Boots and Coots International Well Control Inc. (WEL) Message Board

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Gold/Mining/Energy : Boots and Coots International Well Control Inc. (WEL)

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To: who cares? who wrote (187)	3/31/2003 5:25:42 PM
From: Sir Auric Goldfinger	Read Replies (1) of 214

WEL 10k just hit the tape. Even after Checkpoint, payback the Co is still a "Going Concern" Subsequent to December 31, 2002, there has been a significant increase in the demand for the Company's emergency response services, particularly internationally and specifically in the Middle East in connection with the war in Iraq. The Company currently has several employees either on standby or actively working to control wells in Iraq, and in some cases it is realizing a premium to its typical day rates for similar activities. While these developments have positively impacted the Company's near-term liquidity there can be no assurance that the cash flows generated from such activities will be sufficient to meet the Company's near-term liquidity needs. In addition, while the Company has recently been able to pay its critical vendors for current services and materials, there remains significant overdue payables which the Company has been unable to satisfy"

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