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Concentrations
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9 Months Ended |
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Sep. 30, 2013
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| Risks and Uncertainties [Abstract] | |
| CONCENTRATIONS |
CONCENTRATIONS
Prior to 2013, the Company had historically invested in securities of privately-held and publicly-traded companies in the midstream and downstream segments of the U.S. energy infrastructure sector. As of September 30, 2013, investments in securities of energy infrastructure companies represented approximately 7.79 percent of the Company’s total assets. The Company is now focused on identifying and acquiring real property assets in the U.S. energy infrastructure sector that are REIT-qualified.
Mowood, the Company’s wholly-owned subsidiary, has a ten-year contract, expiring in 2015, with the Department of Defense (“DOD”) to provide natural gas and gas distribution services to Fort Leonard Wood. Revenue related to the DOD contract accounted for 64 percent and 79 percent of our sales revenue for the three and nine months ended September 30, 2013, respectively, as compared to 69 percent and 82 percent for the three and nine months ended August 31, 2012, respectively. Mowood, through its wholly-owned subsidiary Omega, performs management and supervision services related to the expansion of the natural gas distribution system used by the DOD. The amount due from the DOD accounts for 81 percent and 84 percent of the consolidated accounts receivable balances at September 30, 2013 and November 30, 2012, respectively.
Mowood’s contracts for its supply of natural gas are concentrated among select providers. Purchases from its largest supplier of natural gas accounted for 34 percent and 32 percent, of our cost of sales for the three and nine months ended September 30, 2013, respectively. This compares to 19 percent and 13 percent for the three and nine months ended August 31, 2012, respectively.
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