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Note 6 - Commitments and Contingencies
6 Months Ended
Jun. 30, 2014
Subsequent Events [Abstract]  
Subsequent Events [Text Block]

NOTE 6– COMMITMENTS AND CONTINGENCIES


Third parties in California have the ability to challenge approval of a water project. In 2012, the Company was named as a real-party-in-interest in nine lawsuits challenging the various Water Project approvals granted by Santa Margarita Water District (“SMWD”) and County of San Bernardino (“County”). In 2013, three cases were dismissed or otherwise settled. Administrative trial for the six remaining cases began in December 2013 and concluded in February 2014. During the quarter ended June 30, 2014, the trial court issued a ruling in these cases, which denied all six petitions and upheld the environmental review and approvals granted by SMWD and the County. The ruling remains 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. The petitioners have 60 days following the Court’s entry of judgment to file an appeal.


There are no other material legal proceedings pending to which the Company is a party or of which any of the Company’s property is the subject.