Note 5 - Prepaid Expenses and Other Current Assets

3 Months Ended

Mar. 31, 2013

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

	March 31, 2013		December 31, 2012
Deferred contract costs	$	2,799	$	4,532
Other assets, related party	$	1,764	$	1,754
Prepaid inventory purchases	$	224	$	159
Prepaid insurance		152		258
Deposits		342		342
Other prepaid expenses and current assets		164		178
Total prepaid expenses and other current assets	$	882	$	937

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 to Wu’an, China. The deferred contract costs were incurred, under the completed contract method, for multiple large scale projects for which revenue has not been recognized.