DPDW.. $0.0975 In Reply to 'tombrady12nh'
I for one was surprised by the reaction.. It was a complicated transaction and after a little more reading it was obvious the best possible outcome.. The retention of 20% of JV Flotation gives more to DPDW than it deserves.. The JV 20% participation also gives York a window for the going public without any registration fees .... This is long range thinking and as long as DPDW doesn't overspend and over plan in the future it will retain this 20% ownership until a spin-off.. The spin-off is also a wind-fall to Ron & Co. as it insures thier finanical future..
What will be left on DPDW's balance sheet is a lean company that has the possibility to make money but DPDW is still owerweight in management overhead.. If this is taken care of,, and the "CORE" has taken all of it's W/O's,, DPDW can and will make money without Flotation.. As to York working with DPDW in the future,, I really doubt it as they have had the face to face meetings and have won about all that could/will create a large entry into Deep Drilling Services.. It's a shame because DPDW actually had the right idea,, but screwed it up by using connections created by necessity to raise money rather than from strength and vision selling the deal to an underwriter that understood the value of the "CORE" in relationship to the whole.. DPDW lost and York won and I doubt if York will want again to be associated with losers after taking them to the backyard and whipping thier A**...
But all is not lost on DPDW shareholders as DPDW has one notch left in it's belt and that should be used to tighten up it's expenses while creating Opp. for the core.. If they remain competive because they are in the profit mode and not because they need to survive they will make it just fine..
One thing that would turn my rather large position to a sell is if at this junture DPDW was to issue more shares to management and further dilutes my/all shareholder's interest in JV Flotation or still not breakout the parts of the whole when making future PR's and filings.... As I have posted many times,, Flotation was the jewel and not the welding shop in Texas and it's time to come clean with shareholds as to what the "Core" is really worth.. York has showed us what Flotation was worth and now it's about time shareholders know if the rest of the company is a can of worms or actually a real company with profit potential....
Until I see anything different I will maintain my position trading around the core and adding to it on weakness.. hank
News 
Market Data 
Discover 
