XML 35 R10.htm IDEA: XBRL DOCUMENT v2.4.0.6

Inventory

3 Months Ended

Mar. 31, 2012

Inventory [Abstract]

Inventory

NOTE E – INVENTORY

Our inventory consisted of the following:

		March 31, 2012				December 31, 2011
Artifacts		$	5,864,523			$	5,879,137
Packaging			152,876				159,160
Merchandise			388,141				412,865
Merchandise reserve			(380,767	)			(392,203	)
Total inventory		$	6,024,773			$	6,058,959

Of these amounts, $5,481,210 and $5,501,808 are classified as non-current as of March 31, 2012 and December 31, 2011, respectively.

If ownership rights to the recovered artifacts from the "Black Swan" project are ever secured, we will capitalize into inventory all related costs to recover and conserve these artifacts. We have capitalized costs of approximately $2.6 million related to recovery and conservation and administration that have been reserved for at 100%. If ownership rights are ever secured, these deferred costs will be allocated to inventory and the reserve eliminated. We will re-evaluate these "Black Swan" amounts subsequent to a Supreme Court decision.

X

- Details

Name:	us-gaap_InventoryDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.6)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682



Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 43

-Chapter 3

-Section A

-Paragraph 9

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.



Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 6

-Subparagraph a, b, c

-Article 5



Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6361739&loc=d3e7789-107766

+ Details

Name:	us-gaap_InventoryDisclosureTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration