|
CONSOLIDATED BALANCE SHEETS (USD $)
|
Mar. 31, 2013
|
Dec. 31, 2012
|
| Current: |
|
|
| Cash and cash equivalents |
$ 16,467,454 |
$ 12,908,779 |
| Restricted cash |
2,995,000 |
2,995,000 |
| Trade accounts receivable |
2,271,055 |
3,296,890 |
| Grant proceeds receivable |
40,113,741 |
42,884,200 |
| Other current assets |
827,826 |
839,104 |
| Total current assets |
62,675,076 |
62,923,973 |
| Investment in equity securities |
45,886 |
65,551 |
| Operating security deposit for Power Purchase Agreement |
1,426,700 |
1,426,700 |
| Property, plant and equipment, net of accumulated depreciation |
159,496,835 |
160,589,254 |
| Intangible assets, net of accumulated amortization |
15,428,298 |
15,490,618 |
| Total assets |
239,072,795 |
240,496,096 |
| Current Liabilities: |
|
|
| Accounts payable and accrued liabilities |
712,704 |
1,481,959 |
| Construction accounts payable |
1,521,342 |
1,122,746 |
| Related party accounts payable |
6,092 |
3,391 |
| Convertible loan payable |
2,125,000 |
0 |
| Construction loan payable |
333,334 |
1,000,000 |
| Retention payable |
5,119,939 |
8,089,704 |
| Current portion of capital lease obligations |
45,962 |
45,278 |
| Current portion of construction loans payable |
1,576,342 |
1,576,342 |
| Total current liabilities |
11,440,715 |
13,319,420 |
| Long-term Liabilities: |
|
|
| Convertible loan payable |
0 |
2,125,000 |
| Long-term portion of capital lease obligations |
57,272 |
69,039 |
| Construction loans payable, less current portion |
102,467,951 |
102,124,167 |
| Total long-term liabilities |
102,525,223 |
104,318,206 |
| Total liabilities |
113,965,938 |
117,637,626 |
| 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 March 31, 2013 and December 31, 2012 were: 101,516,764) |
101,516 |
101,516 |
| Additional paid-in capital |
99,584,212 |
99,524,850 |
| Accumulated other comprehensive loss |
(23,609) |
(3,944) |
| Accumulated deficit |
(31,456,627) |
(32,845,150) |
| Total stockholders' equity, before Non-controlling interest |
68,205,492 |
66,777,272 |
| Non-controlling interests |
56,901,365 |
56,081,198 |
| Total stockholders' equity |
125,106,857 |
122,858,470 |
| Total liabilities and stockholders' equity |
$ 239,072,795 |
$ 240,496,096 |