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NOTE 3: LIQUIDITY AND FINANCIAL CONDITION
9 Months Ended
Sep. 30, 2011
Liquidity Disclosure [Policy Text Block]
NOTE 3: LIQUIDITY AND FINANCIAL CONDITION

On October 12, 2011, we received a cash distribution of $6,375 from Cuming Flotation Technologies, LLC, a Delaware limited liability company (“CFT”) in which we own a 20 percent common unit ownership interest.  See Note 7, “Investment in Joint Venture” and Note 17, “Subsequent Events”, for further information.  We believe the receipt of this cash distribution, in addition to cash we expect to generate from operations, should ensure that we will have adequate liquidity to meet our future operating requirements.

Historically, we have supplemented the financing of our capital requirements through a combination of debt and equity transactions.  Most significant in this regard has been the credit facility we have maintained with Whitney National Bank (“Whitney”). Our loans outstanding under our existing credit agreement with Whitney become due on April 15, 2012.  We intend to negotiate an extension of the due date of our loans with Whitney.  In the event that we are unsuccessful, we believe we will have sufficient liquidity to be able to repay these loans, plus accrued interest thereon, as scheduled on April 15, 2012, primarily as a result of the previously mentioned CFT distribution.

We had a working capital deficit of $2,019 at September 30, 2011.  However, as previously discussed, we believe we will have adequate liquidity to meet our future operating requirements.