![]() A power sales agreement is in place with Fulcrum Power, a Qualified Scheduling Entity (QSE) for ERCOT. Revenue Recognition Revenue, which began to be recorded during 2007, is recognized when the electricity produced is provided to the electric grid maintained by the Electric Reliability Council of Texas (ERCOT). #Bobcad v29 single line font conversion full#Operating results for the interim periods are not necessarily indicative of the results that may be expected for the respective full year. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation of financial position, results of operations and cash flows for the interim periods presented have been included. ![]() ![]() (the "Company") for the year ended December 31, 2010. These unaudited consolidated condensed financial statements should be read in conjunction with the audited financial statements and notes thereto ofīiofuels Power Corp. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to such rules and regulations. ![]() Basis of Presentation The accompanying interim unaudited consolidated condensed financial statements have been prepared without audit pursuant to the rules and regulations of the U.S. ![]()
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