2.4.0.81080 - Disclosure - Buffalo Liabilitytruefalsefalse1false falsefalseD2014Q1http://www.sec.gov/CIK0001477032duration2013-04-01T00:00:002013-06-30T00:00:001true 1us-gaap_OtherLiabilitiesDisclosureAbstractus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse0Buffalo Liability2false 2us-gaap_OtherLiabilitiesDisclosureTextBlockus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalseterseLabel1falsefalsefalse00<div style="font-size:10.0pt;font-family:Times New Roman;"> Note 8 — Buffalo Liability   Simultaneously with the execution of the Karlsson Extension Agreement, Buffalo Management agreed to a reduction in its gross revenue interest in us from 2% to 1%. In exchange for this reduction, we agreed to compensate Buffalo by giving Buffalo either, or a combination of, at its election, (i) equity securities (that may include common stock, preferred stock or warrants for common stock as mutually agreed) equal in value to the determined fair market value of the gross revenue interest surrendered or (ii) preferred stock that is redeemable after we commence receiving revenues from the Holbrook Project for the determined fair market value plus accrued interest; provided that in no event will any equity securities or securities convertible into equity securities issued to Buffalo (x) exceed 10% of our outstanding capital stock (in the case of warrants at the time of exercise) or (y) be redeemable for aggregate consideration exceeding 10% of our equity market capitalization at the time of redemption.   To value the surrendered gross revenue interest, we engaged an independent third party valuation firm to determine the fair value of this interest.  This valuation served as a reference point for the independent director appointed by our Board to negotiate the consideration to be received by Buffalo in exchange for its 1% gross revenue interest.  The estimate of the Buffalo liability at June 30, 2013 reflects the value of the consideration that has been approved by the independent directors of the board to be exchanged with Buffalo for this 1% gross revenue interest.  Refer to Note 17 – Subsequent Events for further details.   Buffalo is controlled by Chad Brownstein, our executive vice-chairman. Barry Munitz, our board chair owns a minority, non-voting interests in Buffalo. Our board designated an independent director to finalize these negotiations with Buffalo Management, who has no personal or economic interest in Buffalo.   </div>falsefalsefalsenonnum:textBlockItemTypenaThe entire disclosure for other liabilities.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 20, 24 -Article 5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.20,24) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 false0Buffalo LiabilityfalseBuffalo LiabilityUnKnownUnKnownUnKnownUnKnowntruefalsefalseSheethttp://www.prospectgri.com/role/DisclosureBuffaloLiability12