Koil Energy Solutions Inc. (KLNG)

[UHCougar]

Equipment Term Loan are secured by a security

From the loan agreement:

Whitney Credit Agreement

for Whitney to make a new single-advance term loan to Deep Down in the original principal amount of $250 (“Equipment Term Loan”) for the purpose of effecting a purchase of two tensioners (the “Equipment”). The Equipment Term Loan has an interest rate of 4.0 percent per annum and maturity date of April 15, 2018, and the Company is obligated to make increasing monthly repayments of principal (along with accrued and unpaid interest thereon) starting at $4, beginning April 1, 2013;

In other words, the "Equipment Term Loan" of only $250k is secured against 2 pieces of equipment. Unless DPDW owns only $250k of assets, you're completely wrong. Nice try though.

Post #105609

frankermel Thursday, 12/19/13 09:40:33 AM
Re: UHCougar post# 105606
Post # of 105619

Whitney owns all of DPDW assets.