Note 5 - Prepaid Expenses and Other Current Assets

9 Months Ended

Sep. 30, 2013

Prepaid Expenses And Other Current Assets [Abstract]

Prepaid Expenses And Other Current Assets [Text Block]

Note 5.   Prepaid Expenses and Other Assets

Prepaid expenses and other assets consist of the following:

In thousands of dollars

	September 30, 2013		December 31, 2012
Deferred contract costs	$	1,831	$	4,532
Other assets, related party	$	1,791	$	1,754
Prepaid equipment purchases	$	1,351	$	-
Prepaid inventory purchases		1,039		159
Deposits		342		342
Prepaid insurance		395		258
Other prepaid expenses and current assets		70		178
Total prepaid expenses and other current assets	$	1,846	$	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. Prepaid equipment purchases relate to payments made for production equipment to be used by our Northern Altair facilities.