Koil Energy Solutions Inc. (KLNG)

[spec machine]

My impression was that the arbitration (with former FT shareholders) was on the "cash adjustment" portion of the closing only.

In simple terms, when the closing takes place there are at that moment in time inventories, work in progress, materials, A/R, A/P, cash on hand, and a host of other items to be valued for the cash adjustment portion of the purchase. The contract specified arbitration if the parties arrived at different valuations of those items to arrive at a mutual agreed adjustment.

I'm basing that on my earlier read through the attachment to the filing. I would ordinarily dig back thru it and post excerpts to make sure I got it right, but I'll be out most of today and just don't have the time right now.

Maybe someone can confirm and parse it out for the board. If not I'll try to do it this evening.