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Yep, many burned fingers of investors and lenders

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spec machine Member Level  Thursday, 08/13/20 12:47:42 PM
Re: Fred Kadiddlehopper post# 107331
Post # of 107349 
Yep, many burned fingers of investors and lenders

But look who made out like bandits while Deep Down was losing money year after year

All the last names fell into a group of three names

I can honestly say, outside of a professional criminal investigation, I doubt that any individual has ever dived deeper into the data points of a public company than I did on Deep Down

I dug up info on the management, employees, patents, customer feedback, lender interviews, ex employee interviews, reams of court documents, interviews of former management and employees of acquisition targets, suppliers, clients. I drove cross country to meet with Smith in Channelview, met with Butler in Key West and much more

During the good years of oilfield services there was only one reason they didn’t make a profit and/or grow the company

It took all that digging to find out what was holding them back from generating some value for shareholders

It wasn’t that they couldn’t (during the good years)

The petting zoo was the epiphany in my case, it finally opened my eyes and then it all made sense

It’s all there in my posts on the topic

By far the most offensive behavior I’ve ever heard of on a conference call was their laughter at a shareholder’s question after they just announced another quarter of huge losses

It was all a big joke, at shareholder’s expense!

I hope you’re doing well Fritz, cheers to us who took a beating on DPDW

spec

- Foglifter -

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