Note 7 - Revenues

9 Months Ended

Sep. 30, 2018

Notes to Financial Statements

Revenue from Contract with Customer [Text Block]

NOTE

7

—

REVENUE

S

Our revenues are derived from contracts for the sale of coal which is recognized at the point in time control is transferred to our customer. Generally, domestic sales contracts have terms of about

one

year and the pricing is typically fixed. Export sales have spot or term contracts and pricing can either be by fixed-price or a price derived against index-based pricing mechanisms. Disaggregated information about our revenues is presented below:

	Three months ended September 30,				Nine months ended September 30,
	2018		2017		2018		2017
Coal Sales
Domestic revenues	$	35,735,697	$	7,385,983	$	95,810,176	$	15,162,938
Export revenues		26,430,041		7,018,996		87,576,767		19,616,141
Total coal sales		62,165,738		14,404,979		183,386,943		34,779,079
Coal Processing		-		-		-		2,237,674
Total revenues	$	62,165,738	$	14,404,979	$	183,386,943	$	37,016,753

As of 

September 30, 2018,

the Company has outstanding performance obligations for the remainder of 

2018

 of approximately

0.3

million tons for contracts having fixed pricing and 

0.1

million tons for contracts to export customers with index-based pricing mechanisms. Additionally, the Company has outstanding performance obligations beyond 

2018

 of approximately

1.2

million tons for contracts having fixed pricing, subject to final documentation, and 

0.3

million tons for export contracts with index-based pricing mechanisms.