secwatch.observer — SEC 8-K summary
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Issuer:     Koil Energy Solutions, Inc. (KLNG)
CIK:        0001110607
Form:       8-K
Filed at:   2022-11-14T23:59:59+00:00
Accession:  0001683168-22-007722
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Deep Down reports Q3 net loss of $1.6M, revenue down 36% YoY to $2.3M
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- Revenue $2.3M (-36% YoY); gross profit $0.3M (12% margin vs 24%).
- Net loss of $1.6M ($0.13/diluted share) vs net profit of $0.3M ($0.03/share) in Q3 2021.
- Modified EBITDA negative $1.0M vs negative $0.4M in prior year.
- Rebranding to Koil Energy Solutions underway; awaiting FINRA approval for new name and ticker.
- Cash $3.5M, working capital $4.5M, shareholders' equity $8.4M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1110607/000168316822007722/0001683168-22-007722-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1110607/000168316822007722/deepdown_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-22-007722

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