XML 20 R8.htm IDEA: XBRL DOCUMENT v3.8.0.1
Properties and Equipment
3 Months Ended
Mar. 31, 2018
Property, Plant and Equipment [Abstract]  
Properties and Equipment

3. PROPERTIES AND EQUIPMENT

 

As of March 31, 2018, the Company did not have any assets available for sale as compared to $0.7 million of assets available for sale at December 31, 2017. The Company reclassified $0.7 million of “assets available for sale” on the consolidated balance sheet to “property and equipment, net” as of March 31, 2018. These assets are comprised of land parcels owned by the Company in Riverton, Wyoming. Management believes that it is not probable that the assets will be sold within the next 12 months and will continue to be held by the Company. The main drivers behind this belief are (1) the improved financial condition and liquidity position of the Company caused by the completion of Company initiatives and improved global commodity prices, and (2) the rural real estate market where the properties are located traditionally has unpredictable timelines in the completion of real estate transactions.