Thermoenergy (TMENOB) 10-Q 15 May 14 2014 Q1 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	3 Months Ended
	Mar. 31, 2014	9-May-14
Document Information [Line Items]	'	'
Entity Registrant Name	'THERMOENERGY CORP	'
Entity Central Index Key	'0000884504	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Smaller Reporting Company	'
Trading Symbol	'TMENOB	'
Entity Common Stock, Shares Outstanding	'	135,760,516
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	31-Mar-14	'
Document Fiscal Period Focus	'Q1	'
Document Fiscal Year Focus	'2014	'

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Current Assets:	'	'
Cash and cash equivalents	$1,295	$2,508
Accounts receivable, trade	97	293
Accounts receivable, related party	20	229
Costs-in-excess of billings	323	317
Inventories, net	519	104
Other current assets	269	209
Total Current Assets	2,523	3,660
Property and equipment, net	558	593
Other assets	40	40
TOTAL ASSETS	3,121	4,293
Current Liabilities:	'	'
Accounts payable	725	687
Short term borrowings	4,000	4,000
Convertible debt	2,191	2,083
Customer deposits	975	816
Billings-in-excess of costs	292	323
Accrued payroll and other taxes	235	545
Accrued interest	330	214
Other current liabilities	393	321
Total Current Liabilities	9,141	8,989
Long Term Liabilities:	'	'
Derivative liabilities	431	186
Other long term liabilities	0	15
Total Long Term Liabilities	431	201
Total Liabilities	9,572	9,190
Commitments and contingencies (Note 8)	'	'
Series C Convertible Redeemable Preferred Stock, $0.01 par value; liquidation preference of $1.52 per share: redeemable at $0.76 per share; designated: 15,000,000 shares at March 31, 2014 and December 31, 2013; issued and outstanding: 13,853,106 shares at March 31, 2014 and December 31, 2013	8,971	8,971
Stockholders' Deficiency:	'	'
Common Stock, $0.001 par value: authorized: 800,000,000 shares at March 31, 2014 and December 31, 2013; issued: 135,894,313 shares at March 31, 2014 and December 31, 2013; outstanding: 135,760,516 shares at March 31, 2014 and December 31, 2013	136	136
Additional paid-in capital	108,495	108,424
Accumulated deficit	-124,132	-122,507
Treasury stock, at cost: 133,797 shares at March 31, 2014 and December 31, 2013	-18	-18
Total Stockholders' Deficiency	-15,422	-13,868
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIENCY	3,121	4,293
Series A Convertible Preferred Stock, liquidation preference of $1.20 per share: designated, issued and outstanding: 208,334 shares at March 31, 2014 and December 31, 2013	'	'
Stockholders' Deficiency:	'	'
Preferred Stock value	2	2
Series B Convertible Preferred Stock, liquidation preference of $2.40 per share: designated: 1,000,000 shares at March 31, 2014 and December 31, 2013; issued and outstanding: 551,725 shares at March 31, 2014 and December 31, 2013	'	'
Stockholders' Deficiency:	'	'
Preferred Stock value	6	6
Series B-1 Convertible Preferred Stock, liquidation preference of $2.40 per share: designated: 11,000,000 shares at March 31, 2014 and December 31, 2013; issued and outstanding: 8,919,854 shares at March 31, 2014 and December 31, 2013	'	'
Stockholders' Deficiency:	'	'
Preferred Stock value	$89	$89

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS [Parenthetical] (USD $)	Mar. 31, 2014	Dec. 31, 2013
Preferred stock, par value (in dollars per share)	$0.01	$0.01
Preferred stock, shares authorized	50,000,000	50,000,000
Common stock, par value (in dollars per share)	$0.00	$0.00
Common stock, shares authorized	800,000,000	800,000,000
Common stock, shares issued	135,894,313	135,894,313
Common stock, shares outstanding	135,760,516	135,760,516
Treasury stock, shares	133,797	133,797
Series A Convertible Preferred Stock, liquidation preference of $1.20 per share: designated, issued and outstanding: 208,334 shares at March 31, 2014 and December 31, 2013	'	'
Preferred stock, liquidation value per share (in dollars per share)	$1.20	$1.20
Preferred stock, shares authorized	208,334	208,334
Preferred stock, shares issued	208,334	208,334
Preferred stock, shares outstanding	208,334	208,334
Series B Convertible Preferred Stock, liquidation preference of $2.40 per share: designated: 1,000,000 shares at March 31, 2014 and December 31, 2013; issued and outstanding: 551,725 shares at March 31, 2014 and December 31, 2013	'	'
Preferred stock, liquidation value per share (in dollars per share)	$2.40	$2.40
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	551,725	551,725
Preferred stock, shares outstanding	551,725	551,725
Series C Convertible Preferred Stock [Member]	'	'
Preferred stock, par value (in dollars per share)	$0.01	$0.01
Preferred stock, liquidation value per share (in dollars per share)	$1.52	$1.52
Preferred stock, redemption price per share (in dollars per share)	$0.76	$0.76
Preferred stock, shares authorized	15,000,000	15,000,000
Preferred stock, shares issued	13,853,106	13,853,106
Preferred stock, shares outstanding	13,853,106	13,853,106
Series B-1 Convertible Preferred Stock [Member]	'	'
Preferred stock, liquidation value per share (in dollars per share)	$2.40	$2.40
Preferred stock, shares authorized	11,000,000	11,000,000
Preferred stock, shares issued	8,919,854	8,919,854
Preferred stock, shares outstanding	8,919,854	8,919,854

CONSOLIDATED_STATEMENTS_OF_OPE

CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Revenue	$202	$1,009
Cost of revenue	252	1,175
Gross loss	-50	-166
Operating Expenses:	'	'
General and administrative	841	986
Engineering, research and development	25	195
Sales and marketing	417	382
Total operating expenses	1,283	1,563
Loss from operations	-1,333	-1,729
Other (expense) income:	'	'
Derivative liability (expense) income	-245	907
Losses from equity method-joint ventures	-128	-54
Interest expense, net	-280	-189
Other income (expense)	361	-7
Total other (expense) income	-292	657
Net loss	($1,625)	($1,072)
Net loss per share, basic and diluted	($0.01)	($0.01)
Weighted average shares used in computing loss per share, basic and diluted	135,760,516	120,454,575

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Operating Activities:	'	'
Net Loss	($1,625)	($1,072)
Adjustment to reconcile net loss to net cash used in operating activities:	'	'
Stock-based compensation	71	157
Equity in losses of joint venture	128	54
Derivative liability expense (income)	245	-907
Non-cash interest added to debt	43	39
Non-cash interest added to note receivable	-3	0
Depreciation	42	58
Amortization of discount on convertible debt	22	20
Increase (decrease) in cash arising from changes in assets and liabilities:	'	'
Accounts receivable, trade	196	-601
Accounts receivable, related party	84	0
Costs in excess of billings	-6	66
Inventories	-415	5
Other current assets	-60	1,313
Accounts payable	38	-907
Customer deposits	159	0
Billings in excess of costs	-31	430
Accrued payroll and other taxes	-310	1
Accrued interest	159	134
Other current liabilities	72	-1,303
Other long-term liabilities	-15	89
Net cash used in operating activities	-1,206	-2,424
Investing Activities:	'	'
Issuance of note receivable to affiliate	0	-100
Purchases of property and equipment	-7	-76
Net cash used in investing activities	-7	-176
Financing Activities:	'	'
Proceeds from short term borrowings	0	223
Net cash provided by financing activities	0	223
Net change in cash	-1,213	-2,377
Cash, beginning of period	2,508	4,657
Cash, end of period	1,295	2,280
Supplemental schedule of non-cash financing activities:	'	'
Accrued interest added to debt	43	40
Transfer of accounts receivable - related party to notes receivable	$125	$0

Organization_and_summary_of_si

Organization and summary of significant accounting policies	3 Months Ended
	Mar. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block]	'
	Note 1: Organization and summary of significant accounting policies
	Nature of business
	ThermoEnergy Corporation (“the Company”) was incorporated in January 1988 for the purpose of developing and marketing advanced municipal and industrial wastewater treatment and carbon reducing power generation technologies.
	The Company’s wastewater treatment systems are based on its proprietary Controlled Atmosphere Separation Technology (“CAST®”) platform.  The Company’s patented and proprietary platform technology is combined with off-the-shelf technologies to provide systems that are inexpensive, easy to operate and reliable. The Company’s wastewater treatment systems have global applications in metal finishing, heavy manufacturing, hydraulic fracturing, petrochemical, refining, aerospace, food and beverage processing, pulp and paper, microchip and circuit board manufacturing and municipal wastewater. The CAST® platform technology is owned by its subsidiary, CASTion Corporation (“CASTion”).
	The Company also owns a patented pressurized oxycombustion technology that converts fossil fuels (including coal, oil and natural gas) and biomass into electricity while producing near zero air emissions and removing and capturing carbon dioxide in liquid form for sequestration or beneficial reuse. This technology is intended to be used to build new or to retrofit old fossil fuel power plants globally with near zero air emissions while capturing carbon dioxide as a liquid for ready sequestration far more economically than any other competing technology. The pressurized oxycombustion  technology is held in the Company’s subsidiary, ThermoEnergy Power Systems, LLC (“TEPS”).
	Principles of consolidation and basis of presentation
	The consolidated financial statements include the accounts of the Company and its subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. Financial results for Unity Power Alliance (“UPA”) as a Joint Venture are accounted for under the equity method, as discussed in Note 3.
	Certain prior year amounts have been reclassified to conform to current year classifications.
	The accompanying unaudited interim financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 8-03 of Regulation S-X.  Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements.  In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three-month period ended March 31, 2014 are not necessarily indicative of the results that may be expected for the year ending December 31, 2014.
	The preparation of these unaudited interim consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.
	The balance sheet at December 31, 2013 has been derived from the audited financial statements at that date but does not include all of the information and footnotes required by GAAP for complete financial statements. For further information, refer to the financial statements and footnotes thereto included in the Annual Report on Form 10-K for the year ended December 31, 2013, filed on March 31, 2014, of ThermoEnergy Corporation.
	Significant Accounting Policies
	There have been no material changes to the Company’s significant accounting policies during the three months ended March 31, 2014. For a complete summary of the Company’s significant accounting policies, please refer to Note 1 to the Company’s consolidated financial statements included in Item 8 of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2013, filed on March 31, 2014.
	Recent Accounting Pronouncements
	In April 2014, the FASB issued Accounting Standards Update (ASU) No. 2014-08, “Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity”, which changes the criteria for reporting discontinued operations and requires additional disclosures about discontinued operations. ASU 2014-08 requires that an entity report as a discontinued operation only a disposal that represents a strategic shift in operations that has a major effect on its operations and financial results. ASU 2014-08 is effective for public business entities for annual periods, and interim periods within those annual periods, beginning on or after December 15, 2014. Early adoption is permitted, but only for a disposal (or classification as held for sale) that has not been reported in financial statements previously issued or made available for issuance. The ASU must be applied prospectively. The Company is currently assessing the impact of this guidance, but does not believe that it will have a material impact on the consolidated results of operations or on its financial position.

Managements_consideration_of_g

Management's consideration of going concern matters	3 Months Ended
	Mar. 31, 2014
Managements Consideration Of Going Concern Matters [Abstract]	'
Managements Consideration of Going Concern Matters [Text Block]	'
	Note 2: Management's consideration of going concern matters
	The accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America, which contemplate continuation of the Company as a going concern. However, the Company has sustained substantial losses from operations in recent years, and such losses have continued through the three-month period ended March 31, 2014.
	At March 31, 2014, the Company had cash of approximately $1.3 million, a decrease of approximately $1.2 million from December 31, 2013. The Company has incurred net losses since inception, including a net loss of approximately $1.6 million during the three-month period ended March 31, 2014 and had an accumulated deficit of approximately $124.1 million at March 31, 2014.
	Additionally, the Company’s August 2013 Bridge Notes (see Note 4) and the Roenigk 2012 Convertible Promissory Note (see Note 5) are technically in default due to the Company’s inability to repay these notes by their respective due dates. On February 28, 2014, the Company entered into a Standstill Agreement where the holders of these notes agreed not to commence enforcement, collection or similar proceedings with respect to these notes until May 1, 2014. The Company has not received a Notice of Default from any of the holders of these notes as of the date of this filing.
	In view of the matters described in the preceding paragraph, recoverability of a major portion of the recorded asset amounts shown in the accompanying balance sheet is dependent upon continued operations of the Company, which in turn is dependent upon the Company’s ability to meet its financing requirements on a continuing basis, to maintain present financing, and to succeed in its future operations. The financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or amounts and classification of liabilities that might be necessary should the Company be unable to continue in existence.
	These uncertainties raise substantial doubt about the Company's ability to continue as a going concern. The financial statements included in this Form 10-Q have been prepared on a going concern basis and as such do not include any adjustments that might result from the outcome of this uncertainty.
	Management and the Company’s Board of Directors continue to evaluate options for funding to continue operations under the Company’s existing structure. To date, efforts to secure financing from new investors have been unsuccessful, and the likelihood that funding will be available from sources outside of those who have provided financing in previous rounds is low. The Company continues to fulfill customer orders and to develop its sales pipeline to generate future growth opportunities. Additionally, the Company continues to explore further reductions in its operating costs through the elimination of certain non-essential expenses.

Joint_Ventures

Joint Ventures	3 Months Ended
	Mar. 31, 2014
Joint Venture [Abstract]	'
Joint Venture [Text Block]	'
	Note 3: Joint Ventures
	Unity Power Alliance LLC
	On March 8, 2012, the Company announced the formation of Unity Power Alliance LLC (“UPA”). UPA was formed with the intention to work with partners and stakeholders to develop and commercialize its pressurized oxycombustion technology. On July 16, 2012, Itea S.p.A. (“Itea”) acquired a 50% ownership interest in UPA.
	In September 2012, UPA was awarded a $1 million grant from the U.S. Department of Energy to help fund a project under a special DOE program to advance technologies for efficient, clean coal power and carbon capture. As part of UPA's project, in October 2012, the Company received a $900,000 subcontract order from UPA to build a bench-scale “flameless” combustion reactor under the grant using Itea’s design. As a subcontractor for this project, the Company was required by the DOE to provide a guarantee that the project would be completed in its entirety. UPA and its subcontractors received contract definitization during the first quarter of 2013 and began to receive funding. As of March 31, 2014, UPA has received funding totaling $961,000 related to this grant from the DOE. The Company did not recognize any revenues, nor did it incur any expenses related to its contract with UPA in the three-month period ended March 31, 2014. The Company recognized revenues related to its contract with UPA totaling $157,000 in the three-month period ended March 31, 2013. The Company has recorded revenues of $842,000 and expenses totaling $896,000 related to its contract with UPA since inception. The Company has accounts receivable related to this contract of approximately $20,000 and $293,000  as of March 31, 2014 and December 31, 2013, respectively.
	In October 2012, the Company and Itea entered into a Loan Agreement with UPA through which funds required to maintain the operations of the joint venture would be loaned in the form of notes receivable. The notes bear interest at the three-month LIBOR rate plus 2% per year, with interest calculated monthly and added to the balance of the notes. The Company loaned $125,000 and $100,000 to UPA during the three months ended March 31, 2014 and 2013, respectively. As of March 31, 2014 and December 31, 2013, notes receivable outstanding amount to $534,000 and $406,000, respectively, which have been decreased to $0 as of March 31, 2014 and December 31, 2014 by the Company’s share of net losses in UPA.
	In accordance with ASC 810, Consolidation, the Company determined that it holds a variable interest in UPA and that UPA is a variable-interest entity. However, the Company has concluded that it is not required to consolidate the financial statements of UPA as of and for the three-month period ended March 31, 2014. The Company reviewed the most significant activities of UPA and determined that because the Company shares the power to direct the activities of UPA with Itea, it is not the primary beneficiary of UPA. Accordingly, the financial results of UPA are accounted for under the equity method of accounting for investments. The Company decreased the value of its investment in UPA by $128,000 and $54,000 during the three months ended March 31, 2014 and 2013, respectively, to account for its share of net losses. The carrying value of the Company’s investment in the Joint Venture is $0 as of March 31, 2014 and December 31, 2013, as the Company’s share of losses incurred by UPA exceeds the Company’s investments.

Short_term_borrowings

Short term borrowings	3 Months Ended
	Mar. 31, 2014
Debt Disclosure [Abstract]	'
Short-term Debt [Text Block]	'
	Note 4: Short term borrowings
	Short term borrowings consisted of the following at March 31, 2014 and December 31, 2013 (in thousands):
		March 31,		December 31,
		2014		2013
	August 2013 Bridge Notes, 12%, due February 1, 2014	$	4,000	$	4,000
	On August 22, 2013 the Company entered into Bridge Loan Agreements with four of its principal investors pursuant to which the investors agreed to make bridge loans to the Company of $4 million in exchange for 12% Promissory Notes (the “August 2013 Bridge Notes”). The August 2013 Bridge Notes bear interest at the rate of 12% per year and were due and payable on February 1, 2014. The August 2013 Bridge Notes are secured by substantially all of the Company’s assets.
	On February 28, 2014 the Company entered into a Standstill Agreement with the holders of the August 2013 Bridge Notes and the Roenigk 2012 Convertible Promissory Note (see Note 5), where the holders of these notes agreed not to commence enforcement, collection or similar proceedings with respect to these notes until May 1, 2014. The August 2013 Bridge Notes are technically in default as of March 31, 2014 due to the Company’s inability to repay the investors by the maturity date; however, the Company has not received Notice of Default from any of the investors as of the date of this filing. The Company has accrued interest at the default rate of 18% as of February 2, 2014, the day following the maturity date of the August 2013 Bridge Notes.

Convertible_debt

Convertible debt	3 Months Ended
	Mar. 31, 2014
Debt Disclosure [Abstract]	'
Debt Disclosure [Text Block]	'
	Note 5: Convertible debt
	Unsecured convertible debt consisted of the following at March 31, 2014 and December 31, 2013 (in thousands):
		March 31,		December 31,
		2014		2013
	Roenigk 2012 Convertible Promissory Note, 8%, due March 31, 2014, less discount of $0 at December 31, 2013 and $22 at December 31, 2013	$	2,191	$	2,083
	Less: Current portion		-2,191		-2,083
		$	—	$	—
	On June 20, 2012, the Company issued a Convertible Promissory Note dated April 1, 2012 in the principal amount of $1,877,217 to the Roenigk Family Trust in exchange for a 5% Convertible Promissory Note issued on March 21, 2007 and due March 21, 2013 and a 5% Convertible Promissory Note issued on March 7, 2008 and due March 7, 2013. The Note bears interest at the rate of 8% per annum until the maturity date, March 31, 2014. The principal amount and accrued interest on the Note is convertible into shares of Common Stock at a conversion price of $0.50 per share at any time at the election of the holder. Interest on the Note is payable semi-annually. The Company may, at its discretion, defer any scheduled interest payment until the maturity date of the Note upon payment of a $5,000 deferral fee. The Company added $86,000 and $79,000 of accrued interest to the principal balance of the Note during the three months ended March 31, 2014 and 2013, respectively. The Company recognized $22,000 and $20,000 in non-cash interest expense related to the amortization of the debt discount during the three-month periods ended March 31, 2014 and 2013, respectively. The debt discount has been amortized over the term of the related convertible debt using the effective interest rate method.
	On February 28, 2014, the Company entered into a Standstill Agreement with the Roenigk Family Trust and the holders of the August 2013 Bridge Notes (see Note 4), where the holders of these notes agreed not to commence enforcement, collection or similar proceedings with respect to these notes until May 1, 2014. The Note is technically in default as of April 1, 2014 due to the Company’s inability to repay the Roenigk Family Trust by the maturity date; however, the Company has not received Notice of Default from the Roenigk Family Trust as of the date of this filing.

Equity

Equity	3 Months Ended
	Mar. 31, 2014
Stockholders' Equity Note [Abstract]	'
Stockholders' Equity Note Disclosure [Text Block]	'
	Note 6: Equity
	At March 31, 2014, approximately 425 million shares of Common Stock were reserved for future issuance under convertible debt and warrant agreements, stock option arrangements and other commitments.
	Redeemable Preferred Stock
	Shares of the Company’s Series C Convertible Redeemable Preferred Stock are convertible, at any time at the discretion of the holder, into ten shares of the Company’s Common Stock, subject to conventional weighted-average anti-dilution adjustment in the event the Company issues or is deemed to have issued shares of Common Stock at a price less than $0.076 per share.
	The Series C Convertible Redeemable Preferred Stock will be redeemable, at a price equal to $0.76 per share, plus all accrued and unpaid dividends thereon, at the election of the holders of 66-⅔% of the then-outstanding shares, in three equal annual installments on or after December 31, 2017. As of March 31, 2014 and December 31, 2013, redemption requirements of the Series C Convertible Redeemable Preferred Stock would be approximately $3,509,500 in each of the years 2017, 2018 and 2019. The Company has elected not to accrete the Series C Redeemable Convertible Preferred Stock to its redemption value over the redemption period due to the low likelihood of redemption by the holders of this series of stock.
	Because of this redemption feature, this class of preferred stock is recorded at its issuance date fair value and is classified as mezzanine equity on the Company’s Consolidated Balance Sheet at March 31, 2014 and December 31, 2013.
	Stock Options
	The following table presents option expense included in expenses in the Company’s Consolidated Statements of Operations for the three-month periods ended March 31, 2014 and 2013:
		2014			2013
	General and administrative	$	89		$	127
	Engineering, research and development		-9			16
	Sales and marketing		-9			14
	Option expense before tax		71			157
	Benefit for income tax		—			—
	Net option expense	$	71		$	157
	No options were granted during the three-month period ended March 31, 2014. The fair value of options granted during the three-month period ended March 31, 2013 was estimated at the date of grant using a Black-Scholes option pricing model with the following assumptions:
		2013
	Risk-free interest rate		1.01	%
	Expected option life (years)		6.25
	Expected volatility		90	%
	Expected dividend rate		0	%
	The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant for periods over the expected life of the option. The expected option life represents the weighted average period of time that options granted are expected to be outstanding giving consideration to vesting schedules and the Company’s historical exercise patterns. Expected volatility is based on the historical volatility of the Company’s common stock over the expected life of the option granted.
	Option expense for the three-month periods ended March 31, 2014 and 2013 was calculated using an expected forfeiture rate of 5%.
	A summary of the Company’s stock option activity and related information for the three-month periods ended March 31, 2014 and 2013 follows:
		2014					2013
		Number of			Wtd. Avg.		Number of		Wtd. Avg.
		Shares			Exercise Price per Share		Shares		Exercise Price per Share
	Outstanding, beginning of year		31,508,077		$	0.22		24,896,678	$	0.32
	Granted		—			—		14,350,000	$	0.09
	Canceled		-150,000		$	0.34		-5,151,102	$	0.29
	Outstanding, end of period		31,358,077		$	0.22		34,095,576	$	0.32
	Exercisable, end of period		17,104,952		$	0.33		15,248,701	$	0.38
	The weighted average fair value of options granted was approximately $0.07 for the three-month period ended March 31, 2013. The weighted average fair value of options vested was approximately $109,000 and $144,000 for the three-month periods ended March 31, 2014 and 2013, respectively.
	Exercise prices for options outstanding as of March 31, 2014 ranged from $0.0468 to $1.50. The weighted average remaining contractual life of those options was approximately 7.5 years at March 31, 2014. The weighted average remaining contractual life of options vested and exercisable was approximately 6.5 years at March 31, 2014.
	As of March 31, 2014, there was approximately $468,000 of total unrecognized compensation cost related to non-vested share-based compensation arrangements granted under the Company’s stock option plans. That cost is expected to be recognized over a weighted-average period of 1.4 years. The Company recognizes stock-based compensation on the graded-vesting method.
	Warrants
	At March 31, 2014, there were outstanding warrants for the purchase of 136,881,302 shares of the Company’s Common Stock at prices ranging from $0.10 per share to $0.55 per share (weighted average exercise price was $0.15 per share). The expiration dates of these warrants are as follows:
		Number of
	Year	Warrants
	2014		781,103
	2015		296,293
	2016		20,625,815
	2017		44,570,061
	2018		69,265,530
	2019 and later		1,342,500
			136,881,302

Derivative_Liabilities

Derivative Liabilities	3 Months Ended
	Mar. 31, 2014
Derivative Liability [Abstract]	'
Derivative Liabilities [Text Block]	'
	Note 7: Derivative Liabilities
	The Company has periodically issued Common Stock and Common Stock purchase warrants with anti-dilution provisions as additional consideration with certain debt instruments. Additionally, certain debt instruments have been convertible into shares of the Company’s Series C Convertible Redeemable Preferred Stock, which are convertible into shares of the Company’s Common Stock and have anti-dilution provisions and liquidation preferences. Because these instruments contain provisions that are not indexed to the Company’s stock, the Company is required to record these as derivative instruments.
	Liabilities measured at fair value on a recurring basis as of March 31, 2014 are as follows: (in thousands)
				Fair Value Measurements at Reporting Date Using
	Description	Balance as of		Quoted Prices		Significant		Significant
		March 31, 2014		in Active		Other		Unobservable
				Markets for		Observable		Inputs
				Identical		Inputs		(Level 3)
				Assets		(Level 2)
				(Level 1)
	Derivative liabilities – long-term portion	$	431	$	-	$	-	$	431
	Total	$	431	$	-	$	-	$	431
	The Monte Carlo Simulation lattice model was used to determine the fair values at March 31, 2014. The significant assumptions used were: exercise price of $0.076; the Company’s stock price on March 31, 2014, $0.024; expected volatility of 60%; risk free interest rate of 1.32%; a remaining contract term of 48 months; and probability of financing options and effects on the Company’s capitalization.
	The following table sets forth a reconciliation of changes in the fair value of the Company’s derivative liabilities classified as Level 3 for the three-month periods ended March 31, 2014 and 2013 (in thousands):
		2014		2013
	Balance at beginning of period	$	186	$	2,234
	Change in fair value		245		-907
		$	431	$	1,327

Commitments_and_contingencies

Commitments and contingencies	3 Months Ended
	Mar. 31, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Commitments and Contingencies Disclosure [Text Block]	'
	Note 8: Commitments and contingencies
	Accrued payroll and sales taxes, which includes penalties and interest related to state taxing authorities, totaled $235,000 and $545,000 as of March 31, 2014 and December 31, 2013, respectively. The Company is actively in the process of settling the remaining tax liabilities with the various state taxing authorities and expects to finalize these settlements in the second quarter of 2014.
	The Company is involved from time to time in litigation incidental to the conduct of its business. Judgments could be rendered or settlements entered that could adversely affect the Company’s operating results or cash flows in a particular period. The Company routinely assesses all of its litigation and threatened litigation as to the probability of ultimately incurring a liability and records its best estimate of the ultimate loss in situations where it assesses the likelihood of loss as probable.

Organization_and_summary_of_si1

Organization and summary of significant accounting policies (Policies)	3 Months Ended
	Mar. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Nature of Operations [Text Block]	'
	Nature of business
	ThermoEnergy Corporation (“the Company”) was incorporated in January 1988 for the purpose of developing and marketing advanced municipal and industrial wastewater treatment and carbon reducing power generation technologies.
	The Company’s wastewater treatment systems are based on its proprietary Controlled Atmosphere Separation Technology (“CAST®”) platform.  The Company’s patented and proprietary platform technology is combined with off-the-shelf technologies to provide systems that are inexpensive, easy to operate and reliable. The Company’s wastewater treatment systems have global applications in metal finishing, heavy manufacturing, hydraulic fracturing, petrochemical, refining, aerospace, food and beverage processing, pulp and paper, microchip and circuit board manufacturing and municipal wastewater. The CAST® platform technology is owned by its subsidiary, CASTion Corporation (“CASTion”).
	The Company also owns a patented pressurized oxycombustion technology that converts fossil fuels (including coal, oil and natural gas) and biomass into electricity while producing near zero air emissions and removing and capturing carbon dioxide in liquid form for sequestration or beneficial reuse. This technology is intended to be used to build new or to retrofit old fossil fuel power plants globally with near zero air emissions while capturing carbon dioxide as a liquid for ready sequestration far more economically than any other competing technology. The pressurized oxycombustion  technology is held in the Company’s subsidiary, ThermoEnergy Power Systems, LLC (“TEPS”).
Principles Of Consolidation and Basis Of Presentation [Policy Text Block]	'
	Principles of consolidation and basis of presentation
	The consolidated financial statements include the accounts of the Company and its subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. Financial results for Unity Power Alliance (“UPA”) as a Joint Venture are accounted for under the equity method, as discussed in Note 3.
	Certain prior year amounts have been reclassified to conform to current year classifications.
	The accompanying unaudited interim financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 8-03 of Regulation S-X.  Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements.  In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three-month period ended March 31, 2014 are not necessarily indicative of the results that may be expected for the year ending December 31, 2014.
	The preparation of these unaudited interim consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.
	The balance sheet at December 31, 2013 has been derived from the audited financial statements at that date but does not include all of the information and footnotes required by GAAP for complete financial statements. For further information, refer to the financial statements and footnotes thereto included in the Annual Report on Form 10-K for the year ended December 31, 2013, filed on March 31, 2014, of ThermoEnergy Corporation.
New Accounting Pronouncements, Policy [Policy Text Block]	'
	Recent Accounting Pronouncements
	In April 2014, the FASB issued Accounting Standards Update (ASU) No. 2014-08, “Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity”, which changes the criteria for reporting discontinued operations and requires additional disclosures about discontinued operations. ASU 2014-08 requires that an entity report as a discontinued operation only a disposal that represents a strategic shift in operations that has a major effect on its operations and financial results. ASU 2014-08 is effective for public business entities for annual periods, and interim periods within those annual periods, beginning on or after December 15, 2014. Early adoption is permitted, but only for a disposal (or classification as held for sale) that has not been reported in financial statements previously issued or made available for issuance. The ASU must be applied prospectively. The Company is currently assessing the impact of this guidance, but does not believe that it will have a material impact on the consolidated results of operations or on its financial position.

Short_term_borrowings_Tables

Short term borrowings (Tables)	3 Months Ended
	Mar. 31, 2014
Debt Disclosure [Abstract]	'
Schedule of Short-term Debt [Table Text Block]	'
	Short term borrowings consisted of the following at March 31, 2014 and December 31, 2013 (in thousands):
		March 31,		December 31,
		2014		2013
	August 2013 Bridge Notes, 12%, due February 1, 2014	$	4,000	$	4,000

Convertible_debt_Tables

Convertible debt (Tables)	3 Months Ended
	Mar. 31, 2014
Debt Disclosure [Abstract]	'
Schedule of Debt Conversions [Table Text Block]	'
	Unsecured convertible debt consisted of the following at March 31, 2014 and December 31, 2013 (in thousands):
		March 31,		December 31,
		2014		2013
	Roenigk 2012 Convertible Promissory Note, 8%, due March 31, 2014, less discount of $0 at December 31, 2013 and $22 at December 31, 2013	$	2,191	$	2,083
	Less: Current portion		-2,191		-2,083
		$	—	$	—

Equity_Tables

Equity (Tables)	3 Months Ended
	Mar. 31, 2014
Stockholders' Equity Note [Abstract]	'
Option Expenses [Table Text Block]	'
	The following table presents option expense included in expenses in the Company’s Consolidated Statements of Operations for the three-month periods ended March 31, 2014 and 2013:
		2014			2013
	General and administrative	$	89		$	127
	Engineering, research and development		-9			16
	Sales and marketing		-9			14
	Option expense before tax		71			157
	Benefit for income tax		—			—
	Net option expense	$	71		$	157
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	'
	The fair value of options granted during the three-month period ended March 31, 2013 was estimated at the date of grant using a Black-Scholes option pricing model with the following assumptions:
		2013
	Risk-free interest rate		1.01	%
	Expected option life (years)		6.25
	Expected volatility		90	%
	Expected dividend rate		0	%
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	'
	A summary of the Company’s stock option activity and related information for the three-month periods ended March 31, 2014 and 2013 follows:
		2014					2013
		Number of			Wtd. Avg.		Number of		Wtd. Avg.
		Shares			Exercise Price per Share		Shares		Exercise Price per Share
	Outstanding, beginning of year		31,508,077		$	0.22		24,896,678	$	0.32
	Granted		—			—		14,350,000	$	0.09
	Canceled		-150,000		$	0.34		-5,151,102	$	0.29
	Outstanding, end of period		31,358,077		$	0.22		34,095,576	$	0.32
	Exercisable, end of period		17,104,952		$	0.33		15,248,701	$	0.38
Tabular Disclosure Related To Warrants Expiration Date [Table Text Block]	'
	The expiration dates of these warrants are as follows:
		Number of
	Year	Warrants
	2014		781,103
	2015		296,293
	2016		20,625,815
	2017		44,570,061
	2018		69,265,530
	2019 and later		1,342,500
			136,881,302

Derivative_Liabilities_Tables

Derivative Liabilities (Tables)	3 Months Ended
	Mar. 31, 2014
Derivative Liability [Abstract]	'
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	'
	Liabilities measured at fair value on a recurring basis as of March 31, 2014 are as follows: (in thousands)
				Fair Value Measurements at Reporting Date Using
	Description	Balance as of		Quoted Prices		Significant		Significant
		March 31, 2014		in Active		Other		Unobservable
				Markets for		Observable		Inputs
				Identical		Inputs		(Level 3)
				Assets		(Level 2)
				(Level 1)
	Derivative liabilities – long-term portion	$	431	$	-	$	-	$	431
	Total	$	431	$	-	$	-	$	431
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	'
	The following table sets forth a reconciliation of changes in the fair value of the Company’s derivative liabilities classified as Level 3 for the three-month periods ended March 31, 2014 and 2013 (in thousands):
		2014		2013
	Balance at beginning of period	$	186	$	2,234
	Change in fair value		245		-907
		$	431	$	1,327

Managements_consideration_of_g1

Management's consideration of going concern matters (Details Textual) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013	Dec. 31, 2012
Management's consideration of going concern matters [Line Items]	'	'	'	'
Cash and Cash Equivalents, at Carrying Value, Total	$1,295	$2,280	$2,508	$4,657
Cash and Cash Equivalents, Period Increase (Decrease), Total	-1,213	-2,377	'	'
Retained Earnings (Accumulated Deficit), Total	-124,132	'	-122,507	'
Net Income (Loss) Attributable to Parent, Total	($1,625)	($1,072)	'	'

Joint_Ventures_Details_Textual

Joint Ventures (Details Textual) (USD $)	1 Months Ended	3 Months Ended		12 Months Ended
	Jul. 31, 2012	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2012	Dec. 31, 2013
Joint Ventures [Line Items]	'	'	'	'	'
Other long term liabilities	'	$0	'	'	$15,000
Contracts Revenue	'	202,000	1,009,000	'	'
Contract Revenue Cost	'	252,000	1,175,000	'	'
Income (Loss) From Equity Method Investments	'	-128,000	-54,000	'	'
UPA [Member]	'	'	'	'	'
Joint Ventures [Line Items]	'	'	'	'	'
Interest In Joint Venture	50.00%	'	'	'	'
Revenue from Grants	'	961,000	'	1,000,000	'
Contracts Received	'	'	'	900,000	'
Other long term liabilities	'	0	'	'	0
Contracts Revenue	'	'	157,000	'	'
Payments to Acquire Notes Receivable	'	125,000	100,000	'	'
Notes Receivable, Related Parties, Current	'	534,000	'	'	406,000
Loans Receivable, Description of Variable Rate Basis	'	'three-month LIBOR rate plus 2% per year, with interest calculated monthly	'	'	'
UPA [Member] | Subcontract [Member]	'	'	'	'	'
Joint Ventures [Line Items]	'	'	'	'	'
Contracts Revenue	'	842,000	'	'	'
Contract Revenue Cost	'	896,000	'	'	'
Accounts Receivable, Net, Total	'	$20,000	'	'	$293,000

Short_term_borrowings_Details

Short term borrowings (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Short-term Debt [Line Items]	'	'
August 2013 Bridge Notes, 12%, due February 1, 2014	$4,000	$4,000

Short_term_borrowings_Details_

Short term borrowings (Details Textual) (August 2013 Bridge Notes [Member], USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014
August 2013 Bridge Notes [Member]	'
Short-term Debt [Line Items]	'
Line of Credit Facility, Maximum Borrowing Capacity	$4
Line Of Credit Facility, Interest Rate on Default	18.00%
Line of Credit Facility, Interest Rate During Period	12.00%
Debt Instrument, Maturity Date	1-Feb-14

Convertible_debt_Details

Convertible debt (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Debt Conversion [Line Items]	'	'
Convertible Debt	$2,191	$2,083
Less: Current portion	-2,191	-2,083
Convertible debt, net	$0	$0

Convertible_debt_Details_Textu

Convertible debt (Details Textual) (Roenigk 2012 Convertible Promissory Note [Member], USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013	Dec. 31, 2012	Jun. 30, 2012
Debt Conversion [Line Items]	'	'	'	'	'
Debt Instrument, Interest Rate, Stated Percentage	'	'	'	5.00%	'
Debt Instrument, Interest Rate Terms	'The Note bears interest at the rate of 8% per annum until the maturity date, March 31, 2014	'	'	'	'
Debt Instrument, Convertible, Conversion Price	'	'	$0.50	'	'
Debt Instrument, Frequency of Periodic Payment	'Interest on the Note is payable semi-annually	'	'	'	'
Debt Instrument Deferral Fees	$5,000	'	'	'	'
Additional Accrued Interest	86,000	79,000	'	'	'
Debt Instrument, Annual Principal Payment	'	'	'	'	1,877,217
Interest Expense, Total	$22,000	$20,000	'	'	'
Debt Instrument, Issuance Date	20-Jun-12	'	'	'	'
Debt Instrument, Maturity Date	31-Mar-14	'	'	'	'
Minimum [Member]	'	'	'	'	'
Debt Conversion [Line Items]	'	'	'	'	'
Debt Instrument, Interest Rate, Stated Percentage	5.00%	'	'	'	'
Maximum [Member]	'	'	'	'	'
Debt Conversion [Line Items]	'	'	'	'	'
Debt Instrument, Interest Rate, Stated Percentage	8.00%	'	'	'	'

Equity_Details

Equity (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
General and administrative	$841	$986
Engineering, research and development	25	195
Sales and marketing	417	382
Net option expense	71	157
Stock Option [Member]	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
General and administrative	89	127
Engineering, research and development	-9	16
Sales and marketing	-9	14
Option expense before tax	71	157
Benefit for income tax	0	0
Net option expense	$71	$157

Equity_Details_1

Equity (Details 1) (Black Scholes Option Pricing Model [Member])	3 Months Ended
	Mar. 31, 2013
Black Scholes Option Pricing Model [Member]	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'
Risk-free interest rate	1.01%
Expected option life (years)	'6 years 3 months
Expected volatility	90.00%
Expected dividend rate	0.00%

Equity_Details_2

Equity (Details 2) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Outstanding, beginning of year (in shares)	31,508,077	24,896,678
Granted (in shares)	0	14,350,000
Canceled (in shares)	-150,000	-5,151,102
Outstanding, end of period (in shares)	31,358,077	34,095,576
Exercisable, end of period (in shares)	17,104,952	15,248,701
Outstanding, beginning of year (in dollars per share)	$0.22	$0.32
Granted (in dollars per share)	$0	$0.09
Canceled (in dollars per share)	$0.34	$0.29
Outstanding, end of period (in dollars per share)	$0.22	$0.32
Exercisable, end of period (in dollars per share)	$0.33	$0.38

Equity_Details_3

Equity (Details 3)	Mar. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'
Number of Warrants	136,881,302
Year 2014 [Member]	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'
Number of Warrants	781,103
Year 2015 [Member]	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'
Number of Warrants	296,293
Year 2016 [Member]	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'
Number of Warrants	20,625,815
Year 2017 [Member]	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'
Number of Warrants	44,570,061
Year 2018 [Member]	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'
Number of Warrants	69,265,530
Year 2019 and later [Member]	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'
Number of Warrants	1,342,500

Equity_Details_Textual

Equity (Details Textual) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Common Stock, Capital Shares Reserved for Future Issuance	425,000,000	'
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value	'	$0.07
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value	$109,000	$144,000
Expected forfeiture rate	5.00%	5.00%
Weighted Average Price Per Share, exercisable, end of period	$0.33	$0.38
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized	468,000	'
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition	'1 year 4 months 24 days	'
Series C Convertible Redeemable Preferred Stock [Member]	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Preferred Stock, Redemption Price Per Share	$0.76	'
Convertible Preferred Stock Conversion Per Share	$0.08	'
Temporary Equity, Carrying Amount, Attributable to Parent	$3,509,500	'
Warrant [Member]	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Number Of Common Stock To Purchase Upon Warrants Acquired	136,881,302	'
Class of Warrant or Right, Exercise Price of Warrants or Rights	0.15	'
Minimum [Member]	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	'6 years 6 months	'
Class of Warrant or Right, Exercise Price of Warrants or Rights	0.1	'
Weighted Average Price Per Share, exercisable, end of period	$0.05	'
Maximum [Member]	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	'7 years 6 months	'
Class of Warrant or Right, Exercise Price of Warrants or Rights	0.55	'
Weighted Average Price Per Share, exercisable, end of period	$1.50	'

Derivative_Liabilities_Details

Derivative Liabilities (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Derivative [Line Items]	'	'
Derivative liabilities - long-term portion	$431	$186
Total	431	'
Fair Value, Inputs, Level 1 [Member]	'	'
Derivative [Line Items]	'	'
Derivative liabilities - long-term portion	0	'
Total	0	'
Fair Value, Inputs, Level 2 [Member]	'	'
Derivative [Line Items]	'	'
Derivative liabilities - long-term portion	0	'
Total	0	'
Fair Value, Inputs, Level 3 [Member]	'	'
Derivative [Line Items]	'	'
Derivative liabilities - long-term portion	431	'
Total	$431	'

Derivative_Liabilities_Details1

Derivative Liabilities (Details 1) (Fair Value, Inputs, Level 3 [Member], USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Fair Value, Inputs, Level 3 [Member]	'	'
Derivative [Line Items]	'	'
Balance at beginning of period	$186	$2,234
Change in fair value	245	-907
Balance at end of period	$431	$1,327

Derivative_Liabilities_Details2

Derivative Liabilities (Details Textual) (USD $)	3 Months Ended
	Mar. 31, 2014
Derivative [Line Items]	'
Fair Value Assumptions, Exercise Price	$0.08
Share Price	$0.02
Fair Value Assumptions, Expected Volatility Rate	60.00%
Fair Value Assumptions, Risk Free Interest Rate	1.32%
Fair Value Assumptions, Expected Term	'48 months

Commitments_and_contingencies_

Commitments and contingencies (Details Textual) (USD $)	Mar. 31, 2014	Dec. 31, 2013
Commitments and Contingencies [Line Items]	'	'
Income Tax Examination, Penalties and Interest Accrued, Total	$235,000	$545,000