Koil Energy Solutions Inc. (KLNG)

[spec machine]

The carousels already are a sore point with me

Yea the carousels will become a sore point the longer they sit but they didn't have another good option once EMAS wanted out. Litigating with a much larger company who is also a client is a lose lose situation and I probably would have done the same thing in buying it back interest free. It will sell sooner or later.

First bit of BS was Smith saying they had booked work for the Mobile carousel as far out as they could schedule. But, as far as I can tell, the phase 3 Na Kika SIT and loadout was the last time it was used. That's been quite a while for equipment to sit idle.

The second bit of BS was the "zero interest" buyback, as we now know via Q1 and latest CC, it was financed at 3.5% plus closing costs.

Today, it looks to me like zero chance of unloading the carousels via a sale or lease in Q2 despite the optimism voiced in the last 2 CCs.

The "why" of the buyback seemed a bit sketchy to me. The long rambling story in response to Marco's query was a red flag event. Didn't make any sense that one minute Smith was saying EMAS didn't want it, then a few minutes later they were one of the interested parties to buy it. I call BS on that.

Imagine what a change of control could do for DDI. Put some qualified people in place to manage operations, cut out the bloated parts of the payroll and overhead, "turn & burn" ie sell the idle equipment from Mako and the carousels and use the cash for things that generate profits.

I gotta figure the institutional investors have that scenario in mind and may already be hinting/pressuring toward that.

the most promising phrase I heard in the last CC was Smith - "everything is for sale"

I honestly hope someone buys the whole shebang and starts running it like a publicly traded company should be.

spec