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LOL. So was I.
Good stocks don't need pumpers. I realy get tired of the stock boards. Even the ones I own. So I hang out here. LOL
Go Fat Cats!
Weeeeeeeeeeeeeeeeeeeee
Nice!
Excuse me. You were right.
You mispelled SCAM.
LMAO
I'll wait For MAKO.
NITE .75
dak77 it will pop whether it is tomorrow or next month. I sure don't want to be out when it does pop. GLTU
nice buy.
What the heel is wrong with that? Do you not want the ask to go up?
Did you tell him that he's number 1?
GO Rob!
Come on serf lighten up. I made a little money on a POS today.
Denny's for now. Too da moon later. Do they have Moon Pies at Denny's?
DPDW
LMAO!!!
Nice close.
Yes I am. Good luck in STSM.
DPDW HOD .89
nice buy 6k @ .83
How's that cargo?
Q2 should be out by next Monday for TMEN. Am I right?
lol they won't let go of that 64 cents either.
only 6400 @.8199
Nice call on this one.
Spread tightning 80/83
News for 'DPDW' - (Deep Down Reduces Indebtedness by $3,400,000)
HOUSTON, Aug 14, 2007 /PRNewswire-FirstCall via COMTEX/ -- Deep Down, Inc. (OTC
Bulletin Board: DPDW) today announced that it has redeemed 4,000 shares
($4,000,000 aggregate face value) of Series E Redeemable Exchangeable Preferred
Stock for $2,000,000.
The Preferred Stock had a face value and liquidation preference of $1,000 per
share, no dividend preference, and was exchangeable at the holder's option after
June 30, 2007, into 6% subordinated notes due three years from the date of
exchange. The Company has paid the holder $1,400,000 in cash for 2,800 shares
($2,800,000 aggregate face value) of Preferred Stock and agreed to pay 30 equal
monthly installments of $20,000, or a total of $600,000, for the remaining 1,200
shares ($1,200,000 aggregate face value) of Preferred Stock.
"With this Preferred Stock transaction, we have reduced indebtedness by
$3,400,000 with the use of $1,400,000 in cash today and a monthly installment
plan that aggregates to $600,000 in cash over 30 months. We believe the use of
12.5% current coupon, 3% PIK debt to retire a $4,000,000 obligation at 50% of
its face value (or $2,000,000) is an excellent use of funds," commented Robert
E. Chamberlain, Jr., Deep Down's chairman.
"If you credit the $2,000,000 in savings from the redemption of the Preferred
Stock against total expected interest costs of approximately $3,476,098 over the
life of our $6,000,000 financing from Prospect Capital Corporation, our net
effective cash cost of the borrowing from Prospect is reduced significantly.
This use of proceeds was contemplated in our recent financing and further
reinforces our commitment to strengthening our balance sheet, improving
liquidity, and enhancing shareholder value."
About Deep Down, Inc.
Deep Down specializes in the provision of innovative solutions, installation
management, engineering services, support services, custom fabrication, and
storage management services for the offshore subsea control, umbilical, and
pipeline industries. The company fabricates component parts of subsea
distribution systems and assemblies that specialize in the development of subsea
fields and tie backs. These items include umbilicals, flow lines, distribution
systems, pipeline terminations, controls, winches, and launch and retrieval
systems, among others. Deep Down provides these services from the initial field
conception phase, through manufacturing, site integration testing, installation,
topside connections, and the final commissioning of a project. The Company's
ElectroWave subsidiary offers products and services in the fields of electronic
monitoring and control systems for the energy, military, and commercial business
sectors. ElectroWave designs, manufactures, installs, and commissions integrated
PLC and SCADA based instrumentation and control systems, including ballast
control and monitoring, drilling instrumentation, vessel management systems,
marine advisory systems, machinery plant control and monitoring systems, and
closed circuit television systems.
The Company's strategy is to consolidate service providers to the offshore
industry, as well as designers and manufacturers of subsea, surface, and
offshore rig equipment used by major, independent, and foreign national oil and
gas companies in deep-water exploration and production of oil and gas throughout
the world. Deep Down's customers include BP Petroleum, Royal Dutch Shell, Exxon
Mobil Corporation, Devon Energy Corporation, Chevron Corporation, Anadarko
Petroleum Corporation, Marathon Oil Corporation, Kerr-McGee Corporation, Nexen
Inc., BHP, Amerada Hess, Helix, Oceaneering International, Inc., Subsea 7, Inc.,
Transocean Offshore, Diamond Offshore, Marinette Marine Corporation, Acergy,
Veolia Environmental Services, Noble Energy Inc., Aker Kvaerner, Cameron, Oil
States, Dril-Quip, Inc., Nexans, Cabett, JDR, and Duco, among others. For
further company information, please visit http://www.deepdowninc.com and
http://www.electrowaveusa.com.
One of our most important responsibilities is to communicate with shareholders
in an open and direct manner. Comments are based on current management
expectations, and are considered "forward-looking statements," generally
preceded by words such as "plans," "expects," "believes," "anticipates," or
"intends." We cannot promise future returns. Our statements reflect our best
judgment at the time they are issued, and we disclaim any obligation to update
or alter forward-looking statements as the result of new information or future
events. Deep Down urges investors to review the risks and uncertainties
contained within its filings with the Securities and Exchange Commission.
SOURCE Deep Down, Inc.
CONTACT: Steven Haag, Investor Relations of Deep Down, Inc., +1-281-862-2201, fax,
+1-281-862-2522, ir@deepdowninc.com
Like the little train that could.
UP .10 now!
Never see 40's again. If I am wrong you better back the big truck up to the dock.
IPII like Wallmart today? Falling prices. I believe they sell building material.
LOL all I have is a little air.
Do they sell MOOON PIES on Mars?
TOVC up 1.05
I like thes part.
Ron Smith, Deep Down's president commented, "This is a milestone event for the shareholders of this Company and I could not be more excited about our new relationship with Prospect. I expect this agreement to significantly enhance our growth abilities and accelerate shareholder value."
I agree with you jchawk but what ever the bottom tomorrow is I will be adding. This could be the stock of the year.
I agree. The deep pockets are waiting for any oppertunity to get cheep shares. Look at the past few weeks. Every dip we have they buy 5k 10k 20k even 25k shares at one time. These are orders that NITE and the other MM's have orders from the smart investors. Why do you think NITE and the others try to take DPDW down at times? To fill orders? DAH! OK so I just wait until they play the game and I add also. I hope there is a panic tomorrow and this goes back to the .40's. Who's shares will I be buying?