XML 31 R34.htm IDEA: XBRL DOCUMENT v2.4.0.8
Acquisitions (Details Textual) (USD $)
1 Months Ended 3 Months Ended 6 Months Ended 1 Months Ended 3 Months Ended 6 Months Ended 1 Months Ended 6 Months Ended 6 Months Ended
Sep. 25, 2012
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Mar. 31, 2013
Dec. 31, 2012
Jun. 01, 2013
John D. Oil and Gas Marketing [Member]
Underwriter
Jun. 30, 2013
John D. Oil and Gas Marketing [Member]
Jun. 30, 2013
John D. Oil and Gas Marketing [Member]
Dec. 31, 2012
Public Gas Company, Inc. [Member]
Apr. 01, 2012
Public Gas Company, Inc. [Member]
Apr. 30, 2012
Public Gas Company, Inc. [Member]
Kentucky [Member]
Dec. 31, 2012
Public Gas Company, Inc. [Member]
Kentucky [Member]
Apr. 01, 2012
Public Gas Company, Inc. [Member]
Kentucky [Member]
Customer
Jun. 30, 2013
Loring Pipeline Lease and Related Property [Member]
Jun. 04, 2012
Loring Pipeline Lease and Related Property [Member]
Jun. 30, 2013
Leased pipeline and leased pipeline easements [Member]
Jun. 30, 2013
Building [Member]
Station Street 8500 [Member]
Jun. 30, 2013
Land [Member]
Station Street 8500 [Member]
Acquisitions (Textual) [Abstract]                                        
Acquisition cost               $ 600,000                        
Number of shares issued for payment               256,926                        
Purchase consideration paid               2,641,199                        
Underwriting discounts or commissions in connection with the issuance               0                        
Number of underwriters facilitating acquisition               0                        
Contingent earn out payment period                   5 years                    
Targeted EBITDA amount for contingent earn out payments                   810,432                    
Earn out payment in case actual EBITDA remain less than target EBITDA                   0                    
Earn out payment in case actual EBITDA meets or exceeds target EBITDA                   575,000                    
Trading days used to calculate earn out payments                   20 days                    
Fair value of earn-out provision               1,475,000                        
Business combination estimated current liability for earn out payment               196,000                        
Amount allocated to goodwill   16,516,895   16,516,895   14,891,377 14,891,377 1,625,518     142,971 283,425                
Amount contributed to the company's revenues   2,645,682 1,040,354 6,217,461 2,947,448       207,524                      
Amount contributed to the company's net income   (326,916) (724,190) 4,460,807 2,558,657       30,767                      
Property, plant and equipment amounts                                     1,607,915 244,859
Public foreclosure auction amount                                 4,500,000      
Shares issued to purchase Loring Pipeline                               2,250,000        
Lease payments per year                               300,000        
Duration of lease payments                               10 years        
Annual service fee                               120,000        
Annual service fee charge                               0.0125        
Total fair value of all the assets                               605,352   6,320,000    
Discount rate of present value of the lease payments                               90.00%        
Present value of the minimum lease payment                               2,208,026        
Percentage of stock purchased                       100.00%                
Cash purchase price of pipeline and rights-of-way assets                         1,600,000              
Product delivered to number of customers                             1,600          
Costs related to the transaction                           51,187            
Goodwill adjusted                     283,425                  
Acquisitions (Additional Textual) [Abstract]                                        
Additional shares of common stock 210,951                                      
Expected goodwill to be deductible for tax purpose   $ 0   $ 0