XML 33 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Balance Sheets (USD $)
Sep. 30, 2013
Dec. 31, 2012
Current Assets:    
Cash and cash equivalents $ 2,006,833 $ 4,664,596
Prepaid and other current assets 466,970 708,228
Total Current Assets 2,473,803 5,372,824
Property, plant and equipment, at cost:    
Property, plant and equipment 108,862,877 109,033,002
Less accumulated depreciation, depletion and impairment (65,544,841) (65,318,921)
Net property, plant and equipment 43,318,036 43,714,081
Certificates of deposit, restricted 4,010,850 9,491,865
Total Assets 49,802,689 58,578,770
Current Liabilities:    
Accounts payable 397,479 1,331,888
Accrued liabilities 1,840,951 1,525,726
Note payable   5,000,000
Current portion of asset retirement obligations 502,472 1,160,378
Current portion of capital leases 19,861 112,140
Total Current Liabilities 2,760,763 9,130,132
Asset retirement obligations 3,602,252 3,337,679
Long-term debt 950,000 950,000
Long-term capital leases, less current portion 6,688 17,582
Total Liabilities 7,319,703 13,435,393
Shareholders' Equity:    
Common stock, 200,000,000 shares authorized, $.001 par value; 20,100,258 and 16,150,163 shares issued and outstanding, respectively 20,104 16,154
Paid-in capital 216,620,650 207,338,549
Accumulated deficit (174,148,350) (162,201,908)
Less: Treasury stock (3,813 shares), at cost (9,418) (9,418)
Total Shareholders' Equity 42,482,986 45,143,377
Total Liabilities and Shareholders' Equity $ 49,802,689 $ 58,578,770