Koil Energy Solutions Inc. (KLNG)

[JoeSmith]

Posted by: locustsuc Date: Monday, June 09, 2008 11:26:19 AM
In reply to: None Post # of 72664
A frequently asked question is now answered.


In 2006, the Company became a 50% member in Lankhorst Flotec Offshore, LLC. The LLC purpose is to share marketing costs in the promotion of joint products with another member. In year 2006 and 2007, no material assets or liabilities exist in the LLC. All costs have been expensed and no investment in the LLC is recognized for financial statement purposes.

On February 28, 2008 the Company and its joint venture member cancelled and liquidated Lankhorst Flotec Offshore LLC. See Footnote 8.
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