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7. EQUITY METHOD INVESTMENTS (Tables) | 6 Months Ended
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Jun. 30, 2013
Equity Method Investments Tables |
Condor Energy Technology, LLC |
|  | June 30, |  |  | December 31, |
|  | 2013 |  |  | 2012 |
Beginning balance |  | $ | 160,353 |  |  | $ | 588,453 |
Contributions |  |  | - |  |  |  | - |
Equity in net loss at 20% |  |  | (160,353 | ) |  |  | (428,100 | )
Ending balance |  | $ | -0- |  |  | $ | 160,353 |
Condors financial information | Summarized income statement information of Condor follows:
|  | Six months ended June 30, 2013 |  |  | Six months ended June 30, 2012 |
Revenues |  | $ | 1,967,865 |  |  | $ | - |
Net loss from operations |  | $ | (1,439,030 | ) |  | $ | (281,666 | )
Net loss |  | $ | (1,817,291 | ) |  | $ | (329,606 | )
White Hawk Petroleum, LLC |
|  | June 30, 2013 |
Beginning balance, December 31, 2012 |  | $ | 1,937,981 |
Equity in net loss at 50% |  |  | (4,161 | )
Ending balance, June 30, 2013 |  | $ | 1,933,820 |

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