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Accrued Expenses | 12 Months Ended
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Dec. 31, 2013
Payables And Accruals [Abstract] |
Accrued Expenses | NOTE M – ACCRUED EXPENSES Accrued expenses consist of the following:
|  | 2013 |  |  | 2012 |
Compensation and bonuses |  | $ | 1,610,357 |  |  | $ | — |
Customer deposits |  |  | 22,083 |  |  |  | 82,175 |
Project proceeds payable |  |  | 1,325,122 |  |  |  | — |
Revenue participation distribution payable |  |  | — |  |  |  | 12,506,755 |
Vessel operations |  |  | 1,394,670 |  |  |  | 926,648 |
Professional services |  |  | 222,274 |  |  |  | 335,748 |
Income tax provision |  |  | 496,055 |  |  |  | — |
Other operating |  |  | 223,859 |  |  |  | 199,514 |
Total accrued expenses |  | $ | 5,294,420 |  |  | $ | 14,050,840 |
Vessel operations relates to expenditures required to operate our ships such as fuel, repair and maintenance, port fees and charter related. Professional fees are mainly attributable to legal fees and related and other professional services in support of operations. Other operating expenses contain general items related to, but not limited to marketing, insurance and the exhibit. As discussed in the Revenue Recognition and Accounts Receivable of NOTE A, the United Kingdom Government is to receive 20% of available proceeds after our reimbursement of search and recovery expenses. The Project proceeds payable represents a share of the United Kingdom Government’s 20%. See NOTE P for 2012’s Revenue participation distribution payable. See NOTE S for detail on the income tax provision.

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- Definition The entire disclosure for accounts payable and accrued liabilities at the end of the reporting period. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19 -Subparagraph a -Article 5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(a),20,24) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 20, 24 -Article 5 + Details
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