XML 51 R31.htm IDEA: XBRL DOCUMENT v2.4.1.9
CONCENTRATIONS, SIGNIFICANT CUSTOMERS, COMMITMENTS AND CONTINGENCIES (Tables)
12 Months Ended
Dec. 31, 2014
Concentrations, Significant Customers, Commitments And Contingencies Disclosure [Abstract]  
Schedule of Concentrations
At December 31, 2014, 2013, and 2012 and for the years then ended, the Company’s revenues and receivables were comprised of the following customer concentrations:

 
 
2014
 
2013
 
2012
 
 
% of
Revenues
 
% of
Receivables
 
% of
Revenues
 
% of
Receivables
 
% of
Revenues
 
% of
Receivables
Customer 1
 
23%
 
7%
 
4%
 
23%
 
—%
 
—%
Customer 2
 
16%
 
16%
 
—%
 
—%
 
—%
 
—%
Customer 3
 
12%
 
10%
 
40%
 
21%
 
25%
 
54%
Customer 4
 
10%
 
10%
 
10%
 
—%
 
—%
 
—%
Customer 5
 
7%
 
9%
 
8%
 
20%
 
12%
 
15%
Customer 6
 
1%
 
—%
 
—%
 
—%
 
31%
 
—%
Customer 7
 
—%
 
—%
 
9%
 
—%
 
13%
 
—%
Schedule of Segment Revenues
At December 31, 2014, 2013, and 2012 and the years then ended, the Company's segment revenues were comprised of the following customer concentrations:

 
% of Revenue by Segment 2014
 
% of Revenue by Segment 2013
 
% of Revenue by Segment 2012
 
Black Oil
 
Refining
 
Recovery
 
Black Oil
 
Refining
 
Recovery
 
Black Oil
 
Refining
 
Recovery
Customer 1
99
%
 
%
 
1
%
 
88
%
 
12
%
 
%
 
%
 
%
 
%
Customer 2
100
%
 
%
 
%
 
%
 
%
 
%
 
%
 
%
 
%
Customer 3
11
%
 
89
%
 
%
 
31
%
 
69
%
 
%
 
36
%
 
64
%
 
%
Customer 4
%
 
100
%
 
%
 
%
 
100
%
 
%
 
%
 
%
 
%
Customer 5
%
 
100
%
 
%
 
%
 
100
%
 
%
 
%
 
100
%
 
%
Customer 6
100
%
 
%
 
%
 
%
 
%
 
%
 
%
 
100
%
 
%
Customer 7
%
 
%
 
%
 
63
%
 
37
%
 
%
 
1
%
 
99
%
 
%
Customer 8
%
 
%
 
%
 
%
 
100
%
 
%
 
%
 
100
%
 
%
The Company’s reportable segments include the Black Oil, Refining & Marketing and Recovery divisions.  Segment information for the years ended December 31, 2014 , 2013 and 2012, are as follows:

YEAR ENDED DECEMBER 31, 2014
 
 
Black Oil
 
Refining & Marketing
 
Recovery
 
Total
Revenues
 
$
170,912,949

 
$
72,695,922

 
$
15,295,996

 
$
258,904,867

Net loss from operations
 
$
(6,524,843
)
 
$
(318,107
)
 
$
(3,651,671
)
 
$
(10,494,621
)
Total Assets
 
$
122,691,362

 
$
4,471,858

 
$
6,659,011

 
$
133,822,231

 
 
 
 
 
 
 
 
 
YEAR ENDED DECEMBER 31, 2013
 
 
Black Oil
 
Refining & Marketing
 
Recovery
 
Total
Revenues
 
$
89,120,218

 
$
55,729,434

 
$
17,117,600

 
$
161,967,252

Net income from operations
 
$
1,057,254

 
$
3,044,773

 
$
2,949,176

 
$
7,051,203

Total Assets
 
$
48,172,680

 
$
8,817,544

 
$
7,556,132

 
$
64,546,356

 
 
 
 
 
 
 
 
 
YEAR ENDED DECEMBER 31, 2012
 
 
Black Oil
 
Refining & Marketing
 
Recovery
 
Total
Revenues
 
$
89,132,373

 
$
44,335,551

 
$
1,105,319

 
$
134,573,243

Net income (loss) from operations
 
$
(764,246
)
 
$
3,162,150

 
$
(6,654
)
 
$
2,391,250

Total Assets
 
$
44,581,361

 
$
4,254,082

 
$
266,934

 
$
49,102,377

Schedule of Operating Leases Rent Expense
Total rent expense for all operating leases for 2014, 2013, and 2012 is summarized as follows:

 
 
2014
 
2013
 
2012
Related party leases
 
$
45,000

 
$
10,500

 
$
629,904

Office leases
 
575,219

 
466,415

 
100,405

Plant Leases
 
3,142,400

 

 

Vehicle leases
 
425,026

 
375,646

 
33,012

 
 
$
4,187,645

 
$
852,561

 
$
763,321

Schedule of Future Minimum Operating Lease Commitments
Minimum future lease commitments as of December 31, 2014, are summarized as follows:  

Year ending December 31
 
Related Party
 
Office Facilities
 
Vehicles
Plant Leases
 
Total
2015
 
$
45,000

 
$
575,219

 
$
400,276

$
4,713,600

 
$
5,734,095

2016
 
60,000

 
453,154

 
454,301

4,713,600

 
5,681,055

2017
 
50,000

 
414,932

 
175,216

3,825,400

 
4,465,548

2018
 
50,000

 
312,466

 
57,710

1,132,000

 
1,552,176

2019
 

 
300,000

 


 
300,000

Thereafter
 

 
4,175,000

 


 
4,175,000

 
 
$
205,000

 
$
6,230,771

 
$
1,087,503

$
14,384,600

 
$
21,907,874