Related Party Transactions | 22. Related Party Transactions During the period ended March 31, 2015, the total fund received from individual investors through Solar Energy amounted to $8,778, of which $4,759 has been received by the Company from Solar Energy as of March 31, 2015 and Solar Energy charged $87 as commission fee to the Company at 1% of the fund principal as discussed in Note 1— Description of Business and Basis of Presentation. As of March 31, 2015 and December 31, 2014, the Company had other receivable amounted to $3,932 and nil from Solar Energy for the fund received from the individual investors on behalf of the Company by Solar Energy after the reduction of its commission fee. During the period ended March 31, 2015, the total fund redeemed to individual investors through Solar Energy amounted to $3,035, of which $2,151 has been repaid by the Company to Solar Energy as of March 31, 2015. As of March 31, 2015 and December 31, 2014, the Company had Other liabilities, related party amounted to $884 and nil to Solar Energy for the fund repaid to the individual investors on behalf of the Company by Solar Energy. During the three-months period ended March 31, 2015, the Company issued certain coupons to Jiangxi LDK Solar Hi-Tech Co., Ltd. (“LDK Jiangxi”) and Suzhou Liuxin Industry Ltd. (“Liuxin”) with total face value of $779 and $582, respectively. LDK Jiangxi is a wholly owned subsidiary of LDK Solar Co., Ltd., principle shareholder of SPI. Liuxin is wholly owned by Mr. Peng’s father. As of March 31, 2015, all coupons issued to these parties had been redeemed through the on-line platform owned by Solar Energy. The Company recognized the coupons issued to LDK Jiangxi and Liuxin, based on the face value of the coupons, in other receivable, related parties in the condensed consolidated balance sheet and selling, marketing and customer service expenses in the condensed consolidated statements of operations, respectively. During the three-month period ended March 31, 2015, the Company paid commission fee of $3 million to SUPERMERCY Limited (“SUPERMERCY”) in respect of certain funds raised by the Company through the issuance of the Company’s common stock. Pursuant to a client introducing agreement entered with SUPERMERCY on September 10, 2014, the Company agreed to pay SUPERMERCY commission at 3% of funds successfully raised by the Company that had been resulted from the services rendered by SUPERMERCY. The commission fee was direct costs incurred for the issuance of common stock and was recognized as a deduction from the additional paid in capital in the condensed consolidated statement of stockholders’ equity for the three-month period ended March 31, 2015. As of March 31, 2015 and December 31, 2014, the Company had other liabilities amounted to $884 and nil due to Solar Energy for the repayment to the individual investors on behalf of the Company. As of March 31, 2015 and December 31, 2014, the Company had prepaid $12 and $nil to LDK’s supplier for the purchase deposit on behalf of LDK. As of March 31, 2015 and December 31, 2014, the Company owed to LDK of $50 and $nil as LDK made salary payment to certain employees on behalf of the Company, respectively. As of March 31, 2015 and December 31, 2014, the Company had accounts payable to LDK of $30,667 and $34,150, respectively, primarily related to purchases of solar panels for solar development projects. The total purchase and processing of solar panels from LDK during the three months ended March 31, 2015 and 2014 amounted to $1,480 and nil, respectively. As of March 31, 2015 included in the accounts payable to LDK Group of $30,667 was an amount of $24,395 that were subject to a settlement arrangement. The remaining accounts payable balances of $6,272 were still subject to the previously agreed trade credit terms offered by LDK Group for the purchases of solar panels. On December 30, 2014, the Company entered into a Settlement and Mutual Release (“Settlement Agreement”) with LDK Solar International Company Limited (“LDK HK”), a wholly owned subsidiary of LDK, pursuant to which LDK HK agreed to release and discharge the Company from all actions, claims, demands, damages, obligations, liabilities, controversies and executions arising out of the Company’s net payables of $28,775 to LDK HK and its subsidiaries (“LDK HK Group”), in exchange for an aggregate settlement amount of $11,000. Under the Settlement Agreement, the Company agreed to pay the settlement amount of $11,000 by instalments in accordance with a predetermined schedule and LDK HK has the right to cancel the agreed settlement if any instalment payment is delayed for more than 30 days. The agreed payment schedule for the settlement amount of $11,000 is $380 on or before December 31, 2014, $2,000 on or before January 31, 2015, $1,620 on or before March 30, 2015, $2,000 on or before June 30, 2015, $1,000 on or before July 31, 2015, $2,000 on or before September 30, 2015 and $2,000 on or before December 31, 2015. As the settlement amount will only be fully paid by December 31, 2015 in accordance with the Settlement Agreement, the Company did not derecognize the waived liability of $17,775, being the difference between the amounts of $28,775 that were subject to the settlement and the agreed settlement amount of $11,000, from its consolidated balance sheet as of December 31, 2014. As of March 31, 2015, the Company had made installment payments on schedule and had paid $4,380 in total to LDK HK in accordance with the Settlement Agreement. |