EFTA01366936.pdf

Amendment #4 Page 507 of 868 1am. f &rifler' I. 23 New standards, Interpretations and amendments thereof, adopted by the Conpany The au:curling Noes apped by the Conex.ny• n the preparation of Mese nterim condensed financial statements are consetent with those tipped in the preparabon of its annual Inertial staterrents fix the year ended Detente( 31, 2014 & Cash Mitch 31 December 31 2015 2014 Banks $ 3,463,366 $ 6,312 107 Petty cash 2,047 2,025 3,405,416 S 6,314,132 Restricted cash in banks f 3).(1114 S 228.323 Cash deposited n tank acoons earns interest based on daly rates cletemened by the corresponding banks Cash balance Icr US$33,886 as of March 31, 2015 (2014 US$228.323) is restricted under the firentre documents between Oros) and the Lenders (Note 81 Under the terms or its debt agreements, the Conpany has a woes of restncted bank accounts both 'on-store' In Coate Flea, and also offshore Cash receipts from operators are 'neatly deposited careen? 410 these restncted accounts arc ten based on corrraaLetty agreed provisions are allocated irto a senes of sib- accounts, restricted for specific operational arc other purposes includrg bk.t not hailed to. construction debt servce Meer maintenance. inscrance and shareholders distnbubons Except as expressly provided in those debt agreements the restricted bank accounts are under the control of a trustee and the Company has the nght to withdraw or transfer funds oniy as expressly promoted in those debt ageements 4. Account receivable 2016 2014 Gamesa Well US LLC f 8.603,000 $ — Others 12.026 17.364 $ 8,612,026 $ 17,364 The oastanchng balances de from Gamesa1A4nd US LLC correspond to trade receivables for delays in the construcbco schedule Nom 2014, Orosl negotiated a Letter Agreement with Gamesa wroth mowed Oros! to invoice US$8 603,000 for 'dewy liquidated damages' per mike 8 of the EPC, while at the wane tine agreeing to pay Gonna 52.0)0.030 assoceled with vinous change orders Orosl received the full amount of the equebted damages °keno April and May 2015. Gwen the agreement that tie Company red in place with Gamesa poor to March 31, 2015, tee Company has recorded a receivable from Gamesa for $8,800,000 as of March 31. 2015, revenue reeled to medal:My liqviclated damages of $5.689,232 representing amoyes attributable to delays though March 31, 2015, and deferred cornedf $2,910,769 related to subsequent penods to March 31, 2015. The final aqui:bled damages could reach up to apprarimattry US$9.700.000, equivalent to 10% of the EPC value, which a subject to change due to potential change orders It is now estreted that the perk will start commercial operabors Meng me thrd quarter 02015 The dates agreed with trebtuto Costanicense de Elortnciarkl (ICE) for the partial arc total star d operation are May 12 and Area Z 2015 F-187 http://cfdocs.btogo.com:27638/cf/drv7/pub/edgar/2015/07/20/0001193125-15-256461/d78... 7/20/2015 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0058464 CONFIDENTIAL SDNY_GM_00204648 EFTA01366936