Koil Energy Solutions Inc. (KLNG)

[UHCougar]

They can sell their fixed assets (i.e. obsolete fixed assets, unused equipment & machines, ect.) Don't speak to assets in general considering inventory is an asset.

I handle over $85 million in fixed assets for my company, pretty sure I know what I'm talking about here. The bank has a lien against the assets. They have first claim against them in the event of bankruptcy.

The PO for fixed assets is a contract between the supplier and the company. Not the supplier and the bank.

In addition to that, DPDW has $38.5 mill in total assets of which $12.4 is FAs. The bank can only claim damages up to the $$ of the notional loan amount. The term loan is $5 mill and as of 9/30/13 the company has only dawn down $2.07 mill.