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Deferred Revenue
 12 Months Ended
Dec. 31, 2013
Revenue Recognition [Abstract]  
Deferred Revenue

NOTE 13. DEFERRED REVENUE

Deferred revenue consisted of the following:

 

     As of  
     December 31,
2013		      December 31,
2012		  

Deferred Oil Exploration Lease Revenue

    $ 2,390,808       $ 665,499   

Prepaid Rent

      698,653         —    

Other Deferred Revenue

      254,890         185,452   
  

 

 

     

 

 

  

Total Deferred Revenue

    $ 3,344,351       $ 850,951   
  

 

 

     

 

 

  

On September 22, 2013, the Company received a $3.293 million rent payment for the third year of the Company’s eight-year oil exploration lease. The payment is being recognized ratably over the 12 month lease period ending in September 2014.