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Correction of Misstatements and Errors (Details 1) - USD ($)
$ in Thousands
Sep. 30, 2015
Jun. 30, 2015
Dec. 31, 2014
Sep. 30, 2014
Dec. 31, 2013
Current assets:          
Cash and cash equivalents $ 16,871   $ 15,930 $ 17,744 $ 2,866
Trade accounts receivable, net [1] 49,004   44,718    
Due from related parties [1] 31,991   28,564    
Inventories, net 39,609   28,965    
Other current assets [2] 18,746   17,946    
Total current assets 156,221   136,123    
Long term assets:          
Property, plant and equipment, net 127,693   103,980    
Long term receivables from related parties 2,536   4,220    
Other long term assets [2] 5,037   6,200    
Total long term assets 135,266   114,400    
Total assets 291,487   250,523    
Current liabilities:          
Trade accounts payable [1] 43,035   32,950    
Due to related parties [1] 1,713   1,999    
Current portion of customer advances on uncompleted contracts 6,423   5,782    
Short-term debt and current portion of long term debt 67,651   54,925    
Note payable to shareholder 79   80    
Earnout Share Liability [3] 13,657   5,075    
Other current liabilities [2] 18,344   11,932    
Total current liabilities 150,902   112,743    
Long term liabilities:          
Warrant liability 34,450 $ 31,304 19,991   18,280
Earnout Share Liability [3] 19,830   23,986    
Customer advances on uncompleted contracts 8,891   8,333    
Other Long term liabilities [2] 100   0    
Long term debt 49,113   39,273    
Total long term liabilities 112,384   91,583    
Total liabilities $ 263,286   $ 204,326    
COMMITMENTS AND CONTINGENCIES      
Shareholders' equity          
Preferred shares, $0.0001 par value, 1,000,000 shares authorized, 0 shares issued and outstanding at September 30, 2015 and December 31, 2014, respectively $ 0   $ 0    
Ordinary shares, $0.0001 par value, 100,000,000 shares authorized, 25,833,210 and 24,801,132 shares issued and outstanding at September 30, 2015 and December 31, 2014, respectively 3   2    
Legal Reserves 1,367   1,367    
Additional paid-in capital [3],[4] 38,907   26,140    
Retained earnings [3],[4] 19,043   30,119    
Accumulated other comprehensive loss (31,119)   (11,431)    
Total shareholders’ equity 28,201   46,197    
Total liabilities and shareholders’ equity 291,487   250,523    
Scenario, Previously Reported [Member]          
Current assets:          
Cash and cash equivalents 16,871   15,930 17,744 2,866
Trade accounts receivable, net [1] 49,380   44,955    
Due from related parties [1] 31,615   28,327    
Inventories, net 39,609   28,965    
Other current assets [2] 22,089   23,319    
Total current assets 159,564   141,496    
Long term assets:          
Property, plant and equipment, net 127,693   103,980    
Long term receivables from related parties 2,536   4,220    
Other long term assets [2] 5,037   6,195    
Total long term assets 135,266   114,395    
Total assets 294,830   255,891    
Current liabilities:          
Trade accounts payable [1] 43,258   33,493    
Due to related parties [1] 1,490   1,456    
Current portion of customer advances on uncompleted contracts 6,423   5,782    
Short-term debt and current portion of long term debt 67,651   54,925    
Note payable to shareholder 79   $ 80    
Earnout Share Liability [3] 0      
Other current liabilities [2] 21,787   $ 17,300    
Total current liabilities 140,688   113,036    
Long term liabilities:          
Warrant liability $ 34,450   19,991    
Earnout Share Liability [3]   0    
Customer advances on uncompleted contracts $ 8,891   $ 8,333    
Other Long term liabilities [2]      
Long term debt $ 49,113   $ 39,273    
Total long term liabilities 92,454   67,597    
Total liabilities $ 233,142   $ 180,633    
COMMITMENTS AND CONTINGENCIES      
Shareholders' equity          
Preferred shares, $0.0001 par value, 1,000,000 shares authorized, 0 shares issued and outstanding at September 30, 2015 and December 31, 2014, respectively $ 0   $ 0    
Ordinary shares, $0.0001 par value, 100,000,000 shares authorized, 25,833,210 and 24,801,132 shares issued and outstanding at September 30, 2015 and December 31, 2014, respectively 3   2    
Legal Reserves 1,367   1,367    
Additional paid-in capital [3],[4] 46,514   46,514    
Retained earnings [3],[4] 44,923   38,806    
Accumulated other comprehensive loss (31,119)   (11,431)    
Total shareholders’ equity 61,688   75,258    
Total liabilities and shareholders’ equity $ 294,830   $ 255,891    
Restatement Adjustment [Member]          
Current assets:          
Cash and cash equivalents   $ 0 $ 0
Trade accounts receivable, net [1] $ (376)   $ (237)    
Due from related parties [1] $ 376   $ 237    
Inventories, net      
Other current assets [2] $ (3,343)   $ (5,373)    
Total current assets $ (3,343)   $ (5,373)    
Long term assets:          
Property, plant and equipment, net      
Long term receivables from related parties      
Other long term assets [2]   $ 5    
Total long term assets $ 0   5    
Total assets (3,343)   (5,368)    
Current liabilities:          
Trade accounts payable [1] (223)   (543)    
Due to related parties [1] $ 223   $ 543    
Current portion of customer advances on uncompleted contracts      
Short-term debt and current portion of long term debt      
Note payable to shareholder      
Earnout Share Liability [3] $ 13,657   $ 5,075    
Other current liabilities [2] (3,443)   (5,368)    
Total current liabilities $ 10,214   $ (293)    
Long term liabilities:          
Warrant liability      
Earnout Share Liability [3] $ 19,830   $ 23,986    
Customer advances on uncompleted contracts      
Other Long term liabilities [2] $ 100      
Long term debt      
Total long term liabilities $ 19,930   $ 23,986    
Total liabilities $ 30,144   $ 23,693    
COMMITMENTS AND CONTINGENCIES      
Shareholders' equity          
Preferred shares, $0.0001 par value, 1,000,000 shares authorized, 0 shares issued and outstanding at September 30, 2015 and December 31, 2014, respectively      
Ordinary shares, $0.0001 par value, 100,000,000 shares authorized, 25,833,210 and 24,801,132 shares issued and outstanding at September 30, 2015 and December 31, 2014, respectively      
Legal Reserves      
Additional paid-in capital [3],[4] $ (7,607)   $ (20,374)    
Retained earnings [3],[4] (25,880)   (8,687)    
Accumulated other comprehensive loss 0   0    
Total shareholders’ equity (33,487)   (29,061)    
Total liabilities and shareholders’ equity $ (3,343)   $ (5,368)    
[1] Related party revenue –Certain related parties were not adequately identified as such in previous reports and are now being considered in the amounts presented on the Condensed Consolidated Balance Sheet, the Consolidated condensed statement of operations, the Statement of cash flows and the related parties footnote.
[2] Deferred tax assets and liabilities – The Company was presenting deferred tax assets and liabilities on a gross basis on the balance sheet as at December 31, 2014. Per ASC 740 – Income Taxes, for a particular tax-paying component of an entity and within a particular tax jurisdiction, all current deferred tax liabilities and assets shall be offset and presented as a single amount and all noncurrent deferred tax liabilities and assets shall be offset and presented as a single amount. The deferred tax assets and liabilities have been reclassified and presented in current and long-term assets and liabilities in the condensed consolidated balance sheets presented as of September 30, 2015 and December 31, 2014.
[3] Earnout shares - The Company entered into an Agreement and Plan of Reorganization (the “Merger Agreement”) as of August 17, 2013. Pursuant to the Merger Agreement, on the closing date of December 20, 2013, the Company issued 3,000,000 Ordinary Shares (“Earnout Shares”) to be held in escrow and to be released after the closing based on the Company’s achievement of specified share price targets or targets based on Tecnoglass Holding’s net earnings before interest income or expense, income taxes, depreciation, amortization and any expenses arising solely from the merger charged to income (“EBITDA”) in the fiscal years ending December 31, 2014, 2015 or 2016.
[4] Warrants exercises - In previously filed financial statement for the three- and nine-month periods ended September 30, 2015 and 2014, the Company had recorded the fair value of exercised warrants on the date of exercise in the condensed consolidated statement of operations and disclosed the net gain or loss on exercise as a component of the total change in the fair value of the warrant liability. The Company now records the change in fair value from the last reporting date to the date of exercise in the Company’s condensed consolidated statement of operations and records the fair value of the exercised warrants on the date of exercise as a charge to additional paid-in capital in shareholders equity. The correction resulted in changes to the financial statements for the three- and nine- month periods ended September 30, 2015 as the associated warrant exercises commenced on July 6, 2015.