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Investment in partnership | 12 Months Ended
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Dec. 31, 2017
Equity Method Investments and Joint Ventures [Abstract] |
Investment in partnership | Investment in partnership On April 1, 2017, the Company entered into a partnership agreement under the name "Dene North Site Services" with Dene Sky Site Services Ltd. ("Dene Sky"). The unincorporated partnership was formed for the purpose of establishing a strategic relation with a local operator in Northern Alberta in order to expand the Company's market opportunities in the region. The Company holds a 49% undivided ownership interest in the assets, liabilities and related revenue and expenses managed through the partnership agreement. The partnership agreement specifies that the economic activity and decision-making are jointly controlled and each partner is entitled to its share of the assets, liabilities, revenue and expenses. The Company is contingently liable under the partnership agreement for its portion of the partnership’s obligations and liabilities that could arise from construction contracts, potential lawsuits, lease commitments and financing agreements. At inception of the partnership, assets and liabilities were proportionately recognized within the Company's consolidated financial statements at 49% as follows:
Assets |
Cash | $ | 1,131 |
Inventory | 29 |
Prepaid expenses | 4 |
Property, plant and equipment | 2,581 |
Total assets | $ | 3,745 |
Liabilities |
Capital lease obligation | $ | 800 |
Long-term debt | 637 |
Total liabilities | $ | 1,437 |
Total consideration paid | $ | 2,308 |
The financial data for the Company's 49% interest included in the consolidated financial statements is summarized as follows: Balance Sheet
|  | December 31, 2017 |  |  | December 31, 2016 |
Assets |  |  |  |
Current assets |  | $ | 1,868 |  |  | $ | — |
Non-current assets |  | 2,275 |  |  | — |
Total assets |  | $ | 4,143 |  |  | $ | — |
Liabilities |  |  |  |
Current liabilities |  | $ | 1,094 |  |  | $ | — |
Long-term liabilities |  | 1,141 |  |  | — |
Total liabilities |  | $ | 2,235 |  |  | $ | — |
Net Assets |  | $ | 1,908 |  |  | $ | — |
As at December 31, 2017, the Company had issued a loan to Dene North Site Services in the amount of $1,900, which is included in the above current liabilities at 49%. Upon consolidation, the net receivable amount is included in other assets (note 10(a)). Statement of Operations and Comprehensive Loss
Year ended December 31, |  | 2017 |  |  | 2016 |
Revenues |  | $ | 4,310 |  |  | $ | — |
Gross profit (i) |  | 3,908 |  |  | — |
Loss before taxes |  | (401 | ) |  | — |
Net loss and comprehensive loss(ii) |  | (401 | ) |  | — |
(i) Gross profit is defined as revenue less: project costs; equipment costs; and depreciation. (ii) For income tax purposes, all income attributed to the partnership agreement is allocated to the partners pro-rata in accordance with their respective interest.

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- References No definition available. + Details
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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -URI http://asc.fasb.org/topic&trid=2196965 + Details
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