Replies to post #65791 on Koil Energy Solutions Inc. (KLNG)

[b9molecule]

spec machine

They already have the deal details signed (definitive agreement), all that is left is the closing. I think we'll hear as soon as the closing is done.

I respectfully disagree.
according to the 8-K filed:
"Deep Down's closing of the purchase of Flotation Technologies remains subject to several conditions, including Deep Down's obtaining financing for the payment of the purchase price."
http://biz.yahoo.com/e/080421/dpdw.ob8-k.html

They reached an agreement in principle, but the financial (and other) details are yet to be finalized. I like the Q report, the deal flow, and the sweet spot DDI is in regarding deep water drilling -- they are well positioned for huge growth -- but it bothers me that they PR Flotation Technologies orders before they have finalized the merger. Anyone in business knows a deal is not closed until it is closed. JMHO

~b9