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Significant Accounting Policies (Policies)
3 Months Ended
Mar. 31, 2017
Accounting Policies [Abstract]  
Liquidity Accounting Policy Disclosure [Policy Text Block]
Liquidity
 
The Condensed Consolidated Financial Statements of the Company have been prepared using accounting principles applicable to a going concern, which assumes realization of assets and settlement of liabilities in the normal course of business. The Company incurred losses of
$7.2
million for the
three
months ended
March
31,
2017,
and
$8.8
million for the
three
months ended
March
31,
2016.
The Company had working capital of
$7.1
million at
March
31,
2017,
and used cash for its operations of
$2.6
million for the
three
months ended
March
31,
2017.
 
Cash requirements during the
three
months ended
March
31,
2017
primarily reflect certain administrative costs related to the Company’s water project development efforts. Currently, the Company’s sole focus is the development of its land and water assets.
   
On
May
1,
2017,
the Company entered into a new
$60
million credit agreement with funds affiliated with Apollo Global Management, LLC (“Apollo”) that will replace and refinance the Company’s existing
$45
million senior secured mortgage debt (“Senior Secured Debt”) and provide
$15
million of new senior debt to fund immediate construction related expenditures. The transaction is expected to close within
45
days of the signing date.
 
The Company’s Senior Secured Debt and its convertible notes contain representations, warranties and covenants that are typical for agreements of this type, including restrictions that would limit the Company’s ability to incur additional indebtedness, incur liens, pay dividends or make restricted payments, dispose of assets, make investments and merge or consolidate with another person.  However, while there are affirmative covenants, there are no financial maintenance covenants and no restrictions on the Company’s ability to issue additional common stock to fund future working capital needs.  The debt covenants associated with the loans were negotiated by the parties with a view towards the Company’s operating and financial condition as it existed at the time the agreements were executed.  At
March
31,
2017,
the Company was in compliance with its debt covenants.
 
The Company’s cash resources, together with the new cash resources to be provided by the Apollo transaction as described above, provide the Company with sufficient funds to meet its working capital needs for a period beyond
one
year from this quarterly report issuance date. The Company
may
meet working capital requirements beyond this period through a variety of means, including construction financing to be provided by the Apollo conditional commitment letter which is described below in Note
6
– Subsequent Events, equity or debt placements, through the sale or other disposition of assets or reductions in operating costs. Equity placements
may
be made using our existing shelf registration. Equity placements, if made, would be undertaken only to the extent necessary, so as to minimize the dilutive effect of any such placements upon the Company’s existing stockholders.
 
Limitations on the Company’s liquidity and ability to raise capital
may
adversely affect it. Sufficient liquidity is critical to meet the Company’s resource development activities. Although the Company currently expects its sources of capital to be sufficient to meet its near-term liquidity needs, there can be no assurance that its liquidity requirements will continue to be satisfied. If the Company cannot raise needed funds, it might be forced to make substantial reductions in its operating expenses, which could adversely affect its ability to implement its current business plan and ultimately its viability as a company.
Cash Flow Supplemental [Policy Text Block]
Supplemental Cash Flow Information
 
The Company is required to pay
50%
of all future quarterly interest payments in cash or stock on the Senior Secured Debt, rather than in accretion to principal. No other payments are due on the corporate secured debt or convertible notes prior to their maturities. During the
three
months ended
March
31,
2017,
approximately
$433
thousand in interest payments on the corporate secured debt was paid in stock. As result,
29,706
shares of common stock were issued to the lenders.
 
During the
three
months ended
March
31,
2017,
approximately
$1.5
million in convertible notes were converted by certain of the Company’s lenders. As a result,
212,476
shares of common stock were issued to the lenders.     
New Accounting Pronouncements, Policy [Policy Text Block]
Recent Accounting Pronouncements
 
Accounting Guidance Not Yet Adopted
 
 
In
May
2014,
the FASB issued an accounting standards update on revenue recognition including enhanced disclosures. Under the new standard, revenue is recognized when (or as) a good or service is transferred to the customer and the customer obtains control of the good or service. On
July
9,
2015,
the FASB approved a
one
-year deferral, updating the effective date to
January
1,
2018.
The Company is currently evaluating this new guidance, and expects this new standard will not have a material impact on the consolidated financial statements.
 
In
February
2016,
the FASB issued an accounting standards update related to lease accounting including enhanced disclosures. Under the new standard, a lease is defined as a contract, or part of a contract, that conveys the right to control the use of identified assets for a period of time in exchange for consideration. Lessees will classify leases with a term of more than
one
year as either operating or finance leases and will need to recognize a right-of-use asset and a lease liability. The liability will be equal to the present value of lease payments. The asset will be based on the liability, subject to adjustment, such as for initial direct costs. Operating leases will result in straight-line expense while finance leases will result in a front-loaded expense pattern. This guidance is effective
January
1,
2019,
but early adoption is permitted. The Company is currently evaluating this new guidance and cannot determine the impact of this standard at this time.
 
In
August
2016,
the FASB issued an accounting standards update which eliminates the diversity in practice related to the classification of certain cash receipts and payments in the statement of cash flows, by adding or clarifying guidance on
eight
specific cash flow issues. This guidance is effective for fiscal years beginning after
December
15,
2017,
and interim periods within those fiscal years, but early adoption is permitted. The Company is currently evaluating this new guidance and cannot determine the impact of this standard at this time.
 
In
January
2017,
the FASB issued an accounting standards update which eliminates Step
2
from the goodwill impairment test. Entities should perform their goodwill impairment tests by comparing the fair value of a reporting unit with its carrying amount and recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value. The amendments in this update are effective prospectively during interim and annual periods beginning after
December
15,
2019,
with early adoption permitted. The Company is currently evaluating this new guidance and cannot determine the impact of this standard at this time.
 
In
January
2017,
the FASB issued an accounting standards update which clarifies the definition of a business and provides guidance on evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. This guidance is effective for annual periods beginning after
December
15,
2017,
and interim periods within those periods, with early adoption permitted. The Company is currently evaluating this new guidance and cannot determine the impact of this standard at this time.
 
Accounting Guidance Adopted
 
In
March
2016,
the FASB issued an accounting standards update to simplify the accounting for share-based payments. Under this new guidance, the tax effects related to share based payments are recorded through the income statement. Previously, tax benefits in excess of compensation cost ("windfalls") are recorded in equity, and tax deficiencies ("shortfalls") are recorded in equity to the extent of previous windfalls, and then to the income statement.  This guidance is effective
January
1,
2017,
but early adoption is permitted. The new standard also revised reporting on the statement of cash flows.  The Company adopted this guidance on
January
1,
2017,
and the new standard did not have a material impact on the Company’s condensed consolidated financial statements.