Deep Down specializes in the provision of installation management, engineering services, support services and storage management services for subsea controls, umbilicals and pipeline industries offshore. The Company also fabricates component parts for subsea distribution systems and assemblies that specialize in the development of offshore subsea fields and tie backs. These items include umbilicals, flowlines, distribution systems, pipeline terminations, controls, winches, and launch and retrieval systems. Deep Down provides these services from the initial field concept phase, through manufacturing, site integration testing, installation, topside connections, and the final commissioning of projects. Its products and services serve the offshore industry and are used in deep-water exploration and production of oil and gas. Deep Down is situated to serve clients both internationally and in the Gulf of Mexico.
Posted by renrob05 on :
From a well respected poster on IHUB named BRIKK
hi johnnyrock, i think you need to sell some of your dogs and put a nice chunk of DPDW in your hurricane basket. diversification is good, but this is about quality, not quantity.
deep down's management has it written into an SEC filing that they won't dilute for at least one year, and i can't think of any other hurricane play that has made such a pledge. the share structure is also tighter than any other stock in the group (a mere 6M float) plus, to top it all off, they have a long list of world-class major oil clients:
actually a recent PR lists even more huge international clients, like technip, symbol TKP, which is one of the largest offshore services companies in the world (7.76B market cap!) how many penny stocks do you know of with clients like these?
and how many other penny hurricane plays are on track to make 15-20M in revenues by the end of the year..?
i've done some deep DD here, and imo this is as good as it gets. since deep down manufactures and deploys the fragile and expensive connections between an oil rig and its undersea wellheads, DPDW makes money even if a hurricane doesn't make landfall. once again, there's no other stock like it in this group.
oh, and one more thing: when the end of the season is coming, and all the other hurricane stocks are selling off, imo this one is going to keep on running. their stated goal is to acquire as many offshore service providers as possible, and they already have one: electrowave USA. stay tuned... much more to come..! Posted by renrob05 on :
Very nice day! up 3 pennies
Posted by renrob05 on :
Back in the .40s Look at the chart on my first post. This is ready to go.
Posted by renrob05 on :
Management's Pledge to the SEC of No Dilution:
from the 8-K/A, 11/24/06:
SECTION 6.05. Obligations of Shareholder. Shareholder, on behalf of new management of MediQuip, unconditionally agree: (i) to refrain from the issuance of any securities pursuant to a registration statement on Form S-8 for a period of 12 months from and after the Effective Time (ii) not to change the number of issued or outstanding shares of capital stock of MediQuip by a stock split, stock dividend, combination, reclassification, reverse stock split, combination or reclassification of shares or other similar event for a period of 12 months from and after the Effective Time, and except as a condition to a listing of common stock on a national exchange, in which event the limitation period will be 6 months (iii) not to issue any equity securities to any person, firm or corporation for any purpose whatsoever for consideration less than the fair market value applicable to the nature of the transaction of such securities, and (iv) not to file a registration statement with the Securities and Exchange Commission on Form SB-2 or other similar form covering secondary offering of and class of equity securities prior to the expiration of 6 months from and after the Effective Time.
Posted by renrob05 on :
Great news!
Deep Down's New ElectroWave Subsidiary Reports Record Month Thursday May 17, 3:46 pm ET
HOUSTON, May 17 /PRNewswire-FirstCall/ -- Deep Down, Inc. (OTC Bulletin Board: DPDW - News) today announced its recently acquired ElectroWave USA electronic monitoring and control business has so far this month received orders totaling approximately $800,000.
The offshore petroleum and marine electronic system orders included projects for Transocean, the world's largest offshore drilling contractor, and Diamond Offshore Drilling, Inc., a leading deepwater offshore drilling contractor operating one of the largest fleets of offshore drilling units in the world.
"We are pleased that our customers are taking advantage of the synergy provided by ElectroWave's innovative electronic monitoring solutions, which are now helping to fuel unprecedented growth in our sales orders," commented Ron Smith, Deep Down's chief executive officer. "I believe this demonstrated performance by ElectroWave lends validation to our strategy of corporate expansion through both organic growth and further acquisitions of offshore and marine industry service providers."
"The orders received included two closed-circuit television systems (CCTV) for installation on semi-submersible drilling rigs," commented Ron Nance, ElectroWave's executive vice-president. "These systems include a newly developed touch-screen control system that is contained in a purged enclosure for use in Class 1, Div 1, hazardous environments to provide drill operators the same functionality as a standard joystick controlled keyboard.
"These CCTV installations are similar in scope to the systems the Company previously designed and installed on three of New York City Department of Transportation's 4400 passenger Kennedy class ferries. This new technology will soon be marketed to the entire CCTV industry for use in hazardous environments," concluded Nance.
"ElectroWave also received three drill monitoring system orders for installation on semi-submersible drilling rigs," commented Amber Singsayachack, ElectroWave's vice-president in charge of drill display programs.
"We already expect additional orders this month from both the ElectroWave and Deep Down divisions. With the current offshore oil and gas industry growth rate gaining significant momentum due to the world's increasing petroleum requirements, I believe the company will experience record growth during 2007," Smith concluded.
About Deep Down, Inc.
Deep Down specializes in the provision of innovative solutions, installation management, engineering services, support services, custom fabrication and storage management services for the offshore subsea control, umbilical, and pipeline industries. The company fabricates component parts of subsea distribution systems and assemblies that specialize in the development of subsea fields and tie backs. These items include umbilicals, flow lines, distribution systems, pipeline terminations, controls, winches, and launch and retrieval systems, among others. Deep Down provides these services from the initial field conception phase, through manufacturing, site integration testing, installation, topside connections, and the final commissioning of a project. The Company's ElectroWave subsidiary offers products and services in the fields of electronic monitoring and control systems for the energy, military, and commercial business sectors. ElectroWave designs, manufactures, installs, and commissions integrated PLC and SCADA based instrumentation and control systems, including ballast control and monitoring, drilling instrumentation, vessel management systems, marine advisory systems, machinery plant control and monitoring systems, and closed circuit television systems.
The Company's strategy is to consolidate service providers to the offshore industry, as well as designers and manufacturers of subsea, surface, and offshore rig equipment used by major, independent, and foreign national oil and gas companies in deep-water exploration and production of oil and gas throughout the world. Deep Down's customers include BP Petroleum, Royal Dutch Shell, Exxon Mobil Corporation, Devon Energy Corporation, Chevron Corporation, Anadarko Petroleum Corporation, Marathon Oil Corporation, Kerr-McGee Corporation, Nexen Inc., BHP, Amerada Hess, Helix, Oceaneering International, Inc., Subsea 7, Inc., Transocean Offshore, Diamond Offshore, Marinette Marine Corporation, Acergy, Veolia Environmental Services, Noble Energy Inc., Aker Kvaerner, Cameron, Oil States, Dril-Quip, Inc., Nexans, Cabett, JDR, and Duco, among others. For further company information, please visit http://www.deepdowninc.com and http://www.electrowaveusa.com
One of our most important responsibilities is to communicate with shareholders in an open and direct manner. Comments are based on current management expectations, and are considered "forward-looking statements," generally preceded by words such as "plans," "expects," "believes," "anticipates," or "intends." We cannot promise future returns. Our statements reflect our best judgment at the time they are issued, and we disclaim any obligation to update or alter forward-looking statements as the result of new information or future events. Deep Down urges investors to review the risks and uncertainties contained within its filings with the Securities and Exchange Commission.
Posted by renrob05 on :
Up on news today! Boooyahhhh!
Posted by GlassCrasher on :
I've been in this since last year. This is one of the most solid plays on the Bulletin Board stocks. This is an investment, not just a flip. This company is growing organically and through acquistions.
Posted by Goodones on :
Yes, very good stock to be in. Q and PRs next week should push this much higher.
Posted by renrob05 on :
C'mon guys...no chatter on this one. LOOK AT THE CHART. I dare ya.
Posted by Free Muney on :
I jumped in on friday. Should be a smooth ride to .60, macd cross over today.
Posted by renrob05 on :
.60 huh? I see dollarville in the summer. Check out the PR about Electrowave. They are gonna make mucho money. Also, they pledge to SEC that they will not dilute x 1 year. Boooyah!
Posted by renrob05 on :
Actually, my buddies and i did some calculations and the valuation we came up with is 1.76 So, it is very undervalued.
Posted by renrob05 on :
L2s looking strong this morning.
Posted by Lockman on :
What a great hire for Deep Down. This guy has a most impressive resume.
5-Jun-2007
Change in Directors or Principal Officers
ITEM 5.02 - Departure of Directors or Principal Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On June 5, 2007, the Company announced that it has engaged Eugene L. Butler to serve as its new Chief Financial Officer. Mr. Butler will also fill a vacancy on the Board of Directors
Mr. Butler served in various capacities as a Director, President, CEO, CFO and COO of Weatherford International, Inc., a $2 billion multinational service and equipment corporation serving the worldwide energy market, from 1974 to 1991. He was elected to the Board of Directors of Weatherford in May 1978, elected President and COO in 1979, and President and CEO in 1984. He successfully developed and implemented a turnaround strategy eliminating debt and returning the company to profitability during a severe energy recession. As well, he expanded operations into international markets allowing Weatherford to become the world leader in the company's products and services lines.
Prior to joining Weatherford International in 1974, Mr. Butler, a Certified Public Accountant, was an Audit Manager with Arthur Andersen & Co. in Houston. Since leaving Weatherford in 1991, Mr. Butler has been involved in numerous financial packaging, debt restructuring, acquisition and capital raising transactions, as agent and principal.
Mr. Butler will receive 3 million options, each to purchase one share of common stock of Deep Down, Inc. at an exercise price of $0.515 per share. One-third of such options will vest on each of May 31, 2008, 2009 and 2010. The options will expire on August 31. 2010.
The Company has also announced that Mary L. Budrunas will fill a vacancy on the Board of Directors. Ms. Budrunas, currently responsible for all administrative functions including human resources and accounting for the Company, co-founded Deep Down, Inc. in 1997 along with the current chief executive officer Ronald E. Smith. Ms. Budrunas has more than 20-years of logistical management experience in manufacturing, fabrication, and industrial sourcing in the oil and gas industry. Prior to Deep Down, she managed purchasing for Mustang Engineering and directed procurement for a large petroleum drilling and production facility project in Ulsan, Korea.
Posted by renrob05 on :
What a great hire for Deep Down. This guy has a most impressive resume.
5-Jun-2007
Change in Directors or Principal Officers
ITEM 5.02 - Departure of Directors or Principal Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On June 5, 2007, the Company announced that it has engaged Eugene L. Butler to serve as its new Chief Financial Officer. Mr. Butler will also fill a vacancy on the Board of Directors
Mr. Butler served in various capacities as a Director, President, CEO, CFO and COO of Weatherford International, Inc., a $2 billion multinational service and equipment corporation serving the worldwide energy market, from 1974 to 1991. He was elected to the Board of Directors of Weatherford in May 1978, elected President and COO in 1979, and President and CEO in 1984. He successfully developed and implemented a turnaround strategy eliminating debt and returning the company to profitability during a severe energy recession. As well, he expanded operations into international markets allowing Weatherford to become the world leader in the company's products and services lines.
Prior to joining Weatherford International in 1974, Mr. Butler, a Certified Public Accountant, was an Audit Manager with Arthur Andersen & Co. in Houston. Since leaving Weatherford in 1991, Mr. Butler has been involved in numerous financial packaging, debt restructuring, acquisition and capital raising transactions, as agent and principal.
Mr. Butler will receive 3 million options, each to purchase one share of common stock of Deep Down, Inc. at an exercise price of $0.515 per share. One-third of such options will vest on each of May 31, 2008, 2009 and 2010. The options will expire on August 31. 2010.
The Company has also announced that Mary L. Budrunas will fill a vacancy on the Board of Directors. Ms. Budrunas, currently responsible for all administrative functions including human resources and accounting for the Company, co-founded Deep Down, Inc. in 1997 along with the current chief executive officer Ronald E. Smith. Ms. Budrunas has more than 20-years of logistical management experience in manufacturing, fabrication, and industrial sourcing in the oil and gas industry. Prior to Deep Down, she managed purchasing for Mustang Engineering and directed procurement for a large petroleum drilling and production facility project in Ulsan, Korea.
Wow, this is huge!!
Posted by GlassCrasher on :
This is on the verge of breakout. Look at the Bids. NITE keeps upticking on the Bid side. Ask is ultra thin.
Posted by Bazooka on :
I'm in at .51 Hope lets hope Monday is a good day.
Posted by renrob05 on :
quote:Originally posted by Bazooka: I'm in at .51 Hope lets hope Monday is a good day.
Very nice price. You won't be dissapointed.
Posted by captain america on :
getting some action now .54
Posted by Bazooka on :
yup lookin good
Posted by stocktrader2006 on :
I'm in at .54
Posted by captain america on :
took awhile but im in at .53
Posted by stocktrader2006 on :
I smacked dat ask!!!
Posted by Bazooka on :
good day so far up 7 cents
Posted by captain america on :
not a bad day slow and steady up .04 at .55
Posted by renrob05 on :
quote:Originally posted by captain america: not a bad day slow and steady up .04 at .55
You've seen nothing yet. Remember there is no dilution whatsoever in this stock. So, when it runs...it will run hard.
Management's Pledge to the SEC of No Dilution:
from the 8-K/A, 11/24/06:
SECTION 6.05. Obligations of Shareholder. Shareholder, on behalf of new management of MediQuip, unconditionally agree: (i) to refrain from the issuance of any securities pursuant to a registration statement on Form S-8 for a period of 12 months from and after the Effective Time (ii) not to change the number of issued or outstanding shares of capital stock of MediQuip by a stock split, stock dividend, combination, reclassification, reverse stock split, combination or reclassification of shares or other similar event for a period of 12 months from and after the Effective Time, and except as a condition to a listing of common stock on a national exchange, in which event the limitation period will be 6 months (iii) not to issue any equity securities to any person, firm or corporation for any purpose whatsoever for consideration less than the fair market value applicable to the nature of the transaction of such securities, and (iv) not to file a registration statement with the Securities and Exchange Commission on Form SB-2 or other similar form covering secondary offering of and class of equity securities prior to the expiration of 6 months from and after the Effective Time.
Posted by wes19c on :
Got in this yesterday, looks pretty solid imo
Posted by captain america on :
check out their cameras when you get a chance.(daytime)
far right link (down load the plug in) user id: DDI password: ddi
Posted by Bazooka on :
I'm ready for this to take off. Seems like the MM's are holding it down?
Posted by GlassCrasher on :
The MM's are looking for shares. I have no worries about this stock. Shares are being accumulated and held by strong hands.
Posted by Bazooka on :
well there is serious pumping go on over at IHub. There is never any negative or even neutral things said over there. That makes me worry because as soon as this thing takes off (or IF it does) it will be for a very short time and no doubt they will sell sell sell. IMO
Posted by GlassCrasher on :
Deep Down Achieves ISO 9001 Certification Friday June 15, 9:50 am ET
HOUSTON, June 15 /PRNewswire-FirstCall/ -- Deep Down, Inc. (OTC Bulletin Board: DPDW - News) today announced that it has received certification of its Quality Management System (QMS) according to standards set forth by the International Organization for Standardization (ISO) 9001:2000. ADVERTISEMENT
ISO is a non-governmental organization comprised of a network of national standards institutes from 157 countries that act as a bridging organization creating consensus on standardization solutions for business processes to help meet both the standardization requirements of the various industries and the broader needs of society, such as consumers and users. Organizations must demonstrate compliance with all ISO established requirements to become ISO 9001 registered. Compliance is determined by an initial registration assessment, and then subsequent surveillance audits are held periodically.
The subsequent series of ongoing audits reviews the effectiveness of Deep Down's quality systems in areas such as customer focus, planning, training, product realization, measurement, analysis, and continual improvement of the overall system.
ISO 9001 certificate registration is effective for 3 years, after which a company must undergo another full registration audit. Companies implement and obtain registration to assure customers that it has effective quality management systems (QMS) in place, typically leading to an enhanced ability to meet customer expectations, and improve overall operations, performance, and profitability when compared to non-ISO certified organizations.
Many organizations require suppliers to have ISO 9001 registration, and Deep Down's new certification now allows it to participate in projects requiring ISO certified manufacturers, including government contracts.
Deep Down, Inc. has selected The American Bureau of Shipping -- Quality Evaluations Division as its ISO 9001 registrar. The purpose of a registrar is to perform both the initial registration and surveillance audits, and to maintain the registration with the ANSI-ASQ National Accreditation Board, also known as ANAB. ANAB is the U.S. accreditation body for management systems, and accredits certification bodies for ISO 9001 quality management systems.
"This further represents our commitment to total customer satisfaction. We believe Deep Down stands among only a handful of equipment and service providers that are ISO certified," commented Ron Smith, president and chief executive officer.
"In addition, to further enhance Deep Down's subsea engineering capabilities and meet growing demand, we have also recently hired two additional subsea engineers, with strong experience from such companies as Minerals Management Service, Stolt Offshore, Ocean Design, Inc., and Dyna Technologies, Inc.," Smith concluded.
About Deep Down, Inc.
Deep Down specializes in the provision of innovative solutions, installation management, engineering services, support services, custom fabrication, and storage management services for the offshore subsea control, umbilical, and pipeline industries. The company fabricates component parts of subsea distribution systems and assemblies that specialize in the development of subsea fields and tie backs. These items include umbilicals, flow lines, distribution systems, pipeline terminations, controls, winches, and launch and retrieval systems, among others. Deep Down provides these services from the initial field conception phase, through manufacturing, site integration testing, installation, topside connections, and the final commissioning of a project. The Company's ElectroWave subsidiary offers products and services in the fields of electronic monitoring and control systems for the energy, military, and commercial business sectors. ElectroWave designs, manufactures, installs, and commissions integrated PLC and SCADA based instrumentation and control systems, including ballast control and monitoring, drilling instrumentation, vessel management systems, marine advisory systems, machinery plant control and monitoring systems, and closed circuit television systems.
The Company's strategy is to consolidate service providers to the offshore industry, as well as designers and manufacturers of subsea, surface, and offshore rig equipment used by major, independent, and foreign national oil and gas companies in deep-water exploration and production of oil and gas throughout the world. Deep Down's customers include BP Petroleum, Royal Dutch Shell, Exxon Mobil Corporation, Devon Energy Corporation, Chevron Corporation, Anadarko Petroleum Corporation, Marathon Oil Corporation, Kerr-McGee Corporation, Nexen Inc., BHP, Amerada Hess, Helix, Oceaneering International, Inc., Subsea 7, Inc., Transocean Offshore, Diamond Offshore, Marinette Marine Corporation, Acergy, Veolia Environmental Services, Noble Energy Inc., Aker Kvaerner, Cameron, Oil States, Dril-Quip, Inc., Nexans, Cabett, JDR, and Duco, among others. For further company information, please visit http://www.deepdowninc.com and http://www.electrowaveusa.com
One of our most important responsibilities is to communicate with shareholders in an open and direct manner. Comments are based on current management expectations, and are considered "forward-looking statements," generally preceded by words such as "plans," "expects," "believes," "anticipates," or "intends." We cannot promise future returns. Our statements reflect our best judgment at the time they are issued, and we disclaim any obligation to update or alter forward-looking statements as the result of new information or future events. Deep Down urges investors to review the risks and uncertainties contained within its filings with the Securities and Exchange Commission.
-------------------------------------------------------------------------------- Source: Deep Down, Inc.
Posted by GlassCrasher on :
I believe this should be treated like a long-term Big board stock investment. Just hold a good core position and have some flipper shares. The new CFO's options vest in one year at .515 cents! I believe we see at least 2 dollars in one year if not 4 or 5.
Posted by Bazooka on :
at .59 lookin good today on the news
Posted by Bazooka on :
dpdw is running
Posted by GlassCrasher on :
It was only a matter of time. With the fundamentals this one has, sky's the limit.
Posted by renrob05 on :
Very nice breakout
Posted by SherriT on :
Achieving the ISO 9001 compliance is a very big deal too...
Posted by captain america on :
Source: Deep Down, Inc.
Deep Down Announces Audited Financials for ElectroWave Monday June 18, 6:37 pm ET
HOUSTON, June 18 /PRNewswire-FirstCall/ -- Deep Down, Inc. (OTC Bulletin Board: DPDW - News) today announced audited financial results for ElectroWave USA, Inc., a Texas corporation, an electronic monitoring and control systems development company operating in the energy, military, and commercial business sectors, for the years ended December 31, 2005 and 2006. On April 2, 2007, Deep Down announced that it acquired substantially all of the assets of ElectroWave USA, Inc., a Texas corporation. Deep Down formed a wholly-owned subsidiary, ElectroWave USA, Inc., a Nevada Corporation, to complete the acquisition.
ADVERTISEMENT For the period ended December 31, 2005 and 2006, ElectroWave USA, Inc. a Texas corporation, had revenues of $2,816,183 and $3,284,504, respectively. Income from operations increased $263,857 from $685 for the year ended December 31, 2005, to $264,542 for the year ended December 31, 2006. Net income increased $239,220 from a loss of $88,521 for the year ended December 31, 2005, to positive earnings of $150,699 for the year ended December 31, 2006.
ElectroWave offers products and services in the electronic monitoring and control system markets for the energy, military, and commercial industries. ElectroWave designs, manufactures, installs, and commissions integrated PLC and SCADA based instrumentation and control systems, including ballast control and monitoring, drilling instrumentation, vessel management systems, marine advisory systems, machinery plant control and monitoring systems, and closed circuit television systems. ElectroWave's customers include Transocean Offshore, Diamond Offshore, Marinette Marine Corporation, VT Halter, Atlantic Marine, New York City Department of Transportation, and others. ElectroWave's equipment is installed on some of the latest generation United States Coast Guard and United States Navy vessels. Current systems are in operation in the following areas: United States Gulf of Mexico, the North Sea, Baku, Vietnam, Singapore, Nigeria, Equatorial Guinea, Cameroon, Angola, India, Egypt, the United Kingdom, Russia, Brazil, Australia, Indonesia, and the Middle East.
About Deep Down, Inc.
Deep Down specializes in the provision of innovative solutions, installation management, engineering services, support services, custom fabrication, and storage management services for the offshore subsea control, umbilical, and pipeline industries. The company fabricates component parts of subsea distribution systems and assemblies that specialize in the development of subsea fields and tie backs. These items include umbilicals, flow lines, distribution systems, pipeline terminations, controls, winches, and launch and retrieval systems, among others. Deep Down provides these services from the initial field conception phase, through manufacturing, site integration testing, installation, topside connections, and the final commissioning of a project. The Company's ElectroWave subsidiary offers products and services in the fields of electronic monitoring and control systems for the energy, military, and commercial business sectors. ElectroWave designs, manufactures, installs, and commissions integrated PLC and SCADA based instrumentation and control systems, including ballast control and monitoring, drilling instrumentation, vessel management systems, marine advisory systems, machinery plant control and monitoring systems, and closed circuit television systems.
The Company's strategy is to consolidate service providers to the offshore industry, as well as designers and manufacturers of subsea, surface, and offshore rig equipment used by major, independent, and foreign national oil and gas companies in deep-water exploration and production of oil and gas throughout the world. Deep Down's customers include BP Petroleum, Royal Dutch Shell, Exxon Mobil Corporation, Devon Energy Corporation, Chevron Corporation, Anadarko Petroleum Corporation, Marathon Oil Corporation, Kerr-McGee Corporation, Nexen Inc., BHP, Amerada Hess, Helix, Oceaneering International, Inc., Subsea 7, Inc., Transocean Offshore, Diamond Offshore, Marinette Marine Corporation, Acergy, Veolia Environmental Services, Noble Energy Inc., Aker Kvaerner, Cameron, Oil States, Dril-Quip, Inc., Nexans, Cabett, JDR, and Duco, among others. For further company information, please visit http://www.deepdowninc.com and http://www.electrowaveusa.com
One of our most important responsibilities is to communicate with shareholders in an open and direct manner. Comments are based on current management expectations, and are considered "forward-looking statements," generally preceded by words such as "plans," "expects," "believes," "anticipates," or "intends." We cannot promise future returns. Our statements reflect our best judgment at the time they are issued, and we disclaim any obligation to update or alter forward-looking statements as the result of new information or future events. Deep Down urges investors to review the risks and uncertainties contained within its filings with the Securities and Exchange Commission.
Posted by Bazooka on :
today is going to be huge
Posted by renrob05 on :
This will take time to get its true valuation. $2.00 imo
Posted by renrob05 on :
About Deep Down, Inc.
Deep Down specializes in the provision of innovative solutions, installation management, engineering services, support services, custom fabrication, and storage management services for the offshore subsea control, umbilical, and pipeline industries. The company fabricates component parts of subsea distribution systems and assemblies that specialize in the development of subsea fields and tie backs. These items include umbilicals, flow lines, distribution systems, pipeline terminations, controls, winches, and launch and retrieval systems, among others. Deep Down provides these services from the initial field conception phase, through manufacturing, site integration testing, installation, topside connections, and the final commissioning of a project. The Company’s ElectroWave subsidiary offers products and services in the fields of electronic monitoring and control systems for the energy, military, and commercial business sectors. ElectroWave designs, manufactures, installs, and commissions integrated PLC and SCADA based instrumentation and control systems, including ballast control and monitoring, drilling instrumentation, vessel management systems, marine advisory systems, machinery plant control and monitoring systems, and closed circuit television systems.
The Company’s strategy is to consolidate service providers to the offshore industry, as well as designers and manufacturers of subsea, surface, and offshore rig equipment used by major, independent, and foreign national oil and gas companies in deep-water exploration and production of oil and gas throughout the world. Deep Down’s customers include BP Petroleum, Royal Dutch Shell, Exxon Mobil Corporation, Devon Energy Corporation, Chevron Corporation, Anadarko Petroleum Corporation, Marathon Oil Corporation, Kerr-McGee Corporation, Nexen Inc., BHP, Amerada Hess, Helix, Oceaneering International, Inc., Subsea 7, Inc., Transocean Offshore, Diamond Offshore, Marinette Marine Corporation, Acergy, Veolia Environmental Services, Noble Energy Inc., Aker Kvaerner, Cameron, Oil States, Dril-Quip, Inc., Nexans, Cabett, JDR, and Duco, among others. For further company information, please visit www.deepdowninc.com and www.electrowaveusa.com
One of our most important responsibilities is to communicate with shareholders in an open and direct manner. Comments are based on current management expectations, and are considered "forward-looking statements," generally preceded by words such as "plans," "expects," "believes," "anticipates," or "intends." We cannot promise future returns. Our statements reflect our best judgment at the time they are issued, and we disclaim any obligation to update or alter forward-looking statements as the result of new information or future events. Deep Down urges investors to review the risks and uncertainties contained within its filings with the Securities and Exchange Commission.
For Further Information
Steven Haag, Investor Relations
ir*deepdowninc.com
281-862-2201 (O) 281-862-2522 (F) www.deepdowninc.com Posted by renrob05 on :
SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________________________________
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15 (D) of the SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of Earliest Event Reported) June 21, 2007 ____________________________________________________
(formerly Mediquip Holdings, Inc.) (Exact name of registrant as specified in its charter)
Nevada
75-2263732 (formerly Delaware)
(IRS Employer Identification Number) (State or other jurisdiction of incorporation or organization)
15473 East Freeway Channelview, Texas 77530 (Address of principal executive offices)
Ronald E. Smith, President Deep Down, Inc. 15473 East Freeway Channelview, Texas 77530 (Name and address of agent for service)
(281) 862-2201 (Telephone number, including area code of agent for service)
Item 8.01 - Other Events
On June 21, 2007 Deep Down, Inc. entered into a Letter of Intent to purchase Mako Technologies, Inc., a Louisiana corporation for a total acquisition price of approximately $14,500,000 consisting of a combination of cash, unsecured notes, and common stock.
Consumation of the transaction is subject to the customary conditions of a definitive agreement, due diligence, audited financial statements and similar matters.
Item 9.01. Financial Statements and Exhibits
Exhibit 99.1 Press Release dated June 21, 2007
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
DEEP DOWN, INC.
By: /s/ Ronald Smith Ronald Smith, President
Date: June 21, 2007
Exhibit 99.1
PRESS RELEASE
NEWS RELEASE
June 21, 2007 OTC BB: DPDW
DEEP DOWN EXECUTES LOI TO ACQUIRE MAKO TECHNOLOGIES
HOUSTON, TX - June 21, 2007 - Deep Down, Inc. (OTCBB: DPDW) today announced it has executed a letter of intent (LOI) to acquire Mako Technologies, Inc. (Mako). Headquartered in Morgan City, Louisiana, Mako serves the growing offshore petroleum and marine industries with technical support services, and products vital to offshore petroleum production, through rentals of its remotely operated vehicles (ROV), subsea equipment, and diving support systems used in diving operations, offshore construction, and environmental/marine surveys.
“Mako Technologies is the perfect complement to our current operations,” commented Robert E. Chamberlain, Jr., Deep Down’s chairman. “Preliminary due-diligence on Mako indicates 2006 revenues of approximately $6.46 million with adjusted EBITDA of approximately $2.5 million, subject to final review by our auditing team. We expect total consideration for the acquisition to be $5.0 million in cash, $4.5 million in non-convertible notes, and 7,936,508 shares of common stock of Deep Down.”
“We are excited to become a part of the Deep Down family of energy service companies,” commented Jacob Marcell, Mako Technologies’ chief executive officer. “With the strength of Deep Down’s infrastructure and access to capital, we foresee the ability to take advantage of the need for both planned and “emergency” offshore rental equipment in support of the growing level of oil and gas exploration occurring in the Gulf of Mexico. We also plan to expand our operations internationally.”
Ron Smith, Deep Down’s president and chief executive officer commented, “We intend to execute a definitive agreement once we have satisfactorily completed our due-diligence. We remain committed to both organic growth and expansion through the further consolidation of offshore industry service providers to the petroleum and marine industry.”
About Deep Down, Inc.
Deep Down specializes in the provision of innovative solutions, installation management, engineering services, support services, custom fabrication, and storage management services for the offshore subsea control, umbilical, and pipeline industries. The company fabricates component parts of subsea distribution systems and assemblies that specialize in the development of subsea fields and tie backs. These items include umbilicals, flow lines, distribution systems, pipeline terminations, controls, winches, and launch and retrieval systems, among others. Deep Down provides these services from the initial field conception phase, through manufacturing, site integration testing, installation, topside connections, and the final commissioning of a project. The Company’s ElectroWave subsidiary offers products and services in the fields of electronic monitoring and control systems for the energy, military, and commercial business sectors. ElectroWave designs, manufactures, installs, and commissions integrated PLC and SCADA based instrumentation and control systems, including ballast control and monitoring, drilling instrumentation, vessel management systems, marine advisory systems, machinery plant control and monitoring systems, and closed circuit television systems.
The Company’s strategy is to consolidate service providers to the offshore industry, as well as designers and manufacturers of subsea, surface, and offshore rig equipment used by major, independent, and foreign national oil and gas companies in deep-water exploration and production of oil and gas throughout the world. Deep Down’s customers include BP Petroleum, Royal Dutch Shell, Exxon Mobil Corporation, Devon Energy Corporation, Chevron Corporation, Anadarko Petroleum Corporation, Marathon Oil Corporation, Kerr-McGee Corporation, Nexen Inc., BHP, Amerada Hess, Helix, Oceaneering International, Inc., Subsea 7, Inc., Transocean Offshore, Diamond Offshore, Marinette Marine Corporation, Acergy, Veolia Environmental Services, Noble Energy Inc., Aker Kvaerner, Cameron, Oil States, Dril-Quip, Inc., Nexans, Cabett, JDR, and Duco, among others. For further company information, please visit www.deepdowninc.com and www.electrowaveusa.com
One of our most important responsibilities is to communicate with shareholders in an open and direct manner. Comments are based on current management expectations, and are considered "forward-looking statements," generally preceded by words such as "plans," "expects," "believes," "anticipates," or "intends." We cannot promise future returns. Our statements reflect our best judgment at the time they are issued, and we disclaim any obligation to update or alter forward-looking statements as the result of new information or future events. Deep Down urges investors to review the risks and uncertainties contained within its filings with the Securities and Exchange Commission.
For Further Information
Steven Haag, Investor Relations
ir*deepdowninc.com
281-862-2201 (O) 281-862-2522 (F) www.deepdowninc.com Posted by Bazooka on :
good news, if it dosn't take off today tomorrow morning will be interesting
Posted by renrob05 on :
This will run in the morn, just watch.
Posted by T e x on :
rob, elsewhere am kinda in on a friendly sidebet more or less agreeing with you...we looked at purely re: the chart last night. I projected a retrace then further rise...
Good luck
Posted by Bazooka on :
So Tex you think this is a good bet..? I ask because I'm not sure if this is a short or long play.. everyone says long but those could be pumpers over at IHub.
Posted by T e x on :
ohhh, it's been pumped like crazy... but I sided with the bettor that *the chart* shows more rise... actually what I said was I expected it fall and *if* it fell past 67, would test 58... but overall shows promise. In context, we were sitting around after the day, cutting it up a bit, and I reacted to one chart, quickly pulled merely to "play" along. I *have* submitted it to SPR, though--will report back if the DJ there has a look...
Posted by captain america on :
If it wasn't for the late PR we would of tested low .60s for sure tex. My bet is it will test .75 tomorrow but settles around .68-.69, combine that with a pump job over the weekend it will move some more on monday. just a guess..
Posted by renrob05 on :
Pumping or not. This one is extremely undervalued IMO.
Posted by Bazooka on :
well nothing but pumping over at IHub in fact everything that is not pumping gets deleted
Posted by T e x on :
Ok, y'all--remember I know nothing about the company...
I said if the SPR DJ responded, I would post. He did, and his take was, paraphrasing, that it needed to close above 70 today, but CMF and volume looks good. Short term, tomorrow is a "must" day re closing above 70. Peeps on the sidelines, instead of buying...if doesn't close above 70, look for dip to 60.
OK, me again--I still say *if* that dip occurs, I'm thinking support is 58, before it heads north again. Again, I like it, TA-wise...
Best to all
Posted by Bazooka on :
Thanks Tex.. I'm lookin to sell tomorrow and then buy back on the dip already took this one for some small change. It's a pretty solid stock though.
Posted by T e x on :
lol, don't buy or sell on what I say. I started by telling Rob a side-story and wishing good luck...
Posted by Bazooka on :
haha no, thats what I was going to do anyways... its what I did on the last run it had.
Posted by captain america on :
Im with you bazooka this could have a good pr cycle in its future.
Posted by renrob05 on :
quote:Originally posted by Bazooka: Thanks Tex.. I'm lookin to sell tomorrow and then buy back on the dip already took this one for some small change. It's a pretty solid stock though.
It's not an easy stock to flip. Trust me.
Posted by renrob05 on :
quote:Originally posted by Bazooka: haha no, thats what I was going to do anyways... its what I did on the last run it had.
Let me guess Bazooka, you sold out! Man the MMs should the tree all day and it still didn't close red.
That's too bad. Mark my words...we will see a dollar plus by September.
Posted by renrob05 on :
quote:Originally posted by renrob05:
quote:Originally posted by Bazooka: haha no, thats what I was going to do anyways... its what I did on the last run it had.
Let me guess Bazooka, you sold out! Man the MMs shook the tree all day and it still didn't close red.
That's too bad. Mark my words...we will see a dollar plus by September.
Posted by renrob05 on :
Up .05 today .70 x .72 This is still not even close to being done
Posted by renrob05 on :
.78 now
Up .11
Posted by GlassCrasher on :
.72 x .789 This is a top notch stock, in it's infancy. Sit back and watch the growth unfold before your eyes.
Posted by captain america on :
.73x.77 you might be right renrob05 im holding still and Im scared to try to flip this.
Posted by T e x on :
closed above .70...yay!
Posted by renrob05 on :
setting up to break it's alltime high Then, we hit a dollar!
Posted by T e x on :
above 70 is good... glad to see it holding
Posted by renrob05 on :
Back on track here...at HOD .71
Posted by T e x on :
what did it dip to?
Posted by T e x on :
nevermind, I saw...missed it by 3 cents...
Posted by renrob05 on :
Tex up .10 pennies today
break of .78 then we are off to the races.
Posted by T e x on :
Ya, great, Renee! I was just curious about the dip cuz of my lil sidebet. I had projected .58 for support, but it held at .61 Good stuff...
Posted by Bazooka on :
Renrob your right I did sell. Wish I didn't now, lol. Still made some change off of it though. Good luck with it Posted by GlassCrasher on :
Deep Down Announces Loose-Tube Steel Flying Lead Contract Friday July 13, 11:26 am ET
HOUSTON, July 13 /PRNewswire-FirstCall/ -- Deep Down, Inc. (OTC Bulletin Board: DPDW - News) today announced it has been awarded a contract to supply loose-tube steel flying leads and compliant Morays(TM) to a customer for their subsea field development project in the Green Canyon area of the Gulf of Mexico. This is a fast-track project, and all hardware must be delivered before the end of the year. ADVERTISEMENT
The scope of work includes refurbishment of existing steel flying leads and construction of new loose-tube steel flying leads. Deep Down will supply its proprietary, field-proven, loose-tube steel flying leads using seam-welded super-duplex tubing for the hydraulic and chemical injection conduits involved in subsea well control. Deep Down will also be furnishing its compliant infield umbilical termination assemblies (Morays(TM)), specially designed for easier deployment and installation.
"We are pleased that our customer has chosen our proven deepwater well support products for its subsea field development project," commented Ron Smith, Deep Down's chief executive officer. "This is yet another prime example of Deep Down's innovative technology being used as the preferred solution for critical subsea oilfield development and production.
"Deep down remains committed to innovation in the delivery of subsea oil & gas and marine products and services to meet the increasing demand of the offshore energy industry," Smith concluded.
About Deep Down, Inc.
Deep Down specializes in the provision of innovative solutions, installation management, engineering services, support services, custom fabrication, and storage management services for the offshore subsea control, umbilical, and pipeline industries. The company fabricates component parts of subsea distribution systems and assemblies that specialize in the development of subsea fields and tie backs. These items include umbilicals, flow lines, distribution systems, pipeline terminations, controls, winches, and launch and retrieval systems, among others. Deep Down provides these services from the initial field conception phase, through manufacturing, site integration testing, installation, topside connections, and the final commissioning of a project. The Company's ElectroWave subsidiary offers products and services in the fields of electronic monitoring and control systems for the energy, military, and commercial business sectors. ElectroWave designs, manufactures, installs, and commissions integrated PLC and SCADA based instrumentation and control systems, including ballast control and monitoring, drilling instrumentation, vessel management systems, marine advisory systems, machinery plant control and monitoring systems, and closed circuit television systems.
The Company's strategy is to consolidate service providers to the offshore industry, as well as designers and manufacturers of subsea, surface, and offshore rig equipment used by major, independent, and foreign national oil and gas companies in deep-water exploration and production of oil and gas throughout the world. Deep Down's customers include BP Petroleum, Royal Dutch Shell, Exxon Mobil Corporation, Devon Energy Corporation, Chevron Corporation, Anadarko Petroleum Corporation, Marathon Oil Corporation, Kerr-McGee Corporation, Nexen Inc., BHP, Amerada Hess, Helix, Oceaneering International, Inc., Subsea 7, Inc., Transocean Offshore, Diamond Offshore, Marinette Marine Corporation, Acergy, Veolia Environmental Services, Noble Energy Inc., Aker Kvaerner, Cameron, Oil States, Dril-Quip, Inc., Nexans, Cabett, JDR, and Duco, among others. For further company information, please visit www.deepdowninc.com and www.electrowaveusa.com.
One of our most important responsibilities is to communicate with shareholders in an open and direct manner. Comments are based on current management expectations, and are considered "forward-looking statements," generally preceded by words such as "plans," "expects," "believes," "anticipates," or "intends." We cannot promise future returns. Our statements reflect our best judgment at the time they are issued, and we disclaim any obligation to update or alter forward-looking statements as the result of new information or future events. Deep Down urges investors to review the risks and uncertainties contained within its filings with the Securities and Exchange Commission.
-------------------------------------------------------------------------------- Source: Deep Down, Inc.
Posted by renrob05 on :
I wish they would of said the client and numbers...oh well! Good news!!!
Posted by T e x on :
that's what I thought, too, Renee...*much* rather see numbers...
Posted by Bazooka on :
God it takes a mack truck to move this thing.
Posted by renrob05 on :
quote:Originally posted by Bazooka: God it takes a mack truck to move this thing.
Bazooka...i've been in this since .20 Really it upticks on nothing. Right now it is in consolidation mode. In other words, it is setting up for it's next move. IMO
Remember this only has a 6 mill float and management filed with the SEC that will not dilute a single share for one year.
Posted by ctr8604 on :
This guy is now trading at the lowest levels it has in the past several weeks (on no news). Given that this was a hurricane play from the beginning and the fact that hurricane season doesn't really get rolling until August / September, this recent pullback seems to be a good opportunity to double down. The Bollingers also indicate that an upward move probably isn't far away. Any thoughts folks?
----- CTR
Posted by renrob05 on :
quote:Originally posted by ctr8604: This guy is now trading at the lowest levels it has in the past several weeks (on no news). Given that this was a hurricane play from the beginning and the fact that hurricane season doesn't really get rolling until August / September, this recent pullback seems to be a good opportunity to double down. The Bollingers also indicate that an upward move probably isn't far away. Any thoughts folks?
----- CTR
It is much more than a hurricane play.
Posted by GlassCrasher on :
This pullback is a great opportunity to add to one's position. This pullback is due, IMHO, to flippers cashing out, impatients moving on to more volatile plays, and Market makers looking to load up on cheapies by walking down the price. I plan on using MCCY profits to add to my position.
Posted by GlassCrasher on :
HOUSTON, Aug. 14 /PRNewswire-FirstCall/ -- Deep Down, Inc. (OTC Bulletin Board: DPDW - News) today announced that it has redeemed 4,000 shares ($4,000,000 aggregate face value) of Series E Redeemable Exchangeable Preferred Stock for $2,000,000. ADVERTISEMENT
The Preferred Stock had a face value and liquidation preference of $1,000 per share, no dividend preference, and was exchangeable at the holder's option after June 30, 2007, into 6% subordinated notes due three years from the date of exchange. The Company has paid the holder $1,400,000 in cash for 2,800 shares ($2,800,000 aggregate face value) of Preferred Stock and agreed to pay 30 equal monthly installments of $20,000, or a total of $600,000, for the remaining 1,200 shares ($1,200,000 aggregate face value) of Preferred Stock.
"With this Preferred Stock transaction, we have reduced indebtedness by $3,400,000 with the use of $1,400,000 in cash today and a monthly installment plan that aggregates to $600,000 in cash over 30 months. We believe the use of 12.5% current coupon, 3% PIK debt to retire a $4,000,000 obligation at 50% of its face value (or $2,000,000) is an excellent use of funds," commented Robert E. Chamberlain, Jr., Deep Down's chairman.
"If you credit the $2,000,000 in savings from the redemption of the Preferred Stock against total expected interest costs of approximately $3,476,098 over the life of our $6,000,000 financing from Prospect Capital Corporation, our net effective cash cost of the borrowing from Prospect is reduced significantly. This use of proceeds was contemplated in our recent financing and further reinforces our commitment to strengthening our balance sheet, improving liquidity, and enhancing shareholder value."
About Deep Down, Inc.
Deep Down specializes in the provision of innovative solutions, installation management, engineering services, support services, custom fabrication, and storage management services for the offshore subsea control, umbilical, and pipeline industries. The company fabricates component parts of subsea distribution systems and assemblies that specialize in the development of subsea fields and tie backs. These items include umbilicals, flow lines, distribution systems, pipeline terminations, controls, winches, and launch and retrieval systems, among others. Deep Down provides these services from the initial field conception phase, through manufacturing, site integration testing, installation, topside connections, and the final commissioning of a project. The Company's ElectroWave subsidiary offers products and services in the fields of electronic monitoring and control systems for the energy, military, and commercial business sectors. ElectroWave designs, manufactures, installs, and commissions integrated PLC and SCADA based instrumentation and control systems, including ballast control and monitoring, drilling instrumentation, vessel management systems, marine advisory systems, machinery plant control and monitoring systems, and closed circuit television systems.
The Company's strategy is to consolidate service providers to the offshore industry, as well as designers and manufacturers of subsea, surface, and offshore rig equipment used by major, independent, and foreign national oil and gas companies in deep-water exploration and production of oil and gas throughout the world. Deep Down's customers include BP Petroleum, Royal Dutch Shell, Exxon Mobil Corporation, Devon Energy Corporation, Chevron Corporation, Anadarko Petroleum Corporation, Marathon Oil Corporation, Kerr-McGee Corporation, Nexen Inc., BHP, Amerada Hess, Helix, Oceaneering International, Inc., Subsea 7, Inc., Transocean Offshore, Diamond Offshore, Marinette Marine Corporation, Acergy, Veolia Environmental Services, Noble Energy Inc., Aker Kvaerner, Cameron, Oil States, Dril-Quip, Inc., Nexans, Cabett, JDR, and Duco, among others. For further company information, please visit http://www.deepdowninc.com and http://www.electrowaveusa.com.
One of our most important responsibilities is to communicate with shareholders in an open and direct manner. Comments are based on current management expectations, and are considered "forward-looking statements," generally preceded by words such as "plans," "expects," "believes," "anticipates," or "intends." We cannot promise future returns. Our statements reflect our best judgment at the time they are issued, and we disclaim any obligation to update or alter forward-looking statements as the result of new information or future events. Deep Down urges investors to review the risks and uncertainties contained within its filings with the Securities and Exchange Commission.
-------------------------------------------------------------------------------- Source: Deep Down, Inc.
Posted by GlassCrasher on :
Up again today heading into earnings which should be released Monday! Looking very strong here.
Posted by SherriT on :
Earnings were terrific - I took about 25% - will look for a re-entry.
Posted by captain america on :
SECTION 6.05. Obligations of Shareholder. Shareholder, on behalf of new management of MediQuip, unconditionally agree: (i) to refrain from the issuance of any securities pursuant to a registration statement on Form S-8 for a period of 12 months from and after the Effective Time (ii) not to change the number of issued or outstanding shares of capital stock of MediQuip by a stock split, stock dividend, combination, reclassification, reverse stock split, combination or reclassification of shares or other similar event for a period of 12 months from and after the Effective Time, and except as a condition to a listing of common stock on a national exchange, in which event the limitation period will be 6 months (iii) not to issue any equity securities to any person, firm or corporation for any purpose whatsoever for consideration less than the fair market value applicable to the nature of the transaction of such securities, and (iv) not to file a registration statement with the Securities and Exchange Commission on Form SB-2 or other similar form covering secondary offering of and class of equity securities prior to the expiration of 6 months from and after the Effective Time.
Posted by captain america on :
Deep Down Second Quarter Revenue Up 145% Over First Quarter Tuesday August 21, 8:33 am ET
HOUSTON, Aug. 21 /PRNewswire-FirstCall/ -- Deep Down, Inc. (OTC Bulletin Board: DPDW - News) today announced unaudited results for the second quarter ended June 30, 2007, on Form 10-QSB filed with the U.S. Securities and Exchange Commission.
ADVERTISEMENT Deep Down generated revenue of $7,243,182 for the six months ended June 30, 2007, with cost-of-sales of $4,545,402, for a gross profit of $2,697,780, or 37.3%. Revenues for the second quarter ended June 30, 2007, were $5,144,788, up 145% from $2,098,394 in revenue reported for the three months ended March 31, 2007. Gross profit for the second quarter ended June 30, 2007, was $1,851,475, or 36.0% of revenue, up from $846,305 in gross profit, or 40.3% of revenue, reported for the three months ended March 31, 2007. The increase in revenue resulted from the inclusion of ElectroWave revenue of approximately $950,000 during the second quarter, combined with significantly increased activity from our offshore subsea business.
"We are pleased to announce our second quarter financial results, a record quarter for Deep Down, and the first filing to reflect the contribution of our newly acquired ElectroWave division," commented Ron Smith, Deep Down's chief executive officer. "As you can see from the results of our strongest quarter ever, growth within the offshore oil and gas industry and our reputation for deep water innovation are 'fueling' organic growth through robust sales, while our acquisition strategy has now begun to also add significantly to revenues, which we believe are important indicators of a sound business strategy."
Eugene Butler, Deep Down's chief financial officer, added "Excluding ElectroWave revenue, our core business was still up over 100% with revenue of approximately $4,194,788 for the three months ended June 30, 2007, compared to $2,098,394 for the three months ended March 31, 2007. Our current backlog alone exceeds last year's revenue, and we expect continued growth from ElectroWave going forward."
Operating income for the second quarter ended June 30, 2007, was $673,599, up 449% from $122,629 in operating income reported for the three months ended March 31, 2007. Income from continuing operations for the three months ending June 30, 2007, was $1,396,829, as compared to a loss of $109,258 for the three months ended March 31, 2007. Net income for the three months ended June 30, 2007, totaled $949,466, net of tax expense of $447,363.
Included in net income is a one-time gain of $2,000,000 related to the extinguishment of debt, and non-cash interest expense of $1,102,385, or a net gain of $897,615, associated with the 4,000 shares of Series E preferred stock that was redeemed at a 50% discount to face value. Excluding this one-time gain, earnings before depreciation, interest, amortization, taxes and other non-cash charges (EBITDA) for the three months ended June 30, 2007, was $803,360, up 330% from $186,654 for the three months ended March 31, 2007.
"We are very pleased with the current scope and pace of business activity in our core subsea competencies. Anticipated acquisitions are expected to accelerate and expand that activity as we continue to pursue the implementation of our growth plan," concluded Robert E. Chamberlain, Jr., Deep Down's Chairman.
About Deep Down, Inc.
Deep Down specializes in the provision of innovative solutions, installation management, engineering services, support services, custom fabrication and storage management services for the offshore subsea control, umbilical, and pipeline industries. The company fabricates component parts of subsea distribution systems and assemblies that specialize in the development of subsea fields and tie backs. These items include umbilicals, flow lines, distribution systems, pipeline terminations, controls, winches, and launch and retrieval systems, among others. Deep Down provides these services from the initial field conception phase, through manufacturing, site integration testing, installation, topside connections, and the final commissioning of a project. The Company's ElectroWave subsidiary offers products and services in the fields of electronic monitoring and control systems for the energy, military, and commercial business sectors. ElectroWave designs, manufactures, installs, and commissions integrated PLC and SCADA based instrumentation and control systems, including ballast control and monitoring, drilling instrumentation, vessel management systems, marine advisory systems, machinery plant control and monitoring systems, and closed circuit television systems.
The Company's strategy is to consolidate service providers to the offshore industry, as well as designers and manufacturers of subsea, surface, and offshore rig equipment used by major, independent, and foreign national oil and gas companies in deep-water exploration and production of oil and gas throughout the world. Deep Down's customers include BP Petroleum, Royal Dutch Shell, Exxon Mobil Corporation, Devon Energy Corporation, Chevron Corporation, Anadarko Petroleum Corporation, Marathon Oil Corporation, Kerr-McGee Corporation, Nexen Inc., BHP, Amerada Hess, Helix, Oceaneering International, Inc., Subsea 7, Inc., Transocean Offshore, Diamond Offshore, Marinette Marine Corporation, Acergy, Veolia Environmental Services, Noble Energy Inc., Aker Kvaerner, Cameron, Oil States, Dril-Quip, Inc., Nexans, Cabett, JDR, and Duco, among others. For further company information, please visit http://www.deepdowninc.com and http://www.electrowaveusa.com
One of our most important responsibilities is to communicate with shareholders in an open and direct manner. Comments are based on current management expectations, and are considered "forward-looking statements," generally preceded by words such as "plans," "expects," "believes," "anticipates," or "intends." We cannot promise future returns. Our statements reflect our best judgment at the time they are issued, and we disclaim any obligation to update or alter forward-looking statements as the result of new information or future events. Deep Down urges investors to review the risks and uncertainties contained within its filings with the Securities and Exchange Commission.
DPDW $ 0.69 Deep Down Inc. -0.03 Shares Short 78,400 Days to Cover (Short Ratio) 0.6 Short % of Float % Shares Short - Prior 37,400 Short % Increase / Decrease 109.63 % Squeeze Ranking™ % from 52-Wk HIGH ( 0.94 ) -37.23 % % from 52-Wk LOW ( 0.04 ) 94.16 % % from 200-Day MA ( 0.53 ) 22.63 %
% from 50-Day MA ( 0.72 ) -5.11 % Price % Change (52-Wk) 43.00 % Trading Volume - Today 73,993 Trading Volume - Average 133,400 Trading Volume Vs. Avg. 55.47 % Total Shares - Float Total Shares - Outstanding 67,870,171 % Held by Insiders % % Held by Institutions % Market Cap 46,491,067 EPS -0.05 PE Ratio Sector: Industrial Goods Industry: Industrial Equipment & Components SI Record Date 2007-Aug Information Provided Without Warranty
.80 is getting taken out.
Posted by captain america on :
.78 x.82
Posted by captain america on :
.80x.82
Posted by kywee on :
I'm in around .81-.82. Looking for a nice little gain here.
Posted by captain america on :
looking very strong today. we should be due some news any day now (mako deal)..imo
Posted by captain america on :
.83 .82 x.84
Posted by captain america on :
.83 x .85
Posted by captain america on :
Deep Down Reduces Indebtedness by $2,250,000 Monday September 17, 3:16 pm ET
HOUSTON, Sept. 17 /PRNewswire-FirstCall/ -- Deep Down, Inc. (OTC Bulletin Board: DPDW - News) today announced it has exchanged 2,250 shares ($2,250,000 aggregate face value) of Series E Redeemable Exchangeable Preferred Stock ("Preferred Stock") from Ronald E. Smith, president and chief executive officer of Deep Down, and Mary L. Budrunas, director of Deep Down, for 2,250,000 shares of common stock.
ADVERTISEMENT The Preferred Stock had a face value and liquidation preference of $1,000 per share, no dividend preference, and was exchangeable at the holder's option after June 30, 2007, into 6% subordinated notes due three years from the date of exchange.
"With this Preferred Stock transaction, we have reduced indebtedness by another $2,250,000, thereby continuing our efforts to strengthen Deep Down's balance sheet. In addition, the Company has eliminated future non-cash interest charges associated with these shares of Preferred Stock. The value of the common stock received by Mr. Smith and Ms. Budrunas, based on the closing price on September 13, 2007, the date of agreement, was $1,473,750. Mr. Smith and Ms. Budrunas are signaling their confidence in the future of Deep Down by effectively accepting shares of common stock as if it were priced at $1.00 per share," commented Robert E. Chamberlain, Jr., Deep Down's chairman.
About Deep Down, Inc.
Deep Down specializes in the provision of innovative solutions, installation management, engineering services, support services, custom fabrication, and storage management services for the offshore subsea control, umbilical, and pipeline industries. The company fabricates component parts of subsea distribution systems and assemblies that specialize in the development of subsea fields and tie backs. These items include umbilicals, flow lines, distribution systems, pipeline terminations, controls, winches, and launch and retrieval systems, among others. Deep Down provides these services from the initial field conception phase, through manufacturing, site integration testing, installation, topside connections, and the final commissioning of a project. The Company's ElectroWave subsidiary offers products and services in the fields of electronic monitoring and control systems for the energy, military, and commercial business sectors. ElectroWave designs, manufactures, installs, and commissions integrated PLC and SCADA based instrumentation and control systems, including ballast control and monitoring, drilling instrumentation, vessel management systems, marine advisory systems, machinery plant control and monitoring systems, and closed circuit television systems.
The Company's strategy is to consolidate service providers to the offshore industry, as well as designers and manufacturers of subsea, surface, and offshore rig equipment used by major, independent, and foreign national oil and gas companies in deep-water exploration and production of oil and gas throughout the world. Deep Down's customers include BP Petroleum, Royal Dutch Shell, Exxon Mobil Corporation, Devon Energy Corporation, Chevron Corporation, Anadarko Petroleum Corporation, Marathon Oil Corporation, Kerr-McGee Corporation, Nexen Inc., BHP, Amerada Hess, Helix, Oceaneering International, Inc., Subsea 7, Inc., Transocean Offshore, Diamond Offshore, Marinette Marine Corporation, Acergy, Veolia Environmental Services, Noble Energy Inc., Aker Kvaerner, Cameron, Oil States, Dril-Quip, Inc., Nexans, Cabett, JDR, and Duco, among others. For further company information, please visit http://www.deepdowninc.com and http://www.electrowaveusa.com
One of our most important responsibilities is to communicate with shareholders in an open and direct manner. Comments are based on current management expectations, and are considered "forward-looking statements," generally preceded by words such as "plans," "expects," "believes," "anticipates," or "intends." We cannot promise future returns. Our statements reflect our best judgment at the time they are issued, and we disclaim any obligation to update or alter forward-looking statements as the result of new information or future events. Deep Down urges investors to review the risks and uncertainties contained within its filings with the Securities and Exchange Commission.
--- whatever, screw these filters
Posted by woswill on :
I think we bust $1.00 tomorrow
Posted by kywee on :
Opportunity here at .79 IMO
Posted by woswill on :
Wow whoever was thinking about DPDW but wanted to wait until cheaper missed a big opportunity today.
Rising steadily then profit takers took it down to .75
DPDW still closed even
Posted by woswill on :
chart was made by acjmstocks on i-hub
Recent News
On September 17, 2007 Deep Down, Inc. announced that it has exchanged 2,250 shares ($2,250,000 aggregate face value) of Series E Redeemable Exchangeable Preferred Stock ("Preferred Stock") from Ron E. Smith, President and CEO of Deep Down, and Mary L. Budrunas, director of Deep Down, for 2,250,000 shares of common stock.
The Preferred Stock had a face value and liquidation preference of $1,000 per share, no dividend preference, and was exchangeable at the holder's option after June 30, 2007, into 6% subordinated notes due three years from the date of exchange.
What does this mean? They believe the share price will be well over $1.00 in the near future.
Revenues
Deep Down generated revenue of $7,243,182 for the six months ended June 30, 2007, with cost-of-sales of $4,545,402, for a gross profit of $2,697,780, or 37.3%. Revenues for the second quarter ended June 30, 2007, were $5,144,788, [color=#FF0000]up 145%[/color] from $2,098,394 in revenue reported for the three months ended March 31, 2007. Gross profit for the second quarter ended June 30, 2007, was $1,851,475, or 36.0% of revenue, up from $846,305 in gross profit, or 40.3% of revenue, reported for the three months ended March 31, 2007. The increase in revenue resulted from the inclusion of ElectroWave revenue of approximately $950,000 during the second quarter, combined with significantly increased activity from our offshore subsea business.
Dahlman Rose
Deep Down, Inc. (OTC Bulletin Board: DPDW - News) today announced that Dahlman Rose & Company has initiated research coverage of the Company with a [color=#FF0000]BUY rating and a target price of $1.50 per share.[/color]
"In seven months since listing DPDW on the over-the-counter Bulletin Board® (OTCBB) exchange, [color=#FF0000]Deep Down's strategy of organic growth, coupled with strategic acquisitions of complementary industry service providers such as ElectroWave USA and our currently pending acquisition of Mako Technologies[/color], is gaining significant momentum," Chamberlain concluded.
Posted by kywee on :
Looking forward to a great week
Posted by woswill on :
Looks like the buzz about DPDW is getting around
BoonMarket.com Launches Coverage of Deep Down, Inc.
M2 PressWIRE - September 18, 2007 - SANTA BARBARA, CA .-- BoonMarket.com announced today their renewed interest in Deep Down, Inc. (OTCBB: DPDW). DPDW has been mentioned on BoonMarket.com in the past and recent developments within the company have compelled BoonMarket.com to closely follow the company once again.
Posted by 10of13 on :
September 27, 2007 - 10:42 AM EST
Deep Down Delivers Intelligent In-Line Winch System for Offshore Deployment HOUSTON, Sept. 27 /PRNewswire-FirstCall/ -- Deep Down, Inc. (OTC Bulletin Board: DPDW) today announced it has delivered and installed the first of two active heave compensated in-line winch systems to Schlumberger, Inc.
Deep Down believes there is sufficient demand in the offshore market to support the development of a new line (Proteus(TM)) of custom-engineered active-heave compensated in-line winch systems to complement the Company's existing product and service capabilities. This equipment can be installed in-line on existing winch systems to add active heave compensation capabilities. Depending on the custom-engineered requirements of its customers, the Company expects to deliver these in-line systems at prices ranging from approximately $500,000 to $1,000,000 each. Due to proprietary and confidentiality considerations, the Company cannot disclose the price of these systems delivered to Schlumberger, Inc., nor the area of deployment.
Deep Down recently completed a project for Schlumberger, Inc. requiring the engineering and design of an intelligent control system to manage the recovery and deployment of equipment, machinery, and other payloads in subsea environments. Active heave compensation systems are installed on seagoing vessels and drilling rigs to reduce the heave, or vertical movement, that subsea payloads experience due to wave activity. They are typically used when precision well logging or drill hole monitoring operations are being performed, or for specific ROV operations. In many cases, it is critical to keep these payloads stable while the surface deployment vessel is moving vertically from large oceanic swells.
The system was designed to maintain vertical displacement of a subsea payload to within six-tenths of an inch even if the surface deployment vessel, or ship, is experiencing a heave of up to 30 feet. The control system monitors these vertical motions and compensates by releasing and retrieving the main winch to keep the payload essentially still.
'The development of our Proteus(TM) line of active heave compensated winch systems is a prime example of the opportunities that are available to us through the collaborative efforts of Deep Down and ElectroWave. We expect this collaboration to continue as we seek to meet the growing demands of our customers for solutions to challenges in ultra deepwater environments,' commented Ron Smith, president of Deep Down.
Posted by 10of13 on :
This is getting some attention... .80 fell and .82 up next...hoping it may have an afternoon run...
Posted by 10of13 on :
Bid appears to be building... .82 falling and .84 up next
Posted by kywee on :
.82 x .84
Posted by 10of13 on :
Last .85
b/a .84/.86 this moves rather easily...volume is up...
Posted by kywee on :
.85 x .88 great movement
Posted by 10of13 on :
LOL..Kywee...looks to be just you and I on this one today... covered my original and riding free...lets go!!
Posted by captain america on :
Im here!..my internet keeps fading in and out! What luck..dang im missing all the fun..lol
Posted by 10of13 on :
Hey Captain! Well...you can just take quick peaks before it fades...and hopin' each peak will be a few cents higher!
Posted by kywee on :
Yea I executed one sell on the ask. Will dish them out on the way up.
Nice job 10of
.89
Posted by renrob05 on :
quote:Originally posted by 10of13: LOL..Kywee...looks to be just you and I on this one today... covered my original and riding free...lets go!!
Still have my .20 shares. I hardly ever check out the daily action.
Posted by captain america on :
well im back on..lol are we in the middle of a final shake before the end of the day?
Posted by woswill on :
Told you guys this stock was the real deal..
No other otcbb stock has a camera system that lets you actually see what they're working on!!
Posted by captain america on :
not often do you see an otcbb stock drop a name like Schlumberger in a PR. as one of their clients.
Posted by GlassCrasher on :
Another fine day today. I don't know if anyone was watching L2 today, but it was amazing how many large blocks were going off. NITE was trying so hard to put the clamps on at .90, but she finally broke it and finished at the HOD at .93 Major accumulation has been going on here for the past month and continues each day. This is one of the strongest stocks on the OTC, and it won't be on the bulletin boards much longer IMHO. Watch for the dollar break next week!
Peace
Posted by kywee on :
I had to leave before the close, but great EOD action. .93 close is very nice.
Posted by 10of13 on :
Movin' nice today! up 21% and still going!!!
Posted by kywee on :
Another great day. Shaved some at 1.13
Posted by 10of13 on :
Sure would like to get a fill under a buck!
Posted by 10of13 on :
Dang it...didn't get filled...
Posted by kywee on :
Good call 10. If this dips anymore I'm going to look for another purchase.
Posted by 10of13 on :
I agree kywee...I was looking for that gap to completely fill...seems it should have went to at least .94...I had a buy at .95 and didn't get it... Looking forward to the coming days on this one..
Posted by T e x on :
plenty of time for that gap to fill and still maintain the trend...
Posted by GlassCrasher on :
No gap filling anytime soon!!! LOL!!! News released just before closing, up .21 cents :
Deep Down Announces Over $30 Million in Flotation Orders Wednesday October 3, 3:55 pm ET
HOUSTON, Oct. 3 /PRNewswire-FirstCall/ -- Deep Down, Inc. (OTC Bulletin Board: DPDW - News) announced today 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. ADVERTISEMENT
Deep Down has an exclusive agreement with Matrix to introduce their complete product line to the U.S. Market. These contracts establish Matrix as one of the world's premier suppliers of syntactic foam drilling riser flotation modules. These modules are used to provide buoyancy and reduce the weight of the riser string, thus allowing drilling in deeper depths with less tension.
Matrix is providing their proprietary syntactic foam formulation coupled with a practical, damage resistant module design. Deep Down is working closely with Matrix to optimize the mix of products and services that can be jointly offered to the marketplace. Deep Down is currently acting as an agent and expects to earn over $600,000 in commissions, after expenses, on these orders.
"Although Deep Down will not record the revenue on its financial statements, it is important to note that the $600,000 in commissions is essentially unencumbered by expense and falls to the bottom line as pretax profit. We expect these fees to be collected in various installments over the next 18 months," commented Eugene L. Butler, Deep Down's chief financial officer.
In addition to drilling riser flotation, Matrix offers buoyancy for ROVs, subsea deployment, distributed buoyancy modules and other subsea applications. Matrix also offers a complete range of molded polyurethane products including, bend restrictors, bend stiffeners, VIV suppression strakes, clamping systems, and cable and flowline protection.
About Deep Down, Inc.
Deep Down specializes in the provision of innovative solutions, installation management, engineering services, support services, custom fabrication, and storage management services for the offshore subsea control, umbilical, and pipeline industries. The company fabricates component parts of subsea distribution systems and assemblies that specialize in the development of subsea fields and tie backs. These items include umbilicals, flow lines, distribution systems, pipeline terminations, controls, winches, and launch and retrieval systems, among others. Deep Down provides these services from the initial field conception phase, through manufacturing, site integration testing, installation, topside connections, and the final commissioning of a project. The Company's ElectroWave subsidiary offers products and services in the fields of electronic monitoring and control systems for the energy, military, and commercial business sectors. ElectroWave designs, manufactures, installs, and commissions integrated PLC and SCADA based instrumentation and control systems, including ballast control and monitoring, drilling instrumentation, vessel management systems, marine advisory systems, machinery plant control and monitoring systems, and closed circuit television systems.
The Company's strategy is to consolidate service providers to the offshore industry, as well as designers and manufacturers of subsea, surface, and offshore rig equipment used by major, independent, and foreign national oil and gas companies in deep-water exploration and production of oil and gas throughout the world. Deep Down's customers include BP Petroleum, Royal Dutch Shell, Exxon Mobil Corporation, Devon Energy Corporation, Chevron Corporation, Anadarko Petroleum Corporation, Marathon Oil Corporation, Kerr-McGee Corporation, Nexen Inc., BHP, Amerada Hess, Helix, Oceaneering International, Inc., Subsea 7, Inc., Transocean Offshore, Diamond Offshore, Marinette Marine Corporation, Acergy, Veolia Environmental Services, Noble Energy Inc., Aker Kvaerner, Cameron, Oil States, Dril-Quip, Inc., Nexans, Cabett, JDR, and Duco, among others. For further company information, please visit http://www.deepdowninc.com and http://www.electrowaveusa.com
One of our most important responsibilities is to communicate with shareholders in an open and direct manner. Comments are based on current management expectations, and are considered "forward-looking statements," generally preceded by words such as "plans," "expects," "believes," "anticipates," or "intends." We cannot promise future returns. Our statements reflect our best judgment at the time they are issued, and we disclaim any obligation to update or alter forward-looking statements as the result of new information or future events. Deep Down urges investors to review the risks and uncertainties contained within its filings with the Securities and Exchange Commission.
--------------------------------------------------------------------------------
Posted by a surfer on :
wow nice EOD spike!
Posted by kywee on :
A big surprise. What a fun ride.
Posted by a surfer on :
I have had this marked since June and never pulled the trigger....
Looks like promising times ahead.
Posted by kywee on :
What allowed me to pull the trigger was the talk over at ihub and I have just been selling at the ask all the way up, which takes away so much stress...
Posted by wes19c on :
Got in this at .52 a few months back and i'm not letting go! This is an amazing stock, a true gem. It has the fundamentals of a big board stock. The PR released today was HUGE. IMO We could possibly see an uplisting in the not too distant future and the current prices are going to be a bargain
Posted by T e x on :
don't get carried away...
as a chart-play, is doing well, although a bit slow on the uptake.
lol, that *could* be good...but I wouldn't hand this over to auto-pilot, just yet...
Posted by wes19c on :
I have more faith in this stock than some of my big board plays. This has a very very low float, so when it moves....it really moves. Not to mention this company will only continue to grow at a very fast pace. With news like today's, IMO a $3 or $4 PPS is not out of the question by EOY. It may also receive an upgrade very very soon. These are jmho's and just a couple of the reasons i am staying long and strong in DPDW!
Posted by 10of13 on :
Hot Damn...gapping up 1.34...Fantastic! Still wish i would have been able to get more under a buck...but I refused to pay that extra penny! (Idiot!)... Posted by 10of13 on :
Ok..today's gap has been filled! If this keeps up i may get my fill under the buck!
Posted by kywee on :
Released some more at 1.32. I'm thinking next release will be low 1.50's. We'll see
Posted by 10of13 on :
October 5, 2007 - 9:18 AM EST
Deep Down Reduces Indebtedness by $1,810,000 HOUSTON, Oct. 5 /PRNewswire-FirstCall/ -- Deep Down, Inc. (OTC Bulletin Board: DPDW) today announced it has exchanged 1,250 shares ($1,250,000 aggregate face value) of Series E Redeemable Exchangeable Preferred Stock ('Preferred Stock') for 1,213,592 shares of common stock in an agreement reached on October 2, 2007, when the closing price was $1.03 per share. The Preferred Stock had a face value and liquidation preference of $1,000 per share, no dividend preference, and was exchangeable at the holder's option after June 30, 2007, into 6% subordinated notes due three years from the date of exchange.
In addition, Deep Down announced that it has agreed to eliminate an obligation to pay $20,000 per month for the next 28 months, or an aggregate of $560,000, by exchanging this obligation for 543,689 shares of common stock. This agreement was also reached on October 2, 2007. Please reference a news release dated August 14, 2007.
'With this Preferred Stock transaction, we have reduced indebtedness by another $1,810,000, thereby continuing our efforts to strengthen Deep Down's balance sheet and improve the overall liquidity and financial strength of the Company,' commented Robert E. Chamberlain, Jr., Deep Down's chairman. 'We will continue to pursue those efforts whenever management considers it prudent to do so.'
About Deep Down, Inc.
Deep Down specializes in the provision of innovative solutions, installation management, engineering services, support services, custom fabrication, and storage management services for the offshore subsea control, umbilical, and pipeline industries. The company fabricates component parts of subsea distribution systems and assemblies that specialize in the development of subsea fields and tie backs. These items include umbilicals, flow lines, distribution systems, pipeline terminations, controls, winches, and launch and retrieval systems, among others. Deep Down provides these services from the initial field conception phase, through manufacturing, site integration testing, installation, topside connections, and the final commissioning of a project. The Company's ElectroWave subsidiary offers products and services in the fields of electronic monitoring and control systems for the energy, military, and commercial business sectors. ElectroWave designs, manufactures, installs, and commissions integrated PLC and SCADA based instrumentation and control systems, including ballast control and monitoring, drilling instrumentation, vessel management systems, marine advisory systems, machinery plant control and monitoring systems, and closed circuit television systems.
The Company's strategy is to consolidate service providers to the offshore industry, as well as designers and manufacturers of subsea, surface, and offshore rig equipment used by major, independent, and foreign national oil and gas companies in deep-water exploration and production of oil and gas throughout the world. Deep Down's customers include BP Petroleum, Royal Dutch Shell, Exxon Mobil Corporation, Devon Energy Corporation, Chevron Corporation, Anadarko Petroleum Corporation, Marathon Oil Corporation, Kerr-McGee Corporation, Nexen Inc., BHP, Amerada Hess, Helix, Oceaneering International, Inc., Subsea 7, Inc., Transocean Offshore, Diamond Offshore, Marinette Marine Corporation, Acergy, Veolia Environmental Services, Noble Energy Inc., Aker Kvaerner, Cameron, Oil States, Dril-Quip, Inc., Nexans, Cabett, JDR, and Duco, among others. For further company information, please visit http://www.deepdowninc.com and http://www.electrowaveusa.com.
One of our most important responsibilities is to communicate with shareholders in an open and direct manner. Comments are based on current management expectations, and are considered 'forward-looking statements,' generally preceded by words such as 'plans,' 'expects,' 'believes,' 'anticipates,' or 'intends.' We cannot promise future returns. Our statements reflect our best judgment at the time they are issued, and we disclaim any obligation to update or alter forward-looking statements as the result of new information or future events. Deep Down urges investors to review the risks and uncertainties contained within its filings with the Securities and Exchange Commission.
SOURCE Deep Down, Inc.
Posted by 10of13 on :
October 5, 2007 - 10:18 AM EST
Deep Down Announces $3,000,000 Private Placement HOUSTON, Oct. 5 /PRNewswire-FirstCall/ -- Deep Down, Inc. (OTC Bulletin Board: DPDW) today announced 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 or before Friday, October 12, 2007.
'Proceeds of this private placement will be used for working capital and general corporate purposes, which may include, but not be limited to capital expenditures, acquisitions, and other strategic uses,' commented Eugene L. Butler., Deep Down's chief financial officer. 'This transaction reinforces our continuing effort to strengthen our financial position as we prepare ourselves for further growth in accordance with our business plan.'
About Deep Down, Inc.
Deep Down specializes in the provision of innovative solutions, installation management, engineering services, support services, custom fabrication, and storage management services for the offshore subsea control, umbilical, and pipeline industries. The company fabricates component parts of subsea distribution systems and assemblies that specialize in the development of subsea fields and tie backs. These items include umbilicals, flow lines, distribution systems, pipeline terminations, controls, winches, and launch and retrieval systems, among others. Deep Down provides these services from the initial field conception phase, through manufacturing, site integration testing, installation, topside connections, and the final commissioning of a project. The Company's ElectroWave subsidiary offers products and services in the fields of electronic monitoring and control systems for the energy, military, and commercial business sectors. ElectroWave designs, manufactures, installs, and commissions integrated PLC and SCADA based instrumentation and control systems, including ballast control and monitoring, drilling instrumentation, vessel management systems, marine advisory systems, machinery plant control and monitoring systems, and closed circuit television systems.
The Company's strategy is to consolidate service providers to the offshore industry, as well as designers and manufacturers of subsea, surface, and offshore rig equipment used by major, independent, and foreign national oil and gas companies in deep-water exploration and production of oil and gas throughout the world. Deep Down's customers include BP Petroleum, Royal Dutch Shell, Exxon Mobil Corporation, Devon Energy Corporation, Chevron Corporation, Anadarko Petroleum Corporation, Marathon Oil Corporation, Kerr-McGee Corporation, Nexen Inc., BHP, Amerada Hess, Helix, Oceaneering International, Inc., Subsea 7, Inc., Transocean Offshore, Diamond Offshore, Marinette Marine Corporation, Acergy, Veolia Environmental Services, Noble Energy Inc., Aker Kvaerner, Cameron, Oil States, Dril-Quip, Inc., Nexans, Cabett, JDR, and Duco, among others. For further company information, please visit http://www.deepdowninc.com and http://www.electrowaveusa.com. Posted by kywee on :
Hit 1.55 today and closed at 1.50
I'm looking for 1.80's to sell next
Posted by GlassCrasher on :
Very nice day. Solid institutional accumulation.
Posted by 10of13 on :
This puppy is still moving nicely!!!
Posted by 10of13 on :
Nice buys at 1.72!!!
Posted by 10of13 on :
Gotta admit...this is not an easy stock to "flip"...the dips just aren't "good"...but it seems...at least at the moment...a "safe" hold...gaining 5-15% each day...kinda nice Posted by jerzydevil on :
Glad I got in at .47 back in May. Posted by 10of13 on :
Great buy jerzy...seems someone else said they got in at .20 and I thought I had done well in the .60's...! Only wish I would've put more in...but I am flipping when i can to get more shares...AND I have already covered my initial...so for now...things here are great! Posted by SherriT on :
Beautiful play here! Congrats my friend ;-)
Posted by woswill on :
Got back in today..
This stock is on a rampage, theres realistically NO resistance at all.
Read on IHub a guy emailed them and they said the Mako Tech deal should be finalized soon which is even better for the company
I personally would'nt be surprised seeing $2.50 by EOY. No, its not me talking out of my ass either. DPDW has a HUGE client list, their next earnings will be a blowout. Those proteus units sell for $500,000 to $1,000,000 EACH and they've already sold two of those. Company is constantly reducing debt.
HOUSTON, Oct. 3 /PRNewswire-FirstCall/ -- Deep Down, Inc. (OTC Bulletin Board: DPDW - News) announced today 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
Stock currently at $1.70, RIDICULOUSLY undervalued for a company bringing in massive profits.
FRPT started the same way, otcbb stock and is now trading in the $20 range
Posted by Stockstar69 on :
Is this stock for real?
The last few days have been rediculous!
Posted by SherriT on :
Yes, this stock is for real, and it is a very good one - you will see it on the big boards one day....IMHO.
Posted by kywee on :
Crazy gains...Shaved more at 1.7
Still holding a nice position. I really have no idea where this is going, but it's a fun ride for sure.
Posted by Stockstar69 on :
Up to 1.75...Seems to go up every day lately.
COOOL!
Posted by woswill on :
For those waiting for a pullback or consolidation.. good luck
I was waiting for a pullback.. it never happened, missed out on huge potential gains, this stock has plenty of room to run imo
Posted by Stockstar69 on :
quote:Originally posted by Stockstar69: Up to 1.75...Seems to go up every day lately.
COOOL!
Well it figures...
Up up up, I decide to buy some and it stalls.
ARGHH! Go up damitt!
Posted by 10of13 on :
HERE'S A PULL BACK.... .20 flip...whoo hoo...
FWIW...keep an eye on Arca...it may be nothing...but ...hmmmm
Posted by GlassCrasher on :
Nicely done 10of13, this stock is extremely difficult to flip
Posted by 10of13 on :
Thanks GC Usually I have to sell at a high on one day and wait until the next to get back in...never selling all...only part... Still have funds to see if it goes down a little more... I am thinking it may close red today...it hasn't in a few days...
Posted by Stockstar69 on :
Well, Hopefully it's just a slight pull back today.
The more I find out about this company the more I LIKE IT!
Posted by 10of13 on :
Stockstar..i think it's cause you jumped in...J/K I'm waitin' until tomorrow to pull the trigger on more...
Posted by Stockstar69 on :
quote:Originally posted by 10of13: Stockstar..i think it's cause you jumped in...J/K I'm waitin' until tomorrow to pull the trigger on more...
Yep...I may need to change my handle to Stockreaper...LOL Posted by stocktrader22 on :
have done nothing here in research and know nothing about the company, but does look like it has any parallels to fprt?
Posted by kywee on :
IMO somewhat it does, but I have not done anything except compare the charts, which doesn't mean anything.
Posted by T e x on :
quote:Originally posted by kywee: IMO somewhat it does, but I have not done anything except compare the charts, which doesn't mean anything.
me, too--never looked at fundies, but charts were showing this kind of strength for quite a while.
Continuance? no clue...haven't looked again since I was chatting with Renee about it...
Posted by Stockstar69 on :
Morning folks! What will the day bring?
I say we go back up after taking a small nap yesterday.
Posted by woswill on :
I agree Stockstar
Posted by kywee on :
quote:Originally posted by Stockstar69: Morning folks! What will the day bring?
I say we go back up after taking a small nap yesterday.
I'm holding tight today
Posted by 10of13 on :
Still holding...AND still thinking that we go down a little more...maybe 1.28 or so...hoping to grab more...up or down..I'm good!
Posted by Stockstar69 on :
Good to see you 10of13!
1.28..Noooooo (I hope not) Maybe 1.90 by EOD.
Posted by 10of13 on :
Stockstar...i'll take 1.90!!! Let's go!!!
Posted by 10of13 on :
1.31
Posted by 10of13 on :
It hit the 1.28...IMO...needs to stay at or above...or we could see the next support... looks like there are a few mirror trades and games being played.. But if I recall the last time I noticed this it went up considerably
Posted by jerzydevil on :
Damn....my sell order triggered at 1.28. I hate when that happens. Its like they know when someone has a stop setup. Oh well, can't complain about 273% gains.
Posted by Stockstar69 on :
HOUSTON, Oct 11, 2007 /PRNewswire-FirstCall via COMTEX/ -- Deep Down, Inc. (DPDW, Trade ) today announced that Lieutenant Commander Gregory Boucher, recently retired from the United States Navy, will join ElectroWave USA, Inc. (subsidiary) as marine systems manager on October 16, 2007. His primary focus will be on servicing the growing number of commercial and government clientele including energy related companies, major shipyards, the U.S. Navy, and the U.S. Coast Guard.
Lieutenant Commander Boucher has served in numerous positions of responsibility including deck department, combat systems, and operations over his 23-years of Naval Service. In his most recent command, Lieutenant Commander Boucher served as Executive Officer of the Navy Operational Support Center in San Antonio, Texas. He is distinguished in his highly decorated Naval career having been promoted from the enlisted ranks to Surface Warfare Officer. He has served in numerous key positions ranging from officer-of-the-deck, tactical action officer, and engineering officer of the watch, to force protection.
With over nine-years of consecutive sea duty on four capital warships and assault craft Unit Five (hovercraft), Lieutenant Commander Boucher brings a wealth of military and marine experience, expertise, and contacts to Deep Down and its subsidiaries.
Posted by Stockstar69 on :
Another late PR!
WOW, it's a good one too.
Posted by woswill on :
Did anyone else notice the ask being $2.00 during the day?
They must be hurting for shares.. everyone knows this stock is undervalued so the shares are being gobbled up for safekeeping
Posted by wdcisco on :
I am going to buy this one tomorrow. I had the opportunity to buy it really low today but I didn't go for it...I'm not gonna let it happen again
-Alex
Posted by woswill on :
nvm my last post, tda messed up on quotes..
Government contracts will be HUGE for DPDW..
Another stock that started similar to DPDW is FRPT, which is now in double digits.
DPDW is to the Navy as FRPT is to the army!!
Posted by wdcisco on :
woswill are you in this one? Slowly increasing like frpt...It'll hit 30-40 in a year.
Posted by GlassCrasher on :
I smell some government contracts coming our way!
Posted by wdcisco on :
I can taste it...
Posted by captain america on :
frpt and dpdw ..if i can remember right didnt frpt hire a military guy to help run frpt? I cant find the pr hmm?
Posted by T e x on :
quote:Originally posted by captain america: frpt and dpdw ..if i can remember right didnt frpt hire a military guy to help run frpt? I cant find the pr hmm?
might try a search on "repoman" & "frpt" & "officer" ... or sumpin' similar...
Posted by captain america on :
thanks tex
Posted by T e x on :
sure, man...
am trying to get back up to speed on this issue...
Posted by a surfer on :
jeez... all this talk of the next FRPT is making me hungry for some.
Posted by kywee on :
I don't know whether to take it as a mediocre pump or legit time frame contracts.
Posted by captain america on :
very transparent with their operations just check out their cameras . http://www.deepdowninc.com/index.htm login : DDI password ddi
Posted by wdcisco on :
Dude, capt'n! I am in OREGON too. What part are you in?
Anyway...This sucker is gunna go. I agree with you..transparent is a good thing.
How did you get the login for the cameras? Just curious... Posted by captain america on :
eugene,OR.. you?
did you check out the cameras? pretty cool i think. I hub had the info on the dpdw board.
steve hagg from thier IR is very helpfull too drop him a e-mail or phone call
-Steve Haag investor relations
Deep Down, Inc. (OTCBB: DPDW) ir*deepdowninc.com
281-862-2201 (O) 281-862-2522 (F
Posted by wdcisco on :
I am on the Oregon Coast. The rainy season has started Saw the cameras...Real neat. I am looking to buy a bunch of dpdw tomorrow, and might give Steve-o a jingle too.
What time does trading start 6:30 - 1:00? Just making sure because you are in my time zone.
Thanks for the info.
Posted by molong on :
I'm ready for this to run was able to get in at 1.09 on 10-1-07. It's been good so far
Posted by woswill on :
Good morning DPDW'ers!!
Posted by 10of13 on :
Wondering the same...
quote:Originally posted by kywee: I don't know whether to take it as a mediocre pump or legit time frame contracts.
Posted by wdcisco on :
1.51x1.66 I am looking for a good spot to get in.
Posted by T e x on :
I'm showing 1.62 x 1.64
watching this today... can't get a handle on it.
Anybody following this got an opinion on today's volume?
Posted by wdcisco on :
Yeah..your right.
alotta volume.
I am waiting for a dip or something?
Posted by 10of13 on :
Tex...As of Wednesday I thought that there was a little bit of "diluting" going on...wondering if they are "selling" into the news?
i made a post the other day about ARCA...he was on the ask with a large order...and then gone...he was never on the bid side...today he is on the ask again (not so large an order)...but not on the bid side...
Posted by T e x on :
ahhh... good to know.
Shoot, I don't even know the share structure, but I do see the big, red candle...
Posted by wdcisco on :
Stock is dipping, 1.57
Posted by 10of13 on :
ARCA is "gone"...will it go up now?
Posted by wdcisco on :
Welcome to DIPtown!
Posted by 10of13 on :
Arca's back and peeps are selling under the bid? WTH...?! Oh well..hopin' it moves back up when what ever is going on is done... Have a good weekend peeps!
Posted by T e x on :
That's been my problem: "Who's selling?"
Have decided what I think--is gonna channel in this area, then test 1.20s...
Posted by kywee on :
IMO the day traders & weak hands are selling from the previous run. This happens with every stock that goes up with those gains.
The ability to get back and past those levels will determine the strength. I just don't know which way it will go, but I am leaning towards up as of now.
Posted by kywee on :
Deep Down Announces Research Report by Tuohy Brothers
HOUSTON, Oct 12, 2007 /PRNewswire-FirstCall via COMTEX/ -- Deep Down, Inc. (OTC Bulletin Board: DPDW) today announced that Tuohy Brothers Investment Research, Inc. (MEMBER: NASD/SIPC) has issued an unsolicited research report on the Company. Tuohy Brothers Investment Research, Inc. is a New York based independent energy research boutique providing fundamental equity research designed to compliment, not duplicate, traditional "Street" research. Tuohy Brothers provides insightful analysis of energy industry trends, commodity markets and individual companies to institutional investors. Tuohy Brothers' Director of Research Steven Parla, CFA, can be reached at 212-605-0450.
Sounds like another DR
Posted by kywee on :
Going up. A solid green day would be a great sign IMO.
Posted by kywee on :
1.60 wall is falling
Posted by wdcisco on :
I still haven't bought yet I am waiting for a real good low.
Posted by kywee on :
Uhhh wtf...
Deep Down Announces Upward Revision by Dahlman Rose
HOUSTON, Oct 12, 2007 /PRNewswire-FirstCall via COMTEX/ -- Deep Down, Inc. (OTC Bulletin Board: DPDW) today announced that Dahlmann Rose & Company, LLC (MEMBER: NASD/SIPC) has reaffirmed its BUY rating and revised its target price to $2.50 per share. Dahlman Rose is a full-service investment bank offering value-added research, trading, and advisory services for growing companies operating along the energy and commodity supply chain. It is a leading boutique investment bank specializing in the marine shipping and energy industries with offices in New York, Houston, San Francisco, and New Orleans. Further information on Dahlman Rose may be obtained at http://www.dahlmanrose.com. Posted by kywee on :
Say hello $2.00
Posted by wdcisco on :
Kywee what does this mean?
Posted by wdcisco on :
Wow you answered before I asked the question. Excellent. Posted by Free Muney on :
dpdw is running. from red early today to 10%+, I luv green volitility. good reasearch news for BB stocks is always good.
Posted by Free Muney on :
3 press releases in 2 days? is that not really high for a bb stock?
Posted by GlassCrasher on :
Just buy this stock and hold it for 5 years. You will be very happy.
Posted by wdcisco on :
I am really tempted right now to buy in at 1.66.. but I am gonna hold of until it hits lower. Posted by wdcisco on :
I don't see it dipping at all!
Posted by 10of13 on :
Checkin' in real quick...after the "pr's" pump stuff that was released...it might be a couple of days before you can get it much lower...If it pushes past 1.75...$2 is going to be a major resistance...IMO...good luck
quote:Originally posted by wdcisco: I am really tempted right now to buy in at 1.66.. but I am gonna hold of until it hits lower.
Posted by wdcisco on :
Thanks man...I'll post back if I BUY.
Posted by wdcisco on :
LOL...I only got 100 shares at 1.71. I waited till the last minute.
Posted by wdcisco on :
What time does after market start pst? Its 1:00 here.
Posted by woswill on :
I cant believe some of you guys didnt buy in when DPDW was $1.30 yesterday
Oh well, your loss.. The stock is ridiculously undervalued and people still didn't want to get in because of a few pennies
Dahlman Rose makes low price targets for them to be reached to build credibility!!
This $2.50 price target will be reached with ease!
Posted by wdcisco on :
Is there an aftermarket time I can buy? Or do I have to wait 'till monday?
Posted by woswill on :
You gotta pay like 30% more to get shares afterhours
Posted by wdcisco on :
Holy crap. I'll wait. I will buy 1000 shares monday.
Posted by wdcisco on :
Are you sure 30%? Its not the same?
Posted by T e x on :
depends on the broker--read your "After-market & Pre-market" disclaimer at your trading Web site...
Posted by wdcisco on :
TERMS and CONDITIONS Trading through ECN Extended Hours session on the ECN is subject to the terms and conditions ("Terms") and policies set forth by Banc of America Investment Services, Inc. ® and National Financial Services LLC (NFS) and subject to change without notice. Trading in the pre-market session may not be available to all users. Users of the extended hours trading session should contact your Investment Representative to determine the availability of pre-market trading. By using the ECN Extended Hours trading facility, you acknowledge your understanding of the risks set forth above and your agreement to the Terms set forth below. We reserve the right not to accept an order for the ECN Extended Hours session at their discretion and will attempt to notify you if your order is not accepted. We will only accept limit orders for ECN Extended Hours trading. You must indicate a specific price at which you are willing to buy or sell the security you are interested in. You may not trade against an order entered by you. In other words, you may not buy securities you offered for sale in the ECN, and vice-versa. All orders must be in lots of 100 shares. The maximum order size is 100,000 shares. Prices must be entered in decimals. Only certain securities will be eligible for trading through the ECN Extended Hours session, so all orders must be for securities traded on the ECN. If a stock normally traded on the ECN closes on a trading halt in its primary market, or trading is later halted by its primary exchange or a regulatory authority, trading of that stock will be suspended on the ECN. If ECN pre-market trading is available, orders can be placed from 7:30 A.M. to 9:15 A.M. Eastern Time. Orders entered between 7:30 A.M. and 8:00 A.M. will be collected and transmitted together to the pre-market session at 8:00 A.M and will be given priority according to time received. After this time, we will continue to send ECN pre-market orders as they are received until 9:15 A.M. Eastern Time unless trading is halted prior to 9:15 A.M. ECN after hours orders can be placed from 4:00 P.M. to 8:00 P.M. Eastern Time (After Hours Orders). After Hours Orders we receive will be sent to the ECN for execution in the order in which they are received. We will continue to send After Hours Orders to the ECN until 8:00 P.M. Eastern Time unless trading is halted prior to 8:00 P.M. If ECN pre-market trading is available, orders not filled during the ECN Pre-market session are automatically canceled if they are not filled by the end of the session (i.e., 9:15 A.M. Eastern Time unless trading is halted prior to 9:15 A.M.) during which they were placed. You must re-enter these orders during normal market hours if you still wish to have the trades executed. Orders not filled during the ECN after hours session are automatically canceled if they are not filled by the end of the session (i.e., 8:00 P.M. Eastern Time unless trading is halted prior to 8:00 P.M.) during which they were placed. You must re-enter these orders during normal market hours if you still wish to have the trades executed. Banc of America Investment Services, Inc. ® and NFS are not liable for delays in the transmission of orders due to a breakdown or failure of transmission, communication or data processing facilities, or for any other cause beyond our reasonable control. Transactions are subject to the applicable rules and regulations of the self-regulatory organizations and governmental authorities. Transactions are subject to all other agreements applicable to your account(s).
I don't see any extra charges?!
Posted by woswill on :
Theres not any extra "charges"
The MMs have the ask way above the pps during after hours..
Thats what i meant by saying you'll pay like 30% more for the stock afterhours
ie..
stock pps at .50 at close Afterhours you can expect it to be .75 or so
Posted by T e x on :
true...everything's worse: spreads, fills, price...
Posted by woswill on :
Hope we can get that Mako PR sometime this week
Should make DPDW hit that $2.50 price target quicker
Posted by T e x on :
another "theory" is that it would be better to get it later...*after* the analyst's point of 2.50 is reached.
I still look for a retrace before a significant climb...
Posted by wdcisco on :
quote:Originally posted by T e x: another "theory" is that it would be better to get it later...*after* the analyst's point of 2.50 is reached.
I still look for a retrace before a significant climb...
Now thats an idea.
Posted by woswill on :
quote:Originally posted by T e x: another "theory" is that it would be better to get it later...*after* the analyst's point of 2.50 is reached.
I still look for a retrace before a significant climb...
Just wondering, why would it be better to buy in after the $2.50 price target is reached?
There first target of $1.50 was reached then went around to $1.71 before slumping as low as $1.28, pretty significant drop.
Now its back to $1.70 and seems ready to continue the climb, imo
Posted by wdcisco on :
Oh I misunderstood Tex...I thought he was talking about how the price would shoot higher if the PR's were more spread.
I thought that was an idea.
Posted by T e x on :
quote:Originally posted by woswill:
quote:Originally posted by T e x: another "theory" is that it would be better to get it later...*after* the analyst's point of 2.50 is reached.
I still look for a retrace before a significant climb...
Just wondering, why would it be better to buy in after the $2.50 price target is reached?
There first target of $1.50 was reached then went around to $1.71 before slumping as low as $1.28, pretty significant drop.
Now its back to $1.70 and seems ready to continue the climb, imo
there *is* misunderstanding, here, partly my poor wording, I think. When I wrote "get it later," I was referring to the PR in question, not a buy-in point.
And, yes, I do think there's room for better PR management.
Posted by woswill on :
quote:Originally posted by T e x:
quote:Originally posted by woswill:
quote:Originally posted by T e x: another "theory" is that it would be better to get it later...*after* the analyst's point of 2.50 is reached.
I still look for a retrace before a significant climb...
Just wondering, why would it be better to buy in after the $2.50 price target is reached?
There first target of $1.50 was reached then went around to $1.71 before slumping as low as $1.28, pretty significant drop.
Now its back to $1.70 and seems ready to continue the climb, imo
there *is* misunderstanding, here, partly my poor wording, I think. When I wrote "get it later," I was referring to the PR in question, not a buy-in point.
And, yes, I do think there's room for better PR management.
I dont understand how they would improve their "PR management".
If Dahlman Rose upgrades the price target, DPDW is not going to wait until the pps is near it to release the PR.
Posted by wdcisco on :
quote:Originally posted by woswill:
quote:Originally posted by T e x:
quote:Originally posted by woswill:
quote:Originally posted by T e x: another "theory" is that it would be better to get it later...*after* the analyst's point of 2.50 is reached.
I still look for a retrace before a significant climb...
Just wondering, why would it be better to buy in after the $2.50 price target is reached?
There first target of $1.50 was reached then went around to $1.71 before slumping as low as $1.28, pretty significant drop.
Now its back to $1.70 and seems ready to continue the climb, imo
there *is* misunderstanding, here, partly my poor wording, I think. When I wrote "get it later," I was referring to the PR in question, not a buy-in point.
And, yes, I do think there's room for better PR management.
I dont understand how they would improve their "PR management".
If Dahlman Rose upgrades the price target, DPDW is not going to wait until the pps is near it to release the PR.
Why so sure? I think the price will jump higher if it gets to 2.50ish and the mako pr comes out right after. That way it seems that the 2.5 analysts had hit home..and more good news is out so DPDW looks like its on a winning streak (which it its) and more appealing = Price Rise..BONUS!...IMO. I'm just using common sense. Posted by woswill on :
quote:Originally posted by wdcisco:
quote:Originally posted by woswill:
quote:Originally posted by T e x:
quote:Originally posted by woswill:
quote:Originally posted by T e x: another "theory" is that it would be better to get it later...*after* the analyst's point of 2.50 is reached.
I still look for a retrace before a significant climb...
Just wondering, why would it be better to buy in after the $2.50 price target is reached?
There first target of $1.50 was reached then went around to $1.71 before slumping as low as $1.28, pretty significant drop.
Now its back to $1.70 and seems ready to continue the climb, imo
there *is* misunderstanding, here, partly my poor wording, I think. When I wrote "get it later," I was referring to the PR in question, not a buy-in point.
And, yes, I do think there's room for better PR management.
I dont understand how they would improve their "PR management".
If Dahlman Rose upgrades the price target, DPDW is not going to wait until the pps is near it to release the PR.
Why so sure? I think the price will jump higher if it gets to 2.50ish and the mako pr comes out right after. That way it seems that the 2.5 analysts had hit home..and more good news is out so DPDW looks like its on a winning streak (which it its) and more appealing = Price Rise..BONUS!...IMO. I'm just using common sense.
DPDW is not going to delay their PRs for stuff like that..
It would be more beneficial to us, but why should they wait?
They plan to uplist to big boards, so they seem pretty confident in the company
Posted by Stockstar69 on :
UPLIST? Sorry, I have not heard DPDW uplisting yet. Have they mentioned that?
Posted by 10of13 on :
FWIW..It is moving up and at the moment I do not see ARCA around...We will see if "he" shows up today and what the PPS does when he appears...looking good so far...(whoppin' 4 minutes into trading...haha)
Posted by wdcisco on :
I am in! WHOOOOO! YEAH! 1.80...
...YEAH! Posted by 10of13 on :
LOL..good luck wdcisco!!! Let's make some green! up over 5% today already!!
Posted by wdcisco on :
quote:Originally posted by 10of13: LOL..good luck wdcisco!!! Let's make some green! up over 5% today already!!
Yeah I am pumped...I'm not gonna sell....This sucker is long run. (6 months to a year).
FEELS GOOD! I'm all tingly. Posted by wdcisco on :
1.84!!
Posted by T e x on :
good start...
Posted by wdcisco on :
Tex are you in man?
Posted by wdcisco on :
1.79...150k volume
Posted by MoneyMoneyMoney on :
I bought in 1.37 on the dip the other day and just sold my shares 1.80. I believe it goes down to breathe and then will hit that target. I will buy back later when charts look better.
I will be buying more also IF it dips. Anything around $1.50 is rediculously cheap as we know were it's headed.
Now, back to my cushions scrounging for change.
Posted by 10of13 on :
MoneyX3!!! Where have you been?! Hope all is going well! I also agree that it goes down...been playing some great swings/dips on this one...
Posted by MoneyMoneyMoney on :
quote:Originally posted by 10of13: MoneyX3!!! Where have you been?! Hope all is going well! I also agree that it goes down...been playing some great swings/dips on this one...
How r ya? I'm doing good. Whew has it been busy the past year. After graduation from the nursing program my wife Trish and I took off to Europe, visiting Southampton, London, and Manchester England, Barcelona and Alghero Spain, Monte Carlo Monaco, Florence, Rome, and Sardinia Italy, Gibalter, then lastly but lots of fun too was Amsterdam . After that we came back and moved to Tulsa, Ok and had to stay with friends and family for months. Then just last month we purchased our first home and we love it so far. I just recently passed my RN state boards too and Trisha's pregnant with a lil girl we plan to name Olivia. LOL, told ya, LOTS going on so I'm sure ready to get back to trading and working full time. I sure have miss ya and all~ And bet ya'll've been quite busy too!
Posted by GlassCrasher on :
Why not just buy and hold this one? It's much easier than trying to flip.
Posted by 10of13 on :
Moneyx3...We'll catch up in PM..I've missed ya! Glasscrasher...i have been flipping half of my position at a time in order to get more shares...so far it has worked great...all free shares at the moment...but I do plan on "holding" to see how we do longer term... Today is doing nicely...still up over 6%!!!
Posted by MoneyMoneyMoney on :
Sounds good 10! DPDW definitely holding its own today, even with the charts looking not so hot.
GlassCrasher, I'll have to agree with 10 on her statement. "Free" shares are always best and reduces capital loss.
10, this reminds me of flipping IGAI for free shares before she shot up over 1000%, !
Posted by superman87 on :
Is there any good way to determine when a stock will dip and when it will start heading back up?
Posted by wdcisco on :
quote:Originally posted by superman87: Is there any good way to determine when a stock will dip and when it will start heading back up?
It there was a way to do that they wouldn't have stocks... Posted by wdcisco on :
1.82 x 1.85.. Posted by wdcisco on :
1.85 x 1.87...
Posted by T e x on :
1.96 x 1.98
looking to close strong, here...
this should shape up the charts.
Posted by wdcisco on :
FREERIDE!!!!WHOO!!!! I got in at 1.78 today...my limit was 1.8...I just found out.
My guess for close earlier today was 2.13... Wishfull thinking? YES.
Posted by 10of13 on :
Hot Damn!!! Just got in and checked... my last buy from the other day of 1.28 looks mighty sweet!!
Posted by GlassCrasher on :
DPDW, monster in the making.
Posted by wdcisco on :
Are you getting that tingly sensation of stock trading? IT HIT 1.99!
Posted by 10of13 on :
I'm going to be stupid and "flip" half my shares here...if it dips down..I'm good...if it goes up...I'm good! DPDW has been awfully nice to me the past few weeks!
Good luck all!
Posted by GlassCrasher on :
You got some balls 10!! Good luck!
Posted by T e x on :
1.99 prints...
Posted by 10of13 on :
Thanks GC!...Fingers ae crossed!
Posted by GlassCrasher on :
Bye bye 2 bux
Posted by T e x on :
great close...
nicely done, 10
Posted by wdcisco on :
quote:Originally posted by 10of13: I'm going to be stupid and "flip" half my shares here...if it dips down..I'm good...if it goes up...I'm good! DPDW has been awfully nice to me the past few weeks!
Good luck all!
2.02 !!! GREEN ALL OVER!
Posted by kywee on :
quote:Originally posted by kywee: Say hello $2.00
Shaved some more at 1.99
GLTA
Posted by 10of13 on :
Same here kywee...hopin it doesn't completely bite me in the butt!! Haha! Have a good night all!
Posted by kywee on :
I wouldn't look at it like that 10. I've been holding since under a dollar and have sold all the way up. The higher it goes, the lesser the blocks I shave and I will eventually end up with a long position.
Don't ever tell yourself that it's a bad idea to take profits.
Posted by molong on :
Great day this is hot. Got in at 1.09 on 10-1-07 Green all over.
Posted by woswill on :
Sold out at $2.00
Going to re enter tomorrow in the lower $1.90's then sell a a day or two from then, RSI will peg 90 then a small retrace
Posted by wdcisco on :
This ones gonna explode again tomorrow...it doesn't look like there will be 1.90s man.
Maybe some dips but not 1.90s...IMO.
What happened to long term?
Posted by woswill on :
quote:Originally posted by wdcisco: This ones gonna explode again tomorrow...it doesn't look like there will be 1.90s man.
Maybe some dips but not 1.90s...IMO.
What happened to long term?
I set a $2.00 sell order pre market not thinking it would get filled anyway, lol
Posted by wdcisco on :
quote:Originally posted by woswill:
quote:Originally posted by wdcisco: This ones gonna explode again tomorrow...it doesn't look like there will be 1.90s man.
Maybe some dips but not 1.90s...IMO.
What happened to long term?
I set a $2.00 sell order pre market not thinking it would get filled anyway, lol
Oh...Well...GET BACK ON THE WAGON!
Get in tomorrow...don't wait to save a few "pennies". In a few months this wil be double frickin' digits...JMO.
I believe you said something like that about me not buying 10/12: wdcisco: 10/12 "LOL...I only got 100 shares at 1.71. I waited till the last minute."
Woswill 10/12: "I cant believe some of you guys didnt buy in when DPDW was $1.30 yesterday
Oh well, your loss.. The stock is ridiculously undervalued and people still didn't want to get in because of a few pennies
Dahlman Rose makes low price targets for them to be reached to build credibility!!
This $2.50 price target will be reached with ease!"
********************************
oh yeah...*cough*
WHOOOOOOOOOOOOOO!!!!!
Posted by woswill on :
quote:Originally posted by wdcisco:
quote:Originally posted by woswill:
quote:Originally posted by wdcisco: This ones gonna explode again tomorrow...it doesn't look like there will be 1.90s man.
Maybe some dips but not 1.90s...IMO.
What happened to long term?
I set a $2.00 sell order pre market not thinking it would get filled anyway, lol
Oh...Well...GET BACK ON THE WAGON!
Get in tomorrow...don't wait to save a few "pennies". In a few months this wil be double frickin' digits...JMO.
I believe you said something like that about me not buying 10/12: wdcisco: 10/12 "LOL...I only got 100 shares at 1.71. I waited till the last minute."
Woswill 10/12: "I cant believe some of you guys didnt buy in when DPDW was $1.30 yesterday
Oh well, your loss.. The stock is ridiculously undervalued and people still didn't want to get in because of a few pennies
Dahlman Rose makes low price targets for them to be reached to build credibility!!
This $2.50 price target will be reached with ease!"
********************************
oh yeah...*cough*
WHOOOOOOOOOOOOOO!!!!!
I personally think there will be a dip to the $1.90's briefly, so im taking the chance to make some extra money..
When DPDW broke $1.00 the next day it had a dip so im counting on that to happen at $2.00 also
If no dip below $2.00 at all, ill just buy back in
Posted by woswill on :
For the record.. these are my opinions
Posted by dough boy on :
Why are you guys nickle and diming? The big money is made holding
Posted by woswill on :
quote:Originally posted by dough boy: Why are you guys nickle and diming? The big money is made holding
I got less than $2000 to work with..just being greedy trying to get every pennies worth
Posted by wdcisco on :
quote:Originally posted by dough boy: Why are you guys nickle and diming? The big money is made holding
I am not "nickle and diming"..I am in for the long run, man.
AND Woswill me and you are in the same boat..(money-wise). I have made really good paper money-just holding it.
Posted by wdcisco on :
Better get in soon woswill ...you were right...
Posted by 10of13 on :
looking for about 1.80 to grab more...
Posted by wdcisco on :
you got it man.
Posted by MoneyMoneyMoney on :
yup and I got my shares back . This ones hard to figure out with charts...
Posted by 10of13 on :
Only a patial...it will dip again today...IMO ARCA's Back at 2.08..let's watch.. Hey Moneyx3...I agree...I have been using the l2's and so far it's working great for me... Posted by maumee river rat on :
hello !!!
Posted by wdcisco on :
quote:Originally posted by maumee river rat: hello !!!
I know it just jumped..1.93! Most likely it will close higher than 2.02..hopefullr over 2.1! Posted by GlassCrasher on :
2.13 X 2.14 What a comeback! Retail sellers got eaten alive by institutional Sharks!!
Posted by kywee on :
3x 2.18 x 1x 2.19
Posted by wdcisco on :
Volume looks like it will go over 1 mi.!
Posted by wdcisco on :
2.17...Not bad Posted by SandRacer on :
Up 184%, for me, in a month and a half. I could get real used to this.
I didn't see any new PR today. Was there something I missed to explain all the activity, today?
Posted by superman87 on :
What's the chance of this going over the projected 2.50?
Posted by woswill on :
quote:Originally posted by superman87: What's the chance of this going over the projected 2.50?
Very good
Dahlman Rose makes these price targets very conservative so that it will be broken so they will gain credibility.
imo
Posted by wdcisco on :
woswill, did you get back in?
I am too new to this to start flipping. I am holding this baby steady. Posted by 10of13 on :
quote:Originally posted by maumee river rat: hello !!!
Holy crap!! Where the hell have you been?!
Great day here guys!!!
Posted by MoneyMoneyMoney on :
That it was 10! Glad I picked up my shares again at 1.82! Anymore dips and I'll purchase more.
Posted by woswill on :
quote:Originally posted by wdcisco: woswill, did you get back in?
I am too new to this to start flipping. I am holding this baby steady.
Yup i got back in cheaper than what i sold, not much cheaper.. but hey, its money
Posted by wdcisco on :
I am gonna put more in on the next dip... Rock and Roll. Find any news on mako?
Posted by wdcisco on :
YEAH look at my sig!
Posted by T e x on :
nice day, folks...
Posted by 10of13 on :
looks like we start the day with a dip!
Watching ARca on the ask at $2.40 Posted by Stockstar69 on :
Just bought more with the nice little pullback today!
Posted by 10of13 on :
ARCA is now on the bid at 1.99...but still on the ask at 2.40...we may have yet another dip before we move up...but so far today...i am liking the sideways type trading..."hold"...
Posted by wdcisco on :
Don't let the big guys suck up your shares.... Posted by GlassCrasher on :
Massive accumulation going on here. L2's are crazy.
Posted by wdcisco on :
2.05x2.07 580k vol.
Posted by wdcisco on :
An explosion in volume!
Posted by SandRacer on :
DPDW does seem to get much more active during the last 2 hours of trading.
As long as it continues to take 3 steps forward for every step backward, I'm staying put.
Posted by wdcisco on :
Same here Sandracer.
Posted by wdcisco on :
Hasn't moved for 37 minutes.
Posted by woswill on :
Looking good for the remainder of week
Posted by woswill on :
Posted by wdcisco on :
Woswill...Nice work. Posted by superman87 on :
dipping pretty low. ask down to 1.85
Posted by superman87 on :
and we're bouncing back up...
Posted by 10of13 on :
Haha...I wasn't around at open...but I had a GTC order from the other day for 1.84...and it took! Talk about pure luck! C'Mon DPDW...you're making me VERY happy...keep it up!!
Posted by 10of13 on :
ARCA jumped from $5.00 on the ask side to 2.02
Posted by wdcisco on :
Hey What is arca I can't find the ticker?
Posted by 10of13 on :
wd..i sent you a PM to try and explain...
Posted by wdcisco on :
Thanks 10of13. I sent you one too...
Posted by SandRacer on :
I learn something new every day. Had to go look up arca on Wikipedia.
I just couldn't resist, bought more during one of the dips today. I should have done it days ago. Oh well.
Posted by wdcisco on :
Where did you get those five stars from? Yeah man, I didn't know what it was either..look at the l2's...10of13 explained it to me..
Next: I need to learn candlestick chart reading!
Posted by SandRacer on :
I have no idea where the stars came from. Perhaps it's an omen of good things to come. ;-)
Posted by 10of13 on :
Sandracer...check out investopia.com...great place for all basic info...and it is GREAT that you took it upon yourself to look it up...that's the best way to learn!
ARCA went back on the ask side at 4.99...still not on the bid side...for those of you that don't know what the heck I am talking about...I probably don't either...haha...just been watching ARCA for a couple of weeks on this stock...you can read it in my past posts in this thread...
Posted by SandRacer on :
Thanks for the link. Stuck it in favorites. Now I don't have to Google and wander. Posted by woswill on :
quote:Originally posted by woswill:
Basing off this chart..
Tomorrow is poised to continue the money making for us.
When $1 was broken, the next 2 days trading was sideways.
Today is the 2nd day after $2 was broken..
Just basing my predictions off past history
Posted by jrtfan on :
Hope you're right. As a fairly new trader, I'd love to see this run a little. I got in early AM after checking out the info here and some research. Looking forward to tomorrow.
Posted by KublaKhan on :
How much money are you wagering in the hope that the past will repeat itself?
Posted by woswill on :
DPDW running out of sellers, look at the volume of the last 3 days
Posted by wdcisco on :
More buyers than sellers? Sounds good.
Posted by woswill on :
For some reason the chart isnt showing up
Posted by woswill on :
A very nice fundamental chart made by another poster at IHUB (not made by me)
Posted by Stockstar69 on :
Just a reminder...an analyst gave a price target of $2.50 a few weeks ago. That's a nice bump up from where we are at now.
Posted by kywee on :
I'll be looking for a point to make my second purchase as this is coming down.
Posted by wdcisco on :
kywee, did you get in?
Posted by kywee on :
Well I've been in, but no I didn't buy again. Not stable enough IMO
Posted by wdcisco on :
Yeah its been all over the place...Its the mm's IMO.
Posted by T e x on :
I think 10 of Suspicions is onto something...just can't get a handle on who sells this, at what seem like odd times/price points to me.
Posted by wdcisco on :
Whos 10 of Suspicions? Tex..Please explain..lol -wdcisco
Posted by T e x on :
sorry...
10of13...we kid around.
She wondered about possible dilution, earlier in the thread. I'm not ready to say that's what's going on, but I *do* wonder if there's some blocs outstanding that we traders haven't accounted for...
Posted by woswill on :
MMs have manipulated the price in the past in order for huge 40,000 block buys to go through.
Posted by T e x on :
quote:Originally posted by woswill: MMs have manipulated the price in the past in order for huge 40,000 block buys to go through.
How would something like that work? Can you explain the mechanics?
Posted by 10of13 on :
Hey Sir Tex... I'm not sure "who" either... Just logged on and I see ARCA on the ask...but not on the Bid...I haven't been able to watch for a couple of days...has anyone else noticed where he's been? Seems as long as we close at 1.80...we should be safe...if not the next "support"...is around 1.50... but the volume has been a little "less" in the past couple of days
quote:Originally posted by T e x: I think 10 of Suspicions is onto something...just can't get a handle on who sells this, at what seem like odd times/price points to me.
Posted by GlassCrasher on :
ARCA has done this plenty of times. I believe it is a Hedge Fund trying to intimidate retailers into selling, in order for them to fill their bid. I have watched this stock every day for over a year now. NITE and ARCA used to do this alot, especially NITE. NITE has backed off alot, ever since this broke 1 dollar. Has anyone here gotten a copy of the Tuohy Bros. unsolicited report on DPDW??? If you call them and ask for it, they refuse to deal with individual investors; they only deal with Hedge Funds, Mutual Funds and Institutional Funds. I am long DPDW, but obviously, it's trending down. I believe in the fundamentals and the management team they've assembled. Once ARCA is done scaring, they usually reverse their position and start pushing the bid hard. UBSS has also been a real prick lately, watch that fool. ABLE is on both sides, so he needs shares. I haven't seen PERT for days after he was heavy on the bid at 1.99. His ask is at 10 bucks now. Good luck trading this one! Float is very thin and moves fast once it gets going!
Posted by wdcisco on :
ARCA 0.0000 1000 12:10:51 AUTO 0.0000 -1 09:40:25
What are they doing?
Posted by wdcisco on :
quote:Originally posted by wdcisco: ARCA 0.0000 1000 12:10:51 AUTO 0.0000 -1 09:40:25
What are they doing?
' WHOOOOO! 2.00!
Posted by picknponies on :
perfect chart, this thing looks really good...soon to break out old high (again)....cant hold this down weeeeee
Posted by Free Muney on :
low volume today.... so far.
Posted by wdcisco on :
1.92 75k volume.. What was that did I just feel double digit potential buy end of 2008?
Posted by GlassCrasher on :
This thing moves on air now, float is locked up.
Posted by wdcisco on :
When you say "float is locked up" what is the meaning?
Anyway...GREEN! 1.97!
Posted by woswill on :
quote:Originally posted by wdcisco: When you say "float is locked up" what is the meaning?
Anyway...GREEN! 1.97!
By "float" being locked up he refers to the float basically being very small..
Theres are alot of longs on the ihub board that i know of for sure, plus institutional buying locks up more shares..
How many otcbb stocks you know that get the amount of coverage DPDW is getting? Dahlman Rose is so bullish they even set a price target. Once they was reached they actually revised it even higher! Oil will not get cheaper folks..The offshore industry is the next big boom imo
Anyways..
Looks like we're ready for another 5 day rally
=)
Posted by wdcisco on :
quote:Originally posted by woswill:
quote:Originally posted by wdcisco: When you say "float is locked up" what is the meaning?
Anyway...GREEN! 1.97!
By "float" being locked up he refers to the float basically being very small..
Theres are alot of longs on the ihub board that i know of for sure, plus institutional buying locks up more shares..
How many otcbb stocks you know that get the amount of coverage DPDW is getting? Dahlman Rose is so bullish they even set a price target. Once they was reached they actually revised it even higher! Oil will not get cheaper folks..The offshore industry is the next big boom imo
Anyways..
Looks like we're ready for another 5 day rally
=)
Yeah man...Thanks for explaining.
I can smell the PR's coming by friday. Just that feeling.
-wdcisco
Posted by a surfer on :
posted 24-10-2007 17:34 -------------------------------------------------------------------------------- GO PUMP SOMEWHERE ELSE! Get the **** out.
-------------------- I got in DPDW at 1.78. What is it now?
.....WHOOOOOOOOOOOO!
What???
Posted by T e x on :
quote:Originally posted by a surfer: posted 24-10-2007 17:34 -------------------------------------------------------------------------------- GO PUMP SOMEWHERE ELSE! Get the **** out.
-------------------- I got in DPDW at 1.78. What is it now?
.....WHOOOOOOOOOOOO!
What???
We had a spammer, pumping some miracle trading system. Had to delete about 5 threads and a few posts--may not have cleaned up as well as I should have...
Posted by wdcisco on :
quote:Originally posted by T e x:
quote:Originally posted by a surfer: posted 24-10-2007 17:34 -------------------------------------------------------------------------------- GO PUMP SOMEWHERE ELSE! Get the **** out.
-------------------- I got in DPDW at 1.78. What is it now?
.....WHOOOOOOOOOOOO!
What???
We had a spammer, pumping some miracle trading system. Had to delete about 5 threads and a few posts--may not have cleaned up as well as I should have...
Yeah...I was "politley advising" a pumper to leave our boards, you don't have to thank me....its ALL good because....
DPDW IS GREEN! WHOOOOOOOOOOOO! YEEHAW.
Posted by T e x on :
lol, good for you!
others complained about that whackjob, too--which is good. The more, the better...that way they figure out we won't put up with that junk...
Posted by a surfer on :
Roger that!
Nice work Tex!
Keepin the critters out.
Posted by T e x on :
you bet...but really, it's the great members here who make this a great board. Several jumped on that spammer...
Posted by wdcisco on :
I think it depends on your tactics...
"GO PUMP SOMEWHERE ELSE! Get the **** out."
...I couldn't think of any better way.
-wdcisco
Posted by Stockstar69 on :
Glad I missed the pumping...
Anyway, the price jumped 11% yesterday with lower volume. That's a good thing.
Posted by wdcisco on :
Stockstar...2.11!
ARCA has been off it for a couple days... I think his shares were sucked up...hopefully.
-wdcisco
Posted by wdcisco on :
Oh i am sorry i was wrong...
2.32!!!!!!!
Posted by Stockstar69 on :
Who's wrong? LOL
Go DPDW!
Posted by wdcisco on :
My previous quote...I got excited 'cause it went to 2.11. Then literally a couple minutes later it shot too 2.32...
2.35 HOD
CURRENT 2.1 BUT IT WILL GO. IMO.
Posted by woswill on :
Usually when DPDW rallys its at least a 5 day rally
Im expecting to break $2.60 by Wednesday
Posted by wdcisco on :
quote:Originally posted by woswill: Usually when DPDW rallys its at least a 5 day rally
Im expecting to break $2.60 by Wednesday
That would be nice. Got your eye on anything else Woswill?
Posted by woswill on :
quote:Originally posted by wdcisco:
quote:Originally posted by woswill: Usually when DPDW rallys its at least a 5 day rally
Im expecting to break $2.60 by Wednesday
That would be nice. Got your eye on anything else Woswill?
Not atm.. DPDW is keeping me busy lol
Posted by T e x on :
nice day here...congrats!
Posted by wdcisco on :
Thanks Tex. Are you getting any action?
Posted by T e x on :
lol...
loaded question Posted by 10of13 on :
Oh my...so many "comments"...but I will not....
quote:Originally posted by wdcisco: Thanks Tex. Are you getting any action?
Posted by wdcisco on :
quote:Originally posted by 10of13: Oh my...so many "comments"...but I will not....
quote:Originally posted by wdcisco: Thanks Tex. Are you getting any action?
What am I missing something? Is there an inside joke?
Posted by woswill on :
quote:Originally posted by wdcisco:
quote:Originally posted by 10of13: Oh my...so many "comments"...but I will not....
quote:Originally posted by wdcisco: Thanks Tex. Are you getting any action?
What am I missing something? Is there an inside joke?
I dont get it either.. lol
Posted by 10of13 on :
wdcisco Look at your question... Not an actual inside joke...but... Posted by wdcisco on :
\
quote:Originally posted by 10of13: wdcisco Look at your question... Not an actual inside joke...but...
Ok...yeah...I was thinking of the possible misinterpertaion when I was writing it...
But you guys just took it too far... But for serious... GETTING ANY ACTION? (not in your pants)..or whatever.
-wdcisco
Posted by Stockstar69 on :
Pulled this from ihub...Deep Down is mentioned on page 52/53 ish.
Hoping this holds above 2 today...next week should be a "good week"!!
Posted by woswill on :
quote:Originally posted by 10of13: Hoping this holds above 2 today...next week should be a "good week"!!
Hopefully we can get that Mako Tech acquisition PR next week
Q3 earnings would be good too
Posted by Stockstar69 on :
Just heard there may be a hurricane brewing...NOEL?
Posted by T e x on :
supposedly will affect Haiti and part of Cuba...
Posted by woswill on :
Float is slowly but surely being locked up
If you look at the L2 almost every single trade (buy or sell) will cause movement in the PPS
Posted by Stockstar69 on :
quote:Originally posted by woswill: Float is slowly but surely being locked up
If you look at the L2 almost every single trade (buy or sell) will cause movement in the PPS
That's what I thought too but sometimes it's hard to tell.
We just need to be patient.
Posted by picknponies on :
im thinking we get a new high soon....i love this stock
Posted by jrtfan on :
It's making me crazy, but I'm holding on to see what happens.
Posted by wdcisco on :
I too am getting crazy. Posted by woswill on :
Im not even trippin over this short term stuff..
This is probably the only penny stock i would feel comfortable leaving my money in for months without being able to monitor it
Posted by wdcisco on :
Same here Woswill...but watchin' it every day can make a man crazy...up down up down...silence, noise..ahhhh!
but I still think its a great stock. youve got to check out cmmi dude!
Posted by Stockstar69 on :
quote:Originally posted by woswill: Im not even trippin over this short term stuff..
This is probably the only penny stock i would feel comfortable leaving my money in for months without being able to monitor it
Hey WOSWILL..check out ETIM, think long term. They will soon be uplisting from the pinks and they have real products. Posted by wdcisco on :
2.02 today on very little volume...We are overdue for a PR...it'll be out when we least expect it.. Posted by T e x on :
actually, I like it when pps rises on less volume...
but then I've mis-called the bottoms on recent retracements, too Posted by wdcisco on :
Tex don't get me wrong I also like that it rose on such little volume...I think its a good sign..If a PR came out tomorrow this think would shoot to 3. IMO...
I believe the technical term is a "tight float" correct me if I'm wrong.
-wdcisco
Posted by kywee on :
Sold the rest of my position today to make up for my big loss on TARR.
I'll be keeping an eye on it for a possible re-entry.
Posted by woswill on :
Posted by woswill on :
quote:Originally posted by woswill:
Closed at $2 today
Posted by GlassCrasher on :
This is setting up for another run. Many large block trades hitting the tape today! Earnings release is expected within 2 weeks.
Posted by IMAKEMONEY on :
MAN, THAT CHART TELLS ME SELLLLLL!JMO
Posted by woswill on :
quote:Originally posted by IMAKEMONEY: MAN, THAT CHART TELLS ME SELLLLLL!JMO
Reasoning???
Earnings are due between Nov 14 (Wednesday) and Nov 19.
Nov 21 will mark the 4th month since the LOI to acquire Mako Tech
Posted by wdcisco on :
Gotta love that chart...and the earnings
WHEEEHEHEHEEEEEEE!
Posted by IMAKEMONEY on :
WATCH OUT wdcisco, THEY RUN THEN THERE DONE! JMO
Posted by wdcisco on :
You could be right IMAKEMONEY...But for now it seems very solid and earnings are gonna be up man...
I got burned (am getting) by blta right now..I'm not sure if I should get out or what? They IR says things are fine but I fear dilution...The chart looks like sh!t... Posted by IMAKEMONEY on :
PROFIT IS PROFIT, I LIKE CASH! GREED KILLS!
Posted by GlassCrasher on :
quote:Originally posted by IMAKEMONEY: MAN, THAT CHART TELLS ME SELLLLLL!JMO
Fundamentals tell me to buy!
Posted by IMAKEMONEY on :
GOOD LUCK GlassCrasher, IM OUT, CANT SEEM TO ROLL OVER 2.00
Posted by wdcisco on :
In one week you will wish you had stayed in...imo. Mark my words...7-10 days dpdw..(boom) Posted by IMAKEMONEY on :
MARKED!!!!!!!!! PPS 1.98
Posted by wdcisco on :
Thanks! *
*(boom)
Posted by IMAKEMONEY on :
PPS 1.98 Posted by GlassCrasher on :
quote:Originally posted by IMAKEMONEY: GOOD LUCK GlassCrasher, IM OUT, CANT SEEM TO ROLL OVER 2.00
Same to you bro!!
2.00 was hit hard today at the open! I think NITE is up to his old tricks, trying to hold it. NITE did the same thing in the mid .60's. Regardless, there has been alot of accumulation in the upper 1.80's and 1.90's. I think this one is a long term hold. Good luck !
Posted by IMAKEMONEY on :
BEST OF LUCK MAN, HOPE YOU SEE THE MOON. Posted by kywee on :
Bought some today. The bollies are just too tight for me to turn my head.
Posted by Free Muney on :
mee too i think this is gonna breakout since it closed green above 2 after such a tight pennant.
Posted by GlassCrasher on :
Very nice day today! Closed at High of the Day! Setting up nicely for a run next week.
Posted by wdcisco on :
Next week is payday.... Posted by wdcisco on :
Well today was a downer...closed at 1.70...i bought at 1.78 a month ago ....
Luckily I sold at 1.95! Wheeeheee!
Good day!
Posted by Stockstar69 on :
I bought more yesterday and then it dropped a little more. I'm not going to worry about a few cents but still, arghh! Now go up!
Posted by Stockstar69 on :
Watch this! Dropped this morning to 1.60ish but watch it run back up 1.90 by the end of the day.
The normal range is between 1.75 and 2.25.
Earning are due out SOON!
Posted by wdcisco on :
I think your right...These are damn cheap. 1.60? Wow.
Posted by Stockstar69 on :
I think the are to report quarterly earnings this week also. Let see:
- Millions in orders. - Reduced debt. - Millions more in orders. - More reduced debt.
Let see where we are at Friday.
Posted by Stockstar69 on :
I'll admit I was wrong here but I think it is just the timing. Give it till the end of the week and we will see where we end up.
quote:Originally posted by Stockstar69: Watch this! Dropped this morning to 1.60ish but watch it run back up 1.90 by the end of the day.
Falling hard on that news... wonder if it will bounce.... But at the moment...bye bye PPS!
Posted by jrtfan on :
LOD 1.41? YIKES!
Posted by 10of13 on :
I was able to grab some at 1.44...let's see if it does a bounce...fingers crossed!!!
Posted by 10of13 on :
IMO..If it can hold at or over 1.55 it may have a "chance"...
Posted by 10of13 on :
taking my roughly 12%... I'll be watching... GLTA!
Posted by jrtfan on :
Back to 1.56/1.62
Posted by SandRacer on :
It doesn't seem to take very much in the way of volume to move the price on this one.
This morning has certainly been exciting but watching and wondering where it will end up seems rather like watching a roulette wheel.
Posted by wdcisco on :
I am kind of glad I sold all at 1.95, IMAKEMONEY you were right man.
Posted by Stockstar69 on :
I thought I did good the other day "averaging down" but looking back, I should have waited. Oh well.
Fortunately, even if this temporary dip takes a few days to recover, I feel pretty confident it will go higher in the future as this company has a LOT to offer.
Posted by wdcisco on :
Yeah I don't even know if I want to get back in this thing. I made like 10% in 2 months. Don't get me wrong this company is great but I have a feeling until some GREAT news comes out this stock will be very volitle in the meantime. IMO.
Posted by wdcisco on :
Weird rebound in the end. Nice!
Posted by Stockstar69 on :
Just looked at a chart. Looks like we filled a gap back from about 10/12/07. If true, we may have fun tomorrow and bounce up nicely.
Posted by woswill on :
The stock falling is a abit of an overreaction imo..
Got back in today
Posted by wdcisco on :
RIG not workin for ya?
Posted by woswill on :
quote:Originally posted by wdcisco: RIG not workin for ya?
Was in RIO, got a 13% gain and bailed. Now back in DPDW =)
Posted by wdcisco on :
I mean rio Nice woswill. Take the money and run!
Posted by woswill on :
Some food for thought.. all theories are welcome
Manipulation? I dunno.. Its been going on the last couple of days
Also.. my BUY caused a DOWNTICK.. i looked at L2.. Red arrow next to my buy order which caused a downtick
Posted by jrtfan on :
Getting hit hard this AM 2.41/2.44. Any thoughts on why this thing would tank so hard? Recent news seems to be good. I'm beginning to think that manipulation might very well be the answer.
Posted by Stockstar69 on :
quote:Originally posted by jrtfan: Getting hit hard this AM 2.41/2.44. Any thoughts on why this thing would tank so hard? Recent news seems to be good. I'm beginning to think that manipulation might very well be the answer.
I agree...somebody is playing games. Remeber the analyst (Dahlman Rose) upgraded DPDW a while back for a run to $2.50. Just checked these guys and they look pretty good. We may need to hang on for a while until this crap stops but I still think the financials looked GREAT! Posted by jrtfan on :
Whoops, I meant 1.41/1.44. Wishful thinking Posted by Stockstar69 on :
quote:Originally posted by jrtfan: Whoops, I meant 1.41/1.44. Wishful thinking
That would have been wishful a few days ago when I bought another 1,000 shares, could have saved $250.00 but that's OK cause we will go back up, I just don't know when.
Posted by woswill on :
RSI oversold, doji star
Reversal soon imo
Not trying to pump the stock or anything, but if you wanna make a killing in the next 2-3 weeks DPDW will be the stock imo.
Posted by wdcisco on :
quote:Originally posted by woswill: RSI oversold, doji star
Reversal soon imo
Not trying to pump the stock or anything, but if you wanna make a killing in the next 2-3 weeks DPDW will be the stock imo.
I wasn't expecting it to go this low. I sold all at 1.95 the day it dipped. But I think this stock is still gold for longterm.
I am not getting back in right now. Most my money was in dpdw and I had it in there for more than a month...to make 10%...its good..but not for me. I can make more daytrading.
GLTY!
Posted by woswill on :
quote:Originally posted by wdcisco:
quote:Originally posted by woswill: RSI oversold, doji star
Reversal soon imo
Not trying to pump the stock or anything, but if you wanna make a killing in the next 2-3 weeks DPDW will be the stock imo.
I wasn't expecting it to go this low. I sold all at 1.95 the day it dipped. But I think this stock is still gold for longterm.
I am not getting back in right now. Most my money was in dpdw and I had it in there for more than a month...to make 10%...its good..but not for me. I can make more daytrading.
GLTY!
Ya.. the volatility isnt as high as it used to be..
I wouldnt recommend getting into DPDW if you plan to daytrade it
As an investment, pretty solid imo
Posted by woswill on :
Reversal in the making
4 MMs at 1.40 bid support
Posted by woswill on :
quote:Originally posted by woswill: RSI oversold, doji star
Reversal soon imo
Not trying to pump the stock or anything, but if you wanna make a killing in the next 2-3 weeks DPDW will be the stock imo.
Closed at HOD $1.48
10% pop on relatively LOW volume..
Start of the reversal imo
Posted by woswill on :
And whats with this bull****..
Banned from DPDW board for a day from one of the site admins...
I made like 2 posts that were bullish and none of the board mods said anything to me..
Posted by woswill on :
Someone on ihub made a visit to the site today...
Good News. Spent half a day at DPDW today with an investment banker partner and it was fantastic.
The facilities are far more impressive in person than any photos could convey. It is a beehive of activity.
CEO Ron is a genius at product development done in real time to meet client demands and there are many patents pending as a result.
I saw a Proteus undergoing wave heave simulation. Very impressive.
Major LARS units were in various stages of development and staggering.
I met ElectroWave founder Ron Nance and he is very bullish about having been acquired by DPDW. Nance is a very passionate man with decades of oil services experience, vast engineering skills and serious coding skills. There are jaw dropping EW demos of their full ship systems control interfaces on site.
Also met Lieutenant Commander Gregory Boucher who is on board FULL TIME pushing EW product line into the boating markets including coast guard, military and many others. He was a very striking presence, extremely articulate and very positive on company prospects for market penetration.
I've driven cross country and have another 1,000 miles to go and need to rest before driving. I'll post more comprehensively after Thanksgiving.
In a nutshell, this is not like any OTCBB company I have ever seen. This is a MAJOR operation with all the big clients actively buying from them right now. This company is expanding fast and will be bursting at the seams. They are lined up for major growth.
Posted by wdcisco on :
Nice woz, GL!
Posted by captain america on :
Posted by Stockstar69 on :
If we could only get a hurricane...That would push this stock higher quickly!
Read the financials (just out last week). Look at the company website (YES...Thay make real products).
I think this stock is poised to explode in the next few years. Good management plan and they make what other BIG company's want!!!
Posted by SandRacer on :
Thanks for the insight woswill. I've poked around on their website and am amazed at the diversity of their products. I'm glad to hear that your personal visit confirms that they are the class operation that is portayed on their site.
Stockstar69 ~ Unlike WEGI, I don't think it would take a hurricane to push this one up. Although it might not hurt. IMO, all it would take is another contract announcement.
But then........... my cup is always half full.
I bought at .68 and added more a couple weeks ago at 1.98. Even with the latest dip, this one is still doing well for me. I can't tell you why but I think this one will go well beyond the projected 2.50. Like SS69 said, "they make real products" and their customers can certainly afford to buy them.
Posted by Stockstar69 on :
Hi Sandracer...
I also like the fact the the production facility has cameras so occasionally you can see what's coming in and going out.
The company makes some pretty big stuff from scratch and out of solid steel. You can always tell the finished stuff as they paint it Bright yellow.
The financials looks pretty good and they have been reducing debt substantially.
I can't see a reason not to own this stock.
Posted by woswill on :
I didnt visit the place, was just quoting a guy from ihub
Anyways, just added more today..
No way in hell am i gonna wait to save a couple pennies and miss the launch again
Posted by Stockstar69 on :
I added more last week! I could have waited and seved .15 cents but in the long run We will be over 2.00 / 3.00 ???
Posted by woswill on :
quote:Originally posted by Stockstar69: I added more last week! I could have waited and seved .15 cents but in the long run We will be over 2.00 / 3.00 ???
Exactly
Today i just slapped the ask, no point in wanting to save a couple pennies when the stock will be at a much higher price down the road
Posted by Stockstar69 on :
quote:Originally posted by woswill:
quote:Originally posted by Stockstar69: I added more last week! I could have waited and seved .15 cents but in the long run We will be over 2.00 / 3.00 ???
Exactly
Today i just slapped the ask, no point in wanting to save a couple pennies when the stock will be at a much higher price down the road
True! Sometimes we have to play reverse psychology!
Posted by woswill on :
Someone was buying 4000 block of shares throughout the day at $1.52, no matter what the current ask was. One of the trades went through afterhours at $1.52 also
Posted by woswill on :
Check out this ****ing idiot on superiorinvestor website..
quote: You know what that 1.49 close signifies to me? That it can't hold above 1.50.
I also feel it's the MM's subtle way of letting savvy traders know that the party's over, so either get out now or pay the price later. Lots of buying going on today. Very good hunting ground for the MM. It's already down .02 in AH.
When you have a market preparing to sink into depression in the short-to-midterm, you certainly don't want to keep your money tied up in dicey stocks. Everyone bought in early today, hoping for good news from the Fed minutes. Once the bad news was released, the MM wisely kept the price alfloat so as not to arouse suspicion, so traders would think everything's still cool, so other traders would keep buying in... But that's just my paranoid take in trading so many of these micros over the past 11 months...
Complete retard..
He thinks people bought in hoping for good fed news..
I dont think he understands we dont give a **** about the fed news
This company will continue to expand and make more money
Posted by wdcisco on :
quote:Originally posted by woswill: Check out this ****ing idiot on superiorinvestor website..
quote: You know what that 1.49 close signifies to me? That it can't hold above 1.50.
I also feel it's the MM's subtle way of letting savvy traders know that the party's over, so either get out now or pay the price later. Lots of buying going on today. Very good hunting ground for the MM. It's already down .02 in AH.
When you have a market preparing to sink into depression in the short-to-midterm, you certainly don't want to keep your money tied up in dicey stocks. Everyone bought in early today, hoping for good news from the Fed minutes. Once the bad news was released, the MM wisely kept the price alfloat so as not to arouse suspicion, so traders would think everything's still cool, so other traders would keep buying in... But that's just my paranoid take in trading so many of these micros over the past 11 months...
Complete retard..
He thinks people bought in hoping for good fed news..
I dont think he understands we dont give a **** about the fed news
This company will continue to expand and make more money
What an IDOIT! I wonder how he makes his money... Posted by woswill on :
quote:Originally posted by wdcisco:
quote:Originally posted by woswill: Check out this ****ing idiot on superiorinvestor website..
quote: You know what that 1.49 close signifies to me? That it can't hold above 1.50.
I also feel it's the MM's subtle way of letting savvy traders know that the party's over, so either get out now or pay the price later. Lots of buying going on today. Very good hunting ground for the MM. It's already down .02 in AH.
When you have a market preparing to sink into depression in the short-to-midterm, you certainly don't want to keep your money tied up in dicey stocks. Everyone bought in early today, hoping for good news from the Fed minutes. Once the bad news was released, the MM wisely kept the price alfloat so as not to arouse suspicion, so traders would think everything's still cool, so other traders would keep buying in... But that's just my paranoid take in trading so many of these micros over the past 11 months...
Complete retard..
He thinks people bought in hoping for good fed news..
I dont think he understands we dont give a **** about the fed news
This company will continue to expand and make more money
What an IDOIT! I wonder how he makes his money...
He probably doesn't. Of course, he would tell us otherwise.
Anyways..
You shoulda got back in at $1.21, woulda been 25% gain so far. Beats the heck out of that 10% gain you got from $1.78-$1.95 lol
Posted by wdcisco on :
True. But I am looking into subpennys and pinchers right now...I don't have much money to spread around otherwise I would....and I don't want to put all my eggs in one basket either
If I had some more dough laying around for investments I would definently put it in dpdw and not touch it for 5 or 6 years. (Sounds so nice...)
I am still kicking myself in the a** for not getting in dlav at .0005 last week. I heard a rumour and it was a bottom play... $500.00 =20k Can you say 40 bagger!? lol.
GL!
Posted by T e x on :
quote:Originally posted by T e x: That's been my problem: "Who's selling?"
Have decided what I think--is gonna channel in this area, then test 1.20s...
Have not followed in a while, but am hoping that 1.21 was the "reset button."
Posted by IMAKEMONEY on :
40 bagger!?
Posted by T e x on :
lol...
have no idea--am only superficially aware of the claimed fundies...
chart has been giving me a *fit* since pegging it earlier...
also has confounded a pretty good fibbi guy I know... gonna visit with him.
Posted by GlassCrasher on :
DPDW****A chartists nightmare**** I think it's safe to hold this one for 10 years.
Posted by wdcisco on :
quote:Originally posted by IMAKEMONEY: 40 bagger!?
You had to say it... Posted by Stockstar69 on :
quote:Originally posted by GlassCrasher: DPDW****A chartists nightmare**** I think it's safe to hold this one for 10 years.
Oh, come on! I wanted that 40 bagger overnight!
I'll wait a few months if the company stays steady and continues to deliver products. Looking at all the good news regarding Deep Down, I feel this is one of the safest investments in the stock market right now, especially for the low priced stocks.
Posted by Stockstar69 on :
quote:Originally posted by wdcisco:
quote:Originally posted by IMAKEMONEY: 40 bagger!?
You had to say it...
40, I'd be happy with a 5-bagger! Posted by woswill on :
american bulls has a buy confirmed rating for DPDW, just some food for thought.
Posted by T e x on :
Posted by Stockstar69 on :
quote:Originally posted by woswill: american bulls has a buy confirmed rating for DPDW, just some food for thought.
I have never figured it out but A.B. does seem to have an effect.
D.R. still has the $2.50 price target on the stock also. Posted by wdcisco on :
WOW!!! 1.27... Posted by T e x on :
just did a thread search on the word dilution cuz I had an interesting chat the other night, re a post made on da hub, back in October. Seems that--despite the "pledge" that's been posted and re-posted here--at least some dilution has taken place, masked as "debt reduction."
quote:Posted by: jimmenknee In reply to: jimmenknee who wrote msg# 60317 Date:10/10/2007 11:26:04 PM Post #of 64694
DPDW-- a little chicanery? Seems the PR "couched" the exchanging of preferred shares as "debt reduction," when in all likelihood it allowed former officers to be able to sell commons via a 144(k) exemption.
Rule: "... 201.06 A former affiliate who wishes to sell non-restricted securities may sell without compliance with Rule 144 as soon as his or her “affiliate” status has ceased. The cessation of affiliate status is a facts-and-circumstances determination and counsel should not assume that it ceases instantly. Rather, the former affiliate should wait some amount of time – either the 3-month period of Rule 144(k), by analogy, or until the issuer files its next periodic report, before publicly selling the non-restricted securities without complying with Rule 144. [April 2, 2007]."
SEC File: "The Series E and G redeemable exchangeable preferred stock have a face value and liquidation preference of $1,000 per share, no dividend preference, and are exchangeable at the holder’s option after June 30, 2007 into 6% Subordinated Notes due three years from the date of the exchange. ... Deep Down evaluated the Series E and G preferred stock and has classified them as debt instruments from the date of issuance due to the fact that they are exchangeable at the option of the Holder into Notes.
Classifying as debt instruments allows any subsequent PR that talks to the "exchanging" to common shares to be referred to as debt reduction.
SEC File: On March 20, 2007 Deep Down finalized the terms of an agreement with Daniel L. Ritz, Jr. (shareholder and director), who agreed to surrender 25,000,000 shares of common stock for $250,000 in cash (par value). The market value of those shares was $7,250,000. Additionally, he surrendered 1,500 shares of Series F convertible preferred stock with a value of $1,325,773 and 500 shares of Series G exchangeable preferred stock with a value of $357,615 to Deep Down for cancellation in exchange for 1,250 shares of Series E exchangeable preferred stock valued at $945,563. ... In addition, Mr. Ritz also kept 500 shares of Series E exchangeable preferred stock he previously owned and agreed to tender his resignation from the Board.
SEC File: "... On March 20, 2007, the Company accepted the resignation of Daniel L. Ritz, Jr. from the Board of Directors."
Good news bad news? 7.25mill in exchange for .945mill? How about restricted commons for "exchangeable preferreds"?
SEC File: On March 20, 2007 Deep Down issued 2,000 shares of Series E exchangeable preferred stock to John C. Siedhoff, then Chief Financial Officer, and director, valued at $1,512,901 for the surrender of his ownership of 1,500 shares of Series F convertible preferred stock valued at $1,325,773 and 500 shares of Series G exchangeable preferred stock valued at $357,616, which were returned to the transfer agent for cancellation. ... On May 15, 2007, Deep Down accepted John C. Siedhoff’s resignation from the board of directors and his resignation as Chief Financial Officer, effective April 30, 2007. ...
Approximately same value, just noting as a possible redeemer according to Oct 5 PR.
Press Release: HOUSTON, Oct. 5 /PRNewswire-FirstCall/ -- Deep Down, Inc. (OTC Bulletin Board: DPDW) today announced it has exchanged 1,250 shares ($1,250,000 aggregate face value) of Series E Redeemable Exchangeable Preferred Stock ('Preferred Stock') for 1,213,592 shares of common stock in an agreement reached on October 2, 2007 ...
SEC File: In May 2007, Deep Down executed a Securities Redemption Agreement (the “Agreement”) with a stockholder (the former CFO of Deep Down) to redeem 4,000 shares of Series E exchangeable preferred stock at a discounted price of $500 per share for a total of $2,000,000. The discount of $500 per share from the face value of $1,000 was accounted for as a substantial modification of debt, thereby generating a gain on extinguishment of debt which is reflected in other income. Deep Down accreted the remaining discount of $1,102,385 attributable to such shares on the date of redemption. The shareholder placed all 4,000 shares into an escrow account as of the execution of this agreement. Terms of the payment to the shareholder are: 2,800 shares at $500 for a total of $1,400,000 paid in August, 2007 (See Note 12), with the remaining shares to be redeemed monthly beginning August 31, 2007 at a minimum rate of 40 shares at $500 per share, or $20,000 per month.
Certainly seems to fit the portion of the following PR:
Press Release: HOUSTON, Oct. 5 /PRNewswire-FirstCall/ -- Deep Down, Inc. (OTC Bulletin Board: DPDW) ... In addition, Deep Down announced that it has agreed to eliminate an obligation to pay $20,000 per month for the next 28 months, or an aggregate of $560,000, by exchanging this obligation for 543,689 shares of common stock. This agreement was also reached on October 2, 2007.
Overall -- eh? I think I'll keep a better track of PRs and filings from now on.
in a subsequent post, another fellow, a pretty analytical-type guy offers this:
quote:Posted by: clarity789 In reply to: None Date:11/25/2007 9:47:32 AM Post #of 64694
DPDW Effective Float and Volume History
Base Support is estimated at 1.28527
($ calculations use closing PPS as the multiplier)
NOV - Total Volume = 2,931,420 for 16 trading days $4,945,639.00 OCT - Total Volume = 9,186,334 for 23 trading days $15,699,347.00 - dilution (4 million shares) SEP - Total Volume = 4,943,443 for 19 trading days $3,900,961.00 AUG - Total Volume = 3,646,958 for 23 trading days $2,806,585.00 JUL - Total Volume = 2,604,597 for 21 trading days $1,777,563.00 JUN - Total Volume = 3,565,837 for 21 trading days $2,280,895.00 MAY - Total Volume = 1,458,327 for 22 trading days $689,689.00 APR - Total Volume = 1,694,368 for 20 trading days $821,690.00 MAR - Total Volume = 1,703,272 for 21 trading days $522,875.00 FEB - Total Volume = 547,183 for 17 trading days $154,725.00 JAN - Total Volume = 1,562,055 for 20 trading days $471,390.00 ------------------------------------------------------ For 2007 Total Volume = 33,843,794 for 223 trading days $34,071,359.00
Trading patterns here have had me confused following an earlier dip I projected fairly accurately... Hence, I was glad to have my little chat...not saying the sky is falling, understand, but it *does* bug me to have to "pull teeth" to get dig this out of filings, especially given "the pledge."
Posted by captain america on :
dang tex! you debbie downer...lol
Posted by wdcisco on :
WOW!!
DPDW is gonna go below a dollar!! imo.
Posted by Stockstar69 on :
quote:Originally posted by wdcisco: WOW!!
DPDW is gonna go below a dollar!! imo.
Does anyone who has done any DD on this stock really beleive the current stock price to reflect the appropriate value of this company?
I DO NOT! Posted by Stockstar69 on :
quote:Originally posted by wdcisco: WOW!!
DPDW is gonna go below a dollar!! imo.
Wow! Looks like we are getting close to your target / prediction price! But the big question is...Will you buy it here?
Ooohhh, if I only had some free cash Posted by Stockstar69 on :
Just saw this in response to an iHub shareholders inquiry...
The information looks great as it is what we have been expecting. We just need to be patient.
Email response from IR:
Mr. XXX:
Thanks for your interest in Deep Down, and your kind words.
I'll get right to the point, I still soon expect the Mako acquisition to close, and yes, it is still very much on-track. (I'll caution to not compare the ElectroWave acquisition, and its associated timeframe, to this one. Each acquisition of a company has a unique set of hurdles and challenges, and it's like comparing apples and oranges.)
Please indulge me as I paste an excerpt from a recently sent e-mail to one of our shareholders, that I believe accurately expresses the current state of affairs:
"...I believe with the company expected to at least double last year's revenues, and three quarter's worth of data to analyze, that this is very realistic to state. And, this "forecast" is without the Mako acquisition added in - that would change things considerably.
This industry is "hot" and Deep Down's know-how and technology are needed now more than ever. And, as we go deeper in offshore oil production, Deep Down will likewise grow, in my opinion. They have the know-how...
...Regarding the third quarter, from management's perspective, they believe they are performing strong, business outlook for them is as bullish as the oil industry in general, and they are on-track with their strategy...
...I am confident that we'll be soon informed as we move forward with significant events of importance to shareholders. One thing that management (the largest shareholder as a group) has been very careful to guard is the company, its stock, and most importantly its shareholders.
This year's growth, price appreciation, and acquisition, vis-ŕ-vis their reduction in debt and outstanding share count, has been staggering (I'll also add, rare), and I believe clearly demonstrates that management is indeed doing the right things for all its shareholders."
I hope that this has been helpful, and encourage you to contact me anytime you require further information.
Thanks for your support of DPDW!
Regards,
--Steve Haag investor relations
Posted by wdcisco on :
quote:Originally posted by Stockstar69:
quote:Originally posted by wdcisco: WOW!!
DPDW is gonna go below a dollar!! imo.
Wow! Looks like we are getting close to your target / prediction price! But the big question is...Will you buy it here?
Ooohhh, if I only had some free cash
I wouldn't buy this right now! Its a falling knife man...I would wait until I see some support IMO!
GOOD LUCK! Posted by PCola77 on :
Holy cow, haven't watched this one in a while either. Was over $2 last I checked I think.
Stockstar, you're a freaking jinx. Remind me to stay away from anythign that you get! Posted by woswill on :
Posted by Bottomfeeder on :
My resource shows this to outperform its peers although it does have a very high debt to equity and long term debt to equity ratio.It was trading above the 200 day moving average.The last 4 weeks shows bad price range but the previous 48 week it did show great gains in price.The info source I used is from Reuters
Posted by Stockstar69 on :
quote:Originally posted by PCola77: Holy cow, haven't watched this one in a while either. Was over $2 last I checked I think.
Stockstar, you're a freaking jinx. Remind me to stay away from anythign that you get!
Funny, but you are in some of the same falling stocks I am, maybe you are the jinx. ? Say hi to Rufus! LOL Posted by PCola77 on :
I'm barely in CSHD. Just a morbid curiousity, and I only bought when it was down under a penny, just for fun.
ETIM I was in, but sold long ago. this one I missed, but watched it go from like $1.70 to what, like $2.80ish, regretting missing out. Knowing me, I probably would still be holding though, so maybe it's for the best Posted by woswill on :
quote:Originally posted by woswill:
Closed at $1.22
Posted by T e x on :
so you guys think the dilution even though promising "NO DILUTION!" has had no affect on traders?
Posted by captain america on :
the company didn't dilute tex the old directors did...right?..or just sold out id say and i would say no news didnt help the share price. Posted by captain america on :
looks like the chart is turning too..imo
Posted by T e x on :
quote:Originally posted by captain america: the company didn't dilute tex the old directors did...right?..or just sold out id say and i would say no news didnt help the share price.
I'll buy that...
"former" vs "new"
But it's the "new" guys' pledging no dilution, right?
that is, current guys could say, "Hey, by the way...." here's this lil hidden thang...
right?
Posted by captain america on :
there is no question the former directors screwed the "new" shareholders... no news tells me the "new" company is doing their best to screw them "old" directors back..lol
Posted by T e x on :
however it's playing...
there is no question the former directors screwed the "new" shareholders...
this part is not good news...
Posted by captain america on :
I follow the fat cat board so im not trying to start anything here just stating my optimistic view. I think it has better up side than down side.
I guess you could say Ive drank the kool aid..lol
Posted by T e x on :
jeez, I got some great pals, there...lol
btw, never said otherwise, re upside v downside...
simply saying there's some credibility to be regained, imo
Posted by captain america on :
I agree.. fat cats board is a great board
have a great weekend tex!
Posted by T e x on :
u 2 !
Posted by woswill on :
quote:Originally posted by captain america: looks like the chart is turning too..imo
yup
Posted by Stockstar69 on :
Up, down, up...Oh wait it's the stock market, I thought stocks always went straight up!
To the moon! LOL.
Patience is the key here, give it 6 months or so. I am willing to wait!
Posted by Homersbud on :
chart looking sweet. waiting for the $1.25 break
Posted by Homersbud on :
$1.25 broke!
Joined the party at $1.26.
Posted by Stockstar69 on :
1.29 now. Starting a run?
Posted by Homersbud on :
quote:Originally posted by Stockstar69: 1.29 now. Starting a run?
I think so!! $1.25 was a huge break. Uptrend has begun!!
Posted by Homersbud on :
Gooooooooooooo!!!!!!!!!!
$1.31x1.33!
Posted by Homersbud on :
$1.34x1.36, oh ya!
Posted by Homersbud on :
Should be getting new HOD here Posted by Stockstar69 on :
Nice pushing today. Looks like buyers don't want to be without over the upcoming weekend? Is news coming??? Posted by Homersbud on :
$1.36 close!
I'm hearing news is coming. This is looking good Stockstar!!!!
Posted by woswill on :
quote:Originally posted by Homersbud: $1.36 close!
I'm hearing news is coming. This is looking good Stockstar!!!!
It was HOD too =)
Posted by captain america on :
looking good! all this action and no news...yet Posted by wdcisco on :
Real good..somethin's up amd I want a piece....!!
Posted by captain america on :
dang cisco you have been working hard on those charts and scans my friend...your all over the place Posted by wdcisco on :
Thanks Cap'n....Gotta work hard for the money...!! Your not doin' too bad yerself You got any juicy pinchers..?? I am currently in AFT...Lotsa insider trading...could be a nice run tomorrow.. Keep on watch man...
Did you see that giant mudslide..happened because of that bad storm we had...!!
Looks like somebody dumped about 25,000 shares but it's coming back up fairly quickly.
Posted by woswill on :
quote:Originally posted by SandRacer: Looks like somebody dumped about 25,000 shares but it's coming back up fairly quickly.
Um..
I dont see anything that resembles someone selling 25k shares
Posted by SandRacer on :
I was just looking at the 25.3k spike in the volume about the time the price dropped. But, I don't see anything that corresponds in the L2's unless they just haven't updated yet.
Posted by captain america on :
some info on share structure from locustsuc from the hub.
Posted by captain america on :
looks like almost all of the "old" company directors sold out..imo
Posted by Homersbud on :
Hmmm, what happened here? I sold out at $1.25 after it failed to hold, now it's about to print $1.00
Posted by jrtfan on :
It's getting hammered today. Did I miss some press?
Posted by Homersbud on :
no idea. been getting killed the past couple of days.
$1.01 looks tempting....
Posted by captain america on :
check out the large block trades that went thru today 10k and 20k purchases..hmm?
Posted by PCola77 on :
Back down under $0.90...
Posted by Stockstar69 on :
quote:Originally posted by PCola77: Back down under $0.90...
Good buying opportunity...LOL-Did I say that? Posted by Homersbud on :
Back in at .915
HOUSTON, Dec. 18 /PRNewswire-FirstCall/ -- Deep Down, Inc. (OTC Bulletin Board: DPDW - News) today announced that it has signed a definitive purchase agreement to purchase Mako Technologies, Inc. ("Mako"). Headquartered in Morgan City, Louisiana, Mako serves the growing offshore petroleum and marine industries with technical support services, and products vital to offshore petroleum production, through rentals of its remotely operated vehicles (ROV), topside and subsea equipment, and diving support systems used in diving operations, maintenance and repair operations, offshore construction, and environmental/marine surveys. ADVERTISEMENT
"The total cost of acquiring Mako is a maximum of $5.0 million in cash and 11,269,841 shares of common stock of Deep Down based on Mako management's expectation of $2,400,000 in earnings before depreciation, interest, amortization, taxes and other non-cash charges ("EBITDA"), after also adjusting for certain non-recurring expenses, for the fiscal year ending December 31, 2007. As part of this acquisition, Deep Down will also pay off approximately $800,000 in Mako bank debt. The first installment of $2,916,667 in cash and 6,574,074 shares of common stock of Deep Down is expected to be paid at closing within the next few days, and the balance of up to $2,083,333 in cash and 4,695,767 shares of common stock of Deep Down will be paid upon completion of an audit to verify adjusted EBITDA expectations for the fiscal year ending December 31, 2007," commented Robert E. Chamberlain, Jr., Deep Down's Chairman.
"We are very pleased to have signed the acquisition agreement with Mako, and believe this non-dilutive transaction is extremely beneficial for Deep Down and our shareholders as we continue to add products and services to our portfolio of capabilities," commented Ron E. Smith, Deep Down's President and CEO. "We believe we can significantly enhance Mako's current annual revenue base of approximately $6.8 million by expanding the equipment rental pool and ROV fleet."
"An expansion of the ROV fleet can yield benefits beyond increased rental income, including increased service revenue from two and three man ROV operating crews and the opportunity to sell additional launch and retrieval systems ("LARS"). Prospect Capital Corporation is providing $6,000,000 in debt to fund the cash requirements and expenses associated with this transaction. Terms are substantially the same as those in the initial borrowing that was concluded in August 2007," said Eugene L. Butler, Deep Down's CFO.
"With Deep Down's relationships and access to capital, we foresee the ability to expand our ROV fleet and take advantage of our customers' growing need for both planned and "emergency" offshore rental equipment in support of their growing level of oil and gas exploration occurring in the Gulf of Mexico. We also plan to expand our operations internationally," commented Jacob Marcell, Mako Technologies' chief executive officer.
About Prospect Capital Corporation
Prospect Capital Corporation (http://www.prospectstreet.com) is a closed-end investment company that lends to and invests in private and microcap public businesses. Prospect Capital's investment objective is to generate both current income and capital appreciation through debt and equity investments.
About Deep Down, Inc.
Deep Down specializes in the provision of innovative solutions, installation management, engineering services, support services, custom fabrication and storage management services for the offshore subsea control, umbilical, and pipeline industries. The company fabricates component parts of subsea distribution systems and assemblies that specialize in the development of subsea fields and tie backs. These items include umbilicals, flow lines, distribution systems, pipeline terminations, controls, winches, and launch and retrieval systems, among others. Deep Down provides these services from the initial field conception phase, through manufacturing, site integration testing, installation, topside connections, and the final commissioning of a project. The Company's ElectroWave subsidiary offers products and services in the fields of electronic monitoring and control systems for the energy, military, and commercial business sectors. ElectroWave designs, manufactures, installs, and commissions integrated PLC and SCADA based instrumentation and control systems, including ballast control and monitoring, drilling instrumentation, vessel management systems, marine advisory systems, machinery plant control and monitoring systems, and closed circuit television systems.
The Company's strategy is to consolidate service providers to the offshore industry, as well as designers and manufacturers of subsea, surface, and offshore rig equipment used by major, independent, and foreign national oil and gas companies in deep-water exploration and production of oil and gas throughout the world. Deep Down's customers include BP Petroleum, Royal Dutch Shell, Exxon Mobil Corporation, Devon Energy Corporation, Chevron Corporation, Anadarko Petroleum Corporation, Marathon Oil Corporation, Kerr-McGee Corporation, Nexen Inc., BHP, Amerada Hess, Helix, Oceaneering International, Inc., Subsea 7, Inc., Transocean Offshore, Diamond Offshore, Marinette Marine Corporation, Acergy, Veolia Environmental Services, Noble Energy Inc., Aker Kvaerner, Cameron, Oil States, Dril-Quip, Inc., Nexans, Cabett, JDR, and Duco, among others. For further company information, please visit http://www.deepdowninc.com and http://www.electrowaveusa.com
One of our most important responsibilities is to communicate with shareholders in an open and direct manner. Comments are based on current management expectations, and are considered "forward-looking statements," generally preceded by words such as "plans," "expects," "believes," "anticipates," or "intends." We cannot promise future returns. Our statements reflect our best judgment at the time they are issued, and we disclaim any obligation to update or alter forward-looking statements as the result of new information or future events. Deep Down urges investors to review the risks and uncertainties contained within its filings with the Securities and Exchange Commission.
-------------------------------------------------------------------------------- Source: Deep Down, Inc.
Posted by wdcisco on :
Why is it going down?!!! wtf!
Posted by PCola77 on :
Oh no! Duck and cover!
quote:Originally posted by Stockstar69:
quote:Originally posted by PCola77: Back down under $0.90...
Good buying opportunity...LOL-Did I say that?
Posted by Homersbud on :
Well that sucked.
Posted by Stockstar69 on :
Makes sense now though with the news...Yes, here it is AGAIN! Bump...
Deep Down Announces Acquisition of Mako Technologies HOUSTON, Dec. 18 /PRNewswire-FirstCall/ -- Deep Down, Inc. (OTC Bulletin Board: DPDW) today announced that it has signed a definitive purchase agreement to purchase Mako Technologies, Inc. ('Mako'). Headquartered in Morgan City, Louisiana, Mako serves the growing offshore petroleum and marine industries with technical support services, and products vital to offshore petroleum production, through rentals of its remotely operated vehicles (ROV), topside and subsea equipment, and diving support systems used in diving operations, maintenance and repair operations, offshore construction, and environmental/marine surveys.
'The total cost of acquiring Mako is a maximum of $5.0 million in cash and 11,269,841 shares of common stock of Deep Down based on Mako management's expectation of $2,400,000 in earnings before depreciation, interest, amortization, taxes and other non-cash charges ('EBITDA'), after also adjusting for certain non-recurring expenses, for the fiscal year ending December 31, 2007. As part of this acquisition, Deep Down will also pay off approximately $800,000 in Mako bank debt. The first installment of $2,916,667 in cash and 6,574,074 shares of common stock of Deep Down is expected to be paid at closing within the next few days, and the balance of up to $2,083,333 in cash and 4,695,767 shares of common stock of Deep Down will be paid upon completion of an audit to verify adjusted EBITDA expectations for the fiscal year ending December 31, 2007,' commented Robert E. Chamberlain, Jr., Deep Down's Chairman.
'We are very pleased to have signed the acquisition agreement with Mako, and believe this non-dilutive transaction is extremely beneficial for Deep Down and our shareholders as we continue to add products and services to our portfolio of capabilities,' commented Ron E. Smith, Deep Down's President and CEO. 'We believe we can significantly enhance Mako's current annual revenue base of approximately $6.8 million by expanding the equipment rental pool and ROV fleet.'
'An expansion of the ROV fleet can yield benefits beyond increased rental income, including increased service revenue from two and three man ROV operating crews and the opportunity to sell additional launch and retrieval systems ('LARS'). Prospect Capital Corporation is providing $6,000,000 in debt to fund the cash requirements and expenses associated with this transaction. Terms are substantially the same as those in the initial borrowing that was concluded in August 2007,' said Eugene L. Butler, Deep Down's CFO.
'With Deep Down's relationships and access to capital, we foresee the ability to expand our ROV fleet and take advantage of our customers' growing need for both planned and 'emergency' offshore rental equipment in support of their growing level of oil and gas exploration occurring in the Gulf of Mexico. We also plan to expand our operations internationally,' commented Jacob Marcell, Mako Technologies' chief executive officer.
About Prospect Capital Corporation
Prospect Capital Corporation (http://www.prospectstreet.com) is a closed-end investment company that lends to and invests in private and microcap public businesses. Prospect Capital's investment objective is to generate both current income and capital appreciation through debt and equity investments.
Posted by Homersbud on :
I don't understand why this is going down. MAKO haven't received anything, so they aren't selling.
Company selling to help pay off the $800k debt by MAKO?
Posted by captain america on :
the share structure is the same as the last time i called so i dont think there is dilution..imo
dont be shy and call for yourself.
79,402,458 0/s 11,768,790 float 490m authorized
Transfer Agent: Cottonwood Stock Transfer Corporation 5899 South State Street Salt Lake City, Utah 84107 Tel: 801-266-7151 Fax: 801-262-0907
Posted by Stockstar69 on :
quote:Originally posted by Homersbud: I don't understand why this is going down. MAKO haven't received anything, so they aren't selling.
Company selling to help pay off the $800k debt by MAKO?
Maybe? Either way, I think we are OK in the long run. I'm amazed at the people who will buy and sell stocks without even looking at why they may be moving.
Posted by PCola77 on :
That just literally made me laugh out loud.
Chart readers: Not pleased.
quote:Originally posted by Stockstar69: I'm amazed at the people who will buy and sell stocks without even looking at why they may be moving.
Posted by Stockstar69 on :
Pcola...Glad I can make you laugh.
Some people just ride the wave. Don't even look at the charts.
I was actually referring to press releases, SEC Filings, pending news - mergers, debt reduction, outstanding float...stuff like that.
Posted by GlassCrasher on :
God, what happened here? I feel like I got run over by a mack truck. Live and learn. I'm becoming a trader from now on. It seems as if longs always get phucked up the a$$.
Posted by Homersbud on :
quote:Originally posted by GlassCrasher: It seems as if longs always get phucked up the a$$.
Yup! Going long only works in big board stocks.
I thought this was the news everyone was waiting for?? No idea...I took my losses at .87 from .915, damn.
Posted by Stockstar69 on :
quote:Originally posted by GlassCrasher: God, what happened here? I feel like I got run over by a mack truck. Live and learn. I'm becoming a trader from now on. It seems as if longs always get phucked up the a$$.
Can't argue with your logic on this particular instance.
I think DPDW will be fine in the long run but hate the roller coaster ride we are currently on.
Posted by stefan9 on :
Looks like a repeat of last December
Posted by Stockstar69 on :
Nice recovery today...going back up!
Posted by Stockstar69 on :
Just picked up more shares at .95. I couldn't resist it, it's just too dang CHEAP!
Posted by Stockstar69 on :
BoonMarket.com: BoonMarket.com Announces Coverage of Deep Down, Inc. 4:15 AM ET - M2
BoonMarket.com announced today their renewed interest in Deep Down, Inc. (OTCBB: DPDW). DPDW has been mentioned by BoonMarket.com in the past and recent developments within the company have compelled BoonMarket.com to closely follow DPDW once again.
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Deep Down Announces Acquisition of Mako Technologies
Deep Down, Inc. today announced that it has signed a definitive purchase agreement to purchase Mako Technologies, Inc. ("Mako"). Headquartered in Morgan City, Louisiana, Mako serves the growing offshore petroleum and marine industries with technical support services, and products vital to offshore petroleum production, through rentals of its remotely operated vehicles (ROV), topside and subsea equipment, and diving support systems used in diving operations, maintenance and repair operations, offshore construction, and environmental/marine surveys.
"The total cost of acquiring Mako is a maximum of $5.0 million in cash and 11,269,841 shares of common stock of Deep Down based on Mako management's expectation of $2,400,000 in earnings before depreciation, interest, amortization, taxes and other non-cash charges ("EBITDA"), after also adjusting for certain non-recurring expenses, for the fiscal year ending December 31, 2007. As part of this acquisition, Deep Down will also pay off approximately $800,000 in Mako bank debt. The first installment of $2,916,667 in cash and 6,574,074 shares of common stock of Deep Down is expected to be paid at closing within the next few days, and the balance of up to $2,083,333 in cash and 4,695,767 shares of common stock of Deep Down will be paid upon completion of an audit to verify adjusted EBITDA expectations for the fiscal year ending December 31, 2007," commented Robert E. Chamberlain, Jr., Deep Down's Chairman.
Posted by captain america on :
Deep Down Completes Unique Installation Project Friday December 21, 6:12 pm ET
HOUSTON, Dec. 21 /PRNewswire-FirstCall/ -- Deep Down, Inc. (OTC Bulletin Board: DPDW - News) developed a unique installation and recovery procedure for a major operator in the Gulf of Mexico that allowed a new subsea well to be brought online nearly a year earlier than would have otherwise been possible due to long lead times in the delivery of umbilicals and flexible flowlines. The operator contacted Saipem to recover a decommissioned flexible flowline Jumper and use an existing umbilical to control a new well with minimal hardware and installation costs. Saipem contracted Deep Down to develop and manage the installation and recovery procedures in approximately 2,750 feet of water, using its innovative techniques and support services, and to deploy its ancillary equipment and personnel to augment Saipem's ROV construction vessel capabilities. This work had to be performed at very fast pace.
ADVERTISEMENT click here Ron Smith, Deep Down's President & CEO developed and supervised the installation and recovery procedures. Deep Down used its specialized, modular, compact HDU (Horizontal drive unit), mini carousel and 5 ton tensioner to recover a 4" Wellstream flexible flowline jumper with Oilstate connectors on both ends. The flowline was shipped onshore to be cut in half. Each end was terminated with a flanged interface and successfully hydrotested.
A 2,910 foot long composite jumper, conceived by the operator, was created at Deep Down by placing the flexible flowline jumpers on each end of a 1800 foot length of spooled 4" coiled tubing. Flanges were welded on and then x-rayed. Thermoplastic bend limiters were added to the end of the flexible to coiled tubing interface along with the original bend limiters that were on the oilstates end of the jumper. Deep Down filled and tested the composite well jumper and then dewatered it with Nitrogen.
A special 30-ton, 4-track tensioner was used to successfully install and connect the composite jumper on both ends in approximately 24 hours. The purpose of the jumper was to extend an existing flowline to the new well. The installation tension was 15 tons. After the jumper was installed, the empty Deep Down carousel was used to recover the SUTA (Subsea Umbilical Termination Assembly) and 2.5 miles of umbilical towards the platform and immediately re-laid towards the new well.
"In order to provide the innovative services required by operators in deep water, we have to work as a cohesive unit with other suppliers in the pursuit of common goals. This project highlighted the effectiveness of our ability to work jointly with Saipem to deliver solutions to challenging issues that were being faced by the operator. Cooperation between Deep Down's specialized deepwater installation crews and Saipem's specialized service technicians, enabled us to safely accomplish these tasks in an expedited fashion. As a result, we were able to work in the harshest time of the year within very small weather windows to recover a jumper, install a new 2,900 foot long 4" composite well jumper, and recover several miles of umbilical, relaying it to a completely different location in three days. I enjoy working with these specialized teams to provide innovative services. Total customer satisfaction, as evidenced by the smiles on the faces of our clients when the projects are successfully completed, is everything for us," commented Ronald E. Smith.
Deep Down has in its possession a Baricon 30-ton, 4-track tensioner which is available for use in the Gulf of Mexico. Deep Down is presently booking commitments for its use.
About Deep Down, Inc.
Deep Down specializes in the provision of innovative solutions, installation management, engineering services, support services, custom fabrication and storage management services for the offshore subsea control, umbilical, and pipeline industries. The company fabricates component parts of subsea distribution systems and assemblies that specialize in the development of subsea fields and tie backs. These items include umbilicals, flow lines, distribution systems, pipeline terminations, controls, winches, and launch and retrieval systems, among others. Deep Down provides these services from the initial field conception phase, through manufacturing, site integration testing, installation, topside connections, and the final commissioning of a project. The Company's ElectroWave subsidiary offers products and services in the fields of electronic monitoring and control systems for the energy, military, and commercial business sectors. ElectroWave designs, manufactures, installs, and commissions integrated PLC and SCADA based instrumentation and control systems, including ballast control and monitoring, drilling instrumentation, vessel management systems, marine advisory systems, machinery plant control and monitoring systems, and closed circuit television systems. The Company's Mako Technologies subsidiary serves the growing offshore petroleum and marine industries with technical support services, and products vital to offshore petroleum production, through rentals of its remotely operated vehicles (ROV), topside and subsea equipment, and diving support systems used in diving operations, maintenance and repair operations, offshore construction, and environmental/marine surveys
The Company's strategy is to consolidate service providers to the offshore industry, as well as designers and manufacturers of subsea, surface, and offshore rig equipment used by major, independent, and foreign national oil and gas companies in deep-water exploration and production of oil and gas throughout the world. Deep Down's customers include BP Petroleum, Royal Dutch Shell, Exxon Mobil Corporation, Devon Energy Corporation, Chevron Corporation, Anadarko Petroleum Corporation, Marathon Oil Corporation, Kerr-McGee Corporation, Nexen Inc., BHP, Amerada Hess, Helix, Oceaneering International, Inc., Subsea 7, Inc., Transocean Offshore, Diamond Offshore, Marinette Marine Corporation, Acergy, Veolia Environmental Services, Noble Energy Inc., Aker Kvaerner, Cameron, Oil States, Dril-Quip, Inc., Nexans, Cabett, JDR, and Duco, among others. For further company information, please visit http://www.deepdowninc.com and http://www.electrowaveusa.com
One of our most important responsibilities is to communicate with shareholders in an open and direct manner. Comments are based on current management expectations, and are considered "forward-looking statements," generally preceded by words such as "plans," "expects," "believes," "anticipates," or "intends." We cannot promise future returns. Our statements reflect our best judgment at the time they are issued, and we disclaim any obligation to update or alter forward-looking statements as the result of new information or future events. Deep Down urges investors to review the risks and uncertainties contained within its filings with the Securities and Exchange Commission.
get on for another ride ..lol
Posted by wdcisco on :
If they keep poppin' out these PR's heck ya..
Posted by captain america on :
what a connection for dpdw
Saipem awarded new drilling contracts
worth approximately USD 1.25 billion
San Donato Milanese (Milan), 20 December 2007 – Saipem has been awarded new offshore and onshore drilling contracts worth a total value of approximately USD 1.25 billion. The contracts are for the charter of the deepwater drillship Saipem 12000, along with the charter of ten onshore rigs.
The offshore contract has been assigned to Saipem by Total and encompasses the charter of the deepwater drillship Saipem 12000 for a period of five years with the option of two additional years. The Saipem 12000 drillship is under construction in a Samsung Heavy Industries shipyard in Korea and the rig delivery is expected in the first quarter of 2010. The drillship will be used for the development of the Pazflor field in Angola, starting from the time of delivery up until the first quarter of 2015.
The onshore contracts are for the charter of ten onshore rigs, eight of which are new-built units, for drilling activities in South America. The contracts have been awarded to Saipem by various oil companies for activities in Peru, Venezuela and Brazil and have an average duration of four years for the eight new-built units and of one and a half years for the two units already existing.
Saipem, 43% owned by Eni, is organised in three Business Units: Offshore, Onshore and Drilling, with a strong bias towards oil & gas related activities in remote areas and deepwater. Saipem is a leader in the provision of engineering, procurement, project management and construction services with distinctive capabilities in the design and the execution of large scale offshore and onshore projects and technological competences such as gas monetisation and heavy oil exploitation.
Website: www.saipem.eni.it Switchboard: +39-025201 Shareholder Information: Saipem S.p.A., Via Martiri di Cefalonia, 67 - 20097 San Donato Milanese (MI), Italy
Relations with institutional investors and financial analysts:
Tel.: +39-02520.34653 Fax: +39-02520.54295
E-mail: investor.relations*saipem.eni.it
Posted by Stockstar69 on :
quote:Originally posted by captain america: what a connection for dpdw
Saipem awarded new drilling contracts
worth approximately USD 1.25 billion
San Donato Milanese (Milan), 20 December 2007 – Saipem has been awarded new offshore and onshore drilling contracts worth a total value of approximately USD 1.25 billion. The contracts are for the charter of the deepwater drillship Saipem 12000, along with the charter of ten onshore rigs.
The offshore contract has been assigned to Saipem by Total and encompasses the charter of the deepwater drillship Saipem 12000 for a period of five years with the option of two additional years. The Saipem 12000 drillship is under construction in a Samsung Heavy Industries shipyard in Korea and the rig delivery is expected in the first quarter of 2010. The drillship will be used for the development of the Pazflor field in Angola, starting from the time of delivery up until the first quarter of 2015.
The onshore contracts are for the charter of ten onshore rigs, eight of which are new-built units, for drilling activities in South America. The contracts have been awarded to Saipem by various oil companies for activities in Peru, Venezuela and Brazil and have an average duration of four years for the eight new-built units and of one and a half years for the two units already existing.
Saipem, 43% owned by Eni, is organised in three Business Units: Offshore, Onshore and Drilling, with a strong bias towards oil & gas related activities in remote areas and deepwater. Saipem is a leader in the provision of engineering, procurement, project management and construction services with distinctive capabilities in the design and the execution of large scale offshore and onshore projects and technological competences such as gas monetisation and heavy oil exploitation.
Website: www.saipem.eni.it Switchboard: +39-025201 Shareholder Information: Saipem S.p.A., Via Martiri di Cefalonia, 67 - 20097 San Donato Milanese (MI), Italy
Relations with institutional investors and financial analysts:
Tel.: +39-02520.34653 Fax: +39-02520.54295
E-mail: investor.relations*saipem.eni.it
Posted by Stockstar69 on :
NEWS
Deep Down Delivers Deepest Rated LARS in the World HOUSTON, Jan. 2 /PRNewswire-FirstCall/ -- Deep Down, Inc. (OTC Bulletin Board: DPDW) has recently delivered what is believed to be the deepest class rated Launch and Retrieval System ('LARS') in the world. The 4,000 meter rated LARS was specially designed for subsea load handling, lifting and tensioning, and launch and retrieval of specialized undersea equipment, including Remote Operated Vehicles ('ROV'), in ultra-deep and harsh subsea environments. Special functions include auto-variable speed control (load dependent), wire spooling and guide systems, grooved drums, emergency release capabilities, gravity lowering, emergency hoisting abilities, and a water-cooled drum to reduce heat on the umbilical, among others. The safe working load of the LARS is 28 tonnes, and the system is capable of delivering payloads at speeds of up to 76 meters per minute. Another unique feature of this LARS is the specially designed wraparound level wind sensor system which allows for more sensitive yet smoother operation in rugged, high-load, ultra-high deepwater applications. Deep Down plans to secure a patent for this very important feature. The 4000 meter LARS was sold to Perry Slingsby Systems, Inc. ('Perry') for integration with their new 4,000 meter rated ROV. Perry has produced more ROV systems than all other manufacturers combined.
Perry sold this system to Veolia ES Special Services, Inc. ('Veolia') which has placed the system on their newly-built state-of-the-art DSV MT-6016 vessel, named the Swordfish. Designed with cutting-edge technology, the new ship was custom-designed to allow Veolia to take on more complex subsea construction and dive-support projects. The Swordfish also has a Deep Down 3,000 meter rated LARS leased to them with a Perry ROV. A second 4000 meter rated LARS is expected to be delivered to Perry as soon as factory acceptance testing has been completed. The second LARS will also be sold to Veolia with a Perry ROV. Deep Down expects to sell additional LARS units of this class with an average minimum sales price of approximately $1.4 million each, depending on individual custom-engineered features and capabilities as requested by our clients.
'It is exciting to know that the new Flagship for Veolia, the Swordfish, is set up for ultra deepwater environments and will have two Perry ROVs and two Deep Down LARS to help them accomplish their more challenging deepwater tasks. 2008 looks to be a very promising year, and our goal is to provide the best support possible to our clients, helping them meet their deepwater challenges with greater confidence,' said Ron Smith, Deep Down's CEO. 'We will continue to use proprietary-built state-of-the-art equipment (and third-party equipment such as the Baricon 30-ton, 4-track tensioner), engineering, and custom-developed installation and retrieval management systems to deliver cost-effective solutions, thereby distinguishing ourselves as the premier 'first call' for our clients when confronted with a variety of challenges in ultra deepwater and harsh subsea environments', he continued.
Posted by woswill on :
Got back in earlier =)
Posted by Stockstar69 on :
Another find....Looks like we are revving up for a GREAT 2008.
LOOKIN' GOOOOOOODDDD!!!!!
Posted by Stockstar69 on :
Talking heads were talking about oil service sector stocks this morning. Didn't mention our baby DPDW but the sector in general should be hot as more drillers need more equipment for deep sea exploration.
Posted by Stockstar69 on :
DPDW is moving nicely today but I probably cursed it now.
Actually with the year end tax sellers out of the way and the nice PR's recently and to come we should be moving a lot higher in the coming months.
Posted by woswill on :
I averaged up, would like to see this retest those highs a couple months ago
Posted by wdcisco on :
AWESOME!!!!!!! I'd like to see it break that resistance though.
Posted by woswill on :
wow..
someone just unloaded a ton of shares
Posted by Stockstar69 on :
Getting harder and harder to push it's way up.
Someone is flipping...or selling outright but they will be sorry.
Posted by jrtfan on :
News out:
Deep Down Highlights Major Role of Horizontal Drive Units Last update: 1/8/2008 10:00:00 AM HOUSTON, Jan 08, 2008 /PRNewswire-FirstCall via COMTEX/ -- Deep Down, Inc.'s (DPDW) proprietary Horizontal Drive Units (HDU) have played a major role and had a significant impact on offshore projects for various customers, during 2007, in the deployment and recovery of certain lighter-duty, flexible and not so flexible components of the subsea distribution system which connects offshore platforms to oil and gas wells on the ocean floor. First introduced in 1998, the HDU was developed by Deep Down as an alternative to industry-accepted vertical drive units to specifically enable substantially quicker, safer and more cost-effective installations of steel flying leads and specialty cables. The HDU eliminates the undesirable, and potentially hazardous, uneven tension experienced by steel flying leads and specialty cables during deployment and retrieval operations, as well as spooling, with vertical drive units. This uneven tension can often lead to balancing and other problems due to alternative cycles of slackening and tightening due to variability in the centrifugal forces that are experienced through a vertical drive unit. The use of Deep Down's HDUs also ensures quicker and safer non-permitted transportation of its proprietary Rapid Deployment Cartridges (RDCs), Subsea Deployment Baskets (SDBs) and carousels since these items can be placed on the HDU adapters with loads kept very low to the ground. After exceeding the expectations of its original design during several key installation projects over the past several years, the benefits of the HDU are receiving increasing attention in an accelerated fashion in the offshore market. Ron Smith, Deep Down CEO, said, "Our Horizontal Drive Units have made a significant contribution on subsea projects throughout the Gulf of Mexico. Installation contractors expend large amounts of capital to outfit their vessels with dedicated, high-tension deployment and recovery equipment required to put major systems in deep water. Ease of deployment, floor-space and safety are key considerations for these contactors. Our proprietary RDCs, SDBs and carousels can each be independently attached to the HDU. These additional components, including the HDU, can be stacked, thereby, saving valuable deck space on installation vessels. This is in stark contrast to the vertical drive units of our competitors, which are non-stackable and usually fixed and non-interchangeable. The ease of removing large terminations from the roof of our carousel or wings of our RDC, while attached to a crane as it turns the last two revolutions, is also a major advantage of the horizontal system. All these benefits combine to make our HDU, and its complementary, detachable RDCs, SDBs and carousels very attractive to our customers. We are proud of the support we have rendered in 2007, and we look forward to providing even more critical support to our customers in 2008." During 2007, our Horizontal Drive Units were used to perform deployment and recovery functions on the following projects:
1. Oceaneering Flying leads in Panama City Florida 2. Chevron Agbami flying leads for Subsea 7 3. Noble Energy Lost Ark 2 Composite Jumper for Saipem 4. BP King Pump Electrical Power flying lead and steel flying leads for Saipem 5. Noble Energy Lost Ark 1 flexible flowline Jumper for Saipem 6. Mariner Bass Lite Steel Flying leads for Technip 7. Independence Hub Steel Flying leads for Subsea 7 and for Anadarko 8. BP Thunderhorse Steel flying lead, ADCP, and RMS [define and name ADCP and RMS] 9. Chevron Agbami Flexible Flowline jumpers for FMC 10. Bluewater Gomez Steel flying leads for Drill Quip 11. New Field Steel flying lead
About Deep Down, Inc. Deep Down specializes in the provision of innovative solutions, installation management, engineering services, support services, custom fabrication and storage management services for the offshore subsea control, umbilical, and pipeline industries. The company fabricates component parts of subsea distribution systems and assemblies that specialize in the development of subsea fields and tie backs. These items include umbilicals, flow lines, distribution systems, pipeline terminations, controls, winches, and launch and retrieval systems, among others. Deep Down provides these services from the initial field conception phase, through manufacturing, site integration testing, installation, topside connections, and the final commissioning of a project. The Company's ElectroWave subsidiary offers products and services in the fields of electronic monitoring and control systems for the energy, military, and commercial business sectors. ElectroWave designs, manufactures, installs, and commissions integrated PLC and SCADA based instrumentation and control systems, including ballast control and monitoring, drilling instrumentation, vessel management systems, marine advisory systems, machinery plant control and monitoring systems, and closed circuit television systems. The Company's Mako Technologies subsidiary serves the growing offshore petroleum and marine industries with technical support services, and products vital to offshore petroleum production, through rentals of its remotely operated vehicles (ROV), topside and subsea equipment, and diving support systems used in diving operations, maintenance and repair operations, offshore construction, and environmental/marine surveys The Company's strategy is to consolidate service providers to the offshore industry, as well as designers and manufacturers of subsea, surface, and offshore rig equipment used by major, independent, and foreign national oil and gas companies in deep-water exploration and production of oil and gas throughout the world. Deep Down's customers include BP Petroleum, Royal Dutch Shell, Exxon Mobil Corporation, Devon Energy Corporation, Chevron Corporation, Anadarko Petroleum Corporation, Marathon Oil Corporation, Kerr-McGee Corporation, Nexen Inc., BHP, Amerada Hess, Helix, Oceaneering International, Inc., Subsea 7, Inc., Transocean Offshore, Diamond Offshore, Marinette Marine Corporation, Acergy, Veolia Environmental Services, Noble Energy Inc., Aker Kvaerner, Cameron, Oil States, Dril-Quip, Inc., Nexans, Cabett, JDR, and Duco, among others. For further company information, please visit and One of our most important responsibilities is to communicate with shareholders in an open and direct manner. Comments are based on current management expectations, and are considered "forward-looking statements," generally preceded by words such as "plans," "expects," "believes," "anticipates," or "intends." We cannot promise future returns. Our statements reflect our best judgment at the time they are issued, and we disclaim any obligation to update or alter forward-looking statements as the result of new information or future events. Deep Down urges investors to review the risks and uncertainties contained within its filings with the Securities and Exchange Commission.
Posted by Stockstar69 on :
More good news. This company does things right!
Posted by wdcisco on :
Why does it go down when news comes out?????!!!
Oh..there vow for no dilution is up ahha!
Posted by Stockstar69 on :
This is interesting also.
Posted by Stockstar69 on :
More News...WOW, 4th PR of the new year. It's going to be a good year!
Deep Down Announces Funding of Mako Technologies Acquisition 10 minutes ago - PR Newswire
Deep Down, Inc. (OTC Bulletin Board: DPDW) today announced that it has closed on its anticipated additional $6,000,000 in debt financing with Prospect Capital Corporation to fund its acquisition of Mako Technologies, Inc. ("Mako"). Headquartered in Morgan City, Louisiana, Mako serves the growing offshore petroleum and marine industries with technical support services, and products vital to offshore petroleum production, through rentals of its remotely operated vehicles (ROV), topside and subsea equipment, and diving support systems used in diving operations, maintenance and repair operations, offshore construction, and environmental/marine surveys.
As part of this funding, Deep Down paid $2,916,667 in cash, issued 6,574,074 restricted shares of common stock of Deep Down and paid off an aggregate of $917,676 in Mako bank debt. Up to $2,083,333 in cash and 4,695,767 restricted shares of common stock of Deep Down will be paid upon completion of an audit to verify adjusted EBITDA expectations for the fiscal year ending December 31, 2007.
About Deep Down, Inc.
Deep Down specializes in the provision of innovative solutions, installation management, engineering services, support services, custom fabrication and storage management services for the offshore subsea control, umbilical, and pipeline industries. The company fabricates component parts of subsea distribution systems and assemblies that specialize in the development of subsea fields and tie backs. These items include umbilicals, flow lines, distribution systems, pipeline terminations, controls, winches, and launch and retrieval systems, among others. Deep Down provides these services from the initial field conception phase, through manufacturing, site integration testing, installation, topside connections, and the final commissioning of a project. The Company's ElectroWave subsidiary offers products and services in the fields of electronic monitoring and control systems for the energy, military, and commercial business sectors. ElectroWave designs, manufactures, installs, and commissions integrated PLC and SCADA based instrumentation and control systems, including ballast control and monitoring, drilling instrumentation, vessel management systems, marine advisory systems, machinery plant control and monitoring systems, and closed circuit television systems.
The Company's strategy is to consolidate service providers to the offshore industry, as well as designers and manufacturers of subsea, surface, and offshore rig equipment used by major, independent, and foreign national oil and gas companies in deep-water exploration and production of oil and gas throughout the world. Deep Down's customers include BP Petroleum, Royal Dutch Shell, Exxon Mobil Corporation, Devon Energy Corporation, Chevron Corporation, Anadarko Petroleum Corporation, Marathon Oil Corporation, Kerr-McGee Corporation, Nexen Inc., BHP, Amerada Hess, Helix, Oceaneering International, Inc., Subsea 7, Inc., Transocean Offshore, Diamond Offshore, Marinette Marine Corporation, Acergy, Veolia Environmental Services, Noble Energy Inc., Aker Kvaerner, Cameron, Oil States, Dril-Quip, Inc., Nexans, Cabett, JDR, and Duco, among others. For further company information, please visit http://www.deepdowninc.com and http://www.electrowaveusa.com
One of our most important responsibilities is to communicate with shareholders in an open and direct manner. Comments are based on current management expectations, and are considered "forward-looking statements," generally preceded by words such as "plans," "expects," "believes," "anticipates," or "intends." We cannot promise future returns. Our statements reflect our best judgment at the time they are issued, and we disclaim any obligation to update or alter forward-looking statements as the result of new information or future events. Deep Down urges investors to review the risks and uncertainties contained within its filings with the Securities and Exchange Commission.
Volume is all we need and this baby will FLY!
Posted by Stockstar69 on :
quote:Originally posted by wes19c: Volume is all we need and this baby will FLY!
I think there is some MM conspiracy unknown to us. We should be going up.
Posted by Free Muney on :
looks like support at this price imo... if it falls past .78 watch out below. may crash to the flooooooooor.
Posted by jrtfan on :
And I'll be picking up the shares at the bottom. This is a good company and it will eventually rebound. If I can get bargain basement shares, I'll do it!
Posted by wes19c on :
quote:Originally posted by Stockstar69:
quote:Originally posted by wes19c: Volume is all we need and this baby will FLY!
I think there is some MM conspiracy unknown to us. We should be going up.
There is some bigtime MM manipulation going on. It seems theres always an impenetrable wall sitting on the ask. Once we break the resistance its off we go!! patience is the key with this one.
Posted by Stockstar69 on :
Yes, I totally agree. While it's difficult to be patient when other stocks are moving around us, it is only a matter of time before this company is noticed by the big fish. DR is a good step and as I said before, any storms can bring major revenue to this company not to mention daily oil searches.
Posted by wes19c on :
quote:Originally posted by Stockstar69: Yes, I totally agree. While it's difficult to be patient when other stocks are moving around us, it is only a matter of time before this company is noticed by the big fish. DR is a good step and as I said before, any storms can bring major revenue to this company not to mention daily oil searches.
Exactly. I own quite a few shares of DPDW and i need to free up some money because there are some other short term plays i have found. Problem is, I'm afraid to sell any shares because anyday now this baby will run. So, alas, i play the waiting game. Time is on the side of the investor and i believe patience will be rewarded handsomely with this stock, jmho.
Posted by Stockstar69 on :
quote:Originally posted by wes19c:
quote:Originally posted by Stockstar69: Yes, I totally agree. While it's difficult to be patient when other stocks are moving around us, it is only a matter of time before this company is noticed by the big fish. DR is a good step and as I said before, any storms can bring major revenue to this company not to mention daily oil searches.
Exactly. I own quite a few shares of DPDW and i need to free up some money because there are some other short term plays i have found. Problem is, I'm afraid to sell any shares because anyday now this baby will run. So, alas, i play the waiting game. Time is on the side of the investor and i believe patience will be rewarded handsomely with this stock, jmho.
Looks like we are in the same boat... Fortunately I have enough stocks dropping at the moment I can sell those and bounce around. Last week it was Caterpillar, Today it was Disney.
Posted by woswill on :
Got back in today
Posted by jrtfan on :
Great buy, IMO. I know it's beaten and down right now, but it's an excellent company with strong financials. I'm holding mine too. If I had some more liquidity, I'd be picking up shares too.
Posted by Stockstar69 on :
quote:Originally posted by jrtfan: Great buy, IMO. I know it's beaten and down right now, but it's an excellent company with strong financials. I'm holding mine too. If I had some more liquidity, I'd be picking up shares too.
That's the tricky part...Having liquid cash when we really need it without having to sell something you really don't want to.
Posted by jrtfan on :
Had that problem today. I sold some SYDI at a nice profit to get into a quick RVGD, but it seemed worth it. I would have preferred to hold my position though.
Posted by woswill on :
hopefully it has that morning dip again, i got my limit order ready =)
Posted by Stockstar69 on :
quote:Originally posted by woswill: hopefully it has that morning dip again, i got my limit order ready =)
Good luck to you! And all of us.
Posted by GlassCrasher on :
Great day today, up on news with a hint of uplisting !!!
Deep Down Hires Corporate Controller Thursday January 24, 1:37 pm ET
HOUSTON, Jan. 24 /PRNewswire-FirstCall/ -- Deep Down, Inc. (OTC Bulletin Board: DPDW - News) today announced that it has hired Michael Teal to fill the position of corporate controller. ADVERTISEMENT
With his MBA/CPA credentials, Mr. Teal brings significant experience in mergers and acquisitions, business development, business valuations, investment analysis, strategic planning, debt financing, equity issues, bank lines, and financial planning. His background has primarily been in the energy industry encompassing refining, natural gas, power generation, oil and gas exploration, marine services, and risk management. Since 1984, Mr. Teal has held various corporate-level positions in accounting, treasury, and corporate finance functions with major energy companies, most notably Valero Energy Corporation, The Coastal Corporation, and El Paso Corporation. Recently, he has provided consultation services to major Houston and Dallas corporations, including a position as Senior Consultant with Sirius Solutions.
"Mr. Teal fills a critical vacancy on our management team as we continue to prepare and position ourselves for further growth through mergers and acquisitions and internal operations. We are very excited about the skills Mr. Teal brings to our team. He will be responsible for the coordination and integration of the accounting activities of each of Deep Down's current and future subsidiary operations. Mr. Teal also has relevant experience with the policies and procedures for compliance with regulations promulgated by Sarbanes-Oxley. Our goal is to reach full compliance during 2008," commented Robert E. Chamberlain, Jr., Deep Down's Chairman and Chief Acquisitions Officer (CAO). About Deep Down, Inc.
Deep Down specializes in the provision of innovative solutions, installation management, engineering services, support services, custom fabrication and storage management services for the offshore subsea control, umbilical, and pipeline industries. The company fabricates component parts of subsea distribution systems and assemblies that specialize in the development of subsea fields and tie backs. These items include umbilicals, flow lines, distribution systems, pipeline terminations, controls, winches, and launch and retrieval systems, among others. Deep Down provides these services from the initial field conception phase, through manufacturing, site integration testing, installation, topside connections, and the final commissioning of a project.
The Company's ElectroWave subsidiary offers products and services in the fields of electronic monitoring and control systems for the energy, military, and commercial business sectors. ElectroWave designs, manufactures, installs, and commissions integrated PLC and SCADA based instrumentation and control systems, including ballast control and monitoring, drilling instrumentation, vessel management systems, marine advisory systems, machinery plant control and monitoring systems, and closed circuit television systems.
The Company's Mako subsidiary serves the growing offshore petroleum and marine industries with technical support services, and products vital to offshore petroleum production, through rentals of its remotely operated vehicles (ROV), topside and subsea equipment, and diving support systems used in diving operations, maintenance and repair operations, offshore construction, and environmental/marine surveys.
The Company's strategy is to consolidate service providers to the offshore industry, as well as designers and manufacturers of subsea, surface, and offshore rig equipment used by major, independent, and foreign national oil and gas companies in deep-water exploration and production of oil and gas throughout the world. Deep Down's customers include BP Petroleum, Royal Dutch Shell, Exxon Mobil Corporation, Devon Energy Corporation, Chevron Corporation, Anadarko Petroleum Corporation, Marathon Oil Corporation, Kerr-McGee Corporation, Nexen Inc., BHP, Amerada Hess, Helix, Oceaneering International, Inc., Subsea 7, Inc., Transocean Offshore, Diamond Offshore, Marinette Marine Corporation, Acergy, Veolia Environmental Services, Noble Energy Inc., Aker Kvaerner, Cameron, Oil States, Dril-Quip, Inc., Nexans, Cabett, JDR, and Duco, among others. For further company information, please visit http://www.deepdowninc.com and http://www.electrowaveusa.com
One of our most important responsibilities is to communicate with shareholders in an open and direct manner. Comments are based on current management expectations, and are considered "forward-looking statements," generally preceded by words such as "plans," "expects," "believes," "anticipates," or "intends." We cannot promise future returns. Our statements reflect our best judgment at the time they are issued, and we disclaim any obligation to update or alter forward-looking statements as the result of new information or future events. Deep Down urges investors to review the risks and uncertainties contained within its filings with the Securities and Exchange Commission.
-------------------------------------------------------------------------------- Source: Deep Down, Inc.
Posted by Stockstar69 on :
This is good for several additional reasons.
DPDW no has a professional and experienced person leading them through the regulations and SOX compliance.
Would someone with so much experience really accept a position with a little know, sub dollar corporation unless they strongly thought the company was headed in the right direction?
Posted by PCola77 on :
LOL, I appreciate your enthusiasm, but that argument's a bit naive in my opinion. Someone with "so much experience" accepts a position when they are paid the amount of money that they think the job is worth. I don't think you should read into it any more than it's a dude that took a new job.
quote:Originally posted by Stockstar69: This is good for several additional reasons.
DPDW no has a professional and experienced person leading them through the regulations and SOX compliance.
Would someone with so much experience really accept a position with a little know, sub dollar corporation unless they strongly thought the company was headed in the right direction?
Posted by Stockstar69 on :
Hey PC...Yes, now thinking about it you are right. I was considering it from my personal perspective. And yes, I have know people making 6 figures who suddenly found them unemployed as the company went belly up. But I don't think that would happen with DPDW.
Posted by Stockstar69 on :
NEWS...
Deep Down Ships Proteus Active Heave Compensation Unit
PR Newswire "US Press Releases "
HOUSTON, Feb. 7 /PRNewswire-FirstCall/ -- Deep Down, Inc. (OTC Bulletin Board: DPDW) announced today that it has delivered a Proteus(TM) Active Heave Compensation Unit to Schlumberger for deployment in waters outside the Gulf of Mexico.
The Proteus system is designed to maintain vertical displacement of a subsea payload to within six-tenths of an inch even if the surface deployment vessel, or ship, is experiencing a heave of up to 30 feet. The control system monitors these vertical motions and compensates by releasing and retrieving the main winch to keep the payload essentially still. After extensive testing, Deep Down has further enhanced the performance of its Proteus system and added an additional roller guide option for extremely smooth operation. The mathematical algorithm embedded in the software has also been improved to allow the system to respond to changes in a ship's vertical motion within 0.5 milliseconds.
In addition to new stand-alone Proteus systems, Deep Down has the ability to deliver in-line active heave compensation systems that can be retrofitted to existing winches, thereby adding active heave capabilities to an existing infrastructure. This ability allows prospective customers to preserve their capital investment in existing winches and substantially reduces the cost of adding this increasingly important capability.
"Our Proteus design continues to exceed customer specifications. We are now capable of producing Proteus systems on a mass production level. In addition to the original vertical design for lighter load applications, we can also deliver a horizontal, scaled up, higher tension version of our active heave compensation system to augment Abandon and Retrieval winches in the 50-100 ton range. We envision these Proteus units selling from $500,000 for the smaller units up to $1.5 million each for the larger applications," says Ronald E. Smith, Deep Down's President & CEO.
"Our design uses no motors or gear boxes, and we can, therefore, deliver Proteus units very quickly. Proteus units can be added to an installation contractor's list of deepwater equipment to enhance their overall installation capabilities. Since we are not impacted by the long delivery times that exist for motors and gear boxes, an installation contractor can add a Proteus unit to their inventory for use in soon to be initiated installation campaigns," concluded Smith.
Posted by captain america on :
User Name: DDI password: ddi6only
Posted by Stockstar69 on :
Crazy, sales-sales-sales and the PPS goes down?
Deep Down Receives $1.5 Million in Steel Flying Lead Orders 51 minutes ago - PR Newswire
Deep Down, Inc. (OTC Bulletin Board: DPDW) announced today that it has received orders for $1,500,000 worth of loose-tube steel flying leads (LSFLs).
Deep Down is adding new design features to its LSFLs to enable quicker deployment and installation in high current, deepwater environments with the aid of its horizontal drive units (HDUs) and rapid deployment cartridges (RDCs). The Company expects to complete the design, manufacture, and delivery of these LSFLs to both of its clients, Helix Energy Solutions Group, Inc. and VetcoGray, Inc., within the next 90 days.
Deep Down has improved its manufacturing procedures to allow for mass production of steel flying leads (SFLs) and associated components for large scale projects. Deep Down was instrumentally involved in the visionary development of the SFL concept, as well as its deployment procedures approximately ten years ago. The original design continues to evolve as the industry initiates exploration and production projects in deeper water.
Ron Smith, Deep Down's chief executive officer commented, "Our goal is to be the number one choice for the supply, and offshore support, of all types of SFLs, based on quality of product, quicker delivery times, and efficiency of product installation. We can manufacture SFLs up to 10,000 feet in length with any J-plate desired, with or without electrical cables included. Another important goal is to continue to simplify procedures so that subsea connections are easier to complete, whether by fully experienced remote operated vehicle (ROV) crews, or ROV crews new to our product line."
About Deep Down, Inc.
Deep Down specializes in the provision of innovative solutions, installation management, engineering services, support services, custom fabrication and storage management services for the offshore subsea control, umbilical, and pipeline industries. The company fabricates component parts of subsea distribution systems and assemblies that specialize in the development of subsea fields and tie backs. These items include umbilicals, flow lines, distribution systems, pipeline terminations, controls, winches, and launch and retrieval systems, among others. Deep Down provides these services from the initial field conception phase, through manufacturing, site integration testing, installation, topside connections, and the final commissioning of a project.
The Company's ElectroWave subsidiary offers products and services in the fields of electronic monitoring and control systems for the energy, military, and commercial business sectors. ElectroWave designs, manufactures, installs, and commissions integrated PLC and SCADA based instrumentation and control systems, including ballast control and monitoring, drilling instrumentation, vessel management systems, marine advisory systems, machinery plant control and monitoring systems, and closed circuit television systems.
The Company's Mako subsidiary serves the growing offshore petroleum and marine industries with technical support services, and products vital to offshore petroleum production, through rentals of its remotely operated vehicles (ROV), topside and subsea equipment, and diving support systems used in diving operations, maintenance and repair operations, offshore construction, and environmental/marine surveys.
The Company's strategy is to consolidate service providers to the offshore industry, as well as designers and manufacturers of subsea, surface, and offshore rig equipment used by major, independent, and foreign national oil and gas companies in deep-water exploration and production of oil and gas throughout the world. Deep Down's customers include BP Petroleum, Royal Dutch Shell, Exxon Mobil Corporation, Devon Energy Corporation, Chevron Corporation, Anadarko Petroleum Corporation, Marathon Oil Corporation, Kerr-McGee Corporation, Nexen Inc., BHP, Amerada Hess, Helix, Oceaneering International, Inc., Subsea 7, Inc., Transocean Offshore, Diamond Offshore, Marinette Marine Corporation, Acergy, Veolia Environmental Services, Noble Energy Inc., Aker Kvaerner, Cameron, Oil States, Dril-Quip, Inc., Nexans, Cabett, JDR, and Duco, among others. For further company information, please visit http://www.deepdowninc.com and http://www.electrowaveusa.com
Company information distributed through the Market Access Program is based upon information that Standard & Poor's considers to be reliable, but neither Standard & Poor's nor its affiliates warrant its completeness or accuracy, and it should not be relied upon as such. This material is not intended as an offer or solicitation for the purchase or sale of any security or other financial instrument.
One of our most important responsibilities is to communicate with shareholders in an open and direct manner. Comments are based on current management expectations, and are considered "forward-looking statements," generally preceded by words such as "plans," "expects," "believes," "anticipates," or "intends." We cannot promise future returns. Our statements reflect our best judgment at the time they are issued, and we disclaim any obligation to update or alter forward-looking statements as the result of new information or future events. Deep Down urges investors to review the risks and uncertainties contained within its filings with the Securities and Exchange Commission.
IMO ridiculously undervalued. This stock is gonna make some people alot of money after the 10k numbers come out. A steal at these levels. I wish i had some more powder
Posted by Stockstar69 on :
quote:Originally posted by wes19c: IMO ridiculously undervalued. This stock is gonna make some people alot of money after the 10k numbers come out. A steal at these levels. I wish i had some more powder
Finally, another clear minded person! I thought I was the only one that new about what the heck was going on.
Actually, there are a few folks out here.
BUY BUY BUY
Posted by PCola77 on :
Stockstar, you were yelling "Buy Buy Buy" when this thing was over $1. I wouldn't be bragging about a 50%ish loss...
Posted by BooDog on :
This needs to hold above .52 imo or could dip back as much as to .45 or even possibly .35. Also looking to break out above the downtrend line around .65 now, nice wedge forming even if we go sideways a bit.
Posted by wes19c on :
Alot of churning going on the past couple of days. Loading up for the next run. 10k due out in March. After that, this stock will never be back under a buck imo.
Posted by PCola77 on :
No offense man, but we've heard that line hundreds of times on hundreds of stocks, and probably 1% of the time the person is right. It's good to be optomistic, but don't get your hopes up too high.
quote:Originally posted by wes19c: Alot of churning going on the past couple of days. Loading up for the next run. 10k due out in March. After that, this stock will never be back under a buck imo.
Posted by wes19c on :
quote:Originally posted by PCola77: No offense man, but we've heard that line hundreds of times on hundreds of stocks, and probably 1% of the time the person is right. It's good to be optomistic, but don't get your hopes up too high.
To each his own, i guess. I've done my DD on this company so i'm confident with what i bought. Just do 10min worth of DD on this company and it becomes quite obvious that Deep Down Inc had some stellar growth in 07 and continues to grow in 08. They might hold the PPS down for a while but the fundamentals will win out every time, and i'm gonna be on board when that happens. JMHO!!
Posted by PCola77 on :
You've been around too long to genuinelybelieve that's true with penny stocks....
quote:Originally posted by wes19c: [QUOTE]fundamentals will win out every time
Posted by BooDog on :
quote:Originally posted by BooDog: This needs to hold above .52 imo or could dip back as much as to .45 or even possibly .35. Also looking to break out above the downtrend line around .65 now, nice wedge forming even if we go sideways a bit.
There's my .45
Posted by BooDog on :
quote:Originally posted by wes19c:
quote:Originally posted by PCola77: No offense man, but we've heard that line hundreds of times on hundreds of stocks, and probably 1% of the time the person is right. It's good to be optomistic, but don't get your hopes up too high.
To each his own, i guess. I've done my DD on this company so i'm confident with what i bought. Just do 10min worth of DD on this company and it becomes quite obvious that Deep Down Inc had some stellar growth in 07 and continues to grow in 08. They might hold the PPS down for a while but the fundamentals will win out every time, and i'm gonna be on board when that happens. JMHO!!
Fundamentals may help this recover through victory lane but with the market consistently pouring out the sky is falling news fundamentals take a back seat. And in many cases so does the worlds greatest chartest. The bears are winning imo. I look for a few decent gapers and throw $100 in when it looks about right and still it can get slammed against the wall.
Posted by wes19c on :
quote:Originally posted by PCola77: You've been around too long to genuinelybelieve that's true with penny stocks....
quote:Originally posted by wes19c: [QUOTE]fundamentals will win out every time
Ordinarily yes, but as i stated before, i've done extensive research on this company. IMHO DPDW is the exception to the rule. This is the only OTC stock that i've ever seen that i would feel comfortable holding over a period of months or even years. Proof will be out soon enough. If you read the recent PR's, there are a few hints of an uplisting this year perhaps IMO!!
Posted by PCola77 on :
Wes, do you know how often penny stock companies "hint of an uplisting"? And do you know what it actually takes to uplist? You do know that they would basically have to do a r/s to have any chance, right? And how many penny stocks have you EVER seen that actually hold their price or go up after a r/s?
And before you say that "this one is the exception", keep in mind that everyone says that about their stock...
Posted by wes19c on :
quote:Originally posted by PCola77: Wes, do you know how often penny stock companies "hint of an uplisting"? And do you know what it actually takes to uplist? You do know that they would basically have to do a r/s to have any chance, right? And how many penny stocks have you EVER seen that actually hold their price or go up after a r/s?
And before you say that "this one is the exception", keep in mind that everyone says that about their stock...
A r/s is not necessary. All of what i post is my opinion only, you are entitled to your opinion. i have done enough DD here to feel very comfortable with my investment in this company. IMO it will be held down until the 10k. Then, the 1Q report will come out around the first of May. Uplisting or not, this stock will have stellar growth 08 and the pps will reflect that imo.
Posted by BooDog on :
I like it Wes. We'll see.
Posted by wes19c on :
Big news out tonight. form 4s filed by the Chairman, CEO, and CFO!! Granted themselves options to purchase 1 mill shares each at $1.50/share. very very bullish!!
Posted by PCola77 on :
Why is that very very bullish?
Posted by renrob05 on :
quote:Originally posted by PCola77: Why is that very very bullish?
Because they don't make a penny unless the pps is above 1.50 when they exercise it. So, the higher the pps is over 1.50 the more money they make.
There are 3 of them. The CEO, CFO and VP that have this option.
Posted by wes19c on :
quote:Originally posted by PCola77: Why is that very very bullish?
Up pretty big the last 2 days. I guess you were sitting on the side lines watching this POS stock, right?
Posted by PCola77 on :
Good answer
quote:Originally posted by wes19c:
quote:Originally posted by PCola77: Why is that very very bullish?
Up pretty big the last 2 days. I guess you were sitting on the side lines watching this POS stock, right?
Posted by PCola77 on :
Right, but it didn't cost them anything. Couldn't someone like Rufus grant himself the option to buy CSHD at $10 per share? Looks good, but how does it really affect anything? That's what I was wondering.
Although I appreciate your actual answering of my question, as opposed to some others...
quote:Originally posted by renrob05:
quote:Originally posted by PCola77: Why is that very very bullish?
Because they don't make a penny unless the pps is above 1.50 when they exercise it. So, the higher the pps is over 1.50 the more money they make.
There are 3 of them. The CEO, CFO and VP that have this option.
Posted by PCola77 on :
Yikes, down 27% today to .56. What happened?
Posted by BooDog on :
quote:Originally posted by PCola77: Yikes, down 27% today to .56. What happened?
I'm watching a a new bounce again.
Posted by Stockstar69 on :
Yowza, WTF happenned! Jumped to 1.75, then down to "normal".
Fat Finger? Bad Tick? Hmmm.
Posted by renrob05 on :
quote:Originally posted by PCola77: Right, but it didn't cost them anything. Couldn't someone like Rufus grant himself the option to buy CSHD at $10 per share? Looks good, but how does it really affect anything? That's what I was wondering.
Although I appreciate your actual answering of my question, as opposed to some others...
quote:Originally posted by renrob05:
quote:Originally posted by PCola77: Why is that very very bullish?
Because they don't make a penny unless the pps is above 1.50 when they exercise it. So, the higher the pps is over 1.50 the more money they make.
There are 3 of them. The CEO, CFO and VP that have this option.
Are you freaking serious?
Posted by PCola77 on :
yes I'm serious. What cost or obligation is theer to offer options at more than double the current price?
quote:Originally posted by renrob05:
quote:Originally posted by PCola77: Right, but it didn't cost them anything. Couldn't someone like Rufus grant himself the option to buy CSHD at $10 per share? Looks good, but how does it really affect anything? That's what I was wondering.
Although I appreciate your actual answering of my question, as opposed to some others...
quote:Originally posted by renrob05:
quote:Originally posted by PCola77: Why is that very very bullish?
Because they don't make a penny unless the pps is above 1.50 when they exercise it. So, the higher the pps is over 1.50 the more money they make.
There are 3 of them. The CEO, CFO and VP that have this option.
Are you freaking serious?
Posted by Stockstar69 on :
NEWS OUT!
March 24, 2008 - 1:06 PM EDT
DPDW 0.71 0.09
Deep Down Announces Conversion of Series D Preferred Stock HOUSTON, March 24 /PRNewswire-FirstCall/ -- Deep Down, Inc. (OTC Bulletin Board: DPDW) announced today that it has converted all 5,000 shares of Series D Convertible Preferred Stock outstanding and held by Ronald E. Smith, President and CEO and Mary L. Budrunas, VP, into 25,866,529 shares of common stock of Deep Down. The Series D Convertible Preferred Stock was convertible at $0.1933 per share. The Holders of Series D Convertible Preferred Stock also had the option, beginning April 29, 2008, to force the Company to use up to 15.625% of the prior year's audited net income to redeem shares of Series D Preferred Stock held by them at $1,000 per share.
'Ron Smith and Mary Budrunas are once again signaling their confidence in the future operations of Deep Down by giving up their preference rights embedded in the preferred securities. We enthusiastically welcome this conversion, which continues the Company's efforts to simplify and strengthen its balance sheet. This conversion eliminates the potential redemption obligation and increases the equity on our balance sheet,' said Robert E. Chamberlain, Jr., Chairman and Chief Acquisition Officer.
About Deep Down, Inc.
Deep Down specializes in the provision of innovative solutions, installation management, engineering services, support services, custom fabrication and storage management services for the offshore subsea control, umbilical, and pipeline industries. The company fabricates component parts of subsea distribution systems and assemblies that specialize in the development of subsea fields and tie backs. These items include umbilicals, flow lines, distribution systems, pipeline terminations, controls, winches, and launch and retrieval systems, among others. Deep Down provides these services from the initial field conception phase, through manufacturing, site integration testing, installation, topside connections, and the final commissioning of a project.
The Company's ElectroWave subsidiary offers products and services in the fields of electronic monitoring and control systems for the energy, military, and commercial business sectors. ElectroWave designs, manufactures, installs, and commissions integrated PLC and SCADA based instrumentation and control systems, including ballast control and monitoring, drilling instrumentation, vessel management systems, marine advisory systems, machinery plant control and monitoring systems, and closed circuit television systems.
The Company's Mako subsidiary serves the growing offshore petroleum and marine industries with technical support services, and products vital to offshore petroleum production, through rentals of its remotely operated vehicles (ROV), topside and subsea equipment, and diving support systems used in diving operations, maintenance and repair operations, offshore construction, and environmental/marine surveys.
The Company's strategy is to consolidate service providers to the offshore industry, as well as designers and manufacturers of subsea, surface, and offshore rig equipment used by major, independent, and foreign national oil and gas companies in deep-water exploration and production of oil and gas throughout the world. Deep Down's customers include BP Petroleum, Royal Dutch Shell, Exxon Mobil Corporation, Devon Energy Corporation, Chevron Corporation, Anadarko Petroleum Corporation, Marathon Oil Corporation, Kerr-McGee Corporation, Nexen Inc., BHP, Amerada Hess, Helix, Oceaneering International, Inc., Subsea 7, Inc., Transocean Offshore, Diamond Offshore, Marinette Marine Corporation, Acergy, Veolia Environmental Services, Noble Energy Inc., Aker Kvaerner, Cameron, Oil States, Dril-Quip, Inc., Nexans, Cabett, JDR, and Duco, among others. For further company information, please visit http://www.deepdowninc.com and http://www.electrowaveusa.com
Company information distributed through the Market Access Program is based upon information that Standard & Poor's considers to be reliable, but neither Standard & Poor's nor its affiliates warrant its completeness or accuracy, and it should not be relied upon as such. This material is not intended as an offer or solicitation for the purchase or sale of any security or other financial instrument.
One of our most important responsibilities is to communicate with shareholders in an open and direct manner. Comments are based on current management expectations, and are considered 'forward-looking statements,' generally preceded by words such as 'plans,' 'expects,' 'believes,' 'anticipates,' or 'intends.' We cannot promise future returns. Our statements reflect our best judgment at the time they are issued, and we disclaim any obligation to update or alter forward-looking statements as the result of new information or future events. Deep Down urges investors to review the risks and uncertainties contained within its filings with the Securities and Exchange Commission.
SOURCE Deep Down, Inc.
Source: PR Newswire (March 24, 2008 - 1:06 PM EDT)
Posted by PCola77 on :
I know it's going to seem like I'm singling out this stock, but I'm really jut reacting to what I read. My question is this: if they had the option to get $50million($1000 x 5000 shares) and instead took like $17 million worth of stock, doesn't something seem wrong with that? If they really wanted 25mil shares, why not take the 50 mil dollars and take the chance that they could get 25million shares for an average of under $2 per share on the open market? Something just seems wrong here.
Posted by Stockstar69 on :
Someone on another board just reported an empty SEMI just rolled in. KaChing!
Posted by PCola77 on :
Stockstar, you are one wacky dude. Posted by Stockstar69 on :
quote:Originally posted by PCola77: Stockstar, you are one wacky dude.
Blame it on Rufus! Posted by Stockstar69 on :
quote:Originally posted by Stockstar69: Someone on another board just reported an empty SEMI just rolled in. KaChing!
They just pr'd $1.5 million in orders shipped.
That semi must have rolled out. LOL
Whatever it takes to make this little company fly. BOOHYAAH! Posted by Stockstar69 on :
120% increase in Revenue ???
April 1, 2008 - 8:54 AM EDT
DPDW 0.715 0.025
Deep Down Announces 120% Increase in Revenue HOUSTON, April 1, 2008 /PRNewswire-FirstCall/ -- Deep Down, Inc., a Nevada corporation (OTC Bulletin Board: DPDW), today announced it has filed its Form 10-KSB for the period ending December 31, 2007, with the Securities and Exchange Commission. Under purchase accounting rules, the financial results of operations for 2006 include the operations of Deep Down only for the period beginning November 21, 2006 and ending December 31, 2006, the period after which its Deep Down (Delaware) subsidiary was acquired. During this period in 2006, Deep Down reported revenues of $978,047. In order to present a more complete view of full-year operations for Deep Down during 2006 and to present more meaningful comparable results, management also presented unaudited pro forma consolidated results of operations for 2006 as if the acquisition of Deep Down had occurred on January 1, 2006. The discussion below compares audited financial information for the fiscal year ended December 31, 2007 with unaudited pro forma financial information for the year ended December 31, 2006.
Revenue for the year ended December 31, 2007, was $19,389,730, an increase of $10,568,581 or 119.8%, compared to revenue of $8,821,149 for the comparable period in 2006. Gross profit for 2007 was $6,369,361, an increase of $2,703,611 or 73.8%, compared to gross profit of $3,665,750 for 2006. Gross profit dropped from 41.6% to 32.8%, primarily as the result of increased expenses associated with the development of new products during the year. Management expects margins to improve with wider acceptance of these recent product introductions. Operating income for 2007 was $1,657,844 for 2007, an increase of $3,868,886 compared to a loss of $2,211,042 for the comparable period in 2006. Net income for 2007 was $952,509, an increase of $3,764,136 compared to a loss of $2,811,627 for the comparable period in 2006.
Deep Down uses EBITDA as an unaudited supplemental financial measure to assess the financial performance of its assets without regard to financing methods, capital structure, taxes or historical cost basis. The Company defines EBITDA as net income plus interest expense, income taxes, depreciation, amortization and other non-cash, non-operating expense. The term EBITDA is not defined under generally accepted accounting principles, and EBITDA is not presented as an alternative measure of operating results or cash flow from operations. EBITDA does not give effect to cash used for debt service requirements, and thus, does not reflect funds available for investment, distributions or other discretionary uses. When assessing Deep Down's operating performance or liquidity, investors and others should not consider this data in isolation or as a substitute for net income, cash flow from operating activities, or other cash flow data calculated in accordance with generally accepted accounting principles. However, Deep Down also understands that such data are used by some investors, equity analysts, and others to make informed investment decisions. EBITDA is used as an analytical indicator of income generated to service debt and fund capital expenditures. In addition, multiples of current or projected EBITDA are used to estimate current or projected enterprise value. EBITDA for 2007 was $2,272,202, up 43.0% compared to $1,296,218 for 2006.
'Our management team is extremely proud of our first full year's results of operations as a public company. The income statement is primarily reflective of growth in our core operations and includes only one month of financial results for our most recent acquisition, Mako Technologies. We expect the full impact of this acquisition to manifest itself in future periods,' commented Robert E. Chamberlain, Jr., Deep Down's Chairman and Chief Acquisitions Officer. 'We are committed to the continued fulfillment of our strategic acquisition objectives to position Deep Down as a preferred provider of services and products in support of deepwater exploration, development and production of oil and gas, and other maritime operations,' Chamberlain added.
'Our significant revenue growth is reflective of Deep Down's commitment to offer innovative services, products, and solutions to support major oil and gas operators, installation contractors, and umbilical and control suppliers in their continual effort to enhance the progression and completion of major offshore oil and gas exploration and production projects. Our goal is to deliver innovative solutions to our customers quicker, more cost-effectively, and more safely. We are also focused on protecting our innovations more effectively as we venture into the uncharted frontier of deeper water,' commented Ronald E. Smith, Deep Down's President and Chief Executive Officer.
'We are particularly proud of the balance sheet improvements experienced during 2007. We have simplified the capital structure by redeeming for cash or exchanging for common stock various series of preferred stock. Deep Down experienced significant balance sheet improvements over the period with an increase in shareholders' equity of $15.9 million. This dramatic increase does not reflect the recent conversion of the Series D Preferred Stock or the final payment for the Mako acquisition. We believe our liquidity to be healthy as well. Compared to the prior period, our accounts receivable have increased by $5.9 million to $7.2 million. Our accounts payable have only increased by $2.8 million to $3.6 million. We will continue to focus on simplifying the capital structure, reducing capital costs, and positioning the company to finance future acquisitions,' said Eugene L. Butler, Deep Down's Chief Financial Officer.
About Deep Down, Inc.
Deep Down specializes in the provision of innovative solutions, installation management, engineering services, support services, custom fabrication and storage management services for the offshore subsea control, umbilical, and pipeline industries. The company fabricates component parts of subsea distribution systems and assemblies that specialize in the development of subsea fields and tie backs. These items include umbilicals, flow lines, distribution systems, pipeline terminations, controls, winches, and launch and retrieval systems, among others. Deep Down provides these services from the initial field conception phase, through manufacturing, site integration testing, installation, topside connections, and the final commissioning of a project.
The Company's ElectroWave subsidiary offers products and services in the fields of electronic monitoring and control systems for the energy, military, and commercial business sectors. ElectroWave designs, manufactures, installs, and commissions integrated PLC and SCADA based instrumentation and control systems, including ballast control and monitoring, drilling instrumentation, vessel management systems, marine advisory systems, machinery plant control and monitoring systems, and closed circuit television systems.
The Company's Mako subsidiary serves the growing offshore petroleum and marine industries with technical support services, and products vital to offshore petroleum production, through rentals of its remotely operated vehicles (ROV), topside and subsea equipment, and diving support systems used in diving operations, maintenance and repair operations, offshore construction, and environmental/marine surveys.
The Company's strategy is to consolidate service providers to the offshore industry, as well as designers and manufacturers of subsea, surface, and offshore rig equipment used by major, independent, and foreign national oil and gas companies in deep-water exploration and production of oil and gas throughout the world. Deep Down's customers include BP Petroleum, Royal Dutch Shell, Exxon Mobil Corporation, Devon Energy Corporation, Chevron Corporation, Anadarko Petroleum Corporation, Marathon Oil Corporation, Kerr-McGee Corporation, Nexen Inc., BHP, Amerada Hess, Helix, Oceaneering International, Inc., Subsea 7, Inc., Transocean Offshore, Diamond Offshore, Marinette Marine Corporation, Acergy, Veolia Environmental Services, Noble Energy Inc., Aker Kvaerner, Cameron, Oil States, Dril-Quip, Inc., Nexans, Cabett, JDR, and Duco, among others. For further company information, please visit http://www.deepdowninc.com,http://www.electrowaveusa.com and http://www.makotechnologies.com.
One of our most important responsibilities is to communicate with shareholders in an open and direct manner. Comments are based on current management expectations, and are considered 'forward-looking statements,' generally preceded by words such as 'plans,' 'expects,' 'believes,' 'anticipates,' or 'intends.' We cannot promise future returns. Our statements reflect our best judgment at the time they are issued, and we disclaim any obligation to update or alter forward-looking statements as the result of new information or future events. Deep Down urges investors to review the risks and uncertainties contained within its filings with the Securities and Exchange Commission.
Deep Down, Inc. Consolidated Statements of Operations For the Year Ended December 31, 2007 and For the Period Since Inception (June 29, 2006) to December 31, 2006
Historical Results Unaudited Pro forma Year Ended Year Ended December 31, 2007 December 31, 2006
Operating expenses: Selling, general & administrative (1) 4,284,553 5,710,324 Depreciation 426,964 166,468 Total operating expenses 4,711,517 5,876,792
Operating income 1,657,844 (2,211,042)
Other income (expense): Gain on disposal of assets - - Gain on debt extinguishment 2,000,000 - Interest income 94,487 - Interest expense (2) (2,430,149) (578,335)
Total other income (335,662) (578,335)
Income from continuing operations 1,322,182 (2,789,377)
Income tax expense (369,673) (22,250) Net income (loss) $952,509 $(2,811,627)
Basic earnings per share $0.01 $(0.04) Shares used in computing basic per share amounts 73,917,190 75,862,484
Diluted earnings per share $0.01 $(0.04) Shares used in computing diluted per share amounts 104,349,455 75,862,484
(1) Includes $3.3 million compensation expense from the issuance of Series F and G preferred shares. (2) Includes approximately $423,258 additional interest expense from the accretion of the Series E preferred shares.
Calculation of EBITDA
2007 Pro Forma 2006 Change %
Net income (loss) $952,509 $ (2,811,627) $3,764,136 395.20% Tax expense 369,673 22,250 347,423 94.00% Gain on debt extinguishment (2,000,000) - (2,000,000) 100.00% Interest 2,335,662 578,335 1,757,327 75.20% Other income (expense) - - - NMF Depreciation and amortization expense 426,964 166,468 260,496 61.00% Stock based compensation expense 187,394 3,340,792 (3,153,398) NMF
EBITDA $2,272,202 $1,296,218 $975,984 43.00%
Deep Down, Inc. Statements of Stockholders' Equity For the Year Ended December 31, 2007 and For the Period Since Inception (June 29, 2006) to December 31, 2006
December 31, December 31, 2007 2006 Assets Cash and equivalents $2,206,220 $ 12,462 Restricted cash 375,000 - Accounts receivable, net of allowance of $139,787 and $81,809 7,190,466 1,264,228 Prepaid expenses and other current assets 312,058 156,975 Inventory 502,253 - Lease receivable, short term 414,000 - Work in progress 945,612 916,485 Receivable from Prospect, net 2,687,333 - Total current assets 14,632,942 2,350,150 Property and equipment, net 5,172,804 845,200 Other assets, net of accumulated amortization of $54,560 and $0 1,109,152 - Lease receivable, long term 173,000 - Intangibles, net 4,369,647 - Goodwill 10,594,144 6,934,213 Total assets $36,051,689 $10,129,563
Liabilities and Stockholders' Equity (Deficit) Accounts payable and accrued liabilities $3,569,826 $816,490 Deferred revenue 188,030 190,000 Payable to Mako Shareholders 3,205,667 - Current portion of long-term debt 995,177 410,731 Total current liabilities 7,958,700 1,417,221 Long-term debt, net of accumulated discount of $1,703,258 and $0 10,698,818 757,617 Series E redeemable exchangeable preferred stock, face value and liquidation preference of $1,000 per share, no dividend preference, authorized 10,000,000 aggregate shares of all series of Preferred stock 500 and 5,000 issued and outstanding, respectively 386,411 3,486,376 Series G redeemable exchangeable preferred stock, face value and liquidation preference of $1,000 per share, no dividend preference, authorized 10,000,000 aggregate shares of all series of Preferred stock 0 and 1,000 issued and outstanding, respectively - 697,275 Total liabilities 19,043,929 6,358,489
Temporary equity: Series D redeemable convertible preferred stock, $0.01 par value, face value and liquidation preference of $1,000 per share, no dividend preference, authorized 10,000,000 aggregate shares of all series of Preferred stock 5,000 issued and outstanding 4,419,244 4,419,244 Series F redeemable convertible preferred stock, $0.01 par value, face value and liquidation preference of $1,000 per share, no dividend preference, authorized 10,000,000 aggregate of all series of Preferred stock 0 and 3,000 issued and outstanding, respectively - 2,651,547 Total temporary equity 4,419,244 7,070,791 Stockholders' equity (deficit): Series C convertible preferred stock, $0.001 par value, 7% cumulative dividend, authorized 10,000,000 aggregate shares of all series of Preferred stock 0 and 22,000 shares issued and outstanding, respectively - 22 Common stock, $0.001 par value, 490,000,000 shares authorized, 85,976,526 and 82,870,171 shares issued and outstanding, respectively 85,977 82,870
Paid in capital 14,849,847 82,792
Accumulated deficit 2,347,308 3,299,817
Total stockholders' equity (deficit) 12,588,516 3,299,717
Total liabilities and stockholders' equity $36,051,689 $10,129,563
Moving good today. What's up?
Posted by utvolsfan13 on :
Will effectively DOUBLE the size of the company...
Deep Down to Acquire Flotation Technologies Thursday April 17, 2:01 pm ET
HOUSTON, April 17 /PRNewswire-FirstCall/ -- Deep Down, Inc. (OTC Bulletin Board: DPDW - News) today announced it has executed a Stock Purchase Agreement to purchase all of the outstanding capital stock of Flotation Technologies, Inc. ADVERTISEMENT
Headquartered in Biddeford, Maine, Flotation Technologies is a recognized leader in the design and manufacture of deepwater buoyancy systems, specializing in Flotec(TM) syntactic foam and polyurethane elastomer products. With extensive engineering, design, fabrication, and analysis capabilities, Flotation Technologies provides quick turnaround, cost-effective buoyancy and elastomer products to the worldwide oceanographic, offshore energy, seismic, and military markets. Within the past few years, Flotation Technologies has received its approved vendor status for the supply of engineered products such as distributed buoyancy, installation buoyancy and bend limiting products from numerous customers including Aker Kvaerner, Cooper Cameron, Chevron, Devon Energy, Exxon Mobil, Oceaneering Multiflex, Petrobras, Shell, Statoil, Technip, and Wellstream International. More information can be obtained at http://www.flotec.com.
Unaudited financial information provided by the management of Flotation Technologies indicates that revenue for the latest twelve months ending March 31, 2008, was approximately $17.27 million, with pretax income of $4.84 million, and EBITDA of $5.26 million, adjusted for certain nonrecurring expenses and a gain on sale of real estate assets. Financial results of operations for the years ended December 31, 2007 and 2006, will be presented when audits are finalized.
"The total purchase price for the acquisition is expected to be approximately $23.3 million. Flotation Technologies' revenue for the year ended December 31, 2007, was approximately double the revenue realized in the prior year. According to Quest Subsea Forecast (October 2007), capital expenditures in the offshore energy industry are expected to experience significant growth for the next several years. Our strategy is to participate in that growth. Buoyancy will become more important as the offshore energy industry continues its trend toward exploration and development activities in ultra deep waters. This acquisition will give Deep Down a major product line, position the Company to become a leader in flotation systems, and increase our presence in deepwater operations," commented Robert E. Chamberlain, Jr., Deep Down's chairman and chief acquisition officer.
Ronald E. Smith, Deep Down's president and chief executive officer commented, "We are very excited about this acquisition. Our strategy is to work closely with management to expand their existing business and explore new areas of opportunity. Our view of the future of subsea equipment involves structural integration of buoyancy into various components of the undersea distribution system. Due to our prominence in installation activities of subsea equipment throughout the world, our customers are increasingly asking us to supply the equipment and systems we install. Where appropriate, we intend to manufacture high-demand technology-advantaged products in high-growth markets. Our strategy is to become a major player in many facets of the offshore deepwater industry."
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.
About Deep Down, Inc.
Deep Down specializes in the provision of innovative solutions, installation management, engineering services, support services, custom fabrication and storage management services for the offshore subsea control, umbilical, and pipeline industries. The company fabricates component parts of subsea distribution systems and assemblies that specialize in the development of subsea fields and tie backs. These items include umbilicals, flow lines, distribution systems, pipeline terminations, controls, winches, and launch and retrieval systems, among others. Deep Down provides these services from the initial field conception phase, through manufacturing, site integration testing, installation, topside connections, and the final commissioning of a project.
The Company's ElectroWave subsidiary offers products and services in the fields of electronic monitoring and control systems for the energy, military, and commercial business sectors. ElectroWave designs, manufactures, installs, and commissions integrated PLC and SCADA based instrumentation and control systems, including ballast control and monitoring, drilling instrumentation, vessel management systems, marine advisory systems, machinery plant control and monitoring systems, and closed circuit television systems.
The Company's Mako subsidiary serves the growing offshore petroleum and marine industries with technical support services, and products vital to offshore petroleum production, through rentals of its remotely operated vehicles (ROV), topside and subsea equipment, and diving support systems used in diving operations, maintenance and repair operations, offshore construction, and environmental/marine surveys.
The Company's strategy is to consolidate service providers to the offshore industry, as well as designers and manufacturers of subsea, surface, and offshore rig equipment used by major, independent, and foreign national oil and gas companies in deep-water exploration and production of oil and gas throughout the world. Deep Down's customers include BP Petroleum, Royal Dutch Shell, Exxon Mobil Corporation, Devon Energy Corporation, Chevron Corporation, Anadarko Petroleum Corporation, Marathon Oil Corporation, Kerr-McGee Corporation, Nexen Inc., BHP, Amerada Hess, Helix, Oceaneering International, Inc., Subsea 7, Inc., Transocean Offshore, Diamond Offshore, Marinette Marine Corporation, Acergy, Veolia Environmental Services, Noble Energy Inc., Aker Kvaerner, Cameron, Oil States, Dril-Quip, Inc., Nexans, Cabett, JDR, and Duco, among others. For further company information, please visit http://www.deepdowninc.com,http://www.electrowaveusa.com and http://www.makotechnologies.com.
One of our most important responsibilities is to communicate with shareholders in an open and direct manner. Comments are based on current management expectations, and are considered "forward-looking statements," generally preceded by words such as "plans," "expects," "believes," "anticipates," or "intends." We cannot promise future returns. Our statements reflect our best judgment at the time they are issued, and we disclaim any obligation to update or alter forward-looking statements as the result of new information or future events. Deep Down urges investors to review the risks and uncertainties contained within its filings with the Securities and Exchange Commission.
-------------------------------------------------------------------------------- Source: Deep Down, Inc.
2 trucks pulling in and out of the yard. 1 flatbed.
If you didn't know, we have access to the cameras at Deep Down. We can see our stuff being made and shipped. COOL
Oh, almost forgot...we are going up. 1.20's now.
Posted by Stockstar69 on :
News
Deep Down Receives Second $9.0 Million Order for BuoyancyJune 5, 2008 2:20 PM ET advertisement cleDeep Down Inc (DPDW)
All PR Newswire newsHOUSTON, June 5 /PRNewswire-FirstCall/ -- Deep Down, Inc. (OTC Bulletin Board: DPDW) today announced that it has received a second letter of intent for approximately $9 million from Delba International to supply and install the deepwater marine drilling riser flotation system for the new-build Delba IV semisubmersible drilling rig. The letter of intent is subject to the negotiation of a final purchase order once engineering is completed. The Letters of Intent authorize expenditures for such engineering efforts. Together with the previously announced Letter of Intent for the Delba III, Deep Down now has orders for approximately $18 million of deepwater marine drilling riser flotation systems. Both the Delba III and the Delba IV are rated to drill in 2,400 meters of water but are readily upgradeable to 2,700 meters and have long term contracts to drill in Brazilian waters.
"A Letter of Intent is the first step in a committed process which typically becomes a purchase contract upon completion of joint engineering efforts between us and our clients," commented Ronald E. Smith, Deep Down's president and CEO.
About Deep Down, Inc.
Deep Down specializes in the provision of innovative solutions, installation management, engineering services, support services, custom fabrication and storage management services for the offshore subsea control, umbilical, and pipeline industries. The company fabricates component parts of subsea distribution systems and assemblies that specialize in the development of subsea fields and tie backs. These items include umbilicals, flow lines, distribution systems, pipeline terminations, controls, winches, and launch and retrieval systems, among others. Deep Down provides these services from the initial field conception phase, through manufacturing, site integration testing, installation, topside connections, and the final commissioning of a project.
The Company's Flotation Technologies subsidiary is a recognized leader in the design and manufacture of deepwater buoyancy systems, specializing in Flotec(TM) syntactic foam and polyurethane elastomer products. With extensive engineering, design, fabrication, and analysis capabilities, Flotation Technologies provides quick turnaround, cost-effective buoyancy and elastomer products to the worldwide oceanographic, offshore energy, seismic, and military markets.
The Company's Mako subsidiary serves the growing offshore petroleum and marine industries with technical support services, and products vital to offshore petroleum production, through rentals of its remotely operated vehicles (ROV), topside and subsea equipment, and diving support systems used in diving operations, maintenance and repair operations, offshore construction, and environmental/marine surveys.
The Company's ElectroWave subsidiary offers products and services in the fields of electronic monitoring and control systems for the energy, military, and commercial business sectors. ElectroWave designs, manufactures, installs, and commissions integrated PLC and SCADA based instrumentation and control systems, including ballast control and monitoring, drilling instrumentation, vessel management systems, marine advisory systems, machinery plant control and monitoring systems, and closed circuit television systems.
The Company's strategy is to become a leading provider of products and services to the offshore industry, including shallow, deep and ultra-deep water applications in oil and gas exploration, development and production activities and maritime operations. Management plans to achieve this strategy through organic growth and strategic acquisitions of complementary businesses with technological advantages in deepwater environments. Deep Down's customers include Acergy, Aker Kvaerner, Amerada Hess, Anadarko Petroleum Corporation, BHP, BP Petroleum, Cabett, Cooper Cameron, Chevron Corporation, Delba International, Dril-Quip, Inc., Devon Energy Corporation, Diamond Offshore, Duco, Exxon Mobil Corporation, Helix, JDR, Kerr-McGee Corporation, Marinette Marine Corporation, Marathon Oil Corporation, Nexans, Inc., Noble Energy Inc., Oceaneering International, Inc., Oil States, Petrobras, Royal Dutch Shell, Statoil, Subsea 7, Inc., Technip, Transocean Offshore, Veolia Environmental Services and Wellstream International, among others. For further company information, please visit http://www.deepdowninc.com, and http://www.flotec.com,http://www.makotechnologies.com and http://www.electrowaveusa.com. Posted by Stockstar69 on :
Completion of Acquisition or Disposition of Assets, Unregistered Sale of Equity S
ITEM 2.01 - Completion of Acquisition or Disposition of Assets. On the 5th day of June we completed the acquisition of 100% of the equity securities of Flotation Technologies, Inc., a Maine corporation, pursuant to the Stock Purchase Agreement entered into April 17, 2008.
The equity interest was acquired from the three individual shareholder members of the same family and related technology was acquired from an entity affiliated with the selling stockholders. No prior material relationship existed between the selling shareholders and Deep Down, any of our affiliates, or any of our directors or officers, or any associate of any of our officers or directors.
The total consideration paid for the equity is $22,100,000 cash, 1,714,286 shares of common stock and 600,000 incentive common stock purchase options issued to employees of Flotation Technologies with an exercise price of $1.15 per share. In addition warrants to purchase 200,000 common shares at $0.70 per share were issued to the affiliated entity for acquisition of the related technology.
Flotation Technologies engineers, designs and manufactures deepwater buoyancy systems using high-strength FlotecTM syntactic foam and polyurethane elastomers. Flotation Technologies' product offerings include distributed buoyancy for flexible pipes and umbilicals, drilling riser buoyance modules, ROV buoyancy, Quick-Loc? cable floats, Hardball umbilical floats, FLOTECT? cable and pipeline protection, Inflex polymer bend restrictors, and installation buoyancy of any size and depth rating.
Posted by Stockstar69 on :
Looks like I am the only one still here in this stock. All the good news must have chased everyone away.
Well anyway, did anyone else notice the PR part that said they are eliminating their debt? That sould get this mooooving higher.
Posted by Stockstar69 on :
And now they have put MAKO & FLOTEK on their big sign outside the building. Excellent, I love those camera's!
I am onboard...I bought in yesterday at $1.20 and it took a hit yesterday, but seems to be making up for it today...Am I too late getting into this stock? I've researched it and I like it, but I also see the steady climb it has taken since March is the run over?
Posted by Stockstar69 on :
I don't think you are to late! This will go HIGHER. One analyst, Dahlman Rose, projected a $2.50 target.
The company just announced no debt and finalized another aquisition.
This is the real deal.
Posted by Peaser on :
Anyone have the latest O/S here?
I am guessing 172 mil or so.
Anyone have a more accurate count?
Posted by greenteam13 on :
Alrite Stockstar this sounds good...thanks for the cameras link they are awesome!
Posted by Peaser on :
Hey greenteam, welcome to Allstocks...
Are you solely involved in this stock?
Does the 13 in your screen name stand for anything??
Maybe your age?
Just wanted to say hello and welcome...
Posted by bilgert on :
quote:Originally posted by Peaser:
Does the 13 in your screen name stand for anything??
Just wanted to say hello and welcome...
Stockstar- tell us what the '69' stands for- in graphic detail if possible.
Posted by greenteam13 on :
The thirteen is just my favorite number and is not my age...yes this is my sole stock that i am involved in...I jumped around a little before this one, but I am fairly new to the stock market, and i know the basic fundamentals, but I get lost when you guys start talking about volume and "MM" and all of that stuff.
Posted by T e x on :
omg...
Posted by 10of13 on :
LMAO bilgert...! Welcome aboard Greenteam13 Peaser...I am not real sure what the share structure is...I've been playing around with this from about .60 late last summer...up to 2.25 and have flipped it several times...made a little $...if you play it right...there's a little chunk to be made...just don't get to greedy with it...it goes down quciker than it goes up...
No wonder they want it to double.
Posted by tmanfromtexas on :
quote:Originally posted by Peaser: Anyone have the latest O/S here?
I am guessing 172 mil or so.
Anyone have a more accurate count?
At May 14, 2008, there were 115,846,019 shares of common stock outstanding
On June 5, 2008, Deep Down, Inc. (the “Company”) entered into a Purchase Agreement (the “Purchase Agreement”) with institutional accredited investors (the “Purchasers”) to sell and issue to the Purchasers’ in reliance on the exemption from registration in Section 4(2) of the Securities Act of 1933, as amended (the “Securities Act”), an aggregate of 57,142,857 shares, or $40,000,000 of shares, of the Company’s Common Stock (the “Shares”) at a price of $0.70 per Share, for net proceeds of approximately $37,125, 000. Completion of the private placement was subject to completion of our previously announced acquisition of Flotation Technologies described in 2.01 above. Dahlman Rose & Company, LLC acted as exclusive placement agent for the financing.
You were pretty much on the money Peaser. Just a few shares shy of 173MM, the private placement is restricted I am sure but still lots out. TMAN...
Posted by Stockstar69 on :
How many stocks are you holding man?
Posted by Stockstar69 on :
quote:Originally posted by PCola77: How many stocks are you holding man?
Funny pc, I was going to ask you the same thing. Are you following me? Am I following you?
DPDW is not one of the headbanger stocks. Posted by PCola77 on :
Do either (or I guess both) of us have multiple personalities? Maybe you *are* me...
Posted by Stockstar69 on :
quote:Originally posted by PCola77: Do either (or I guess both) of us have multiple personalities? Maybe you *are* me...
Amazing thought...no wonder we are in so many of the same POS stocks (not counting DPDW).
DPDW is the real deal. If we could get up to just a few dollars I think we could get some mutual fund activity. Lots of value here. Posted by greenteam13 on :
This thing has had a steady decline from $1.20 in the last almost month or so...what's the deal here?
Posted by Stockstar69 on :
Don't know? Everything I see makes me beleive this should be going higher. It really is a mystery to me. Just might be that not a lot of people know about this company (yet).
Posted by Stockstar69 on :
WOW, what heppenned? Looks like a fire sale today. Great chance to get more cheap!
Posted by Stockstar69 on :
Deep Down Announces 96% Increase in Revenues
HOUSTON, Aug. 20 /PRNewswire-FirstCall/ -- Deep Down, Inc. (OTC:DPDW) (BULLETIN BOARD: DPDW) announced unaudited results on August 15, 2008, for the three months and six months ended June 30, 2008, on Form 10-Q filed with the U.S. Securities and Exchange Commission.
Deep Down generated revenue of $14.2 million for the six months ended June 30, 2008 compared to $7.2 million for the same period last year, an increase of $7.0 million, or 96%. Our acquisitions accounted for $5.1 million of this increase. Mako was included for the entire period and accounted for $2.7 million of the increase. Flotation Technologies was included for two months and accounted for $1.5 million of the increase. ElectroWave was included for six months and accounted for $0.9 million of the increase, but the six month period in 2007 included only three months revenue for ElectroWave since it was acquired in April 2007. Our existing businesses continued to strengthen with increased revenues of $1.9 million, or 29%, over last year's six month period. Contract revenues were up 25%, and rentals were up 47%. Our offshore market continues to be strong as we continue to expand our customer base.
Deep Down generated revenues of $7.9 million for the three months ended June 30, 2008 compared to $5.1 million for the same period last year, an increase of $2.8 million, or 54%. Our acquisitions represented $3.0 million of the increase in revenue in addition to a slight revenue decrease in the core business of $0.2 million. This slight decrease in revenue was a result of certain customers delaying scheduled projects.
Gross margin for the six months ended June 30, 2008 was $4.8 million compared to $2.7 million in the same prior year period, an increase of $2.1 million, or 79%. $1.4 million of the increase is attributable to the inclusion of the acquisitions in this period. The overall gross margin was 34 % for the first six months of 2008 as compared to 37% for the same period last year. The gross margin is slightly lower due to an increase in personnel.
SG&A for the six months ended June 30, 2008, was $5.4 million compared to $1.8 million for the same period last year, an increase of $3.6 million, or 209%. The acquisitions of Mako and Flotation represented $1.5 million of the increase. Bad debt expense increased by $0.8 million due to the write-off of two accounts, one of which filed for bankruptcy protection during the quarter ($0.2 million of the total bad debt is included in the Mako subsidiary). Personnel and related costs increased by $1.0 million primarily due to an expansion of our businesses, combined with the related costs of administering a public company and complying with reporting requirements. Additionally, we paid approximately $0.7 million in professional, accounting, and legal fees to support our various initiatives during the six months ended June 30, 2008, including the filing of a registration statement, acquisitions and reporting requirements. Stock based compensation related to employee stock options and restricted stock was approximately $0.3 million in the current fiscal year compared to approximately $40,000 for the comparable prior year period.
Operating loss for the six months ended June 30, 2008, was $1.5 million compared to operating income of $0.8 million for the same prior year period. Net loss for the six months ended June 30, 2008, was $5.0 million compared to net income of $0.8 million for the same prior period. Income was impacted by one-time interest expense and loss on debt extinguishment expenses totaling $2.6 million related to the early payoff of our secured credit agreement (the "Credit Agreement"). Earnings before interest, taxes, depreciation, amortization and other non-cash charges ("EBITDA") for the six months ended June 30, 2008, was $0.5 million, compared to $1.0 million, a decrease of $0.5 million over the same prior year period.
Interest expense for the six months ended June 30, 2008, was $3.5 million compared to $1.5 million for the same prior year period. In connection with the early payoff of the Credit Agreement, Deep Down accelerated the remaining deferred financing costs totaling $0.7 million and recorded this charge to interest expense. Additionally, $1.5 million in debt discounts were accelerated and recorded to interest expense, along with early termination fees of approximately $0.5 million. Deep Down paid cash interest related to the Credit Agreement totaling $0.8 million for the six months ended June 30, 2008. For the comparable period last year, $1.4 million of the total interest was related to accretion on the redemption of Series G and Series E Preferred Stock.
"I am pleased to report this quarter that Deep Down continues to improve its financial position. The Company is now essentially debt free and has retired all of its remaining preferred shares. Liquidity is strong with unrestricted cash and equivalents of $4.1 million and a current ratio of 3.8. Our working capital position is $10.8 million. Stockholders' equity has improved dramatically and is now $52.9 million compared to $12.6 million on December 31, 2007. We remain excited and optimistic about the prospects for continued revenue growth and a return to profitability," commented Robert E. Chamberlain, Jr., Deep Down's Chairman.
About Deep Down, Inc.
Deep Down specializes in the provision of innovative solutions, installation management, engineering services, support services, custom fabrication and storage management services for the offshore subsea control, umbilical, and pipeline industries. The company fabricates component parts of subsea distribution systems and assemblies that specialize in the development of subsea fields and tie backs. These items include umbilicals, flow lines, distribution systems, pipeline terminations, controls, winches, and launch and retrieval systems, among others. Deep Down provides these services from the initial field conception phase, through manufacturing, site integration testing, installation, topside connections, and the final commissioning of a project.
The Company's ElectroWave subsidiary offers products and services in the fields of electronic monitoring and control systems for the energy, military, and commercial business sectors. ElectroWave designs, manufactures, installs, and commissions integrated PLC and SCADA based instrumentation and control systems, including ballast control and monitoring, drilling instrumentation, vessel management systems, marine advisory systems, machinery plant control and monitoring systems, and closed circuit television systems.
The Company's Mako subsidiary serves the growing offshore petroleum and marine industries with technical support services, and products vital to offshore petroleum production, through rentals of its remotely operated vehicles (ROV), topside and subsea equipment, and diving support systems used in diving operations, maintenance and repair operations, offshore construction, and environmental/marine surveys.
Flotation engineers, designs and manufactures deepwater buoyancy systems using high-strength Flotec(TM) syntactic foam and polyurethane elastomers. Flotation's product offerings include distributed buoyancy for flexible pipes and umbilicals, drilling riser buoyance modules, CoreTec(TM) drilling riser buoyancy modules, ROVits(TM) buoyancy, Hydro-Float mooring buoys, Stablemoor(TM) low-drag ADCP deployment solution, Quick-Loc(TM) cable floats, Hardball(TM) umbilical floats, Flotec(TM) cable and pipeline protection, Inflex(TM) polymer bend restrictors, and installation buoyancy of any size and depth rating.
The Company's strategy is to become a leading provider of products and services to the offshore industry, including shallow, deep, and ultra-deep water applications in oil and gas exploration, development and production activities, and maritime operations. Management plans to achieve this strategy through organic growth and strategic acquisitions of complementary businesses with technological advantages in deepwater environments. For further company information, please visit http://www.deepdowninc.com/,http://www.electrowaveusa.com/,http://www.makotechnologies.com/ and http://www.flotec.com/.
One of our most important responsibilities is to communicate with shareholders in an open and direct manner. Comments are based on current management expectations, and are considered "forward-looking statements," generally preceded by words such as "plans," "expects," "believes," "anticipates," or "intends." We cannot promise future returns. Our statements reflect our best judgment at the time they are issued, and we disclaim any obligation to update or alter forward-looking statements as the result of new information or future events. Deep Down urges investors to review the risks and uncertainties contained within its filings with the Securities and Exchange Commission.
DEEP DOWN, INC.
CONSOLIDATED BALANCE SHEETS (Unaudited)
June 30, December 31, 2008 2007 ASSETS Cash and equivalents $4,085,543 $2,206,220 Restricted cash - 375,000 Accounts receivable, net of allowance of $818,992 and $139,787 respectively 8,614,961 7,190,466 Prepaid expenses and other current assets 710,213 312,058 Inventory 179,343 502,253 Lease receivable, short-term 414,000 414,000 Work in progress 681,790 945,612 Receivable from Prospect, net - 2,687,333 Total current assets 14,685,850 14,632,942 Property and equipment, net 10,651,053 5,172,804 Other assets, net of accumulated amortization of $0 and $54,560 respectively 550,819 1,109,152 Lease receivable, long-term 500 173,000 Intangibles, net 18,745,713 4,369,647 Goodwill 13,001,556 10,594,144 Total assets $57,635,491 $36,051,689
LIABILITIES AND STOCKHOLDER'S EQUITY Accounts payable and accrued liabilities $3,070,105 $3,569,826 Deferred revenue 725,521 188,030 Payable to Mako shareholders - 3,205,667 Current portion of long-term debt 47,477 995,177 Total current liabilities 3,843,103 7,958,700 Long-term debt, net of accumulated discount of $0 and $1,703,258 respectively 919,381 10,698,818 Series E redeemable exchangeable preferred stock, par value $0.01, face value and liquidation preference of $1,000 per share, no dividend preference, authorized 10,000,000 aggregate shares of all series of preferred stock, - 0 - and 500 issued and outstanding, respectively - 386,411 Total liabilities 4,762,484 19,043,929 Temporary equity: Series D redeemable convertible preferred stock, $0.01 par value, face value and liquidation preference of $1,000 per share, no dividend preference, authorized 10,000,000 aggregate shares of all series of preferred stock, - 0 - and 5,000 issued and outstanding, respectively - 4,419,244 Total temporary equity - 4,419,244 Stockholders' equity: Common stock, $0.001 par value, 490,000,000 shares authorized, 174,732,501 and 85,976,526 shares issued and outstanding, respectively 174,733 85,977 Paid-in capital 60,000,402 14,849,847 Accumulated deficit (7,302,128) (2,347,308) Total stockholders' equity 52,873,007 12,588,516 Total liabilities and stockholders' equity $57,635,491 $36,051,689
DEEP DOWN, INC.
Posted by BooDog on :
LOOKING STRONG TODAY
Posted by Stockstar69 on :
Flotation Technologies Named The 27th Fastest Growing Manufacturing Company In The U.S. Monday 09/15/2008 11:03 AM ET - Businesswire
Related Companies Symbol Last %Chg DPDW 0.57 -8.06%
As of 2:30 PM ET 9/15/08 Flotation Technologies, Inc., a Deep Down Inc. company (OTCBB: DPDW) and a world leader in the engineering, design and manufacturing of deepwater buoyancy and polyurethane elastomer products, today announced the company has been named the 27th fastest growing, privately owned manufacturing company in the United States by Inc. magazine. Overall, Flotation Technologies ranked No. 1,006 on the prestigious Inc. 5000 list. These rankings recognize the substantial growth the company has experienced over the past three years, including the doubling of its revenue from 2006 to 2007.
"Being recognized by Inc. magazine for our growth is an honor shared by the management and employees of Flotation Technologies and speaks to our drive and the dedication to the customers and markets we serve," stated David Capotosto, president, Flotation Technologies. "This abiding commitment, fully supported by our new parent company, Deep Down, has and will continue to fuel Flotation Technologies' aggressive growth."
"The growth Flotation Technologies has experienced since 2004 is unparalleled," stated Robert Chamberlain, Jr., chairman and director, Deep Down, Inc. "It is this growth coupled with Flotation Technologies' expertise in the engineering, design and manufacture of subsea products that drew Deep Down to acquire the company in June of 2008. We are extremely proud of Flotation Technologies for receiving this prominent recognition and look forward to the tremendous future of the company."
The Inc. list is a comprehensive look at the most important segment of the economy--America's independent-minded entrepreneurs. Taken as a whole, these companies represent the backbone of the U.S. economy. The 5,000 companies that made the list reported aggregate revenue of $185 billion and median three-year growth of 147 percent. More important, the 2008 Inc. 5000 companies were engines of job growth, having created more than 826,033 jobs since these companies were founded. The 2008 Inc. 5000 list measures revenue growth from 2004 through 2007. Flotation Technologies' revenue in 2004 was $2,873,686 and $13,410,002 in 2007. To qualify, companies must be U.S.-based and privately held, independent--not subsidiaries or divisions of other companies--as of December 31, 2007, and have had at least $200,000 in revenue in 2004, and $2 million in 2007.
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Each year, Inc. magazine and Inc.com celebrate the remarkable achievements of today's entrepreneurial superstars -- the privately held small businesses that drive our economy. The Inc. 500|Inc. 5000 Conference brings together members of the Inc. 5000 community--both a new class of Inc. 5000 honorees and the list's alumni--for three days of powerful networking, inspired learning, and momentous celebration. For the first time ever, this powerful networking event is open to all. Please join us September 18-20, 2008 at the Gaylord National Resort and Convention Center in Washington, D.C. For more information or to register, visit Inc5000Conference.com or call 877-211-0489.
About Flotation Technologies, Inc.
Flotation Technologies, Inc., based in Biddeford, Maine, and a wholly-owned subsidiary of Deep Down Inc., (OTCBB: DPDW), is a world leader in the engineering, design and manufacturing of deepwater buoyancy systems using high-strength Flotec(TM) syntactic foams and polyurethane elastomers. Focused on the offshore oil, oceanographic, seismic and government markets, Flotation Technologies delivers world-class buoyancy products for a host of marine applications such as: distributed buoyancy for flexible pipes and umbilicals, drilling riser buoyancy modules, ROV buoyancy, QuickLoc(TM) cable floats, Hardball(TM) umbilical floats, FLOTECT(TM) cable and pipeline protection, Inflex(TM) polymer bend restrictors and installation buoyancy of any size and depth rating. For more information, visit flotec.com.
About Deep Down, Inc.
Deep Down specializes in the provision of innovative solutions, installation management, engineering services, support services, custom fabrication and storage management services for the offshore subsea control, umbilical, and pipeline industries. The company fabricates component parts of subsea distribution systems and assemblies that specialize in the development of subsea fields and tie backs. These items include umbilicals, flow lines, distribution systems, pipeline terminations, controls, winches, and launch and retrieval systems, among others. Deep Down provides these services from the initial field conception phase, through manufacturing, site integration testing, installation, topside connections, and the final commissioning of a project.
The Company's ElectroWave subsidiary offers products and services in the fields of electronic monitoring and control systems for the energy, military, and commercial business sectors. ElectroWave designs, manufactures, installs, and commissions integrated PLC and SCADA based instrumentation and control systems, including ballast control and monitoring, drilling instrumentation, vessel management systems, marine advisory systems, machinery plant control and monitoring systems, and closed circuit television systems.
The Company's Mako subsidiary serves the growing offshore petroleum and marine industries with technical support services, and products vital to offshore petroleum production, through rentals of its remotely operated vehicles (ROV), topside and subsea equipment, and diving support systems used in diving operations, maintenance and repair operations, offshore construction, and environmental/marine surveys. For more information, visit deepdowninc.com, electrowaveusa.com and makotechnologies.com.
Forward Looking Statements
This press release contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, included in this press release regarding our strategy, future operations, future financial position, future revenues, acquisitions, projected costs, prospects, plans and objectives of management are forward-looking statements. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements and you should not place undue reliance on our forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements we make. All of the information provided in this release is as of September 15, 2008 and Flotation Technologies, Inc. undertakes no duty to update the information provided herein.
SOURCE: Flotation Technologies, Inc.
McClain Marketing Group Kristen Jensen Phone: 207-761-8372 ext: 209 E-Mail: kjensen*mcclainmarketing.com
Posted by Stockstar69 on :
Fastest growing company's per Google search? Flotation (owned by DPDW)
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