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Related Party Transactions
12 Months Ended
Dec. 31, 2013
Related Party Transactions [Abstract]  
Related Party Transactions

Note 17 – Related Party Transactions

In November 2013, the Company sold 1,704,800 shares of its common stock in private placements to twelve purchasers for a price of $3.15 per share resulting in $5.4 million of proceeds from the sale. 246,000 shares of common stock sold in these transactions were sold to six officers and directors of the Company for the same purchase price of $3.15 per share or a total of $0.8 million.

On December 12, 2013, Harvest-Vinccler made an in-kind distribution to its shareholders of a note receivable from HNR Energia that it held. As a result, Vinccler received a $10.4 million note. HNR Energia paid $4.3 million of the amount owed on the note leaving $6.1 million outstanding as of December 31, 2013. Principal and interest are payable upon the maturity date of June 30, 2016. Interest accrues at a rate of US dollar based LIBOR plus 0.5%.