13. RELATED PARTY TRANSACTIONS

12 Months Ended

Dec. 31, 2012

Related Party Transactions [Abstract]

Note 13: Related Party Transactions

We have a fabrication facility located in Cleveland, Texas on property currently owned by one of our employees (and who is not one of our “named executive officers”).  In October 2012, we reached an understanding with the owner of the property to purchase the property for aggregate consideration of $500.  The property includes 15 acres of land, and currently contains residential buildings, recreational facilities and livestock.  We plan to expand the fabrication facility in order to increase our production capacity at such location, use the residential buildings at such location to house employees and contractors for projects being conducted at the site, and otherwise use the facilities at the site for general corporate purposes (including the entertainment of clients).

Although the transaction had yet to be consummated, we took possession of the property in October 2012, and made payments toward the purchase price totaling $166 through December 31, 2012. These payments have been accounted for in our financial statements as purchase deposits. We hope to consummate the transaction within sixty days of the date of this Report. The remaining $334 of the purchase price is intended to be paid, pursuant to a term note, in $33 monthly installments from January through September 2013, with a final payment of $37 to be made in October 2013.

There were no material related party transactions during the year ended December 31, 2011.