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13. RELATED PARTY TRANSACTIONS
12 Months Ended
Dec. 31, 2013
Related Party Transactions [Abstract]  
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.

 

Although the transaction had yet to be consummated, we took possession of the property in October 2012, and had paid the full purchase price of $500 by December 31, 2013. 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.