Note 5 - Prepaid Expenses and Other Current Assets

9 Months Ended

Sep. 30, 2012

Prepaid Expenses And Other Current Assets [Text Block]

Note 5.  Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consist of the following:

In thousands of dollars

	September 30, 2012		December 31, 2011
Deferred contract costs	$	3,330	$	678
Other assets, related party	$	1,700	$	-
Prepaid inventory purchases	$	12	$	801
Prepaid insurance		369		259
Deposits		341		341
Other prepaid expenses and current assets		175		161
Total prepaid expenses and other current assets	$	897	$	1,562

Other prepaid expenses and current assets consist primarily of prepaid property taxes, service contracts, marketing expenses and rent. Other assets, related party, relates to a payment made to Yintong Energy (YTE) (an affiliate of Canon) as the Company will be working with YTE to supply the initial order of fifty electric buses by Wu’an China.