Replies to post #106889 on Koil Energy Solutions Inc. (KLNG)

[spec machine]

and this -
Proceeds from bank loan drawn for working capital purposes - $1M

Gosh I feel so sad that Ron actually had to go to work during the quarter

one of our executives, whose payroll is normally charged to SG&A, worked on a revenue-generating project during the three months ended March 31, 2014 and the associated payroll was reclassified to cost of sales;

I'll point out one other thing I nailed and that is the $600K note payable that I said was a "gift" that will never be repaid. The amount of revenue from note payable was $9K for the Q and that's roughly equivalent to interest only for a 30yr payback at 4% interest. They spend money like it's someone else's ... oh, that's right, it is!

spec