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Ron has indicated several times that they are beginning to see more & more requests for bids on larger projects. If volume for bids on larger projects are growing, I think this justifies the decision for the PP and larger warehouse space. I don't think it makes much sense to do a PP if you receive just 1 large project as opposed to seeing the volume of big bids grow.
Here is somebody I'd like for DPDW to add to their board. With all the subsea contacts this guy has
Thanks taby. Hoping the same.
So, trying to sell at a lower price than someone is willing to buy isn't stupid. Ummm... pretty sure it is.
Understood. But if you put a ask in below the bid, pretty sure it qualities you as an idiot
Hopefully we don't see another idiot put in an ASK at < 2.50 tomorrow morning. We closed at 2.50 Tuesday and then Wednesday after the opening some retailer put in a ASK at 2.37.
I saw that. NITE had a 1k bid at 55. Looks like it went thru but no bid strength to follow. Bid is back down to 31. Not much liquidity in the spread lately.
Petrobras workers are going on strike tomorrow. Noteworthy news.
Who in the hell is selling at 2.37 when the PPS is 2.50?? Idiots.
The trend of this chart is very encouraging. Even though I don't rely much on technical chart analysis, the patern shows good support levels at consistent intervals.
Congress isn't meeting tonight to decide on the debt ceiling. Watch for a dip across the board tomorrow for some good buying opportunities. Hopefully these ivy league suites aren't dumb enough to cause a default. They always have a pre-agreed plan B contingency if all else fails.
Glad to see this hold EOD at $2.50. Nice little recovery here from the $2.20's.
Let me know if you're having an issue getting on to their website. I just started experiencing an issue 30 min to an hour ago.
It would be nice to get an update from the company on recent developments sometime before the 3Q-10Q is released.
Just felt like posting something and thought this was note worthy.
"Revenues increased $13,661, or 47.4 percent, to $42,471 for the year ended December 31, 2010 from $28,810 for the previous year. The increase in revenues was due primarily to generally higher demand for our services and products, especially in the GOM and West Africa, leading to higher utilization of our personnel, equipment and ROVs, increased equipment and tooling rentals, greater output of engineered subsea projects (including installation support services) and increased manufacture of products for deepwater and ultra-deepwater projects."
"Revenues for the year ended December 31, 2011 were $27,441. Revenues for the year ended December 31, 2010 were $42,471, and included $10,953 related to the Flotation operating segment, which was contributed to the CFT joint venture effective December 31, 2010. Excluding the 2010 revenues related to the Flotation operating segment, revenues decreased $4,077, or 13 percent, from the year ended December 31, 2010 compared to the year ended December 31, 2011. The decrease in revenues was almost entirely attributed to lower utilization of our ROV services and topside rental equipment in 2011. We enjoyed an unusually robust year in 2010 as a result of services and equipment we provided associated with the cleanup effort of the Maconda well in the Gulf of Mexico, which was required as a result of the Deepwater Horizon incident."
"Revenues for the year ended December 31, 2012 were $29,034. Revenues for the year ended December 31, 2011 were $27,441. The $1,593 increase in revenues in the 2012 period was due to an increase of $6,226 in our subsea solutions services due to continued strong demand for our technologically innovative solutions, offset by a decrease of $4,633 in our ROV and topside equipment rental services due to decreased demand."
Q2-2012- "We continue to be disappointed with the performance of our ROV and topside equipment rental business, and as a result we are exploring various options for returning this portion of our business to profitability.”
Q3-2012- "On August 27, 2012, we announced that we had consolidated the operations of our ROV and topside equipment rental business as part of our ongoing cost containment program. All of the assets and operations previously located in Morgan City, Louisiana are now operating out of our Channelview, Texas facility. We were able to reduce our total workforce by 10% and expect to recognize additional cost savings during the remainder of 2012 and beyond."
Per the S-1, current number of shares outstanding after the PP is 15,275,081. At $2.30 PPS the current market cap is $35 million. I believe the market cap prior to the PP was around $28 million. So the math would indicate the PPS to drop to around $1.90.
Deadline is November 15th. Which they'll probably release on that day.
I understand they haven't. I'm just saying it would be nice if they did.
Would be nice to get some preliminary Q3 results instead of having to wait until 11/15. If the company had an impressive Q3, I think management should give preliminary revenue and net income results in order to combat the selling.
Still watching the bid for any buying power. There's no retail interest at this moment which makes me think it could go lower. Also, I didn't see there were any sell restrictions in the private placement for those that got shares at 1.80. They could be dumping at anything greater than 1.80.
Profits report in the Q2-10Q released on 8/13 set off the initial spike from $1.95 to eventually $2.70. I think we'll see consolidation in this range until another positive event or Q3-10Q release shows positive results.
DDI just finished a project for Shell in Australia. They have a good relationship with Shell. Smells good right now.
Based on the 1 year trend of the chart, I'd expect us to dip slightly below the 50 day moving avg temporarily, then head up again. I'll be buying more around the $2.30 level.
http://stockcharts.com/h-sc/ui
Deep Down Future/Conceptual Products
Did you happen to see this page of their website... http://www.deepdowninc.com/products/future-conceptual-products
The pictures don't show up for me. I'm glad to see they're continuing to develop new products. Check out the video on their new oil skimmer design.
Ok, thanks. I'm shooting an email to the company to help clarify the restrictions on proceeds from the private placement.
I believe under sarbanes-oxley companies are required to report any/all outstanding litigation.
Not sure on that one. I'll try contacting the IR group.
The company currently does not have any outstanding litigation issues.
"ITEM 1. LEGAL PROCEEDINGS
From time to time, we are involved in legal proceedings arising in the normal course of business. As of the date of this Quarterly Report on Form 10-Q, we were not involved in any material actual or pending legal proceedings."
I'm just more patient then some people on this board. The placement was a couple weeks ago. I'm thinking where the stock price will be 3 years from now.
Assent?? The stock is up 150 percent over the past 52 weeks? Backlog is at an all time high. A company doesn't score a 10 million dollar contract out of thin air. Winning a project like that involves a lot more work behind the scenes than you would think. Customers will come in to inspect your facilities, equipment, raw materials, people, processes, ect. We're always taking our big customers thru our facilities so they can see first hand our quality control process, manufacturing, assembling, testing, ect. They just completed the private placement a few weeks ago. I'm not too worried about a 2 week or 2 month horizon.
Ok, thank you. I planned on mentioning that as the subsea industry grows, consolidation will follow. As is the case with most industries, the only way to continue to grow market share when revenues plateau is via mergers/acquisitions. I could see DDI being a prime target.
Working on another article but this one will be more general to the overall growth of the subsea industry. DPDW will be tagged along with other companies in the industry.
Anything you'd like for me to include, please let me know.
Thank you.
And yes, I agree. But before that day comes, I'm going to load up at the current PPS.
I appreciate it. Thank you
21k bid at $2.40. Needs to move up.
Ok, thank you. I'll be sure to make this adjustment if I decide to write any other articles going forward.
I appreciate that.
Yes, I wasn't exactly sure on the incorporation. I should probably post on the article's comments the "date of incorporation" and "date of public listing". Thanks for pointing this out.
Deep Down, Inc.: Under the Radar
http://seekingalpha.com/article/1708172-deep-down-inc-under-the-radar?source=feed
I submitted the article Friday but it hasn't posted on the site yet. Not exactly sure how long it takes for the editors to review and release the articles.
Article should be posted on SA soon or over the weekend.
Thanks for the article, I didn't hear about this. I'm in the midst of writing an article on DPDW for Seeking Alpha. It's not going to include anything that can't be seen in their PRs or financials. I just think the stock needs more eyes on it. It's completely under the radar. Load up down here.