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Deferred Income and Revenue Participation Rights (Tables) | 3 Months Ended
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Mar. 31, 2015
Deferred Revenue Disclosure [Abstract] |
Participating Revenue Rights | The Company’s participating revenue rights and deferred revenue consisted of the following at March 31, 2015 and December 31, 2014:
|  | March 31, 2015 |  |  | December 31, 2014 |
“Cambridge” project |  | $ | 825,000 |  |  | $ | 825,000 |
“Seattle” project |  |  | 62,500 |  |  |  | 62,500 |
Galt Resources, LLC (HMS Victory) |  |  | 3,756,250 |  |  |  | 3,756,250 |
Oceanica call option |  |  | 67,241 |  |  |  | — |
Total deferred income and participating revenue rights |  | $ | 4,710,991 |  |  | $ | 4,643,750 |
Subsequent Event | NOTE N – SUBSEQUENT EVENT On May 7, 2015, we amended the $10.0 million credit facility with Fifth Third Bank that we entered into in May 2014. The loan balance of the credit facility was $7.7 million on May 7, 2015. Pursuant to the amendment, (i) the maturity date of the loan was extended to December 11, 2015, (ii) on or before August 31, 2015, we are required to make a loan principal payment of not less than $1.4 million, (iii) additional principal payments may be requested by the Bank prior to the maturity date if we receive cash in excess of $1.0 million that is not related to our normal course of business operations, is not related to new funding of a specific project, or is not an amount scheduled to be received in 2015 pursuant to the Stock Purchase Agreement that we entered into in March 2015, (iv) immediate payment of the current interest due on the loan of $30,000 and bank loan amendment fees of $20,000, (v) Bank consent is required for any new loans or financing other that those included in the Purchase Agreement, and (vi) the full loan balance is immediately due to the Bank on June 9, 2015 if our stockholders do not approve the Purchase Agreement at our Annual Stockholders Meeting on June 9, 2015.

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- Definition Schedule of revenue participation rights. + References No definition available. + Details
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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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