Subsequent Events

12 Months Ended

Dec. 31, 2013

Subsequent Events [Abstract]

Subsequent Events

Note 16.  Subsequent Events

On February 8, 2014, we sold to a certain accredited investor 5 additional Units at a purchase price of $10,000 per Unit for aggregate gross proceeds of $50,000.  As a result, we issued to this investor a Note in the principal amount of $50,000 and 500 shares of our Series A Convertible Preferred Stock.  We used the net proceeds of the sale of the Units for general working capital.  For a detailed description of the Note and the Series A Convertible Preferred Stock, please see the discussion above under Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities ― Recent Sales of Unregistered Securities.

In February 2014, Riverbay approved and signed Change Order #2 to the water management agreement, pursuant to which we received a discounted buyout amount of $280,000 in lieu of the remaining amount of $355,000 due to date to us under the water management agreement and that the installed water valves used in the Project were now a property of Riverbay.

In the first quarter ended March 31, 2014 we repaid $150,000 of previously borrowed funds from related parties.