Replies to post #56435 on Sixty Six Oilfield Services Inc (SSOF)

[NoWammiesSTOP!]

Even so, Bland will need to be able to raise some serious capital. And we already know this operation is profitable. So either way we still retain profitable companies.

[Prodigious]

What am I missing or misreading?

They are not buying SSOF as a whole, just one unit/part of the entire SSOF business portfolio. It’s like General Electric selling its Aircraft Engines business, but keeping the Appliances and Healthcare businesses.

Quote:

“Letter of Intent (“LOI”) for certain assets to be acquired for cash and stock by 10sion Holdings”

Key words... “certain assets”

Quote again next paragraph:

“The intent is that 10sion is willing and able to purchase 665 Energy’s Fluid End Sales for an agreed sum of $10.5 million plus equity and”

Key words... “665 Energy’s Fluid End Sales”.

They didn’t mention the SSOF entity as a whole, just a portion.

What am I missing or how are you reading this that we differ in opinion?