3. INVENTORY

3 Months Ended

Mar. 31, 2015

Inventory Disclosure [Abstract]

INVENTORY

The components of inventory are summarized below:

	March 31, 2015		December 31, 2014
Spare parts	$	–	$	205
Reserve for obsolescence		–		(205	)
Work in progress		124		10
Finished goods		3,117		3,117
Inventory, net	$	3,241	$	3,127

The finished goods inventory balance of $3,117 consists of a 3,500 MT portable umbilical carousel which we fabricated and bought back from a customer in November 2013 and are currently holding for sale.