| INTANGIBLE ASSETS [Text Block] |
NOTE 7 – INTANGIBLE ASSETS
Intangible assets, at cost, are summarized by project location as follows:
| |
|
March 31, |
|
|
December 31, |
|
| |
|
2013 |
|
|
2012 |
|
| In operation: |
|
|
|
|
|
|
| San Emidio, Nevada: |
|
|
|
|
|
|
| Geothermal water and mineral rights |
$ |
4,825,220
|
|
$ |
4,825,220
|
|
| Less: accumulated amortization |
|
(827,467
|
) |
|
(765,147
|
) |
| |
|
3,997,753
|
|
|
4,060,073
|
|
| |
|
|
|
|
|
|
| Inactive: |
|
|
|
|
|
|
| Raft River, Idaho: |
|
|
|
|
|
|
| Surface water rights |
|
146,342
|
|
|
146,342
|
|
| Geothermal water and mineral rights |
|
1,251,540
|
|
|
1,251,540
|
|
| |
|
|
|
|
|
|
| Granite Creek, Nevada: |
|
|
|
|
|
|
| Surface water rights |
|
451,299
|
|
|
451,299
|
|
| |
|
|
|
|
|
|
| Neal Hot Springs, Oregon: |
|
|
|
|
|
|
| Geothermal water and mineral rights |
|
625,337
|
|
|
625,337
|
|
| |
|
|
|
|
|
|
| Guatemala City, Guatemala: |
|
|
|
|
|
|
| Geothermal water and mineral rights |
|
625,000
|
|
|
625,000
|
|
| |
|
|
|
|
|
|
| Gerlach, Nevada: |
|
|
|
|
|
|
| Geothermal water and mineral rights |
|
997,000
|
|
|
997,000
|
|
| |
|
|
|
|
|
|
| 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 |
|
(430,073
|
) |
|
(430,073
|
) |
| |
|
11,430,545
|
|
|
11,430,545
|
|
| |
|
|
|
|
|
|
| |
$ |
15,428,298
|
|
$ |
15,490,618
|
|
Amortization expense charged to plant operations during the three months ended March 31, 2013 and 2012 was $62,320
and $49,768
; respectively.
Estimated aggregate amortization expense for the next five years is as follows:
| |
|
Projected |
|
| |
|
Amounts |
|
| Years ending December 31, |
|
|
|
| 20 13 |
$ |
120,630
|
|
| 2014 |
|
160,840
|
|
| 2015 |
|
160,840
|
|
| 2016 |
|
160,840
|
|
| 2017 |
|
160,840
|
|
| |
|
|
|
| |
$ |
763,990
|
|
|