Replies to post #72248 on Koil Energy Solutions Inc. (KLNG)

[locustsuc]

An interesting excerpt from the S1


None of the Company’s directors are independent. However, the Company believes that it would be exempt from some of the independence requirements of NASDAQ ® due to the Company’s being a controlled company as defined in the NASDAQ® rules. Under the NASDAQ® standards for “independence”, none of our directors would qualify as independent generally or with respect to any specific independence requirements for any committee member. However, as the Company is not traded on the NASDAQ®, the Company is not required to comply with NASDAQ® independence requirements at this time. At such time, if ever, as the Company is traded on NASDAQ® or any alternative exchange, which requires director independence, the Company plans to take steps at that time to comply with such independence requirements.

[fazoolius]

Employees (from the S-1)

We have 165 employees as of July 16, 2008. Our employees are not covered by collective bargaining agreements and we consider our employee relations to be good. Our operations depend in part on our ability to attract a skilled labor force. While we believe that our wage rates are competitive and that our relationship with our skilled labor force is good, a significant increase in the wages paid by competing employers could result in a reduction of our skilled labor force, increases in the wage rates that we pay or both.


Glad to see they are getting bigger!

-faz




"I swear by my life and my love of it that I will never live for the sake of another man, nor ask another man to live for mine." - John Galt