secwatch.observer — SEC 8-K summary
======================================

Issuer:     Koil Energy Solutions, Inc. (KLNG)
CIK:        0001110607
Form:       8-K
Filed at:   2022-08-08T23:59:59+00:00
Accession:  0001683168-22-005426
Event type: earnings
Sentiment:  neutral
Materiality: 0.55
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Deep Down Q2 revenue down 23% to $3.5M; net income $0.2M, EPS $0.01
-------------------------------------------------------------------

- Revenue $3.5M, down 23% YoY from $4.5M; net income $0.2M ($0.01 diluted) vs $0.7M ($0.06) prior year.
- Gross profit margin improved to 42% from 31% due to lower materials costs.
- Modified EBITDA positive $0.2M compared to negative $0.1M in Q2 2021.
- Repurchased 147,059 shares at average $0.68 in June 2022.
- Rebranding to Koil Energy Solutions pending FINRA approval; expanding into military and hydrogen energy.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1110607/000168316822005426/0001683168-22-005426-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1110607/000168316822005426/deepdown_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-22-005426

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer