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Receivable
 12 Months Ended
Dec. 31, 2011
Accounts Receivable
  
Receivable

4. Accounts receivable

 

    December 31  
    2011     2010  
Trade accounts receivable   $ 8,079,194     $ 11,956,314  
Receivable from affiliate     144,291       138,445  
Other accounts receivable     473,881       198,105  
      8,697,366       12,292,864  
Allowance for doubtful accounts     (160,134 )     (160,134 )
    $ 8,537,232     $ 12,132,730  

 

The activity for the allowance for doubtful accounts consisted of:

 

    December 31,  
    2011     2010  
Opening allowance for doubtful accounts   $ 160,134     $ 276,994  
Recovery of doubtful accounts     -       (116,860 )
Ending allowance for doubtful accounts   $ 160,134     $ 160,134  

 

Significant concentrations of credit risk are disclosed in Note 21.
Loans Receivable
  
Receivable

6. Loans receivable

 

    December 31,  
    2011     2010  
All loans receivable are due from the Water Authority-Cayman and consisted of:            
             
Two loans originally aggregating $10,996,290, bearing interest at 6.5% per annum, receivable in monthly installments of $124,827 to May 2019, and secured by the machinery and equipment of the North Side Water Works plant   $ 8,798,106     $ 9,692,895  
                 
Two loans originally aggregating $1,738,000, bearing interest at 5% per annum, receivable in monthly installments of $24,565 to March 2014, and secured by the machinery and equipment of the North Sound plant     626,070       882,544  
                 
Two loans originally aggregating $3,671,000, bearing interest at 6.5% per annum, receivable in monthly installments of $54,513 to June 2017, and secured by the machinery and equipment of the Red Gate plant     3,018,190       3,460,369  
                 
Two loans originally aggregating $897,000, bearing interest at 5% per annum, receivable in monthly installments of $12,678 to January 2013, and secured by the machinery and equipment of the Lower Valley plant     160,107       300,410  
Total loans receivable     12,602,473       14,336,218  
Less current portion     1,843,600       1,733,799  
Loans receivable, excluding current portion   $ 10,758,873     $ 12,602,419