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.
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!?
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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!!
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posted
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...
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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.
-------------------- All posts are my opinion only!! Do your own DD!!
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posted
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!!
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posted
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.
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.
posted
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.
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.
posted
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.
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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
posted
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.
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