Trade Receivables

9 Months Ended

Sep. 30, 2011

Receivables, Net, Current [Abstract]

Trade Receivables

TRADE RECEIVABLES

Accounts receivable consist of amounts generated from government contracts and sales of PV modules. Accounts receivable totaled $430,555 and $485,026 as of September 30, 2011 and December 31, 2010, respectively. All accounts receivable as of September 30, 2011 are deemed collectible.

Provisional Indirect Cost Rates—During 2010 and 2011, the Company billed the government under cost-based R&D contracts at provisional billing rates which permit the recovery of indirect costs. These rates are subject to audit on an annual basis by the government agencies’ cognizant audit agency. The cost audit will result in the negotiation and determination of the final indirect cost rates. In the opinion of management, re-determination of any cost-based contracts will not have a material effect on the Company’s financial position or results of operations.

Contract Status—The Company has authorized but not completed contracts on which work is in process as follows as of September 30, 2011 and December 31, 2010:

	As of September 30,			As of December 31,
	2011			2010
Total contract price of initial contract awards, including exercised options and approved change orders (modifications)	$	11,427,581		$	11,426,858
Completed to date	(9,942,187		)	(7,289,426		)
Authorized backlog	$	1,485,394		$	4,137,432