posted
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!)...
-------------------- #1 Rule: Protect your capital! #2 Rule: Never fall for the BS on the boards! Posts: 8880 | Registered: Jan 2006
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posted
Released some more at 1.32. I'm thinking next release will be low 1.50's. We'll see
Posts: 2329 | From: MD | Registered: Jul 2005
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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.
-------------------- #1 Rule: Protect your capital! #2 Rule: Never fall for the BS on the boards! Posts: 8880 | Registered: Jan 2006
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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.
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posted
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
-------------------- #1 Rule: Protect your capital! #2 Rule: Never fall for the BS on the boards! Posts: 8880 | Registered: Jan 2006
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posted
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!
-------------------- #1 Rule: Protect your capital! #2 Rule: Never fall for the BS on the boards! Posts: 8880 | Registered: Jan 2006
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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
-------------------- DPDW Posts: 114 | From: fruit city | Registered: Aug 2007
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Still holding a nice position. I really have no idea where this is going, but it's a fun ride for sure.
Posts: 2329 | From: MD | Registered: Jul 2005
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posted
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...
-------------------- #1 Rule: Protect your capital! #2 Rule: Never fall for the BS on the boards! Posts: 8880 | Registered: Jan 2006
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