posted
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
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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
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.
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.
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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.
posted
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.
posted
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
-------------------- Nashoba Holba Chepulechi Adventures in microcapitalism...
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posted
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.
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posted
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...
-------------------- Nashoba Holba Chepulechi Adventures in microcapitalism...
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posted
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..
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posted
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
-------------------- Nashoba Holba Chepulechi Adventures in microcapitalism...
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posted
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.
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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.
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