Balance Sheet Components
 3 Months Ended
Mar. 31, 2012
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Supplemental Balance Sheet Disclosures [Text Block]

Note 6 — Balance Sheet Components

 

Inventory

 

Inventory is valued at the lower of cost, determined on a first-in, first-out basis, or market. Inventory includes material, labor, and factory overhead required in the production of our products. The Company writes down inventories for excess and obsolete items after evaluating historical sales, future demand, market conditions and expected product life cycles to reduce inventories to their estimated net realizable value. Such provisions are made in the normal course of business and charged to cost of goods sold in the consolidated statements of operations. Inventories as of March 31, 2012 and December 31, 2011 consisted of the following (in thousands):

 

    March 31,     December 31,  
    2012     2011  
             
Raw materials   $ 910     $ 1,425  
Work-in-process     28       40  
Finished goods     22,103       14,316  
                 
Total inventory     23,041       15,781  
Less: excess and obsolete items     (260 )     (284 )
                 
Inventory, net   $ 22,781     $ 15,497  

 

Intangible Assets

 

The Company capitalizes costs to develop trademarks including attorney fees, registration fees, design costs and the costs of securing it. Trademarks are amortized over a useful life of ten years starting in 2011. The Company recognized $6,584 and nil of amortization on trademarks during the three months ending March 31, 2012 and 2011 respectively.

 

The Company capitalizes legal costs to establish new patents and amortizes them over the life of the patent. When the patents are approved and in use, amortization is commenced at that time. Patents are amortized over a useful life of twenty years or less. The Company recognized $5,936 and nil of amortization on patents during the three months ending March 31, 2012 and 2011, respectively.

 

Intangible assets as of March 31, 2012 and December 31, 2011 consisted of the following (in thousands):

 

    March 31,     December 31,  
    2012     2011  
             
Brand, trademark   $ 289     $ 289  
Patents, in service     449       173  
Patents, not in service     112       275  
                 
Total intangible assets     850       737  
Less: accumulated amortization     (41 )     (28 )
                 
Intangible assets, net   $ 809     $ 709  

 

Property and Equipment

 

Property and equipment, net are comprised of the following (in thousands):

 

    March 31,
2012		     December 31,
2011		  
             
Equipment   $ 20,257     $ 18,617  
Buildings     576       576  
Vehicles     1,558       1,558  
Furniture and fixtures     261       254  
Leasehold improvements     808       792  
Computer software     2,205       1,878  
                 
Total property and equipment     25,665       23,675  
Less: accumulated depreciation and amortization     (10,065 )     (7,045 )
                 
Property and equipment, net   $ 15,600     $ 16,630  

 

Unearned Revenue

 

Unearned revenue at March 31, 2012 and December 31, 2011 relates to the DOE EV Project and the California Energy Commission Project to support the deployment of charge infrastructure and electric vehicles in California (CEC project) as well as other projects for which invoices are generated as costs are incurred and revenue is recognized as the related services are performed, or otherwise meet the revenue recognition criteria.  The current and long term portions of unearned revenue as of March 31, 2012 and December 31, 2011consisted of the following (in thousands):

 

    March 31,
2012		     December 31,
2011		  
             
DOE Project   $ 12,339     $ 9,010  
CEC Project     1,012       1,162  
Other     1,093       1,027  
                 
Total unearned revenue   $ 14,444     $ 11,199