2.4.0.81030 - Disclosure - DISPOSITION OF FDFtruefalsefalse1false falsefalseD2013Q2YTDhttp://www.sec.gov/CIK0001475899duration2013-01-01T00:00:002013-06-30T00:00:001true 1nyte_MergerTransactionAbstractnyte_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse0DISPOSITION OF FDF2false 2nyte_MergerTransactionDisclosureTextBlocknyte_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalseterseLabel1falsefalsefalse00<div style="font-size:10.0pt;font-family:Times New Roman;"> NOTE 3.                      DISPOSITION OF FDF   On May 4, 2012, (the “Closing Date”), we entered into an agreement with a third party, FDF Resources Holdings LLC (the” Purchaser”), which resulted in the sale of 100% of the outstanding interests of FDF.  The total consideration for the sale was $62.5 million.  In accordance with the Merger Agreement, $6,250,000 of the total consideration was set aside to be held in escrow and is reported as restricted cash on the accompanying consolidated balance sheets.  The funds held in escrow are subject to distribution in accordance with terms set forth in the Merger Agreement including final closing date net working capital.   In August 2012, the Purchaser delivered a proposed final closing statement, which included, among other things, a calculation of the final closing date net working capital, to the Company.  Under the terms of the Omnibus Agreement we entered into at the Closing Date with WayPoint Nytex, LLC (“WayPoint”), Waypoint agreed to bear 87.5% of any post-closing working capital deficit and conversely, we granted to WayPoint the authority to make all decisions, including the right to dispute any item contained in the final closing date net working capital, on our behalf with regards to the proposed final closing statement and final closing date net working capital.   In November 2012, WayPoint delivered to the Purchaser a notice of disagreement disputing certain items in the proposed closing statement and calculation of the final closing date net working capital.  In January 2013, NYTEX, WayPoint, and the Purchaser agreed in principal to the final closing statement amounts, along with the calculation of the final closing date net working capital.  Part of this agreement in principal included the planned release of funds from the Escrow Fund to the Purchaser in the amount of $1,936,762 (“Net Payment to Purchaser from Escrow”).   A dispute between NYTEX and WayPoint arose with regards to the amounts due under the Omnibus Agreement to NYTEX with respect to WayPoint’s obligation to bear 87.5% of the Net Payment to Purchaser from Escrow.   Following substantial negotiations, on March 8, 2013, NYTEX and WayPoint agreed to settle this dispute such that WayPoint would pay to NYTEX $1,075,000 to satisfy its obligation under the Omnibus Agreement.  On March 14, 2013, NYTEX was paid $1,075,000 and on March 15, 2013, the Net Payment to Purchaser from Escrow was released to the Purchaser.  As the events that gave rise to both NYTEX’s settlement with WayPoint and the release from escrow of the Net Payment to Purchaser from Escrow existed as of December 31, 2012, the amount paid by WayPoint of $1,075,000 was recognized as a receivable on the accompanying consolidated balance sheet at December 31, 2012.  In addition, the amount of funds to be released from the Escrow Fund of $1,936,762 was recognized as a reserve against the restricted cash balance on the accompanying consolidated balance sheet at December 31, 2012.   </div>falsefalsefalsenonnum:textBlockItemTypenaDisclosure of merger transaction.No definition available.false0DISPOSITION OF FDFfalseDISPOSITION OF FDFUnKnownUnKnownUnKnownUnKnowntruefalsefalseSheethttp://www.nytexenergyholdings.com/role/DisclosureDispositionOfFDF12