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Deep Down Receives Mooring Line System Order From Shell
Federal Court of Appeals Overturns and Affirms PTAB Decisions in Favor of Blue Calypso
"a presentation to potential investors "
Taking that out of context makes me think of the word "secondary".
Edit: After looking at LD Micro Quite possibly a pump is in the works.
Take ~that~ any way you want.
Shell Selling a Stake in Brazilian Oil Project
LONDON — Royal Dutch Shell said Wednesday that it had agreed to sell for about $1 billion a minority interest in an offshore Brazilian oil project to Qatar Petroleum International, the emirate’s vehicle for oil and gas investments abroad.
The Brazilian project, called Parque das Conchas, fits the pattern of assets that Shell and other large oil companies are looking to sell as investors demand better returns from capital spending that has soared in recent years.
Shell is raising money while not giving up control by selling 23 percent of its stake and keeping the remaining 50 percent. It will also save capital on a possible third stage of the project, a midsize oil field that began producing in 2009 and now yields 50,000 barrels per day.
They are either on layaway or on will call.
3.7m and down .04. Thank goodness they didn't announce 37m.
That's a huge statement if it came from DPDW, however the context and source would reveal a lot. Where did this come from?
Edit: From the S1.This sounds like a gutsy statement. I hope they are correct in saying that. If found to be true we really have struck oil.
It does kind of remind me of the late 90's when small start-ups put out press releases stating they had a relationship with Microsoft when in fact the only relationship they had was to run Win98 on their pc's. I certainly hope this isn't the case.
Rule of thumb; news posted after the bell is usually bad, news posted after the bell on Friday is even worse.
Deep Down, Inc. Announces Agreement To Raise $7.4 Million In Private Placement
Last update: 9/11/2013 4:30:00 PM
HOUSTON, Sept. 11, 2013 /PRNewswire via COMTEX/ -- Deep Down, Inc. (otcqx:DPDW) ("Deep Down"), an oilfield services company specializing in complex deepwater and ultra-deepwater oil production distribution system support services today announced that it has entered into definitive agreements with a number of new and existing institutional investors in connection with a private placement, pursuant to which the Company has agreed to sell an aggregate of 4.1 million shares of its common stock at $1.80 per share, for total gross proceeds of $7.4 million. The price was calculated at a slight discount to the 30-day moving average, based on the date agreed upon in mid-August.
The Company intends to use the aggregate net proceeds from the transaction primarily to reduce debt, expand the Company's production capacity and increase available working capital for future growth.
And this........................
Additionally, this financing will significantly improve our overall capital structure and liquidity in our stock by increasing our institutional ownership to over 30% and places Deep Down in a better position to upgrade to a national stock exchange in the future. I am very pleased with the quality of our investor group and our Company's position to address the rapidly growing deepwater offshore oil industry."
HOUSTON, Aug. 13, 2013 /PRNewswire via COMTEX/ -- Deep Down, Inc. (otcqx:DPDW) ("Deep Down")(the "Company"), an oilfield services company specializing in complex deepwater and ultra-deepwater oil production distribution system support services, today reported net income of $1.0 million, or $0.10 per diluted share, for the second quarter of 2013, an improvement of $0.4 million from the second quarter of 2012.
This looks like it's rolling over. I hope $1.80 holds.
For services rendered.
My question when I first saw this was, "Does he know anything about the workings of an international company? WHC appears to be 100% domestic.
$2.18 isn't that far away.
I was wondering where the next profits were going, now I know.
Deep Down Brasil
Last update: 5/2/2013 9:00:00 AM
HOUSTON, May 2, 2013 /PRNewswire via COMTEX/ -- Deep Down, Inc. (otcqx:DPDW) ("Deep Down"), an oilfield services company specializing in complex deepwater and ultra-deepwater oil production distribution system support services is pleased to announce the formation of Deep Down Brasil, Ltda., confirming our interest in supporting the dynamic offshore oil and gas industry in Brazil. Deep Down Brasil will offer the full range of innovative subsea products and services currently offered by Deep Down Inc., expanding our efforts already underway in Brazil.
Anybody else see that ugly head and shoulders?
Lotsa sellers today. Hope this isn't the larger pool of investors they were looking for.
I'm pretty sure there is a "smaller pool" now. If anyone wants to confirm this they must only contact the TA. and compare to 1 yr. ago.
"The Company noted that the purpose of the reverse split is to increase the per share trading price of its common stock in the hope of attracting a larger pool of investors. The Company also intends to upgrade its listing to the OTCQX as soon as it qualifies. Trading of the Company's common stock on a post-reverse split-adjusted basis on the OTC QB Market is to begin as of the opening of trading on July 18, 2012."
13000*20= 260,000. Seems someone has alot to sell.
You won't see a mad dash as most accounts take a few days to update. Many are locked out of trading this on the sell side.
Game on.
The only reason for DPDW to be trading this low right now is simply "trust in mgmt."
Once trust is restored (if in fact it can be) DPDW will trade at the multiples of it's peer group.
Rodman is back in the game today. Keep an eye on HDSN.
Nice to see this ticker is finally gonna have a PE.
Net Income of $2.1 million - Modified EBITDA increases $2.9 million to $5.6 million
HOUSTON, March 28, 2012 /PRNewswire via COMTEX/ -- Deep Down, Inc. (otc qb:DPDW) ("Deep Down" or the "Company"), an oilfield services company specializing in products and services for the deepwater and ultra-deepwater oil and gas industry, today reported $2.1 million of net income for 2011, an improvement of $20.0 million over the same period in 2010.
OPERATING RESULTS
For 2011, Deep Down reported net income of $2.1 million, or $0.01 income per diluted share, compared to a net loss of $17.4 million, or $0.09 loss per diluted share, in 2010.
Revenues for 2011 were $27.4 million. Excluding 2010 revenues related to Flotation, revenues decreased $4.1 million, or 13 percent, from 2010 to 2011. Gross profit for 2011 was $7.5 million, or 35 percent of revenues, excluding $5.7 million of work related to an existing intercompany agreement which was contributed by Flotation to CFT at no gross profit. Excluding 2010 gross profit related to Flotation, gross profit decreased $3.4 million, or 1 percentage point, from 2010 to 2011. The decrease in revenue and gross profit was primarily the result of lower demand and pricing constraints for our rental equipment.
Equity in earnings of Cuming Flotation Technologies LLC (CFT) joint venture was $4.4 million for 2011, an improvement of $4.6 million over 2010. CFT recognized a gain on the sale of Cuming Corp., its principal operating subsidiary, in the fourth quarter of 2011.
The Company's management evaluates its financial performance based on a non-GAAP measure, Modified EBITDA, which consists of earnings (net income or loss) available to common shareholders before net interest expense, income taxes, depreciation and amortization, and other non-cash and non-recurring charges. Modified EBITDA was $5.6 million for 2011. Modified EBITDA increased $3.1 million in 2011 compared to 2010 primarily as a result of a $4.6 million increase in equity in earnings of joint venture as previously mentioned and decreased SG&A expense of $2.0 million, partially offset by decreased gross profit before depreciation expense of $3.3 million, also as previously mentioned.
WORKING CAPITAL
The Company had working capital of $3.9 million at December 31, 2011, an increase of $2.3 million from the $1.6 million of working capital at December 31, 2010. The increase is due primarily to the receipt of a $6.4 million distribution from CFT, partially offset by 2011 capital expenditures of $2.0 million and 2011 repayments of long-term debt of $1.8 million. We believe that the distribution from CFT, in addition to cash we expect to generate from our operations, will ensure that we have adequate liquidity to meet our future operating requirements.
EXECUTIVE MANAGEMENT
Ronald E. Smith, Chief Executive Officer stated, "Our 2011 finished strong and we have been able to control costs and concentrate on project performance, which has resulted in net income. Although the first quarter 2011 was disappointing, we were able to recover during the remainder of the year and deliver on our projects and build a solid basis to start 2012. We decided to discontinue the implementation of our ERP system, which was being designed for a much larger entity and would have been too expensive to maintain. In an effort to reduce significant ongoing costs, we are streamlining our existing system. As a result of this decision, we took a one-time charge of $0.94 million. We have recently been awarded multiple large projects and are continuing to see positive market indications of increased activity in 2012. As a result, we believe we are poised for profitability in 2012 and beyond. We continue to focus on increasing the profitability of our core business by increasing margins through efficient project management and by continuing to reduce overhead costs wherever possible."
Formerly=MediQuip Holdings, Inc. until 12-06
Formerly=True Health, Inc. until 5-06. State of Incorporation Utah changed to Nevada concurrent with name change
The split occurred under another company.
Still working on Sunday. I'm impressed.
I haven't heard talk of a reverse split, but it's always possible.
They are still yours, but worthless.
http://www.southernhomemed.com/franchise.asp
Ask for an information packet, a call back to speak to a representative.
My guess is it will come Friday.....after the bell.
Just about time to load the boat for a nice doubler pop.
Watch for some nice big blocks @ .001
This could be the last chance to get out b4 this goes trip 0's
Looks like triple zero's are coming sooner than I expected.
UBSS on the bid big is the key. Watch him.
This is a pr pump and it's almost ready to turn and pop.
Nice PR. This is from psp ventures website.
http://pspventure.com/Services.html
12345 Elm Street
Anytown, AA 12345
(123) 123-4567
FAX (123) 234-5678
Market cap of 18.6m with orders just announced of 8m? Go figure. Only upside from here. Word has yet to spread.
Nice volume this early. 4m+ in less than 1 hour.
Deep Down Inc 1Q Loss/Shr 1c >DPDW
- Comparable Revenues increase 75 percent to $6.3 million
- Comparable Gross Profit increases 20 percent to $1.2 million
- Modified EBITDA increases $0.2 million