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midnight Channelview time and the crew is still busy...
there are currently 6 workers but a few are taking a break :)
chucky, the move to a big board will likely be sooner than "a few years" and the revenue growth and segment growth support this opinion.
do not forget that we do not see the workshops where the smaller work is done via the cams. i am pretty sure the Morays are a good example of something that is built from scratch but we do not see until they are nearly finished.
the large spools they manufactured a month ago could accomodate a signifigant length of tube. DPDW definately does not manufacture tubes/umbilicals as there are companies that specialize in that.
having no knowledge of the industry before DPDW it is quite difficult to fully comprehend all of this.
"Eternal Technologies Group, Inc. (OTC BB: ETLT) Purchase Price Reduced on the Two Recent Acquisitions
On September 13, 2007 the company announced that it had acquired a 30% equity interest, respectively, in Hainan Futian Green Agriculture Co., Ltd. (“Mango Farm”) and Maoming Huatong Orchard Trading Co., Ltd. (“Lychee”).
The purchase price for these two acquisitions was based on evaluation reports which initially valued the Mango farm at RMB 231,000,000 (USD30,800,000, 1:7.5). The company agreed to pay for its 30% equity interest, 70% in cash (US$6.4 million) and issue 30% (2.97 million shares, US$0.90/share) in shares of its common stock. The initial valuation of the Lychee Farm was RMB210,000,000 (US$28,000,000). The company agreed to pay for its 30% equity interest, 70% in cash (5.8 million) and issue 30% in shares of its common stock (2.8 million, US$0.90/share).
After challenging the valuations, the transactions were renegotiated. The value was reduced to RMB158,000,000 (US$21,000,000) for the Mango farm and RMB175,000.000 (US$23,300,000) for the Lychee Farm.
For the acquisition of the 30% equity interest in the Mango farm, the company will pay 70% in cash (US$4,400,000) and 30% in its common stock (2.3 million shares, US$0.90/share). For the acquisition of the 30% equity interest in the Lychee farm, the company will pay 70% in cash (US$4,800,000) and 30% in its common stock (2.64 million shares, US$0.90/share). Both acquisitions will be accretive to earnings in 2008."
sulphur, from what i have gathered (thanks to pschobilly) a SFL is the full package and includes everything from the large real to the Moray termination.
anyone feel free to correct me.
also from DPDWs website:
"Deep Down, Inc. has developed a method to pull individual steel tubes, hoses, or electrical cables and create a loose steel tube flying lead or short umbilical. This method was utilized to build the main umbilical for the Sub sea Testing System for a length of 4,500 ft. DDI has built flying leads with up to 14 tubes. Additional lines or electrical and fiber optic cables could be added to produce any combination required.
The flying leads are then fitted with DDI’s terminations and Morays® that are attached to the MQC plate, and finished off with our elastometric bend limiters. The non-helixly wound design allows for the flying lead to be very installation friendly with minimal bending stiffness.
The compliant Moray consists of a 20 foot flexible flying lead with EH Moray to be connected to a full sized umbilical with the installation tension being applied through an armor pot and slings extending by the compliant section."
and with DRCO being a potential partner for the big board jump funding in DPDWs future, it truly is a golden relationship.
lets not forget that just because DRCO is buying does not mean that they own those shares. they are a market maker and as such can fill clients orders directly.
from all the research and observation i have done recently they have been working on a single project this weekend. its a smaller but similar LARS to this:
www.ismerlo.org/assets/images/lars_lg.jpg
the parts at DPDW should look familiar now:
pics from alien42.myjalbum.net/DPDW/index.html
the major parts are the arm - pics 5 & 6
and the reel (now attached to the end of the arm) - pics 7 & 8
the winch in pics 3 & 4 may be part of the same project but i am not sure. i would not say that DPDW is running a 3rd shift at this point but OT labor is probably available when necessary to meet a deadline.
the new large sunbelt rental compressor in the last pic showed up in the past week but has not yet been seen in action.
for the record, its almost 11 PM in Channelview and the lights are out.
there is still a crew of over half a dozen still working...
i also updated my pic page:
alien42.myjalbum.net/DPDW
its 1:45 AM in houston and there are still half dozen employees working.
bedtime for me, i wonder how late they will be there.
sabre, they are best left alone, all 4 of the paint buttons change gamma and such.
the bottom 6 buttons and the direction control are generally all you need to use.
it is almost 9 pm on a friday night and there are at least half a dozen workers still on the job.
these are exciting times my fellow DDSBS'rs. not too much longer before we say goodbye to sub-dollar land.
and with normal/light volume, odd.
flip or no flip, DPDW is arguably the most solid and safest long term holds on the OTCBB.
yeah, that red white and blue crane has been on the storage backlot and this is the first time i have seen it moved out of there and used. looks like we have 4 more 16' baskets entering final assembly, both LARS are progressing slowly, a couple of new A frames in the welding area and all kinds of goodies in the testing and assembly area.
anyone having problems accessing ameritrade?
just when the .66 wall comes down and i miss it.
i see we have several new investors today and this week. welcome aboard and consider yourself lucky to be picking up DPDW at these fundamentally undervalued levels.
in due time?
i first bought AURC over a year and a half ago and know all about this 'due time' you speak of sherlock.
your concept of DD is quite skewed. nothing but speculation and hearsay and that is all there has ever been for AURC.
lol, the pic in the ibox is priceless.
i can think of another couple of faces that would fit right in...
to bad there is no known pic of SLJBs CEO for less than a day, Shahid Khan
6-15-07 - Deep Down Achieves ISO 9001 Certification
"Deep Down's new certification now allows it to participate in projects requiring ISO certified manufacturers, including government contracts."
fwiw, DPDW has kept that job listing up for the last several months.
that reminds me of the 6-15-07 PR:
"to further enhance Deep Down's subsea engineering capabilities and meet growing demand, we have also recently hired two additional subsea engineers, with strong experience from such companies as Minerals Management Service, Stolt Offshore, Ocean Design, Inc., and Dyna Technologies, Inc.," Smith concluded."
consider yourself extremely lucky that DPDW is your first 'penny' stock.
i just checked and the Westin Galleria is completely booked for this roadshow.
"Fugro Data Solutions Limited will assist Sri Lanka's Petroleum Resources Development Secretariat (PRDS), a unit of the South Asian country's Ministry of Petroleum & Petroleum Resources Development, for the first exploration license round of offshore acreage in the Mannar Basin. The Sri Lankan Government announced the round on May 1, 2007.
Fugro has been appointed as the Consultant, providing advisory and promotional services relating to contractual and bidding requirements, data rooms and web-based services to the PRDS, to assist with the promotion of the Licensing Round in Colombo, and the organization of road show events in Houston, London and Kuala Lumpur in August and September of 2007. Fugro will be hosting an online information and data-viewing facility, as well as data rooms in Houston and London, on behalf of the PRDS."
http://www.rigzone.com/news/article.asp?a_id=45545
we already know that Fugro works with DPDW as we have seen their trucks and workers onsite at DPDW. the roadshow in Houston takes place next monday, Sept 17.
http://www.prds-srilanka.com/SriLankaBasin/content/Roadshows/roadshowsLoc.jsp
why would a 'long' not want to show proof that MCCY is legit?
FWIW
electrowaveusa.com now resolves to the same IP address as deepdowninc.com. it is likely they are just moving the ElectroWave site to the same server as the DeepDown site however I am still hoping to see an update alongside this move.
hi
my name is john and i have DDSBS
"SRI LANKA has begun its quest for oil in earnest."
http://www.dailynews.lk/2007/09/01/main_Editorial.asp
"A report published in yesterday’s Daily News said three roadshows will be held in London, Houston and Kuala Lumpur to kick off the oil exploration drive in the offshore Mannar Basin.
Exploration is slated to begin in mid-2008 as seismic surveys show that more than one billion barrels of oil can be extracted from the sea off the northwestern coast.
Although Sri Lanka has been prospecting for oil for a number of decades, this is the first time that high-tech data has been made available to the Government.
If oil drilling finally takes place, Sri Lanka can look forward to a substantial saving on its annual fuel import bill, which amounted to US$ 2.1 billion last year. The actual cost to the exchequer is much higher, when subsidies are taken into account."
http://archive.gulfnews.com/articles/07/08/31/10150257.html
"Sri Lanka to kick off first round of oil exploration in September.
Sri Lanka is moving forward with its first oil exploration round, with three roadshows planned in September to present data on three blocks in the offshore Mannar basin, the ministry said.
The Mannar basin, off the island's northwest coast, has been little explored but seismic data is encouraging, the Ministry of petroleum and petroleum resources development said on its website www.prds-srilanka.com."
both of these articles were written less than two weeks ago.
"ElectroWave USA is currently in the process of migrating our servers. Our website will be back up within 24 hours."
http://www.electrowaveusa.com/
an ElectroWave website update would be nice to see.
during the week it appears DPDW follows a pretty standard single shift but there are usually several people working into the evening and on the weekends. sometimes there are half a dozen welders, and only a couple at other times. of course its hard to really know just watching the cams since they do not cover the entire campus (especially the offices). tonight it appeared that the brass were there late as sulpher mentioned. not a lot of reasons i can think of for them to be there after hours, maybe they are working on finishing something important.
random DPDW cam pics
for those who both familiar and not familiar with the tyes of equipment DPDW builds, repairs, rents out/leases, and sells.
http://alien42.myjalbum.net/DPDW/
working past 7 on a monday, excellent
also makes one wonder what they are working on :)
they just placed a large spool in the LARS that has been on cam 3 for a few weeks.
my guess is that the LARS will now be moved back indoors for finish work.
ot: ickyy,
if you are seriously concerned about a stocks price going down then selling for a loss now would be good advice. would you rather lose 20% now or 40% later?
nuzzi, DPDW specializes in subsea work, not land based.
imo, buy now and lower your price later if necessary. DPDW is far too fundamentally undervalued not to appreciate the current discounted price. one thing everyone will agree upon is that DPDW is a successful growing company with a strong history, proven management, and an amazing client list. all this in one of the highest revenue and most profitable industries worldwide.
speaking of worldwide, might as well show a rough map of where Electrowave equipment is located:
penny_ta
i do not claim to be a TA guru but the MACD (and TRIX) history of DPDW seems to indicate an uptrend to me.
locustsuc, the problem is that you have included the numbers for MQPH, the company that went out of business and became the shell DPDW merged into.