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Concentrations
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3 Months Ended |
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Mar. 31, 2014
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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 March 31, 2014, investments in securities of energy infrastructure companies represented approximately 7 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, a wholly-owned TRS of the Company, 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 91 percent of our sales revenue for the three months ended March 31, 2014 as compared to 89 percent for the three months ended March 31, 2013. 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 88 percent and 91 percent of the consolidated accounts receivable balances at March 31, 2014 and December 31, 2013, 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 77 percent of our cost of sales for the three months ended March 31, 2014. This compares to 48 percent for the three months ended March 31, 2013.
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