Remember this?
Deep Down Inc. Announces $3,000,000 Private Placement
October 5, 2007
Deep Down Inc. announced that it has reached an agreement with Ironman Energy Capital, L.P. to close a private placement of 3,125,000 shares of common stock of the company at $0.96 per share, or $3,000,000 in the aggregate, in an agreement reached on October 2, 2007, when the closing price was $1.03 per share. The Company expects closing to take place on October 12, 2007.
AND THIS:
Deep Down Inc. Announces Contract Win
October 3, 2007
Deep Down Inc. announced that it has secured over $22 million in drilling riser flotation contracts for Matrix Asia Pacific Pty Ltd of Perth, Australia, and expects to close over $8 million in additional contracts within the next couple of weeks. Deep Down has an exclusive agreement with Matrix to introduce their complete product line to the U.S. Market.
At the current levels, its a no brainer!! The street is not going to recognize the value of this stock until the numbers come out. I believe we'll trade close to the current levels until then. After earnings, these prices will be just a memory and we will never be under a buck again. Better get on board, the train is about the leave the station! JMHO.
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