Koil Energy Solutions Inc. (KLNG)

[J-Rhino]

10 bagger Member Level Share Monday, May 03, 2010 2:55:43 PM
Re: Harry Wickey post# 96473 Post # of 99301
DPDW.. $0.125..

There is one line in the Cumings Corporation PR that gives/addes to me a little more than confusion in/on this buyout.. It is obvious that in order for this transaction to go further there had to be assurance that a private placement could be done.. As most PP's are at a discount,, the price would of been based upon a stock price prior to the announcement.. It is obvious that there was a leak if one would use PPS and volume as any gage.. Today CANT reappears as a seller and has always seemed to represent sellers from the first PIPE at $0.70.. If any of the $0.70 PIPE investors were contacted in this new private placement no one knows but a sale of the $0.70 PIPE at this level would create enough of a tax loss as to obtain over twice as many shares on a free bais.. Just thinking out loud,, but am concerned about the further dilution it would/could possibly cause.. As this is IMO and I am just thinking out loud maybee other's would care to comment.. hank

Audited financial information provided by Cuming Corporation indicates that revenue for the last twelve months, ending December 31, 2009 was approximately $73.3 million with a gross profit of $15.0 million. The total price for the acquisition including the assumption of certain liabilities is $50.0 million. Deep Down's closing of the purchase of Cuming Corporation remains subject to several conditions including Deep Down obtaining financing through a private placement offering for the payment of the purchase. Cuming management estimates that a closing will take place in approximately one month.