.25 | 1,421,750 | 574,464 | |||||||||||
$ | 0.62 | 11,808,500 | 3.52 | 9,909,250 | $ | 3,582,952 | |||||||||
The following table summarizes information about the stock options outstanding at December 31, 2013: | |||||||||||||||
OPTIONS OUTSTANDING | |||||||||||||||
REMAINING | NUMBER OF | ||||||||||||||
EXERCISE | NUMBER OF | CONTRACTUAL | OPTIONS | ||||||||||||
PRICE | OPTIONS | LIFE (YEARS) | EXERCISABLE | INTRINSIC VALUE | |||||||||||
$ | 0.92 | 1,698,250 | 0.4 | 1,698,250 | $ | 1,200,208 | |||||||||
1.58 | 68,000 | 0.73 | 68,000 | 26,435 | |||||||||||
0.86 | 1,300,000 | 1.7 | 1,300,000 | 752,207 | |||||||||||
0.83 | 2,590,000 | 2.43 | 2,590,000 | 1,269,100 | |||||||||||
0.6 | 100,000 | 2.7 | 100,000 | 36,072 | |||||||||||
0.31 | 2,917,000 | 3.65 | 2,187,750 | 340,332 | |||||||||||
0.46 | 1,950,000 | 4.56 | 487,500 | 118,414 | |||||||||||
0.41 | 15,000 | 4.67 | 3,750 | 753 | |||||||||||
0.35 | 1,250,000 | 9.3 | 625,000 | 169,000 | |||||||||||
$ | 0.61 | 11,888,250 | 3.43 | 9,060,250 | $ | 3,912,521 | |||||||||
A summary of the status of the Company’s nonvested stock options outstanding at December 31, 2012 and changes during the years ended December 31, 2013 and 2014 are presented as follows: | |||||||||||||||
Weighted | Weighted | ||||||||||||||
Average Grant | Average | ||||||||||||||
Number of | Date Fair Value | Grant Date | |||||||||||||
Options | Per Share | Fair Value | |||||||||||||
Nonvested, December 31, 2012 | 2,212,750 | $ | 0.31 | $ | 0.16 | ||||||||||
Granted | 3,215,000 | 0.42 | 0.25 | ||||||||||||
Vested | -2,599,750 | 0.35 | 0.23 | ||||||||||||
Forfeited/Expired | - | - | - | ||||||||||||
Nonvested, December 31, 2013 | 2,828,000 | 0.39 | 0.23 | ||||||||||||
Granted | 2,132,625 | 0.74 | 0.4 | ||||||||||||
Vested | -3,031,375 | 0.38 | 0.19 | ||||||||||||
Forfeited/Expired | -30,000 | 0.46 | 0.24 | ||||||||||||
Nonvested, December 31, 2014 | 1,899,250 | $ | 0.65 | $ | 0.36 | ||||||||||
As of December 31, 2014, there was $433,322 of total unrecognized compensation cost related to nonvested share-based compensation arrangements granted under the Plan. That cost is expected to be recognized over a weighted-average period of 1.5 years. The total fair value of options vested at December 31, 2014 and December 31, 2013 was $1,115,391 and $683,143, respectively. | |||||||||||||||
Stock Compensation Plan (Restricted Shares ) | |||||||||||||||
On April 19, 2013, the Company granted an officer and director 300,000 common shares valued at $0.35 per share, which were distributed at the end of a one-year vesting period. The recipient meets the vesting requirements by maintaining employment and good standing with the Company through the vesting period. After vesting, there are no restrictions on the shares. These shares were issued in July 2013 to the recipient and held by the Company until vested. The total fair value of options at the grant date was $105,000 and the recognized cost through December 31, 2014 was $31,208. | |||||||||||||||
On April 2, 2014, the Company issued 559,122 shares of Company stock at a price of $0.46 that fully vest on April 2, 2015 to its employees and directors. The total estimated fair value is $257,196 and the recognized cost through December 31, 2014 was $192,897. | |||||||||||||||
Stock Purchase Warrants | |||||||||||||||
At December 31, 2014, the outstanding broker warrants and share purchase warrants consisted of the following: | |||||||||||||||
Broker | |||||||||||||||
Warrant | Share | Warrant | |||||||||||||
Broker | Exercise | Purchase | Exercise | ||||||||||||
Expiration Date | Warrants | Price | Warrants | Price | |||||||||||
16-Sep-15 | 246,285 | $ | 1.25 | 4,104,757 | $ | 1.25 | |||||||||
23-May-17 | 255,721 | 0.44 | - | - | |||||||||||
21-Dec-17 | - | - | 3,310,812 | 0.5 | |||||||||||
On September 3, 2014, share purchase warrants that totaled 2,459,460 were exercised by an investor at the warrant exercise price of $0.50. | |||||||||||||||
On March 14, 2014, 135,136 share purchase warrants were exercised by an investor at the warrant exercise price of $0.50. | |||||||||||||||
On February 2013, 500,000 stock purchase warrants at an exercise price of $5.00 expired without exercise. |
FAIR_VALUE_MEASUREMENT
FAIR VALUE MEASUREMENT | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
FAIR VALUE MEASUREMENT [Text Block] | NOTE 12 – FAIR VALUE MEASUREMENT | ||||||||||||
Current U.S. generally accepted accounting principles establishes a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurement) and the lowest priority to unobservable inputs (Level 3 measurement). | |||||||||||||
The three levels of the fair value hierarchy are as follows: | |||||||||||||
Level 1 – Quoted prices are available in active markets for identical assets or liabilities. Active markets are those in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis. | |||||||||||||
Level 2 – Pricing inputs are other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date. Level 2 includes those financial instruments that are valued using models or other valuation methodologies. These models are primarily industry-standard models that consider various assumptions, including quoted forward prices for commodities, time value, volatility factors, and current market and contractual prices for the underlying instruments, as well as other relevant economic measures. Substantially all of these assumptions are observable in the marketplace throughout the full term of the instrument, can be derived from observable data or are supported by observable levels at which transactions are executed in the marketplace. | |||||||||||||
Level 3 – Pricing inputs include significant inputs that are generally unobservable from objective sources. These inputs may be used with internally developed methodologies that result in management’s best estimate of fair value. Level 3 instruments include those that may be more structured or otherwise tailored to the Company’s needs. | |||||||||||||
Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement requires judgment, and may affect the valuation of fair value assets and liabilities and their placement within the fair value hierarchy levels. | |||||||||||||
The following table discloses by level within the fair value hierarchy the Company’s assets and liabilities measured and reported on its Consolidated Balance Sheet as of December 31, 2014 at fair value on a recurring basis: | |||||||||||||
Total | Level 1 | Level 2 | Level 3 | ||||||||||
Assets: | |||||||||||||
Money market accounts * | $ | 30,515,067 | $ | 30,515,067 | $ | - | $ | - | |||||
* - Money market accounts include both restricted and unrestricted funds. | |||||||||||||
As allowed by current financial reporting standards, the Company has elected not to implement fair value recognition and reporting for all non-financial assets and non-financial liabilities, except for those that are recognized or disclosed at fair value in the financial statements on a recurring basis, that is, at least annually. |
RELATED_PARTY_TRANSACTIONS
RELATED PARTY TRANSACTIONS | 12 Months Ended |
Dec. 31, 2014 | |
RELATED PARTY TRANSACTIONS [Text Block] | NOTE 13 - RELATED PARTY TRANSACTIONS |
At December 31, 2014 and 2013 the amounts of $5,195 and $3,089 ; respectively, were payable to the officers of the Company for routine expense reimbursement. These amounts are unsecured and due on demand. | |
The Company paid directors’ fees for the years ended December 31, 2014 and 2013 totalled $115,300 and $99,000 ; respectively. |
COMMITMENTS_AND_CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 12 Months Ended | ||||
Dec. 31, 2014 | |||||
COMMITMENTS AND CONTINGENCIES [Text Block] | NOTE 14 - COMMITMENTS AND CONTINGENCIES | ||||
Operating Lease Agreements | |||||
The Company has entered into several lease agreements with terms expiring up to December 1, 2034 for geothermal properties in Neal Hot Springs, Oregon; Washoe County, Nevada; Eureka County, Nevada; The Geysers, California; Raft River, Idaho and the Republic of Guatemala. The Company incurred total lease expenses for the years ended December 31, 2014 and 2013, of $579,815 and $286,923 ; respectively. The Company believes that it is in compliance with all of the following lease terms. | |||||
BLM Lease Agreements | |||||
Idaho | |||||
On August 1, 2007, the Company signed a geothermal resources lease agreement with the United States Department of the Interior Bureau of Land Management (“BLM”). The contract requires an annual payment of $3,502 including processing fees. The primary term of the agreement is 10 years. After the primary term, the Company has the right to extend the contract. BLM has the right to terminate the contract upon written notice if the Company does not comply with the terms of the agreement. | |||||
San Emidio | |||||
The lease contracts are for approximately 21,905 acres of land and geothermal rights located in the San Emidio Desert, Nevada. The lease contracts have primary terms of 10 years. Per federal regulations applicable for the contracts, the lessee has the option to extend the primary lease term another 40 years if the BLM does not need the land for any other purpose and the lessee is maintaining production at commercial quantities. The leases require the lessee to conduct operations in a manner that minimizes adverse impacts to the environment. | |||||
Gerlach | |||||
The Gerlach Geothermal LLC assets are comprised of two BLM geothermal leases and one private lease totaling 3,615 acres. Both BLM leases have a royalty rate which is based upon 10% of the value of the resource at the wellhead. The amounts are calculated according to a formula established by Minerals Management Service (“MMS”). One of the two BLM leases has a second royalty commitment to a third party of 4% of gross revenue for power generation and 5% for direct use based on BTUs consumed at a set comparable price of $7.00 per million BTU of natural gas. The private lease has a 10 year primary term and would receive a royalty of 3% gross revenue for the first 10 years and 4% thereafter. | |||||
Granite Creek | |||||
The Company has three geothermal lease contracts with the BLM for the Granite Creek properties. The lease contracts are for approximately 2,443.7 acres of land and geothermal water rights located in North Western Nevada. The lease contracts have primary terms of 10 years. Per federal regulations applicable for the contracts, the lessee has the option to extend the primary lease term another 40 years if the BLM does not need the land for any other purpose and the lessee is maintaining production at commercial quantities. The leases state annual lease payments of $2,444, not including processing fees, and expire October 2017. During the quarter ended December 31, 2014, management terminated the Granite Creek project and will relinquish its lease contracts and the accompanying rights to the area. The carrying value of the contracts of $451,299 has been eliminated from the financial statements. | |||||
Raft River Energy I LLC | |||||
The Company has entered into several lease contracts for approximately 1,298 acres of land and geothermal water rights located in the Raft River area located in Southern Idaho. The contracts have stated terms that range from 5 to 30 years with expiration dates that range from May 2015 to December 2034. The annual contracted lease payments are scheduled to total $44,450 for the year ended December 31, 2015. | |||||
Other Lease Agreements | |||||
Neal Hot Springs, Oregon | |||||
The Company holds 3 lease contracts for approximately 7,429 acres of geothermal water rights located in the Neal Hot Springs area near Vale, Oregon. The contracts have stated terms of 10 years with expiration dates that range from May 2015 to November 2019. The two major contracts are royalty based. One of the agreements defines a royalty rate based upon 3% of the gross proceeds for the first 5 years of commercial production, 4% of gross proceeds for the next 10 years, and 5% of the gross proceeds thereafter. The second agreement defines a royalty rate based upon 2% of the actual revenue for the first 10 years of commercial production and 3% thereafter. As of January 2013, USG Oregon LLC began paying monthly royalties under both royalty based contracts based on electricity delivery under the Idaho Power Purchase Agreement. | |||||
The Geysers, California | |||||
On April 22, 2014, the Company acquired companies that held five significant lease contracts for approximately 3,809 acres ( 6.0 square miles) of land and geothermal water rights in The Geysers area located in Northern California. The contracts have stated expiration dates, expiring from February 2017 to October 2019. The remaining contracts renew indefinitely with payments made within contracted terms (held by payment). The annual contracted lease payments are scheduled to total $274,000 for the year ended December 31, 2015. | |||||
Crescent Valley, Nevada | |||||
On December 12, 2014, the Company acquired Earth Power Resources Inc. that holds 63 lease contracts for approximately 26,017 acres located in the central area of the State of Nevada. The contracts have stated terms of 10 to 40 years with expiration dates that range from February 2015 to June 2054. The annual contracted lease payments are scheduled to total $70,898 for the year ended December 31, 2015. | |||||
Office Lease | |||||
Park Center Boulevard | |||||
On August 12, 2013, the Company signed a 5 year lease agreement for office space and janitorial services. The lease payments are due in monthly installments starting February 1, 2014. The monthly payments that began February 1, 2014 have two components which include a base rate of $3,234 that is not subject to increase and a rate beginning at $6,418 that is adjusted annually according to the cost of living index. The contract includes a 5 year extension option. For the year ended December 31, 2014, the office lease costs totaled $115,830. | |||||
Tyrell Lane | |||||
Under the contract, the lease payments were due in monthly installments of $6,535. The contract ended January 31, 2014. The total office lease costs incurred under the contract and the prior contract for year ended December 31, 2013 totaled $78,423. | |||||
Contracted Lease Obligation Schedule | |||||
The following is the total contracted lease operating obligations (operating leases, BLM lease agreements and office leases) for the next five years: | |||||
Year Ending | |||||
December 31, | Amount | ||||
2015 | $ | 899,579 | |||
2016 | 930,463 | ||||
2017 | 900,124 | ||||
2018 | 865,753 | ||||
2019 | 742,547 | ||||
Thereafter | 13,273,471 | ||||
Power Purchase Agreements | |||||
Raft River Energy I LLC | |||||
The Company signed a power purchase agreement with Idaho Power Company for the sale of power generated from its joint venture Raft River Energy I LLC. The Company also signed a transmission agreement with Bonneville Power Administration for transmission of electricity from this plant to Idaho Power. These agreements will govern the operational revenues for the initial phases of the Company’s operating activities. The contract allows power sales up to 13 megawatts annual average. The price of energy sold under the Idaho Power PPA is split into three seasons: power produced during the peak periods of July, August, November and December will be purchased at 120% of the set price; power produced in the three month low demand season (March, April, May) will be purchased at 73.50% of the set price; and power produced in the remaining five months of the year will be purchased at 100% of the set price. The PPA sets a first year average purchase price of $53.60 per megawatt hour. The $53.60 purchase price is escalated each year at a compound annual rate of 2.1% until year 15. From years 16 to 25 of the contract the escalation rate will drop to 0.6% per year. | |||||
USG Nevada LLC | |||||
As a part of the purchase of the assets from Empire Geothermal Power, LLC and Michael B. Stewart acquisition (“Empire Acquisition”), a power purchase agreement with Sierra Pacific Power Company was assigned to the Company. The contract had a stated expected output of 3,250 kilowatts maximum per hour and extended through 2017. During the year ended March 31, 2012, the power purchase agreement was replaced by a new amended and restated 25 year contract signed in December of 2011 that sets the new rate at $89.75 per megawatt hour with a 1% annual escalation rate. The new contract currently allows for a maximum of 73,444 megawatt hours annually that will be paid for at the full contract price. Upon declaration of commercial operation under the PPA, an Operating Security Deposit is required to be maintained at NV Energy for the full term of the PPA. As of December 31, 2014, the Company has funded a security deposit of $1,468,898. | |||||
USG Oregon LLC | |||||
In December of 2009, the Company’s subsidiary (USG Oregon LLC), signed a power purchase agreement with Idaho Power Company for the sale of power generated by the Neal Hot Springs, Oregon project. The agreement has a term of 25 years and provides for the purchase of power up to 25 megawatts (22 megawatt planned annual average output level). Beginning 2012, the flat energy price is $96.00 per megawatt hour. The price escalates annually by 3.9% in the initial years and by 1.0% during the latter years of the agreement. The approximate 25 -year levelized price is $117.65 per megawatt hour. | |||||
Asset Retirement Obligations (“AROs”) | |||||
The Geysers, California | |||||
On April 22, 2014, the Company completed the acquisition of a group of companies owned by Ram Power Corp.’s (“Ram”) Geysers Project located in Northern California. Two of the acquired companies (Western GeoPower, Inc. and Etoile Holdings, Inc.) contained asset retirement obligations that, primarily, originate with the environmental regulations defined by the laws of the State of California. The liabilities related to the removal and disposal of arsenic impacted soil and existing steam conveyance pipelines are estimated to total $800,000. Obligations related to decommissioning four existing wells were estimated to total $600,000. These obligations are based upon the expected future value of the remedy or settlement and the values have not been calculated at discounted rates. At December 31, 2014, the Company has not considered it necessary to specifically fund these obligations. Since management is still evaluating the development plan for this project that could eliminate or significantly reduce these obligations, no charges directly associated the asset retirement obligations have been charged to operations. All of the obligations are considered to be long-term at December 31, 2014. | |||||
Raft River Energy I LLC, USG Nevada LLC, and USG Oregon LLC | |||||
These Companies operate in Idaho, Nevada and Oregon and are subject to environmental laws and regulations of these states. The plants, wells, pipelines and transmission lines are expected to have long useful lives. Generally, these assets will require funds for retirement or reclamation. However, these estimated obligations are believed to be less than or not significantly more than the assets’ estimated salvage values. Therefore, as of December 31, 2014, no retirement obligations have been recognized. | |||||
401(k) Plan | |||||
The Company offers a defined contribution plan qualified under section 401(k) of the Internal Revenue Code to all its eligible employees. All employees are eligible at the beginning of the quarter after completing 3 months of service. Subsequent to June 30, 2013, the Company began matching 50% of the employee’s contribution up to 6%. Prior to June 30, 2013, the plan required the Company to match 25% of the employee’s contribution up to 6%. Employees may contribute up to the maximum allowed by the Internal Revenue Code. The Company made matching contributions to the plan that totaled $97,785 and $60,425 for the years ended December 31, 2014 and 2013, respectively. |
JOINT_VENTURESNONCONTROLLING_I
JOINT VENTURES/NON-CONTROLLING INTEREST | 12 Months Ended | ||||||
Dec. 31, 2014 | |||||||
JOINT VENTURES/NON-CONTROLLING INTEREST [Text Block] | NOTE 15 – JOINT VENTURES/NON-CONTROLLING INTERESTS | ||||||
Non-controlling interests included on the consolidated balance sheets of the Company are detailed as follows: | |||||||
December 31, | |||||||
2014 | 2013 | ||||||
Gerlach Geothermal LLC interest held by Gerlach Green Energy, LLC | $ | 230,539 | $ | 404,352 | |||
Oregon USG Holdings LLC interest held by Enbridge Inc. | 24,818,443 | 35,926,826 | |||||
Raft River Energy I LLC interest held by Raft River I Holdings, LLC | 21,348,110 | 21,824,302 | |||||
$ | 46,397,092 | $ | 58,155,480 | ||||
Gerlach Geothermal LLC | |||||||
On April 28, 2008, the Company formed Gerlach Geothermal, LLC (“Gerlach”) with our partner, Gerlach Green Energy, LLC (“GGE”). The purpose of the joint venture is the exploration of the Gerlach geothermal system, which is located in northwestern Nevada, near the town of Gerlach. Based upon the terms of the members’ agreement, the Company owns a 60% interest and GGE owns a 40% interest in Gerlach Geothermal, LLC. The agreement gives GGE an option to maintain its 40% ownership interest as additional capital contributions are required. If GGE dilutes to below a 10% interest, their ownership position in the joint venture would be converted to a 10% net profits interest. The Company has contributed $757,190 in cash and $300,000 for a geothermal lease and mineral rights; and the GGE has contributed $704,460 of geothermal lease, mineral rights and exploration data. During the first three quarters of the current year, contributions were made to Gerlach by the Company and GGE that totaled $11,040 and $7,360 ; respectively. These contributions maintained the existing ownership interests of the two partners in Gerlach. During the fourth quarter of the current year, the Company contributed $400,000 for the project’s drilling costs that were not proportionally matched by GGE. These contributions effectively reduced GGE’s ownership interest to 32.65%, and increased the Company’s interest to 67.35% as of December 31, 2014. | |||||||
The consolidated financial statements reflect 100% of the assets and liabilities of Gerlach, and report the current non-controlling interest of GGE. The full results of Gerlach’s operations are reflected in the statement of operations with the elimination of the non-controlling interest identified. | |||||||
Oregon USG Holdings LLC | |||||||
In September 2010, the Company’s subsidiary, Oregon USG Holdings LLC (“Oregon Holdings”), signed an Operating Agreement with Enbridge Inc. (“Enbridge”) for the right to participate in the Company’s Neal Hot Springs project located in Malheur County, Oregon. On February 20, 2014, a new determination under the existing agreement was reached with Enbridge that established their ownership interest percentage at 40% and the Company’s at 60%, effective January 1, 2013. Oregon Holdings has a 100% ownership interest in USG Oregon LLC. Enbridge has contributed a total of $32,801,000, including the debt conversion, to Oregon Holdings in exchange for a direct ownership interest. During the year ended December 31, 2014, distributions were made to the Company and Enbridge that totaled $12,388,606 and $15,024,334 ; respectively. | |||||||
The consolidated financial statements reflect 100% of the assets and liabilities of Oregon Holdings and USG Oregon LLC, and report the current non-controlling interest of Enbridge. The full results of Oregon Holdings and USG Oregon LLC’s operations are reflected in the statement of operations with the elimination of the non-controlling interest identified. | |||||||
Raft River Energy I LLC (“RREI”) | |||||||
Raft River Energy I is a joint venture between the Company and Raft River I Holdings, LLC a subsidiary of the Goldman Sachs Group, Inc. An Operating Agreement governs the rights and responsibilities of both parties. At fiscal year end, the Company had contributed approximately $17.9 million in cash and property, and RREI has contributed approximately $34.1 million in cash. Profits and losses are allocated to the members based upon contractual terms. For income tax purposes, Raft River I Holdings, LLC receives a greater proportion of the share of losses and other income tax benefits. This includes the allocation of production tax credits, which will be distributed 99% to Raft River I Holdings, LLC and 1% to the Company during the first 10 years of production. During the initial years of operations, Raft River I Holdings, LLC will receive a larger allocation of cash distributions. | |||||||
The consolidated financial statements reflect 100% of the assets and liabilities of RREI, and report the current non-controlling interest of Raft River I Holdings LLC. The full results of Raft River Energy I LLC’s operations are reflected in the statement of operations with the elimination of the non-controlling interest identified. | |||||||
Effective May 17, 2011, a repair services agreement (“RSA”) was executed between RREI and U.S. Geothermal Services, LLC for the purpose of funding repairs of two underperforming wells. The agreement defined terms of the RSA repair costs and RSA repair management fees that would be funded by the loan. The outstanding loan balance will accrue interest at 12.0% per annum. The RSA payments will be made preferentially from project cash flow at a rate of 90% of increased cash created by the repairs and cash availability on a quarterly basis. The repairs were completed in January 2012. Based upon the financial conditions applicable to the loan, RREI did not make any payments during the year ended December 31, 2012. As of December 31, 2012, the loan balance amounted to $2,136,150. During the years ended December 31, 2014 and 2013, RREI made principal payments on the loan of $1,003,833 and $755,288 ; respectively. The balance of the loan at December 31, 2014 and 2013 was $377,029 and $1,380,862 ; respectively. The loan balance and related interest effects are fully eliminated during the consolidation process. |
ACQUISITIONS
ACQUISITIONS | 12 Months Ended | ||||
Dec. 31, 2014 | |||||
ACQUISITIONS [Text Block] | NOTE 16 – ACQUISITIONS | ||||
Ram Power’s Geysers Project | |||||
On April 22, 2014, the Company acquired all of the ownership shares of a group of companies owned by Ram Power Corp.’s (“Ram”) that hold all interests in the Geysers Project located in Northern California for a total of $6.78 million ($6.4 million purchase price, plus $0.38 million in other acquisition costs). The acquisition included Ram’s subsidiaries: Western GeoPower, Inc., Skyline Geothermal Holdings, Inc., and Etoile Holdings, Inc. which includes all membership interests in Mayacamas Energy LLC and Skyline Geothermal LLC. The assets acquired included 4 production/injection wells, restricted cash, land and geothermal water rights. The Company assumed the on-going liabilities of the companies which included an asset retirement obligations with estimated value of $1.4 million. The Company will evaluate whether to construct a power plant or sell the steam to one of the existing power companies in the area. The total acquisition cost was allocated as follows: | |||||
Acquisition Costs | |||||
Assets: | |||||
Restricted cash, short term well bond | $ | 100,000 | |||
Land | 1,603,516 | ||||
Geothermal water rights | 278,872 | ||||
Construction in progress: | |||||
Wells and casing | 6,139,420 | ||||
Plant and facilities | 60,637 | ||||
8,182,445 | |||||
Liabilities: | |||||
Asset retirement obligations | -1,400,000 | ||||
Net acquisition cost | $ | 6,782,445 | |||
Earth Power Resources Inc. (“EPR”) | |||||
On October 16, 2014, the Company signed an Agreement and Plan of Merger with EPR. The transaction was approved by EPR shareholder approval on November 18, 2014. The Acquisition was completed on December 12, 2014. Under the terms of the Agreement, the EPR shareholders received a total of 692,769 shares of U.S. Geothermal Inc. common shares and $42,934 in cash in exchange for all outstanding shares of EPR stock. Under the terms of the Acquisition agreement, 50% of the issued shares will be held in reserve by the Company to cover potential undisclosed liabilities against EPR. The remaining non-reserved shares will be delivered to EPR shareholders upon surrender of their EPR share certificates. Trading of the non-reserve shares will be restricted for 6 months under SEC Rule 144. Acquired assets include geothermal leases covering 26,017 acres in the State of Nevada representing three potential projects. A loan of $100,000 was made from the Company to EPR to fund operating costs that were due prior to the acquisition. The loan accrues interest at a rate of 7.0% per annum and is due on December 11, 2019. | |||||
The total acquisition cost was allocated as follows: | |||||
Acquisition Costs | |||||
Assets: | |||||
Restricted cash, bond | $ | 10,000 | |||
Geothermal water rights | 451,608 | ||||
461,608 | |||||
Liability: | |||||
Note payable, intercompany | -100,000 | ||||
Net acquisition cost | $ | 361,608 |
SUBSEQUENT_EVENTS
SUBSEQUENT EVENTS | 12 Months Ended |
Dec. 31, 2014 | |
SUBSEQUENT EVENTS [Text Block] | NOTE 17 - SUBSEQUENT EVENTS |
The Company has evaluated events and transactions that have occurred after the balance sheet date through March 16, 2015, which is considered to be the issuance date. No events were identified for disclosure. |
Recovered_Sheet1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended | ||
Dec. 31, 2014 | |||
Accounting Method [Policy Text Block] | Accounting Method | ||
The Company’s consolidated financial statements are prepared using the accrual basis of accounting in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) and have been consistently applied in the preparation of the consolidated financial statements. | |||
Use of Estimates [Policy Text Block] | Use of Estimates | ||
The preparation of consolidated financial statements in accordance with generally accepted accounting principles requires the use of estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities known to exist as of the date the consolidated financial statements are published, and the reported amounts of revenues and expenses during the reporting period. Uncertainties with respect to such estimates and assumptions are inherent in the preparation of the Company’s consolidated financial statements; accordingly, it is possible that the actual results could differ from these estimates and assumptions and could have a material effect on the reported amounts of the Company’s consolidated financial position and consolidated results of operations. | |||
Cash and Cash Equivalents [Policy Text Block] | Cash and Cash Equivalents | ||
The Company considers all unrestricted cash, short-term deposits, and other investments with original maturities of no more than ninety days when acquired to be cash and cash equivalents for the purposes of the statement of cash flows. Under the Loan Guarantee Agreement at Neal Hot Springs with the Department of Energy, all funds for USG Oregon LLC are deposited into PNC Bank subject to certain procedural restrictions on the use of the funds. The waterfall of funds out of the Revenue account is processed semi-annually. At December 31, 2014, $3.8 million in USG Oregon LLC funds were deposited at PNC Bank in the Revenue account and $271,000 in Oregon USG Holdings LLC funds were deposited at Umpqua Bank, and were unavailable for immediate corporate needs. Discussion regarding restricted cash is included in Note 3. | |||
Accounts Receivable Allowance for Doubtful Accounts [Policy Text Block] | Accounts Receivable Allowance for Doubtful Accounts | ||
Trade Accounts Receivable Management estimates the amount of trade accounts receivable that may not be collectible and records an allowance for doubtful accounts. The allowance is an estimate based upon aging of receivable balances, historical collection experience, and the periodic credit evaluations of our customers’ financial condition. Receivable balances are written off when we determine that the balance is uncollectible. As of December 31, 2014 and 2013, there were no balances that were over 90 days past due and no balance in allowance for doubtful accounts was recognized. | |||
Grant Accounts Receivable For receivables from grants from Federal or State agencies, the Company records the receivable amounts net of the funds expected to be received. Therefore, no allowance accounts are considered to be necessary for receivables from grants at December 31, 2014 and 2013. | |||
Concentration of Credit Risk [Policy Text Block] | Concentration of Credit Risk | ||
The Company’s cash and cash equivalents, including restricted cash, consisted of commercial bank deposits, money market accounts, and petty cash. Cash deposits are held in commercial banks in Boise, Idaho and Portland, Oregon. Deposits are guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000 per legal entity. At December 31, 2014, the Company’s total cash balance, excluding money market funds, was $4,487,085, and bank deposits amounted to $4,577,004. The primary difference was due to outstanding checks and deposits. Of the bank deposits, $3,156,637 was not covered by or was in excess of FDIC insurance guaranteed limits. At December 31, 2014, the Company’s money market funds invested, primarily, in government backed securities totaled $30,515,067 and were not subject to deposit insurance. | |||
Equity Securities [Policy Text Block] | Equity Securities | ||
The Company determines the appropriate classification of marketable securities at the time of purchase and reevaluates this designation as of each balance sheet date. The Company classifies these securities as either held-to-maturity, trading, or available-for-sale. All marketable securities and restricted investments were classified as available-for-sale securities. The Company classifies its investments as “available for sale” because it does not intend to actively buy and sell for short-term profits. The Company's investments are subject to market risk, primarily interest rate and credit risk. The fair value of investments is determined using observable or quoted market prices for those securities. | |||
Available-for-sale securities are carried at fair value, with unrealized gains and losses included as a component of accumulated other comprehensive income (loss). Realized gains and losses, declines in value judged to be other than temporary and interest on available-for-sale securities are included in net income. The cost of securities sold is based on the specific identification method whereby the gain or loss is calculated based upon the cost of specifically identified securities for each sales transaction. | |||
Property, Plant and Equipment [Policy Text Block] | Property, Plant and Equipment | ||
Property, plant and equipment, including assets under capital lease, are recorded at historical cost. Costs of acquisition of geothermal properties are capitalized in the period of acquisition. Major improvements that significantly increase the useful lives and/or capabilities of the assets are capitalized. A primary factor in determining whether to capitalize construction type costs is the stage of the potential project’s development. Once a project is determined to be commercially viable, all costs directly associated with the development and construction of the project are capitalized. Until that time, all development costs are expensed. A commercially viable project will have, among other factors, a reservoir discovery well or other significant geothermal surface anomaly, a power transmission path that is identified and available, and an electricity off-taker identified. A valid reservoir discovery is generally defined when a test well has been substantially completed that indicates the presence of a geothermal reservoir that has a high probability of possessing the necessary temperatures, permeability, and flow rates. After a valid discovery has been made, the project enters the development stage. Generally, all costs incurred during the development stage are capitalized and tracked on an individual project basis. If a geothermal project is abandoned, the associated costs that have been capitalized are charged to expense in the year of abandonment. Expenditures for repairs and maintenance are charged to expense as incurred. Interest costs incurred during the construction period of defined major projects from debt that is specifically incurred for those projects are capitalized. Funds received from grants associated with capital projects reduce the cost of the asset directly associated with the individual grants. The offset of the cost of the asset associated with grant proceeds is recorded in the period when the requirements of the grant are substantially complete and the amount can be reasonably estimated. | |||
Direct labor costs, incurred for specific major projects expected to have long-term benefits will be capitalized. Direct labor costs subject to capitalization include employee salaries, as well as, related payroll taxes and benefits. With respect to the allocation of salaries to projects, salaries are allocated based on the percentage of hours that our key managers, engineers and scientists work on each project and are invoiced to the project each month. These individuals track their time worked at each project. Major projects are, generally, defined as projects expected to exceed $500,000. Direct labor includes all of the time incurred by employees directly involved with construction and development activities. General and/or indirect management time and time spent evaluating the feasibility of potential projects is expensed when incurred. Employee training time is expensed when incurred. | |||
Depreciation is calculated on a straight-line basis over the estimated useful life of the asset. Where appropriate, terms of property rights and revenue contracts can influence the determination of estimated useful lives. Estimated useful lives in years by major asset categories are summarized as follows: | |||
Estimated Useful | |||
Asset Categories | Lives in Years | ||
Furniture, vehicle and other equipment | 3 to 5 | ||
Power plant, buildings and improvements | 3 to 30 | ||
Wells | 30 | ||
Well pumps and components | 5 to 15 | ||
Pipelines | 30 | ||
Transmission lines | 30 | ||
Intangible Assets [Policy Text Block] | Intangible Assets | ||
All costs directly associated with the acquisition of geothermal and surface water rights are capitalized as intangible assets. These costs are amortized over their estimated utilization period. There are several factors that influence the estimated utilization periods as well as underlying fair value that include, but are not limited to, the following: | |||
- | contractual expiration terms of the right, | ||
- | contractual terms of an associated revenue contract (i.e., PPAs), | ||
- | compliance with utilization and other requirements, and | ||
- | hierarchy of other right holders who share the same resource. | ||
Currently, amortization expense is being calculated on a straight-line basis over an estimated utilization period of 30 years for assets placed in service. If an intangible water or geothermal right is forfeited or otherwise lost, the remaining unamortized costs are expensed in the period of forfeiture. An impaired right is reduced to its estimated fair market value in the year the impairment is realized. Costs incurred that extend the term of an intangible right are capitalized and amortized over the new estimated period of utilization. | |||
Impairment of Long-Lived Assets [Policy Text Block] | Impairment of Long-Lived Assets | ||
The Company evaluates its long-term assets annually for impairment and when circumstances/events occur that may impact the fair value of the assets. An impairment loss would be recognized if the carrying amount of a capitalized asset is not recoverable and exceeds its fair value. The most recent assessment was performed based upon financial conditions and assumptions as of December 31, 2014, and there have not been any significant changes in financial conditions and assumptions subsequent to that assessment date. Management believes that there have not been any circumstances that have warranted the recognition of losses due to the impairment of long-lived assets. | |||
Stock Options Granted to Employees and Non-employees [Policy Text Block] | Stock Options Granted to Employees and Non-employees | ||
The Company follows financial accounting standards that require the measurement of the value of employee services received in exchange for an award of an equity instrument based on the grant-date fair value of the award. For employees, directors and officers, the fair value of the awards are expensed over the vesting period. The current vesting period for all such options is eighteen months. | |||
Non-employee stock-based compensation is granted at the Board of Director’s discretion to reward select consultants for exceptional performance. Prior to issuance of the awards, the Company was not under any obligation to issue the stock options. Subsequent to the award, the recipient was not obligated to perform any services. Therefore, the fair value of these options was expensed on the grant date, which was also the measurement date. | |||
Under the fair value recognition provisions, share-based compensation cost is measured at the grant date based on the value of the award and is recognized as expense over the vesting period. Determining the fair value of share-based awards at the grant date requires judgment. In addition, judgment is also required in estimating the amount of share-based awards that are expected to be forfeited. If actual results differ significantly from these estimates, stock-based compensation expense and our results of operations could be materially impacted. | |||
Stock Based Compensation Granted to Employees [Policy Text Block] | Stock Based Compensation Granted to Employees | ||
The Company recognizes the value of common stock granted to employees and directors over the periods in which the services are received. The value of those services is based upon the estimated fair value of the common stock to be awarded. Estimated fair value is adjusted each reporting period. At the end of each vesting period, estimated fair value is adjusted to fair market value. The adjustment is reflected in the reporting period in which the vesting occurs. | |||
Earnings Per Share [Policy Text Block] | Earnings Per Share | ||
The Company follows financial accounting standards, which provides for calculation of "basic" and "diluted" earnings per share. Basic earnings per share includes no dilution and is computed by dividing net income available to common shareholders by the weighted average common shares outstanding for the period. Diluted earnings per share reflect the potential dilution of securities that could share in the earnings of an entity similar to fully diluted earnings per share. Both basic and diluted were presented for the calculation of the income per share for the periods that reported income. Stock equivalents were not included in the calculation for the periods that reported losses since their inclusion would be considered anti-dilutive. Total common stock equivalents on a fully diluted basis at December 31, 2014 and 2013 were 126,744,104 ( 126,006,172 annual weighted average) and 124,494,963 ( 123,497,883 annual weighted average); respectively. | |||
Financial Instruments [Policy Text Block] | Financial Instruments | ||
The Company’s financial instruments consist of cash and cash equivalents, trade account and other receivables, refundable tax credits, and accounts payable and accrued liabilities. Unless otherwise noted, it is management’s opinion that the Company is not exposed to significant interest, currency or credit risks arising from these financial instruments. The fair values of these financial instruments approximate their carrying values, unless otherwise noted. | |||
The Company’s functional currency is the U.S. dollar. Monetary items are converted into U.S. dollars at the rate prevailing at the balance sheet date. Resulting gains and losses are generally included in determining net income for the period in which exchange rates change. | |||
Revenue [Policy Text Block] | Revenue | ||
Revenue Recognition | |||
Energy Sales The energy sales revenue is recognized when the electrical power generated by the Company’s power plants is delivered to the customer who is reasonably assured to be able to pay under the terms defined by the Power Purchase Agreements (“PPAs”). | |||
Renewable Energy Credits (“RECs”) Currently, the Company operates three plants that produce renewable energy that creates a right to a REC. The Company earns one REC for each megawatt hour produced from the geothermal power plant. The Company considers the RECs to be an inventory item held for sale, and outputs that are an economic benefit obtained directly through the operation of the plants. The Company does not currently hold any RECs for our own use. Revenues from RECs sales are recognized when the Company has met the terms and conditions of certain energy sales agreements with a financially capable buyer. At Raft River Energy I LLC, each REC is certified by the Western Electric Coordinating Council and sold under a REC Purchase and Sales Agreement to Holy Cross Energy. At San Emidio and Neal Hot Springs, the RECs are owned by our customer and are bundled with energy sales. At all three plants, title for the RECs pass during the same month as energy sales. As a result, costs associated with the sale of RECs are not segregated on the statement of operations. | |||
Revenue Source | |||
All of the Company’s operating revenues (energy sales and energy credit sales) originate from energy production from its interests in geothermal power plants located in the states of Idaho, Oregon and Nevada. | |||
Asset Retirement Obligations [Policy Text Block] | Asset Retirement Obligations | ||
The Company records the fair value of estimated asset retirement obligations (“AROs”) associated with tangible long-lived assets in the period incurred or acquired. AROs are legal obligations to settle under existing or enacted law, statue, or contract. The value of these obligations are originally based upon discounted cash flow estimates and are accreted to full value over time through charges to operations. Costs associated with future conditions are recognized as AROs in the period the condition occurs or is known to the Company. Generally, costs associated with AROs are earthwork, revegetation, well capping, and structure removal necessary to return the sites to their original conditions. | |||
Reclassification [Policy Text Block] | Reclassification | ||
Certain amounts in the prior period financial statements have been reclassified to conform to the current period presentation. These reclassifications had no effect on reported income, total assets, or stockholders’ equity as previously reported. | |||
Recent Accounting Pronouncements [Policy Text Block] | Recent Accounting Pronouncements | ||
Management has considered all recent accounting pronouncements. The following pronouncements were deemed applicable to our financial statements: | |||
Stock Compensation | |||
In June 2014, FASB issued Accounting Standards Update No. 2014-12 (“Update 2014-12”), Compensation-Stock Compensation, Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period (Topic 718). Update 2014-12 provides guidance on how to account for share-based payment awards that require a specific performance target to be achieved in order for the employees to become eligible to vest in the awards. Update 2014-12 is effective for annual periods and interim periods within those annual periods beginning after December 15, 2015. Management is still evaluating the applicability and possible impact this update may have on the accounting treatment and its financial statement presentation. | |||
Presentation of Property, Plant and Equipment | |||
In April 2014, FASB issued Accounting Standards Update No. 2014-08 (“Update 2014-08”), Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360), Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity. Update 2014-08 provides guidance to address the issues surrounding the reporting of discontinued operations and enhance the convergence of the FASB’s and the International Accounting Standard Board’s reporting requirements for discontinued operations. Update 2014-08 is effective for annual periods and interim periods within those annual periods beginning after December 15, 2015. Management is still evaluating the applicability and possible impact this update may have on the accounting treatment and its financial statement presentation. | |||
Business Combinations In December 2014, FASB issued Accounting Standards Update No. 2014-18 (“Update 2014-18”), Accounting for Identifiable Intangible Assets in Business Combination, Business Combinations (Topic 805). Update 2014-18 provides modifications to the evaluation of variable interest entities that may impact consolidation of reporting entities. Update 2014-18 is effective for fiscal year beginning after December 15, 2015, and the effective date of adoption depends on the timing of that first in-scope transaction. If the first in-scope transaction occurs in the first fiscal year beginning after December 12, 2015, the elective adoption will be effective for that fiscal year’s annual financial reporting and all interim and annual periods thereafter. The focus of this Update addresses the types of intangible assets that the Company, typically, has not acquired or does not seek to acquire; however, Management will continue to evaluate the possible impact that this Update may have on the accounting treatment of applicable elements and the financial presentation of these elements. | |||
Consolidation In February 2015, FASB issued Accounting Standards Update No. 2015-02 (“Update 2015-02”), Amendments to the Consolidation Analysis, Consolidation (Topic 810). Update 2015-02 provides modifications to the evaluation of variable interest entities that may impact consolidation of reporting entities. Update 2015-02 is effective for public business entities for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2015. The Company currently consolidates variable interest entities and may create or acquire variable interest entities for future endeavors. Management is still evaluating the possible impact this update may have on the financial presentation of the Company’s consolidated financial statements. |
SUMMARY_OF_SIGNIFICANT_ACCOUNT1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended | ||
Dec. 31, 2014 | |||
Schedule of Property, Plant and Equipment, Estimated Useful Lives [Table Text Block] | Estimated Useful | ||
Asset Categories | Lives in Years | ||
Furniture, vehicle and other equipment | 3 to 5 | ||
Power plant, buildings and improvements | 3 to 30 | ||
Wells | 30 | ||
Well pumps and components | 5 to 15 | ||
Pipelines | 30 | ||
Transmission lines | 30 |
RESTRICTED_CASH_AND_BOND_RESER1
RESTRICTED CASH AND BOND RESERVES (Tables) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Schedule of Current restricted cash and bond reserves [Table Text Block] | December 31, | |||||||
Restricting Entities/Purpose | 2014 | 2013 | ||||||
Idaho Department of Water Resources, Geothermal Well Bond | $ | 260,000 | $ | 260,000 | ||||
Bureau of Land Management, Geothermal Lease Bond- Gerlach | 10,000 | 10,000 | ||||||
State of Nevada Division of Minerals, Statewide Drilling Bond | 50,000 | 50,000 | ||||||
Bureau of Land Management, Geothermal Lease Bonds- USG Nevada | 150,000 | 150,000 | ||||||
Oregon Department of Geology and Mineral Industries, Mineral Land and Reclamation Program | 400,000 | 400,000 | ||||||
Prudential Capital Group, Cash Reserves | 188,930 | 19,848 | ||||||
Bureau of Land Management , Geothermal Rights Lease Bond | 10,000 | - | ||||||
U.S. Department of Energy, Debt Service Reserve | 2,151,851 | 2,191,172 | ||||||
State of California Division of Oil, Gas and Geothermal Resources, Well Cash Bond | 100,000 | - | ||||||
$ | 3,320,781 | $ | 3,081,020 | |||||
Schedule of Long-term restricted cash and bond reserves [Table Text Block] | December 31, | |||||||
Restricting Entities/Purpose | 2014 | 2013 | ||||||
Nevada Energy, PPA Security Bond | $ | 1,468,898 | $ | 1,468,898 | ||||
Prudential Capital Group, Debt Service Reserves | 1,594,605 | 1,594,437 | ||||||
Prudential Capital Group, Maintenance Reserves | 604,529 | 751,183 | ||||||
Prudential Capital Group, Well Reserves | 212,298 | 53,072 | ||||||
U.S. Department of Energy, Operations Reserves | 270,000 | 270,000 | ||||||
U.S. Department of Energy, Debt Service Reserves | 2,582,606 | 2,668,179 | ||||||
U.S. Department of Energy, Short Term Well Field Reserves | 4,505,150 | 4,501,191 | ||||||
U.S. Department of Energy, Long-Term Well Field Reserves | 4,761,927 | 4,507,391 | ||||||
U.S. Department of Energy, Capital Expenditure Reserves | 2,690,083 | 3,000,794 | ||||||
$ | 18,690,096 | $ | 18,815,145 |
PROPERTY_PLANT_AND_EQUIPMENT_T
PROPERTY, PLANT AND EQUIPMENT (Tables) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Schedule of Property, Plant and Equipment [Table Text Block] | December 31, | |||||||
2014 | 2013 | |||||||
Land | $ | 3,211,010 | $ | 1,603,509 | ||||
Power production plant | 162,076,367 | 161,868,687 | ||||||
Grant proceeds for power plants | -52,965,236 | -52,965,236 | ||||||
Wells | 67,621,167 | 67,620,661 | ||||||
Grant proceeds for wells | -3,464,555 | -3,464,555 | ||||||
Furniture and equipment | 1,796,807 | 1,462,312 | ||||||
178,275,560 | 176,125,378 | |||||||
Less: accumulated depreciation | -27,068,836 | -20,895,943 | ||||||
151,206,724 | 155,229,435 | |||||||
Construction in progress | 15,652,722 | 6,354,503 | ||||||
$ | 166,859,446 | $ | 161,583,938 | |||||
Schedule of Changes in Construction in Progress [Table Text Block] | For the Year Ended December 31, | |||||||
2014 | 2013 | |||||||
Beginning balances | $ | 6,354,503 | $ | 2,877,994 | ||||
Development/construction | 3,730,371 | 3,694,978 | ||||||
Grant reimbursements and rebates | -632,210 | -33,325 | ||||||
Acquisition (note 16) | 6,200,058 | - | ||||||
Transfers into production | - | -185,144 | ||||||
Ending balances | $ | 15,652,722 | $ | 6,354,503 | ||||
Schedule of Changes in Construction in Progress, by Project [Table Text Block] | December 31, | |||||||
2014 | 2013 | |||||||
Raft River, Idaho: | ||||||||
Unit II, power plant, substation and transmission lines | $ | 750,493 | $ | 750,493 | ||||
Unit II, well construction | 2,127,547 | 2,121,502 | ||||||
2,878,040 | 2,871,995 | |||||||
San Emidio, Nevada: | ||||||||
Unit II, power plant, substation and transmission lines | 383,536 | 3,910 | ||||||
Unit II, well construction * | 3,133,873 | 1,753,299 | ||||||
3,517,409 | 1,757,209 | |||||||
Neal Hot Springs, Oregon: | ||||||||
Power plant and facilities | 6,477 | - | ||||||
The Geysers, California (note 16): | ||||||||
Power plant and facilities | 319,988 | - | ||||||
Well construction | 6,139,421 | - | ||||||
6,459,409 | - | |||||||
Crescent Valley, Nevada: | ||||||||
Well construction | 133,058 | - | ||||||
El Ceibillo, Republic of Guatemala: | ||||||||
Well Construction | 2,649,829 | 1,725,299 | ||||||
Plant and facilities | 8,500 | - | ||||||
2,658,329 | 1,725,299 | |||||||
$ | 15,652,722 | $ | 6,354,503 |
INTANGIBLE_ASSETS_Tables
INTANGIBLE ASSETS (Tables) | 12 Months Ended | ||||||
Dec. 31, 2014 | |||||||
Schedule of Intangible Assets and Goodwill [Table Text Block] | December 31, | ||||||
2014 | 2013 | ||||||
In operation: | |||||||
Neal Hot Springs, Oregon: | |||||||
Geothermal water and mineral rights | $ | 625,337 | $ | 625,337 | |||
San Emidio, Nevada: | |||||||
Geothermal water and mineral rights | 4,825,220 | 4,825,220 | |||||
Less: accumulated amortization | -1,117,434 | -935,749 | |||||
4,333,123 | 4,514,808 | ||||||
Inactive: | |||||||
Raft River, Idaho: | |||||||
Surface water rights | 146,343 | 146,343 | |||||
Geothermal water and mineral rights | 1,251,540 | 1,251,540 | |||||
Granite Creek, Nevada: | |||||||
Geothermal water and mineral rights | - | 451,299 | |||||
Guatemala City, Guatemala: | |||||||
Geothermal water and mineral rights | 625,000 | 625,000 | |||||
Gerlach, Nevada: | |||||||
Geothermal water and mineral rights | 997,000 | 997,000 | |||||
Crescent Valley, Nevada: | |||||||
Geothermal water and mineral rights (note 16) | 451,608 | - | |||||
The Geysers, California: | |||||||
Geothermal water rights (note 16) | 278,872 | - | |||||
San Emidio, Nevada: | |||||||
Surface water rights | 4,323,520 | 4,323,520 | |||||
Geothermal water and mineral rights | 3,440,580 | 3,440,580 | |||||
Less: prior accumulated amortization | -430,072 | -430,072 | |||||
11,084,391 | 10,805,210 | ||||||
$ | 15,417,514 | $ | 15,320,018 | ||||
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Projected | ||||||
Amounts | |||||||
Years ending December 31, | |||||||
2015 | $ | 181,685 | |||||
2016 | 181,685 | ||||||
2017 | 181,685 | ||||||
2018 | 181,685 | ||||||
2019 | 181,685 | ||||||
$ | 908,425 |
INCOME_TAXES_Tables
INCOME TAXES (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2014 | ||||||||||
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | 31-Dec-14 | |||||||||
Consolidated | Adjustments | Net Available | ||||||||
Deferred tax assets: | ||||||||||
Net operating loss carry forward | $ | 47,696,000 | $ | -17,096,000 | $ | 30,600,000 | ||||
Stock based compensation | 1,518,000 | - | 1,518,000 | |||||||
Deferred tax liabilities: | ||||||||||
Depreciation and amortization | -44,940,000 | 23,129,000 | -21,811,000 | |||||||
Net deferred tax asset | $ | 4,274,000 | $ | 6,033,000 | $ | 10,307,000 | ||||
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | December 31, | |||||||||
2014 | 2013 | |||||||||
Current deferred tax assets: | ||||||||||
Net operating loss carry forward | $ | 1,730,000 | $ | - | ||||||
Stock based compensation | 73,000 | 28,000 | ||||||||
Long-term deferred tax assets: | ||||||||||
Net operating loss carry forward | 30,623,000 | 28,478,000 | ||||||||
Stock based compensation | 1,445,000 | 1,089,000 | ||||||||
Current liabilities: | ||||||||||
Depreciation and amortization | -1,397,000 | -4,331,000 | ||||||||
Long-term liabilities: | ||||||||||
Depreciation and amortization | -20,414,000 | -14,829,000 | ||||||||
Net deferred income tax asset | 12,060,000 | 10,435,000 | ||||||||
Deferred tax asset recognized and utilized in current period | -1,753,000 | -1,578,000 | ||||||||
Deferred tax asset valuation allowance | - | -8,857,000 | ||||||||
Net deferred tax asset | $ | 10,307,000 | $ | - | ||||||
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | For the Years Ended December 31, | |||||||||
2014 | 2013 | |||||||||
U.S. Federal statutory rate | 34.00% | 34.00% | ||||||||
Average State and foreign income tax, net of federal tax effect | 3.7 | 4.2 | ||||||||
Production tax credits | - | - | ||||||||
Net effective tax rate | 37.70% | 38.20% | ||||||||
Summary of Valuation Allowance [Table Text Block] | For the Year Ended December 31, | |||||||||
2014 | 2013 | |||||||||
Change in net operating loss | $ | 5,588,000 | $ | 16,258,000 | ||||||
Change in estimated effective tax rate | -45,000 | 614,000 | ||||||||
Net change in difference between book and tax stock compensation costs | 407,000 | 251,000 | ||||||||
Change in estimated deferred tax asset recognized and utilized in current period | -1,753,000 | -1,578,000 | ||||||||
Change in period book to income tax depreciation | -2,747,000 | -17,518,000 | ||||||||
Recognition of net operating loss | -10,307,000 | - | ||||||||
Net change in deferred tax valuation allowance | $ | -8,857,000 | $ | -1,973,000 |
NOTES_PAYABLE_Tables
NOTES PAYABLE (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Investments and Advances to Affiliates [Table Text Block] | Annual Interest | ||||||||
Description | Amount | Rate % | |||||||
Advances by date: | |||||||||
August 31, 2011* | $ | 2,328,422 | 2.997 | ||||||
September 28, 2011 | 10,043,467 | 2.755 | |||||||
October 27, 2011 | 3,600,026 | 2.918 | |||||||
December 2, 2011 | 4,377,079 | 2.795 | |||||||
December 21, 2011 | 2,313,322 | 2.608 | |||||||
January 25, 2012 | 8,968,019 | 2.772 | |||||||
April 26, 2012 | 13,029,325 | 2.695 | |||||||
May 30, 2012 | 19,497,204 | 2.408 | |||||||
August 27, 2012 | 7,709,454 | 2.36 | |||||||
December 28, 2012 | 2,567,121 | 2.396 | |||||||
June 10, 2013 | 2,355,316 | 2.83 | |||||||
July 3, 2013* | 2,242,628 | 3.073 | |||||||
July 31, 2013* | 4,026,582 | 3.214 | |||||||
83,057,965 | |||||||||
Principal paid through December 31, 2014 | -16,083,355 | ||||||||
Loan balance at December 31, 2014 | $ | 66,974,610 | |||||||
Schedule of Annual Principal Payments Construction in Progress [Table Text Block] | For the Year Ended | Principal | |||||||
December 31, | Payments | ||||||||
2015 | $ | 4,336,271 | |||||||
2016 | 4,422,738 | ||||||||
2017 | 4,344,834 | ||||||||
2018 | 4,093,067 | ||||||||
2019 | 3,962,127 | ||||||||
Thereafter | 77,553,585 | ||||||||
$ | 98,712,622 |
STOCK_BASED_COMPENSATION_Table
STOCK BASED COMPENSATION (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||
Dec. 31, 2014 | Dec. 31, 2013 | |||||||||||||||||||||||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | Weighted | |||||||||||||||||||||||||||||
Average | Weighted | |||||||||||||||||||||||||||||
Number of | Exercise | Average | Aggregate | |||||||||||||||||||||||||||
shares under | Price Per | Fair | Intrinsic | |||||||||||||||||||||||||||
options | Share | Value | Value | |||||||||||||||||||||||||||
Balance outstanding, December 31, 2012 | 10,239,625 | $ | 0.91 | $ | 0.55 | $ | 5,606,309 | |||||||||||||||||||||||
Forfeited/Expired | -1,566,375 | 2.18 | 1.2 | -1,872,094 | ||||||||||||||||||||||||||
Exercised | - | - | - | - | ||||||||||||||||||||||||||
Granted | 3,215,000 | 0.42 | 0.25 | 808,500 | ||||||||||||||||||||||||||
Balance outstanding, December 31, 2013 | 11,888,250 | 0.61 | 0.38 | 4,542,715 | ||||||||||||||||||||||||||
Forfeited/Expired | -1,886,250 | 0.53 | 0.26 | -1,251,738 | ||||||||||||||||||||||||||
Exercised | -1,077,000 | 0.32 | 0.16 | -171,134 | ||||||||||||||||||||||||||
Granted | 2,883,500 | 0.74 | 0.4 | 1,153,400 | ||||||||||||||||||||||||||
Balance outstanding, December 31, 2014 | 11,808,500 | $ | 0.62 | $ | 0.36 | $ | 4,273,243 | |||||||||||||||||||||||
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | For the Year Ended December 31, | |||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||
Dividend yield | 0 | 0 | ||||||||||||||||||||||||||||
Expected volatility | 81 - 100% | 71 - 81% | ||||||||||||||||||||||||||||
Risk free interest rate | 0.69 - 0.82% | 0.27 - 0.82% | ||||||||||||||||||||||||||||
Expected life (years) | 2.94 | 4.63 | ||||||||||||||||||||||||||||
Schedule of Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block] | OPTIONS OUTSTANDING | OPTIONS OUTSTANDING | ||||||||||||||||||||||||||||
REMAINING | NUMBER OF | REMAINING | NUMBER OF | |||||||||||||||||||||||||||
EXERCISE | NUMBER OF | CONTRACTUAL | OPTIONS | EXERCISE | NUMBER OF | CONTRACTUAL | OPTIONS | |||||||||||||||||||||||
PRICE | OPTIONS | LIFE (YEARS) | EXERCISABLE | INTRINSIC VALUE | PRICE | OPTIONS | LIFE (YEARS) | EXERCISABLE | INTRINSIC VALUE | |||||||||||||||||||||
$ | 0.86 | 1,300,000 | 0.7 | 1,300,000 | $ | 752,207 | $ | 0.92 | 1,698,250 | 0.4 | 1,698,250 | $ | 1,200,208 | |||||||||||||||||
0.83 | 2,540,000 | 1.43 | 2,540,000 | 1,244,600 | 1.58 | 68,000 | 0.73 | 68,000 | 26,435 | |||||||||||||||||||||
0.6 | 100,000 | 1.7 | 100,000 | 36,072 | 0.86 | 1,300,000 | 1.7 | 1,300,000 | 752,207 | |||||||||||||||||||||
0.31 | 1,865,000 | 2.65 | 1,865,000 | 290,128 | 0.83 | 2,590,000 | 2.43 | 2,590,000 | 1,269,100 | |||||||||||||||||||||
0.46 | 1,895,000 | 3.56 | 1,421,250 | 345,222 | 0.6 | 100,000 | 2.7 | 100,000 | 36,072 | |||||||||||||||||||||
0.41 | 15,000 | 3.67 | 11,250 | 2,259 | 0.31 | 2,917,000 | 3.65 | 2,187,750 | 340,332 | |||||||||||||||||||||
0.35 | 1,250,000 | 8.3 | 1,250,000 | 338,000 | 0.46 | 1,950,000 | 4.56 | 487,500 | 118,414 | |||||||||||||||||||||
0.74 | 2,843,500 | 4.25 | 1,421,750 | 574,464 | 0.41 | 15,000 | 4.67 | 3,750 | 753 | |||||||||||||||||||||
$ | 0.62 | 11,808,500 | 3.52 | 9,909,250 | $ | 3,582,952 | 0.35 | 1,250,000 | 9.3 | 625,000 | 169,000 | |||||||||||||||||||
$ | 0.61 | 11,888,250 | 3.43 | 9,060,250 | $ | 3,912,521 | ||||||||||||||||||||||||
Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding [Table Text Block] | Weighted | Weighted | ||||||||||||||||||||||||||||
Average Grant | Average | |||||||||||||||||||||||||||||
Number of | Date Fair Value | Grant Date | ||||||||||||||||||||||||||||
Options | Per Share | Fair Value | ||||||||||||||||||||||||||||
Nonvested, December 31, 2012 | 2,212,750 | $ | 0.31 | $ | 0.16 | |||||||||||||||||||||||||
Granted | 3,215,000 | 0.42 | 0.25 | |||||||||||||||||||||||||||
Vested | -2,599,750 | 0.35 | 0.23 | |||||||||||||||||||||||||||
Forfeited/Expired | - | - | - | |||||||||||||||||||||||||||
Nonvested, December 31, 2013 | 2,828,000 | 0.39 | 0.23 | |||||||||||||||||||||||||||
Granted | 2,132,625 | 0.74 | 0.4 | |||||||||||||||||||||||||||
Vested | -3,031,375 | 0.38 | 0.19 | |||||||||||||||||||||||||||
Forfeited/Expired | -30,000 | 0.46 | 0.24 | |||||||||||||||||||||||||||
Nonvested, December 31, 2014 | 1,899,250 | $ | 0.65 | $ | 0.36 | |||||||||||||||||||||||||
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | Broker | |||||||||||||||||||||||||||||
Warrant | Share | Warrant | ||||||||||||||||||||||||||||
Broker | Exercise | Purchase | Exercise | |||||||||||||||||||||||||||
Expiration Date | Warrants | Price | Warrants | Price | ||||||||||||||||||||||||||
16-Sep-15 | 246,285 | $ | 1.25 | 4,104,757 | $ | 1.25 | ||||||||||||||||||||||||
23-May-17 | 255,721 | 0.44 | - | - | ||||||||||||||||||||||||||
21-Dec-17 | - | - | 3,310,812 | 0.5 |
FAIR_VALUE_MEASUREMENT_Tables
FAIR VALUE MEASUREMENT (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Schedule of Fair Value, by Balance Sheet Grouping [Table Text Block] | Total | Level 1 | Level 2 | Level 3 | |||||||||
Assets: | |||||||||||||
Money market accounts * | $ | 30,515,067 | $ | 30,515,067 | $ | - | $ | - |
COMMITMENTS_AND_CONTINGENCIES_
COMMITMENTS AND CONTINGENCIES (Tables) | 12 Months Ended | ||||
Dec. 31, 2014 | |||||
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | Year Ending | ||||
December 31, | Amount | ||||
2015 | $ | 899,579 | |||
2016 | 930,463 | ||||
2017 | 900,124 | ||||
2018 | 865,753 | ||||
2019 | 742,547 | ||||
Thereafter | 13,273,471 |
JOINT_VENTURESNONCONTROLLING_I1
JOINT VENTURES/NON-CONTROLLING INTEREST (Tables) | 12 Months Ended | ||||||
Dec. 31, 2014 | |||||||
Schedule of Non-controlling Interests [Table Text Block] | December 31, | ||||||
2014 | 2013 | ||||||
Gerlach Geothermal LLC interest held by Gerlach Green Energy, LLC | $ | 230,539 | $ | 404,352 | |||
Oregon USG Holdings LLC interest held by Enbridge Inc. | 24,818,443 | 35,926,826 | |||||
Raft River Energy I LLC interest held by Raft River I Holdings, LLC | 21,348,110 | 21,824,302 | |||||
$ | 46,397,092 | $ | 58,155,480 |
ACQUISITIONS_Tables
ACQUISITIONS (Tables) | 12 Months Ended | ||||
Dec. 31, 2014 | |||||
Ram Powers Geysers Project [Member] | |||||
Business Combination, Segment Allocation [Table Text Block] | Acquisition Costs | ||||
Assets: | |||||
Restricted cash, short term well bond | $ | 100,000 | |||
Land | 1,603,516 | ||||
Geothermal water rights | 278,872 | ||||
Construction in progress: | |||||
Wells and casing | 6,139,420 | ||||
Plant and facilities | 60,637 | ||||
8,182,445 | |||||
Liabilities: | |||||
Asset retirement obligations | -1,400,000 | ||||
Net acquisition cost | $ | 6,782,445 | |||
Earth Power Resources Inc. [Member] | |||||
Business Combination, Segment Allocation [Table Text Block] | Acquisition Costs | ||||
Assets: | |||||
Restricted cash, bond | $ | 10,000 | |||
Geothermal water rights | 451,608 | ||||
461,608 | |||||
Liability: | |||||
Note payable, intercompany | -100,000 | ||||
Net acquisition cost | $ | 361,608 |
ORGANIZATION_AND_DESCRIPTION_O1
ORGANIZATION AND DESCRIPTION OF BUSINESS (Narrative) (Details) | 12 Months Ended |
Dec. 31, 2014 | |
Organization And Description Of Business 1 | 50.00% |
Organization And Description Of Business 2 | 100.00% |
Organization And Description Of Business 3 | 100.00% |
SUMMARY_OF_SIGNIFICANT_ACCOUNT2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Narrative) (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Y | |
D | |
Summary Of Significant Accounting Policies 1 | $3,800,000 |
Summary Of Significant Accounting Policies 2 | 271,000 |
Summary Of Significant Accounting Policies 3 | 90 |
Summary Of Significant Accounting Policies 4 | 250,000 |
Summary Of Significant Accounting Policies 5 | 4,487,085 |
Summary Of Significant Accounting Policies 6 | 4,577,004 |
Summary Of Significant Accounting Policies 7 | 3,156,637 |
Summary Of Significant Accounting Policies 8 | 30,515,067 |
Summary Of Significant Accounting Policies 9 | $500,000 |
Summary Of Significant Accounting Policies 10 | 30 |
Summary Of Significant Accounting Policies 11 | 126,744,104 |
Summary Of Significant Accounting Policies 12 | 126,006,172 |
Summary Of Significant Accounting Policies 13 | 124,494,963 |
Summary Of Significant Accounting Policies 14 | 123,497,883 |
RESTRICTED_CASH_AND_BOND_RESER2
RESTRICTED CASH AND BOND RESERVES (Narrative) (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Restricted Cash And Bond Reserves 1 | $100,000 |
Restricted Cash And Bond Reserves 2 | $10,000 |
INVESTMENT_IN_EQUITY_SECURITIE1
INVESTMENT IN EQUITY SECURITIES (Narrative) (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Investment In Equity Securities 1 | 150,000 |
Investment In Equity Securities 2 | $41,528 |
Investment In Equity Securities 3 | 27,967 |
Investment In Equity Securities 4 | $27,321 |
PROPERTY_PLANT_AND_EQUIPMENT_N
PROPERTY, PLANT AND EQUIPMENT (Narrative) (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Property, Plant And Equipment 1 | $2,030,000 |
Property, Plant And Equipment 2 | 632,210 |
Property, Plant And Equipment 3 | 924,000 |
Property, Plant And Equipment 4 | 133,000 |
Property, Plant And Equipment 5 | 7,740,000 |
Property, Plant And Equipment 6 | 1,600,000 |
Property, Plant And Equipment 7 | 6,140,000 |
Property, Plant And Equipment 8 | 259,000 |
Property, Plant And Equipment 9 | 1,700,000 |
Property, Plant And Equipment 10 | 2,260,000 |
Property, Plant And Equipment 11 | 7,800,000 |
Property, Plant And Equipment 12 | 1,050,000 |
Property, Plant And Equipment 13 | 2,140,000 |
Property, Plant And Equipment 14 | 817,000 |
Property, Plant And Equipment 15 | 6,186,132 |
Property, Plant And Equipment 16 | $6,393,581 |
INTANGIBLE_ASSETS_Narrative_De
INTANGIBLE ASSETS (Narrative) (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
acre | |
Intangible Assets 1 | $278,872 |
Intangible Assets 2 | 26,017 |
Intangible Assets 3 | 451,608 |
Intangible Assets 4 | 451,299 |
Intangible Assets 5 | 181,685 |
Intangible Assets 6 | $181,685 |
INCOME_TAXES_Narrative_Details
INCOME TAXES (Narrative) (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Income Taxes 1 | $12,102,000 |
Income Taxes 2 | 10,435,000 |
Income Taxes 3 | 81,166,000 |
Income Taxes 4 | 74,550,000 |
Income Taxes 5 | 76,837,000 |
Income Taxes 6 | 30,000,000 |
Income Taxes 7 | 382 |
Income Taxes 8 | 4,329,000 |
Income Taxes 9 | 38,700,000 |
Income Taxes 10 | 99.00% |
Income Taxes 11 | $57,500,000 |
CAPITAL_LEASE_OBLIGATIONS_Narr
CAPITAL LEASE OBLIGATIONS (Narrative) (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
M | |
Capital Lease Obligations 1 | 36 |
Capital Lease Obligations 2 | $1,094 |
Capital Lease Obligations 3 | 5.99% |
Capital Lease Obligations 4 | 36 |
Capital Lease Obligations 5 | 3,155 |
Capital Lease Obligations 6 | 6.14% |
Capital Lease Obligations 7 | 21,249 |
Capital Lease Obligations 8 | 20,921 |
Capital Lease Obligations 9 | 328 |
Capital Lease Obligations 10 | 34,755 |
Capital Lease Obligations 11 | 155,000 |
Capital Lease Obligations 12 | $120,245 |
NOTES_PAYABLE_Narrative_Detail
NOTES PAYABLE (Narrative) (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Y | |
MW | |
Notes Payable 1 | $96,800,000 |
Notes Payable 2 | 13 |
Notes Payable 3 | 11,870,137 |
Notes Payable 4 | 11,167,473 |
Notes Payable 5 | 9,711,930 |
Notes Payable 6 | 70,386,576 |
Notes Payable 7 | 21.5 |
Notes Payable 8 | 2.60% |
Notes Payable 9 | 1,709,963 |
Notes Payable 10 | 1,626,251 |
Notes Payable 11 | 66,974,610 |
Notes Payable 12 | 3,419,927 |
Notes Payable 13 | 10 |
Notes Payable 14 | 2,000,000 |
Notes Payable 15 | 119,382 |
Notes Payable 16 | 7.00% |
Notes Payable 17 | 1,487,266 |
Notes Payable 18 | 390,051 |
Notes Payable 19 | 24 |
Notes Payable 20 | 6.75% |
Notes Payable 21 | 30,182,333 |
Notes Payable 22 | 471,091 |
Notes Payable 23 | 47,000 |
Notes Payable 24 | 1,257 |
Notes Payable 25 | 7.90% |
Notes Payable 26 | 68,412 |
Notes Payable 27 | $9,919 |
CAPITAL_STOCK_Narrative_Detail
CAPITAL STOCK (Narrative) (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Capital Stock 1 | 250,000,000 |
Capital Stock 2 | 50.00% |
Capital Stock 3 | 692,769 |
Capital Stock 4 | 50.00% |
Capital Stock 5 | 2,459,460 |
Capital Stock 6 | $0.50 |
Capital Stock 7 | 559,122 |
Capital Stock 8 | $0.74 |
Capital Stock 9 | $0.46 |
Capital Stock 10 | 352,500 |
Capital Stock 11 | $0.31 |
Capital Stock 12 | 724,500 |
Capital Stock 13 | 0.31 |
Capital Stock 14 | $0.46 |
Capital Stock 15 | 135,136 |
Capital Stock 16 | $0.50 |
Capital Stock 17 | 577,778 |
Capital Stock 18 | 300,000 |
Capital Stock 19 | $0.35 |
Capital Stock 20 | $0.36 |
STOCK_BASED_COMPENSATION_Narra
STOCK BASED COMPENSATION (Narrative) (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Y | |
Stock Based Compensation 1 | 15.00% |
Stock Based Compensation 2 | 15.00% |
Stock Based Compensation 3 | 16,052,704 |
Stock Based Compensation 4 | 25.00% |
Stock Based Compensation 5 | 25.00% |
Stock Based Compensation 6 | 11,808,500 |
Stock Based Compensation 7 | 40,000 |
Stock Based Compensation 8 | $0.74 |
Stock Based Compensation 9 | 68,000 |
Stock Based Compensation 10 | 1.58 |
Stock Based Compensation 11 | 50,000 |
Stock Based Compensation 12 | 0.83 |
Stock Based Compensation 13 | 2,883,500 |
Stock Based Compensation 14 | 0.74 |
Stock Based Compensation 15 | 352,500 |
Stock Based Compensation 16 | 0.31 |
Stock Based Compensation 17 | 1,698,250 |
Stock Based Compensation 18 | 0.92 |
Stock Based Compensation 19 | 724,500 |
Stock Based Compensation 20 | 0.31 |
Stock Based Compensation 21 | 0.46 |
Stock Based Compensation 22 | 30,000 |
Stock Based Compensation 23 | 0.46 |
Stock Based Compensation 24 | 95,000 |
Stock Based Compensation 25 | 1.78 |
Stock Based Compensation 26 | 15,000 |
Stock Based Compensation 27 | 0.41 |
Stock Based Compensation 28 | 1,950,000 |
Stock Based Compensation 29 | 0.46 |
Stock Based Compensation 30 | 6,375 |
Stock Based Compensation 31 | 0.92 |
Stock Based Compensation 32 | 1,465,000 |
Stock Based Compensation 33 | 2.22 |
Stock Based Compensation 34 | 1,250,000 |
Stock Based Compensation 35 | 0.35 |
Stock Based Compensation 36 | 433,322 |
Stock Based Compensation 37 | 1.5 |
Stock Based Compensation 38 | 1,115,391 |
Stock Based Compensation 39 | 683,143 |
Stock Based Compensation 40 | 300,000 |
Stock Based Compensation 41 | $0.35 |
Stock Based Compensation 42 | 105,000 |
Stock Based Compensation 43 | 31,208 |
Stock Based Compensation 44 | 559,122 |
Stock Based Compensation 45 | 0.46 |
Stock Based Compensation 46 | 257,196 |
Stock Based Compensation 47 | 192,897 |
Stock Based Compensation 48 | 2,459,460 |
Stock Based Compensation 49 | 0.5 |
Stock Based Compensation 50 | 135,136 |
Stock Based Compensation 51 | 0.5 |
Stock Based Compensation 52 | 500,000 |
Stock Based Compensation 53 | $5 |
RELATED_PARTY_TRANSACTIONS_Nar
RELATED PARTY TRANSACTIONS (Narrative) (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Related Party Transactions 1 | $5,195 |
Related Party Transactions 2 | 3,089 |
Related Party Transactions 3 | 115,300 |
Related Party Transactions 4 | $99,000 |
COMMITMENTS_AND_CONTINGENCIES_1
COMMITMENTS AND CONTINGENCIES (Narrative) (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
M | |
mi | |
MW | |
Y | |
acre | |
Commitments And Contingencies 1 | $579,815 |
Commitments And Contingencies 2 | 286,923 |
Commitments And Contingencies 3 | 3,502 |
Commitments And Contingencies 4 | 10 |
Commitments And Contingencies 5 | 21,905 |
Commitments And Contingencies 6 | 10 |
Commitments And Contingencies 7 | 40 |
Commitments And Contingencies 8 | 3,615 |
Commitments And Contingencies 9 | 10.00% |
Commitments And Contingencies 10 | 4.00% |
Commitments And Contingencies 11 | 5.00% |
Commitments And Contingencies 12 | 7 |
Commitments And Contingencies 13 | 10 |
Commitments And Contingencies 14 | 3.00% |
Commitments And Contingencies 15 | 10 |
Commitments And Contingencies 16 | 4.00% |
Commitments And Contingencies 17 | 2,443.70 |
Commitments And Contingencies 18 | 10 |
Commitments And Contingencies 19 | 40 |
Commitments And Contingencies 20 | 2,444 |
Commitments And Contingencies 21 | 451,299 |
Commitments And Contingencies 22 | 1,298 |
Commitments And Contingencies 23 | 5 |
Commitments And Contingencies 24 | 30 |
Commitments And Contingencies 25 | 44,450 |
Commitments And Contingencies 26 | 3 |
Commitments And Contingencies 27 | 7,429 |
Commitments And Contingencies 28 | 10 |
Commitments And Contingencies 29 | 3.00% |
Commitments And Contingencies 30 | 5 |
Commitments And Contingencies 31 | 4.00% |
Commitments And Contingencies 32 | 10 |
Commitments And Contingencies 33 | 5.00% |
Commitments And Contingencies 34 | 2.00% |
Commitments And Contingencies 35 | 10 |
Commitments And Contingencies 36 | 3.00% |
Commitments And Contingencies 37 | 3,809 |
Commitments And Contingencies 38 | 6 |
Commitments And Contingencies 39 | 274,000 |
Commitments And Contingencies 40 | 63 |
Commitments And Contingencies 41 | 26,017 |
Commitments And Contingencies 42 | 10 |
Commitments And Contingencies 43 | 40 |
Commitments And Contingencies 44 | 70,898 |
Commitments And Contingencies 45 | 5 |
Commitments And Contingencies 46 | 3,234 |
Commitments And Contingencies 47 | 6,418 |
Commitments And Contingencies 48 | 5 |
Commitments And Contingencies 49 | 115,830 |
Commitments And Contingencies 50 | 6,535 |
Commitments And Contingencies 51 | 78,423 |
Commitments And Contingencies 52 | 13 |
Commitments And Contingencies 53 | 120.00% |
Commitments And Contingencies 54 | 73.50% |
Commitments And Contingencies 55 | 100.00% |
Commitments And Contingencies 56 | 53.6 |
Commitments And Contingencies 57 | 53.6 |
Commitments And Contingencies 58 | 2.10% |
Commitments And Contingencies 59 | 16 |
Commitments And Contingencies 60 | 25 |
Commitments And Contingencies 61 | 0.60% |
Commitments And Contingencies 62 | 3,250 |
Commitments And Contingencies 63 | 25 |
Commitments And Contingencies 64 | 89.75 |
Commitments And Contingencies 65 | 1.00% |
Commitments And Contingencies 66 | 73,444 |
Commitments And Contingencies 67 | 1,468,898 |
Commitments And Contingencies 68 | 25 |
Commitments And Contingencies 69 | 25 |
Commitments And Contingencies 70 | 96 |
Commitments And Contingencies 71 | 3.90% |
Commitments And Contingencies 72 | 1.00% |
Commitments And Contingencies 73 | 25 |
Commitments And Contingencies 74 | 117.65 |
Commitments And Contingencies 75 | 800,000 |
Commitments And Contingencies 76 | 600,000 |
Commitments And Contingencies 77 | 3 |
Commitments And Contingencies 78 | 50.00% |
Commitments And Contingencies 79 | 6.00% |
Commitments And Contingencies 80 | 25.00% |
Commitments And Contingencies 81 | 6.00% |
Commitments And Contingencies 82 | 97,785 |
Commitments And Contingencies 83 | $60,425 |
JOINT_VENTURESNONCONTROLLING_I2
JOINT VENTURES/NON-CONTROLLING INTEREST (Narrative) (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Y | |
Joint Ventures/non-controlling Interest 1 | 60.00% |
Joint Ventures/non-controlling Interest 2 | 40.00% |
Joint Ventures/non-controlling Interest 3 | 40.00% |
Joint Ventures/non-controlling Interest 4 | 10.00% |
Joint Ventures/non-controlling Interest 5 | 10.00% |
Joint Ventures/non-controlling Interest 6 | $757,190 |
Joint Ventures/non-controlling Interest 7 | 300,000 |
Joint Ventures/non-controlling Interest 8 | 704,460 |
Joint Ventures/non-controlling Interest 9 | 11,040 |
Joint Ventures/non-controlling Interest 10 | 7,360 |
Joint Ventures/non-controlling Interest 11 | 400,000 |
Joint Ventures/non-controlling Interest 12 | 32.65% |
Joint Ventures/non-controlling Interest 13 | 67.35% |
Joint Ventures/non-controlling Interest 14 | 100.00% |
Joint Ventures/non-controlling Interest 15 | 40.00% |
Joint Ventures/non-controlling Interest 16 | 60.00% |
Joint Ventures/non-controlling Interest 17 | 100.00% |
Joint Ventures/non-controlling Interest 18 | 32,801,000 |
Joint Ventures/non-controlling Interest 19 | 12,388,606 |
Joint Ventures/non-controlling Interest 20 | 15,024,334 |
Joint Ventures/non-controlling Interest 21 | 100.00% |
Joint Ventures/non-controlling Interest 22 | 17,900,000 |
Joint Ventures/non-controlling Interest 23 | 34,100,000 |
Joint Ventures/non-controlling Interest 24 | 99.00% |
Joint Ventures/non-controlling Interest 25 | 1.00% |
Joint Ventures/non-controlling Interest 26 | 10 |
Joint Ventures/non-controlling Interest 27 | 100.00% |
Joint Ventures/non-controlling Interest 28 | 12.00% |
Joint Ventures/non-controlling Interest 29 | 90.00% |
Joint Ventures/non-controlling Interest 30 | 2,136,150 |
Joint Ventures/non-controlling Interest 31 | 1,003,833 |
Joint Ventures/non-controlling Interest 32 | 755,288 |
Joint Ventures/non-controlling Interest 33 | 377,029 |
Joint Ventures/non-controlling Interest 34 | $1,380,862 |
ACQUISITIONS_Narrative_Details
ACQUISITIONS (Narrative) (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
acre | |
M | |
Acquisitions 1 | $6,780,000 |
Acquisitions 2 | 6,400,000 |
Acquisitions 3 | 380,000 |
Acquisitions 4 | 4 |
Acquisitions 5 | 1,400,000 |
Acquisitions 6 | 692,769 |
Acquisitions 7 | 42,934 |
Acquisitions 8 | 50.00% |
Acquisitions 9 | 6 |
Acquisitions 10 | 26,017 |
Acquisitions 11 | $100,000 |
Acquisitions 12 | 7.00% |
Schedule_of_Property_Plant_and
Schedule of Property, Plant and Equipment, Estimated Useful Lives (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Summary Of Significant Accounting Policies Schedule Of Property, Plant And Equipment, Estimated Useful Lives 1 | $3 |
Summary Of Significant Accounting Policies Schedule Of Property, Plant And Equipment, Estimated Useful Lives 2 | 5 |
Summary Of Significant Accounting Policies Schedule Of Property, Plant And Equipment, Estimated Useful Lives 3 | 3 |
Summary Of Significant Accounting Policies Schedule Of Property, Plant And Equipment, Estimated Useful Lives 4 | 30 |
Summary Of Significant Accounting Policies Schedule Of Property, Plant And Equipment, Estimated Useful Lives 5 | 30 |
Summary Of Significant Accounting Policies Schedule Of Property, Plant And Equipment, Estimated Useful Lives 6 | 5 |
Summary Of Significant Accounting Policies Schedule Of Property, Plant And Equipment, Estimated Useful Lives 7 | 15 |
Summary Of Significant Accounting Policies Schedule Of Property, Plant And Equipment, Estimated Useful Lives 8 | 30 |
Summary Of Significant Accounting Policies Schedule Of Property, Plant And Equipment, Estimated Useful Lives 9 | $30 |
Schedule_of_Current_restricted
Schedule of Current restricted cash and bond reserves (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Restricted Cash And Bond Reserves Schedule Of Current Restricted Cash And Bond Reserves 1 | $260,000 |
Restricted Cash And Bond Reserves Schedule Of Current Restricted Cash And Bond Reserves 2 | 260,000 |
Restricted Cash And Bond Reserves Schedule Of Current Restricted Cash And Bond Reserves 3 | 10,000 |
Restricted Cash And Bond Reserves Schedule Of Current Restricted Cash And Bond Reserves 4 | 10,000 |
Restricted Cash And Bond Reserves Schedule Of Current Restricted Cash And Bond Reserves 5 | 50,000 |
Restricted Cash And Bond Reserves Schedule Of Current Restricted Cash And Bond Reserves 6 | 50,000 |
Restricted Cash And Bond Reserves Schedule Of Current Restricted Cash And Bond Reserves 7 | 150,000 |
Restricted Cash And Bond Reserves Schedule Of Current Restricted Cash And Bond Reserves 8 | 150,000 |
Restricted Cash And Bond Reserves Schedule Of Current Restricted Cash And Bond Reserves 9 | 400,000 |
Restricted Cash And Bond Reserves Schedule Of Current Restricted Cash And Bond Reserves 10 | 400,000 |
Restricted Cash And Bond Reserves Schedule Of Current Restricted Cash And Bond Reserves 11 | 188,930 |
Restricted Cash And Bond Reserves Schedule Of Current Restricted Cash And Bond Reserves 12 | 19,848 |
Restricted Cash And Bond Reserves Schedule Of Current Restricted Cash And Bond Reserves 13 | 10,000 |
Restricted Cash And Bond Reserves Schedule Of Current Restricted Cash And Bond Reserves 14 | 0 |
Restricted Cash And Bond Reserves Schedule Of Current Restricted Cash And Bond Reserves 15 | 2,151,851 |
Restricted Cash And Bond Reserves Schedule Of Current Restricted Cash And Bond Reserves 16 | 2,191,172 |
Restricted Cash And Bond Reserves Schedule Of Current Restricted Cash And Bond Reserves 17 | 100,000 |
Restricted Cash And Bond Reserves Schedule Of Current Restricted Cash And Bond Reserves 18 | 0 |
Restricted Cash And Bond Reserves Schedule Of Current Restricted Cash And Bond Reserves 19 | 3,320,781 |
Restricted Cash And Bond Reserves Schedule Of Current Restricted Cash And Bond Reserves 20 | $3,081,020 |
Schedule_of_Longterm_restricte
Schedule of Long-term restricted cash and bond reserves (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Restricted Cash And Bond Reserves Schedule Of Long-term Restricted Cash And Bond Reserves 1 | $1,468,898 |
Restricted Cash And Bond Reserves Schedule Of Long-term Restricted Cash And Bond Reserves 2 | 1,468,898 |
Restricted Cash And Bond Reserves Schedule Of Long-term Restricted Cash And Bond Reserves 3 | 1,594,605 |
Restricted Cash And Bond Reserves Schedule Of Long-term Restricted Cash And Bond Reserves 4 | 1,594,437 |
Restricted Cash And Bond Reserves Schedule Of Long-term Restricted Cash And Bond Reserves 5 | 604,529 |
Restricted Cash And Bond Reserves Schedule Of Long-term Restricted Cash And Bond Reserves 6 | 751,183 |
Restricted Cash And Bond Reserves Schedule Of Long-term Restricted Cash And Bond Reserves 7 | 212,298 |
Restricted Cash And Bond Reserves Schedule Of Long-term Restricted Cash And Bond Reserves 8 | 53,072 |
Restricted Cash And Bond Reserves Schedule Of Long-term Restricted Cash And Bond Reserves 9 | 270,000 |
Restricted Cash And Bond Reserves Schedule Of Long-term Restricted Cash And Bond Reserves 10 | 270,000 |
Restricted Cash And Bond Reserves Schedule Of Long-term Restricted Cash And Bond Reserves 11 | 2,582,606 |
Restricted Cash And Bond Reserves Schedule Of Long-term Restricted Cash And Bond Reserves 12 | 2,668,179 |
Restricted Cash And Bond Reserves Schedule Of Long-term Restricted Cash And Bond Reserves 13 | 4,505,150 |
Restricted Cash And Bond Reserves Schedule Of Long-term Restricted Cash And Bond Reserves 14 | 4,501,191 |
Restricted Cash And Bond Reserves Schedule Of Long-term Restricted Cash And Bond Reserves 15 | 4,761,927 |
Restricted Cash And Bond Reserves Schedule Of Long-term Restricted Cash And Bond Reserves 16 | 4,507,391 |
Restricted Cash And Bond Reserves Schedule Of Long-term Restricted Cash And Bond Reserves 17 | 2,690,083 |
Restricted Cash And Bond Reserves Schedule Of Long-term Restricted Cash And Bond Reserves 18 | 3,000,794 |
Restricted Cash And Bond Reserves Schedule Of Long-term Restricted Cash And Bond Reserves 19 | 18,690,096 |
Restricted Cash And Bond Reserves Schedule Of Long-term Restricted Cash And Bond Reserves 20 | $18,815,145 |
Schedule_of_Property_Plant_and1
Schedule of Property, Plant and Equipment (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 1 | $3,211,010 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 2 | 1,603,509 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 3 | 162,076,367 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 4 | 161,868,687 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 5 | 52,965,236 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 6 | 52,965,236 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 7 | 67,621,167 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 8 | 67,620,661 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 9 | 3,464,555 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 10 | 3,464,555 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 11 | 1,796,807 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 12 | 1,462,312 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 13 | 178,275,560 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 14 | 176,125,378 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 15 | 27,068,836 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 16 | 20,895,943 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 17 | 151,206,724 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 18 | 155,229,435 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 19 | 15,652,722 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 20 | 6,354,503 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 21 | 166,859,446 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 22 | $161,583,938 |
Schedule_of_Changes_in_Constru
Schedule of Changes in Construction in Progress (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Property, Plant And Equipment Schedule Of Changes In Construction In Progress 1 | $6,354,503 |
Property, Plant And Equipment Schedule Of Changes In Construction In Progress 2 | 2,877,994 |
Property, Plant And Equipment Schedule Of Changes In Construction In Progress 3 | 3,730,371 |
Property, Plant And Equipment Schedule Of Changes In Construction In Progress 4 | 3,694,978 |
Property, Plant And Equipment Schedule Of Changes In Construction In Progress 5 | 632,210 |
Property, Plant And Equipment Schedule Of Changes In Construction In Progress 6 | 33,325 |
Property, Plant And Equipment Schedule Of Changes In Construction In Progress 7 | 6,200,058 |
Property, Plant And Equipment Schedule Of Changes In Construction In Progress 8 | 0 |
Property, Plant And Equipment Schedule Of Changes In Construction In Progress 9 | 0 |
Property, Plant And Equipment Schedule Of Changes In Construction In Progress 10 | 185,144 |
Property, Plant And Equipment Schedule Of Changes In Construction In Progress 11 | 15,652,722 |
Property, Plant And Equipment Schedule Of Changes In Construction In Progress 12 | $6,354,503 |
Schedule_of_Changes_in_Constru1
Schedule of Changes in Construction in Progress, by Project (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Property, Plant And Equipment Schedule Of Changes In Construction In Progress, By Project 1 | $750,493 |
Property, Plant And Equipment Schedule Of Changes In Construction In Progress, By Project 2 | 750,493 |
Property, Plant And Equipment Schedule Of Changes In Construction In Progress, By Project 3 | 2,127,547 |
Property, Plant And Equipment Schedule Of Changes In Construction In Progress, By Project 4 | 2,121,502 |
Property, Plant And Equipment Schedule Of Changes In Construction In Progress, By Project 5 | 2,878,040 |
Property, Plant And Equipment Schedule Of Changes In Construction In Progress, By Project 6 | 2,871,995 |
Property, Plant And Equipment Schedule Of Changes In Construction In Progress, By Project 7 | 383,536 |
Property, Plant And Equipment Schedule Of Changes In Construction In Progress, By Project 8 | 3,910 |
Property, Plant And Equipment Schedule Of Changes In Construction In Progress, By Project 9 | 3,133,873 |
Property, Plant And Equipment Schedule Of Changes In Construction In Progress, By Project 10 | 1,753,299 |
Property, Plant And Equipment Schedule Of Changes In Construction In Progress, By Project 11 | 3,517,409 |
Property, Plant And Equipment Schedule Of Changes In Construction In Progress, By Project 12 | 1,757,209 |
Property, Plant And Equipment Schedule Of Changes In Construction In Progress, By Project 13 | 6,477 |
Property, Plant And Equipment Schedule Of Changes In Construction In Progress, By Project 14 | 0 |
Property, Plant And Equipment Schedule Of Changes In Construction In Progress, By Project 15 | 319,988 |
Property, Plant And Equipment Schedule Of Changes In Construction In Progress, By Project 16 | 0 |
Property, Plant And Equipment Schedule Of Changes In Construction In Progress, By Project 17 | 6,139,421 |
Property, Plant And Equipment Schedule Of Changes In Construction In Progress, By Project 18 | 0 |
Property, Plant And Equipment Schedule Of Changes In Construction In Progress, By Project 19 | 6,459,409 |
Property, Plant And Equipment Schedule Of Changes In Construction In Progress, By Project 20 | 0 |
Property, Plant And Equipment Schedule Of Changes In Construction In Progress, By Project 21 | 133,058 |
Property, Plant And Equipment Schedule Of Changes In Construction In Progress, By Project 22 | 0 |
Property, Plant And Equipment Schedule Of Changes In Construction In Progress, By Project 23 | 2,649,829 |
Property, Plant And Equipment Schedule Of Changes In Construction In Progress, By Project 24 | 1,725,299 |
Property, Plant And Equipment Schedule Of Changes In Construction In Progress, By Project 25 | 8,500 |
Property, Plant And Equipment Schedule Of Changes In Construction In Progress, By Project 26 | 0 |
Property, Plant And Equipment Schedule Of Changes In Construction In Progress, By Project 27 | 2,658,329 |
Property, Plant And Equipment Schedule Of Changes In Construction In Progress, By Project 28 | 1,725,299 |
Property, Plant And Equipment Schedule Of Changes In Construction In Progress, By Project 29 | 15,652,722 |
Property, Plant And Equipment Schedule Of Changes In Construction In Progress, By Project 30 | $6,354,503 |
Schedule_of_Intangible_Assets_
Schedule of Intangible Assets and Goodwill (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Intangible Assets Schedule Of Intangible Assets And Goodwill 1 | $625,337 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 2 | 625,337 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 3 | 4,825,220 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 4 | 4,825,220 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 5 | 1,117,434 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 6 | 935,749 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 7 | 4,333,123 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 8 | 4,514,808 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 9 | 146,343 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 10 | 146,343 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 11 | 1,251,540 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 12 | 1,251,540 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 13 | 0 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 14 | 451,299 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 15 | 625,000 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 16 | 625,000 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 17 | 997,000 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 18 | 997,000 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 19 | 451,608 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 20 | 0 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 21 | 278,872 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 22 | 0 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 23 | 4,323,520 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 24 | 4,323,520 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 25 | 3,440,580 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 26 | 3,440,580 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 27 | 430,072 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 28 | 430,072 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 29 | 11,084,391 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 30 | 10,805,210 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 31 | 15,417,514 |
Intangible Assets Schedule Of Intangible Assets And Goodwill 32 | $15,320,018 |
Schedule_of_FiniteLived_Intang
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Intangible Assets Schedule Of Finite-lived Intangible Assets, Future Amortization Expense 1 | $181,685 |
Intangible Assets Schedule Of Finite-lived Intangible Assets, Future Amortization Expense 2 | 181,685 |
Intangible Assets Schedule Of Finite-lived Intangible Assets, Future Amortization Expense 3 | 181,685 |
Intangible Assets Schedule Of Finite-lived Intangible Assets, Future Amortization Expense 4 | 181,685 |
Intangible Assets Schedule Of Finite-lived Intangible Assets, Future Amortization Expense 5 | 181,685 |
Intangible Assets Schedule Of Finite-lived Intangible Assets, Future Amortization Expense 6 | $908,425 |
Schedule_of_Deferred_Tax_Asset
Schedule of Deferred Tax Assets and Liabilities (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 1 | $47,696,000 |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 2 | 17,096,000 |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 3 | 30,600,000 |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 4 | 1,518,000 |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 5 | 0 |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 6 | 1,518,000 |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 7 | 44,940,000 |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 8 | 23,129,000 |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 9 | 21,811,000 |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 10 | 4,274,000 |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 11 | 6,033,000 |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 12 | $10,307,000 |
Schedule_of_Components_of_Inco
Schedule of Components of Income Tax Expense (Benefit) (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 1 | $1,730,000 |
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 2 | 0 |
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 3 | 73,000 |
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 4 | 28,000 |
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 5 | 30,623,000 |
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 6 | 28,478,000 |
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 7 | 1,445,000 |
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 8 | 1,089,000 |
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 9 | 1,397,000 |
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 10 | 4,331,000 |
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 11 | 20,414,000 |
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 12 | 14,829,000 |
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 13 | 12,060,000 |
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 14 | 10,435,000 |
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 15 | 1,753,000 |
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 16 | 1,578,000 |
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 17 | 0 |
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 18 | 8,857,000 |
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 19 | 10,307,000 |
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 20 | $0 |
Schedule_of_Effective_Income_T
Schedule of Effective Income Tax Rate Reconciliation (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Income Taxes Schedule Of Effective Income Tax Rate Reconciliation 1 | 34.00% |
Income Taxes Schedule Of Effective Income Tax Rate Reconciliation 2 | 34.00% |
Income Taxes Schedule Of Effective Income Tax Rate Reconciliation 3 | 3.7 |
Income Taxes Schedule Of Effective Income Tax Rate Reconciliation 4 | 4.2 |
Income Taxes Schedule Of Effective Income Tax Rate Reconciliation 5 | $0 |
Income Taxes Schedule Of Effective Income Tax Rate Reconciliation 6 | $0 |
Income Taxes Schedule Of Effective Income Tax Rate Reconciliation 7 | 37.70% |
Income Taxes Schedule Of Effective Income Tax Rate Reconciliation 8 | 38.20% |
Summary_of_Valuation_Allowance
Summary of Valuation Allowance (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Income Taxes Summary Of Valuation Allowance 1 | $5,588,000 |
Income Taxes Summary Of Valuation Allowance 2 | 16,258,000 |
Income Taxes Summary Of Valuation Allowance 3 | 45,000 |
Income Taxes Summary Of Valuation Allowance 4 | 614,000 |
Income Taxes Summary Of Valuation Allowance 5 | 407,000 |
Income Taxes Summary Of Valuation Allowance 6 | 251,000 |
Income Taxes Summary Of Valuation Allowance 7 | 1,753,000 |
Income Taxes Summary Of Valuation Allowance 8 | 1,578,000 |
Income Taxes Summary Of Valuation Allowance 9 | 2,747,000 |
Income Taxes Summary Of Valuation Allowance 10 | 17,518,000 |
Income Taxes Summary Of Valuation Allowance 11 | 10,307,000 |
Income Taxes Summary Of Valuation Allowance 12 | 0 |
Income Taxes Summary Of Valuation Allowance 13 | 8,857,000 |
Income Taxes Summary Of Valuation Allowance 14 | $1,973,000 |
Investments_and_Advances_to_Af
Investments and Advances to Affiliates (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Notes Payable Investments And Advances To Affiliates 1 | $2,328,422 |
Notes Payable Investments And Advances To Affiliates 2 | 2.997 |
Notes Payable Investments And Advances To Affiliates 3 | 10,043,467 |
Notes Payable Investments And Advances To Affiliates 4 | 2.755 |
Notes Payable Investments And Advances To Affiliates 5 | 3,600,026 |
Notes Payable Investments And Advances To Affiliates 6 | 2.918 |
Notes Payable Investments And Advances To Affiliates 7 | 4,377,079 |
Notes Payable Investments And Advances To Affiliates 8 | 2.795 |
Notes Payable Investments And Advances To Affiliates 9 | 2,313,322 |
Notes Payable Investments And Advances To Affiliates 10 | 2.608 |
Notes Payable Investments And Advances To Affiliates 11 | 8,968,019 |
Notes Payable Investments And Advances To Affiliates 12 | 2.772 |
Notes Payable Investments And Advances To Affiliates 13 | 13,029,325 |
Notes Payable Investments And Advances To Affiliates 14 | 2.695 |
Notes Payable Investments And Advances To Affiliates 15 | 19,497,204 |
Notes Payable Investments And Advances To Affiliates 16 | 2.408 |
Notes Payable Investments And Advances To Affiliates 17 | 7,709,454 |
Notes Payable Investments And Advances To Affiliates 18 | 2.36 |
Notes Payable Investments And Advances To Affiliates 19 | 2,567,121 |
Notes Payable Investments And Advances To Affiliates 20 | 2.396 |
Notes Payable Investments And Advances To Affiliates 21 | 2,355,316 |
Notes Payable Investments And Advances To Affiliates 22 | 2.83 |
Notes Payable Investments And Advances To Affiliates 23 | 2,242,628 |
Notes Payable Investments And Advances To Affiliates 24 | 3.073 |
Notes Payable Investments And Advances To Affiliates 25 | 4,026,582 |
Notes Payable Investments And Advances To Affiliates 26 | 3.214 |
Notes Payable Investments And Advances To Affiliates 27 | 83,057,965 |
Notes Payable Investments And Advances To Affiliates 28 | 16,083,355 |
Notes Payable Investments And Advances To Affiliates 29 | $66,974,610 |
Schedule_of_Annual_Principal_P
Schedule of Annual Principal Payments Construction in Progress (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Notes Payable Schedule Of Annual Principal Payments Construction In Progress 1 | $4,336,271 |
Notes Payable Schedule Of Annual Principal Payments Construction In Progress 2 | 4,422,738 |
Notes Payable Schedule Of Annual Principal Payments Construction In Progress 3 | 4,344,834 |
Notes Payable Schedule Of Annual Principal Payments Construction In Progress 4 | 4,093,067 |
Notes Payable Schedule Of Annual Principal Payments Construction In Progress 5 | 3,962,127 |
Notes Payable Schedule Of Annual Principal Payments Construction In Progress 6 | 77,553,585 |
Notes Payable Schedule Of Annual Principal Payments Construction In Progress 7 | $98,712,622 |
Schedule_of_Sharebased_Compens
Schedule of Share-based Compensation, Stock Options, Activity (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Stock Based Compensation Schedule Of Share-based Compensation, Stock Options, Activity 1 | $10,239,625 |
Stock Based Compensation Schedule Of Share-based Compensation, Stock Options, Activity 2 | 0.91 |
Stock Based Compensation Schedule Of Share-based Compensation, Stock Options, Activity 3 | 0.55 |
Stock Based Compensation Schedule Of Share-based Compensation, Stock Options, Activity 4 | 5,606,309 |
Stock Based Compensation Schedule Of Share-based Compensation, Stock Options, Activity 5 | 1,566,375 |
Stock Based Compensation Schedule Of Share-based Compensation, Stock Options, Activity 6 | 2.18 |
Stock Based Compensation Schedule Of Share-based Compensation, Stock Options, Activity 7 | 1.2 |
Stock Based Compensation Schedule Of Share-based Compensation, Stock Options, Activity 8 | 1,872,094 |
Stock Based Compensation Schedule Of Share-based Compensation, Stock Options, Activity 9 | 0 |
Stock Based Compensation Schedule Of Share-based Compensation, Stock Options, Activity 10 | 0 |
Stock Based Compensation Schedule Of Share-based Compensation, Stock Options, Activity 11 | 0 |
Stock Based Compensation Schedule Of Share-based Compensation, Stock Options, Activity 12 | 0 |
Stock Based Compensation Schedule Of Share-based Compensation, Stock Options, Activity 13 | 3,215,000 |
Stock Based Compensation Schedule Of Share-based Compensation, Stock Options, Activity 14 | 0.42 |
Stock Based Compensation Schedule Of Share-based Compensation, Stock Options, Activity 15 | 0.25 |
Stock Based Compensation Schedule Of Share-based Compensation, Stock Options, Activity 16 | 808,500 |
Stock Based Compensation Schedule Of Share-based Compensation, Stock Options, Activity 17 | 11,888,250 |
Stock Based Compensation Schedule Of Share-based Compensation, Stock Options, Activity 18 | 0.61 |
Stock Based Compensation Schedule Of Share-based Compensation, Stock Options, Activity 19 | 0.38 |
Stock Based Compensation Schedule Of Share-based Compensation, Stock Options, Activity 20 | 4,542,715 |
Stock Based Compensation Schedule Of Share-based Compensation, Stock Options, Activity 21 | 1,886,250 |
Stock Based Compensation Schedule Of Share-based Compensation, Stock Options, Activity 22 | 0.53 |
Stock Based Compensation Schedule Of Share-based Compensation, Stock Options, Activity 23 | 0.26 |
Stock Based Compensation Schedule Of Share-based Compensation, Stock Options, Activity 24 | 1,251,738 |
Stock Based Compensation Schedule Of Share-based Compensation, Stock Options, Activity 25 | 1,077,000 |
Stock Based Compensation Schedule Of Share-based Compensation, Stock Options, Activity 26 | 0.32 |
Stock Based Compensation Schedule Of Share-based Compensation, Stock Options, Activity 27 | 0.16 |
Stock Based Compensation Schedule Of Share-based Compensation, Stock Options, Activity 28 | 171,134 |
Stock Based Compensation Schedule Of Share-based Compensation, Stock Options, Activity 29 | 2,883,500 |
Stock Based Compensation Schedule Of Share-based Compensation, Stock Options, Activity 30 | 0.74 |
Stock Based Compensation Schedule Of Share-based Compensation, Stock Options, Activity 31 | 0.4 |
Stock Based Compensation Schedule Of Share-based Compensation, Stock Options, Activity 32 | 1,153,400 |
Stock Based Compensation Schedule Of Share-based Compensation, Stock Options, Activity 33 | 11,808,500 |
Stock Based Compensation Schedule Of Share-based Compensation, Stock Options, Activity 34 | 0.62 |
Stock Based Compensation Schedule Of Share-based Compensation, Stock Options, Activity 35 | 0.36 |
Stock Based Compensation Schedule Of Share-based Compensation, Stock Options, Activity 36 | $4,273,243 |
Schedule_of_Sharebased_Payment
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Stock Based Compensation Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 1 | $0 |
Stock Based Compensation Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 2 | $0 |
Stock Based Compensation Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 3 | 81.00% |
Stock Based Compensation Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 4 | 100.00% |
Stock Based Compensation Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 5 | 71.00% |
Stock Based Compensation Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 6 | 81.00% |
Stock Based Compensation Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 7 | 0.69% |
Stock Based Compensation Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 8 | 0.82% |
Stock Based Compensation Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 9 | 0.27% |
Stock Based Compensation Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 10 | 0.82% |
Stock Based Compensation Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 11 | 2.94 |
Stock Based Compensation Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 12 | 4.63 |
Schedule_of_Disclosure_of_Shar
Schedule of Disclosure of Share-based Compensation Arrangements by Share-based Payment Award (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 1 | 0.86 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 2 | $1,300,000 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 3 | 0.7 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 4 | 1,300,000 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 5 | 752,207 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 6 | 0.83 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 7 | 2,540,000 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 8 | 1.43 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 9 | 2,540,000 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 10 | 1,244,600 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 11 | 0.6 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 12 | 100,000 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 13 | 1.7 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 14 | 100,000 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 15 | 36,072 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 16 | 0.31 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 17 | 1,865,000 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 18 | 2.65 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 19 | 1,865,000 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 20 | 290,128 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 21 | 0.46 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 22 | 1,895,000 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 23 | 3.56 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 24 | 1,421,250 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 25 | 345,222 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 26 | 0.41 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 27 | 15,000 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 28 | 3.67 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 29 | 11,250 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 30 | 2,259 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 31 | 0.35 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 32 | 1,250,000 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 33 | 8.3 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 34 | 1,250,000 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 35 | 338,000 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 36 | 0.74 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 37 | 2,843,500 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 38 | 4.25 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 39 | 1,421,750 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 40 | 574,464 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 41 | 0.62 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 42 | 11,808,500 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 43 | 3.52 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 44 | 9,909,250 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 45 | 3,582,952 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 1 | 0.92 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 2 | 1,698,250 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 3 | 0.4 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 4 | 1,698,250 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 5 | 1,200,208 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 6 | 1.58 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 7 | 68,000 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 8 | 0.73 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 9 | 68,000 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 10 | 26,435 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 11 | 0.86 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 12 | 1,300,000 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 13 | 1.7 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 14 | 1,300,000 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 15 | 752,207 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 16 | 0.83 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 17 | 2,590,000 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 18 | 2.43 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 19 | 2,590,000 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 20 | 1,269,100 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 21 | 0.6 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 22 | 100,000 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 23 | 2.7 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 24 | 100,000 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 25 | 36,072 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 26 | 0.31 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 27 | 2,917,000 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 28 | 3.65 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 29 | 2,187,750 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 30 | 340,332 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 31 | 0.46 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 32 | 1,950,000 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 33 | 4.56 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 34 | 487,500 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 35 | 118,414 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 36 | 0.41 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 37 | 15,000 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 38 | 4.67 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 39 | 3,750 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 40 | 753 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 41 | 0.35 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 42 | 1,250,000 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 43 | 9.3 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 44 | 625,000 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 45 | 169,000 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 46 | 0.61 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 47 | 11,888,250 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 48 | 3.43 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 49 | 9,060,250 | |
Stock Based Compensation Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 50 | $3,912,521 |
Schedule_of_Sharebased_Compens1
Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Stock Based Compensation Schedule Of Share-based Compensation Arrangement By Share-based Payment Award, Options, Vested And Expected To Vest, Outstanding 1 | $2,212,750 |
Stock Based Compensation Schedule Of Share-based Compensation Arrangement By Share-based Payment Award, Options, Vested And Expected To Vest, Outstanding 2 | 0.31 |
Stock Based Compensation Schedule Of Share-based Compensation Arrangement By Share-based Payment Award, Options, Vested And Expected To Vest, Outstanding 3 | 0.16 |
Stock Based Compensation Schedule Of Share-based Compensation Arrangement By Share-based Payment Award, Options, Vested And Expected To Vest, Outstanding 4 | 3,215,000 |
Stock Based Compensation Schedule Of Share-based Compensation Arrangement By Share-based Payment Award, Options, Vested And Expected To Vest, Outstanding 5 | 0.42 |
Stock Based Compensation Schedule Of Share-based Compensation Arrangement By Share-based Payment Award, Options, Vested And Expected To Vest, Outstanding 6 | 0.25 |
Stock Based Compensation Schedule Of Share-based Compensation Arrangement By Share-based Payment Award, Options, Vested And Expected To Vest, Outstanding 7 | 2,599,750 |
Stock Based Compensation Schedule Of Share-based Compensation Arrangement By Share-based Payment Award, Options, Vested And Expected To Vest, Outstanding 8 | 0.35 |
Stock Based Compensation Schedule Of Share-based Compensation Arrangement By Share-based Payment Award, Options, Vested And Expected To Vest, Outstanding 9 | 0.23 |
Stock Based Compensation Schedule Of Share-based Compensation Arrangement By Share-based Payment Award, Options, Vested And Expected To Vest, Outstanding 10 | 0 |
Stock Based Compensation Schedule Of Share-based Compensation Arrangement By Share-based Payment Award, Options, Vested And Expected To Vest, Outstanding 11 | 0 |
Stock Based Compensation Schedule Of Share-based Compensation Arrangement By Share-based Payment Award, Options, Vested And Expected To Vest, Outstanding 12 | 0 |
Stock Based Compensation Schedule Of Share-based Compensation Arrangement By Share-based Payment Award, Options, Vested And Expected To Vest, Outstanding 13 | 2,828,000 |
Stock Based Compensation Schedule Of Share-based Compensation Arrangement By Share-based Payment Award, Options, Vested And Expected To Vest, Outstanding 14 | 0.39 |
Stock Based Compensation Schedule Of Share-based Compensation Arrangement By Share-based Payment Award, Options, Vested And Expected To Vest, Outstanding 15 | 0.23 |
Stock Based Compensation Schedule Of Share-based Compensation Arrangement By Share-based Payment Award, Options, Vested And Expected To Vest, Outstanding 16 | 2,132,625 |
Stock Based Compensation Schedule Of Share-based Compensation Arrangement By Share-based Payment Award, Options, Vested And Expected To Vest, Outstanding 17 | 0.74 |
Stock Based Compensation Schedule Of Share-based Compensation Arrangement By Share-based Payment Award, Options, Vested And Expected To Vest, Outstanding 18 | 0.4 |
Stock Based Compensation Schedule Of Share-based Compensation Arrangement By Share-based Payment Award, Options, Vested And Expected To Vest, Outstanding 19 | 3,031,375 |
Stock Based Compensation Schedule Of Share-based Compensation Arrangement By Share-based Payment Award, Options, Vested And Expected To Vest, Outstanding 20 | 0.38 |
Stock Based Compensation Schedule Of Share-based Compensation Arrangement By Share-based Payment Award, Options, Vested And Expected To Vest, Outstanding 21 | 0.19 |
Stock Based Compensation Schedule Of Share-based Compensation Arrangement By Share-based Payment Award, Options, Vested And Expected To Vest, Outstanding 22 | 30,000 |
Stock Based Compensation Schedule Of Share-based Compensation Arrangement By Share-based Payment Award, Options, Vested And Expected To Vest, Outstanding 23 | 0.46 |
Stock Based Compensation Schedule Of Share-based Compensation Arrangement By Share-based Payment Award, Options, Vested And Expected To Vest, Outstanding 24 | 0.24 |
Stock Based Compensation Schedule Of Share-based Compensation Arrangement By Share-based Payment Award, Options, Vested And Expected To Vest, Outstanding 25 | $1,899,250 |
Stock Based Compensation Schedule Of Share-based Compensation Arrangement By Share-based Payment Award, Options, Vested And Expected To Vest, Outstanding 26 | 0.65 |
Stock Based Compensation Schedule Of Share-based Compensation Arrangement By Share-based Payment Award, Options, Vested And Expected To Vest, Outstanding 27 | 0.36 |
Schedule_of_Stockholders_Equit
Schedule of Stockholders' Equity Note, Warrants or Rights (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Stock Based Compensation Schedule Of Stockholders' Equity Note, Warrants Or Rights 1 | $246,285 |
Stock Based Compensation Schedule Of Stockholders' Equity Note, Warrants Or Rights 2 | 1.25 |
Stock Based Compensation Schedule Of Stockholders' Equity Note, Warrants Or Rights 3 | 4,104,757 |
Stock Based Compensation Schedule Of Stockholders' Equity Note, Warrants Or Rights 4 | 1.25 |
Stock Based Compensation Schedule Of Stockholders' Equity Note, Warrants Or Rights 5 | 255,721 |
Stock Based Compensation Schedule Of Stockholders' Equity Note, Warrants Or Rights 6 | 0.44 |
Stock Based Compensation Schedule Of Stockholders' Equity Note, Warrants Or Rights 7 | 0 |
Stock Based Compensation Schedule Of Stockholders' Equity Note, Warrants Or Rights 8 | 0 |
Stock Based Compensation Schedule Of Stockholders' Equity Note, Warrants Or Rights 9 | 0 |
Stock Based Compensation Schedule Of Stockholders' Equity Note, Warrants Or Rights 10 | 0 |
Stock Based Compensation Schedule Of Stockholders' Equity Note, Warrants Or Rights 11 | $3,310,812 |
Stock Based Compensation Schedule Of Stockholders' Equity Note, Warrants Or Rights 12 | 0.5 |
Schedule_of_Fair_Value_by_Bala
Schedule of Fair Value, by Balance Sheet Grouping (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Fair Value Measurement Schedule Of Fair Value, By Balance Sheet Grouping 1 | $30,515,067 |
Fair Value Measurement Schedule Of Fair Value, By Balance Sheet Grouping 2 | 30,515,067 |
Fair Value Measurement Schedule Of Fair Value, By Balance Sheet Grouping 3 | 0 |
Fair Value Measurement Schedule Of Fair Value, By Balance Sheet Grouping 4 | $0 |
Schedule_of_Future_Minimum_Ren
Schedule of Future Minimum Rental Payments for Operating Leases (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Commitments And Contingencies Schedule Of Future Minimum Rental Payments For Operating Leases 1 | $899,579 |
Commitments And Contingencies Schedule Of Future Minimum Rental Payments For Operating Leases 2 | 930,463 |
Commitments And Contingencies Schedule Of Future Minimum Rental Payments For Operating Leases 3 | 900,124 |
Commitments And Contingencies Schedule Of Future Minimum Rental Payments For Operating Leases 4 | 865,753 |
Commitments And Contingencies Schedule Of Future Minimum Rental Payments For Operating Leases 5 | 742,547 |
Commitments And Contingencies Schedule Of Future Minimum Rental Payments For Operating Leases 6 | $13,273,471 |
Schedule_of_Noncontrolling_Int
Schedule of Non-controlling Interests (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Joint Ventures/non-controlling Interest Schedule Of Non-controlling Interests 1 | $230,539 |
Joint Ventures/non-controlling Interest Schedule Of Non-controlling Interests 2 | 404,352 |
Joint Ventures/non-controlling Interest Schedule Of Non-controlling Interests 3 | 24,818,443 |
Joint Ventures/non-controlling Interest Schedule Of Non-controlling Interests 4 | 35,926,826 |
Joint Ventures/non-controlling Interest Schedule Of Non-controlling Interests 5 | 21,348,110 |
Joint Ventures/non-controlling Interest Schedule Of Non-controlling Interests 6 | 21,824,302 |
Joint Ventures/non-controlling Interest Schedule Of Non-controlling Interests 7 | 46,397,092 |
Joint Ventures/non-controlling Interest Schedule Of Non-controlling Interests 8 | $58,155,480 |
Business_Combination_Segment_A
Business Combination, Segment Allocation (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Ram Powers Geysers Project [Member] | |
Acquisitions Business Combination, Segment Allocation 1 | $100,000 |
Acquisitions Business Combination, Segment Allocation 2 | 1,603,516 |
Acquisitions Business Combination, Segment Allocation 3 | 278,872 |
Acquisitions Business Combination, Segment Allocation 4 | 6,139,420 |
Acquisitions Business Combination, Segment Allocation 5 | 60,637 |
Acquisitions Business Combination, Segment Allocation 6 | 8,182,445 |
Acquisitions Business Combination, Segment Allocation 7 | -1,400,000 |
Acquisitions Business Combination, Segment Allocation 8 | 6,782,445 |
Earth Power Resources Inc. [Member] | |
Acquisitions Business Combination, Segment Allocation 1 | 10,000 |
Acquisitions Business Combination, Segment Allocation 2 | 451,608 |
Acquisitions Business Combination, Segment Allocation 3 | 461,608 |
Acquisitions Business Combination, Segment Allocation 4 | -100,000 |
Acquisitions Business Combination, Segment Allocation 5 | $361,608 |