Replies to post #72664 on Koil Energy Solutions Inc. (KLNG)

[JoeSmith]

Posted by: locustsuc Date: Monday, June 09, 2008 11:26:19 AM
In reply to: None Post # of 72664
A frequently asked question is now answered.


In 2006, the Company became a 50% member in Lankhorst Flotec Offshore, LLC. The LLC purpose is to share marketing costs in the promotion of joint products with another member. In year 2006 and 2007, no material assets or liabilities exist in the LLC. All costs have been expensed and no investment in the LLC is recognized for financial statement purposes.

On February 28, 2008 the Company and its joint venture member cancelled and liquidated Lankhorst Flotec Offshore LLC. See Footnote 8.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=29883331


My posts are my opinions. Always dd to your own comfort level.

[SageWise]

4Mars, agreed. Pure speculation on my part now - with Flotec an approved/certfied supplier to PBR, may be can bid on behalf of DDI for such projects. IMO DDI is building a well rounded team that can take up bigger and bigger projects.

[1918forever]

Lankhorst Flotec Offshore ("LFO"): Updated booth (Deep Offshore Technology Asia Pacific (Dec 2008)) at the Penn Energy Events Exhibition - Last updated July 21, 2008.

http://www.pennenergyevents.com/index.php5?id=113213&highlight=&fid=513&offset=0&Action=showCompany&bmp=10111

Looks like things are being done behind the scenes. From what I can remember the exhibition previously read as just Flotation but now reads as "LFO".