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Note 6 - Subsequent Event
3 Months Ended
Mar. 31, 2014
Subsequent Events [Abstract]  
Subsequent Events [Text Block]

NOTE 6 – SUBSEQUENT EVENT


In 2012, the Company was named as a real party in interest in nine (9) lawsuits related to the Water Project approvals granted by the Santa Margarita Water District (“SMWD”) and the County of San Bernardino (“County”) in accordance with the California Environmental Quality Act (“CEQA”). Three of the lawsuits were subsequently dismissed or otherwise settled. The six remaining lawsuits brought by two petitioners were coordinated in Orange County Superior Court (“Court”) in 2013. The six petitions sought various forms of relief, but were primarily focused on causing a reconsideration of the environmental documents and limitation of the Water Project approvals. Administrative trial for the six cases began in December 2013 and concluded in February 2014. On May 1, 2014, the Court issued its ruling and denied all 6 petitions. The Court’s decision upheld the CEQA environmental review of the Water Project and all approvals granted by SMWD and the County. The ruling could be subject to appeal. As of the date of this filing, the Company is unable to determine whether or not the petitioners will appeal the ruling.