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KLNG on OTC

Koil Energy Solutions, Inc.

Koil Energy Solutions, Inc. is an American oil and gas field machinery and equipment company based in Houston.1 Its shares trade on OTC under the symbol KLNG.1

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Last updated Oct 21, 2026.

Overview

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  • TickerKLNG on OTC1
  • IndustryOil & Gas Field Machinery & Equipment1
  • HeadquartersHouston, Texas1
  • Incorporated inNV2
  • Business address1310 Rankin Road, Houston, Tx 770732
  • Filer categoryNon-accelerated filer, Smaller reporting company2

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Economic uncertainty and financial market conditions may impact our customer base, suppliers, and backlog;3 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-1.5%Operating margin4
-0.2%Net margin4
5.8%Revenue growth, 20254
-0.4%Return on equity4
-$2.2MFree cash flow4

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue66¢$16.1M
  • Selling, general and admin34¢$8.3M
  • Income tax0¢$73.0K

Out of $24.1M in revenue.4 The company lost money this year.

Financial statements

Revenue567894$24.1M in 2025+27% since 2019
0$10.0M$20.0M$30.0M2019: $18.9M$18.9M20192020: $13.0M$13.0M2020−31%2021: $17.2M$17.2M2021+33%2022: $13.0M$13.0M2022−25%2023: $15.3M$15.3M2023+18%2024: $22.7M$22.7M2024+48%2025: $24.1M$24.1M2025+6%
Gross profit567$4.7M in 2022−31% since 2019
0$2.0M$4.0M$6.0M$8.0M2019: $6.8M$6.8M20192020: $4.9M$4.9M2020−28%2021: $5.8M$5.8M2021+19%2022: $4.7M$4.7M2022−20%
Operating income567894-$369.0K in 2025−87% since 2019
-$7.5M-$5.0M-$2.5M0$2.5M$5.0M2019: -$2.8M-$2.8M20192020: -$6.0M-$6.0M2020+116%2021: -$343.0K-$343.0K2021−94%2022: -$3.0M-$3.0M2022+777%2023: -$1.6M-$1.6M2023−46%2024: $2.6M$2.6M20242025: -$369.0K-$369.0K2025
Net income567894-$38.0K in 2025−99% since 2019
-$7.5M-$5.0M-$2.5M0$2.5M$5.0M2019: -$2.8M-$2.8M20192020: -$6.1M-$6.1M2020+118%2021: $2.3M$2.3M20212022: -$2.9M-$2.9M20222023: -$1.6M-$1.6M2023−47%2024: $2.6M$2.6M20242025: -$38.0K-$38.0K2025

Every line of the income statement as filed: the last 2 fiscal years, latest first.4

Period ending2025-12-312024-12-31
Revenues$24.1M$22.7M
Cost of sales$16.1M$14.0M
Selling, general and administrative$8.3M$6.2M
Total costs and expenses$24.4M$20.2M
Operating (loss) income-$369.0K$2.6M
Interest income, net$6.0K$47.0K
Other income, net$386.0K$33.0K
Gain (loss) on sale of property, plant and equipment$12.0K-$1.0K
Total other income (expense)$404.0K$79.0K
Income before income tax expense$35.0K$2.6M
Provision for income tax-$73.0K-$16.0K
Net (loss) income-$38.0K$2.6M
Basic$0.00$0.21
Fully diluted$0.00$0.21
Basic12.1K shares12.2K shares
Fully diluted12.1K shares12.3K shares

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Corporate structure

Koil Energy Solutions, Inc. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Koil Energy Solutions, Inc.

  • Intelligent Fanatics Capital Management LLC Filed SCHEDULE 13G/A on Koil Energy Solutions, Inc., latest Jan 9, 2026 (4 filings since Apr 2, 2025)
  • MAZ Partners LP Filed SCHEDULE 13D/A on Koil Energy Solutions, Inc., latest Dec 3, 2025 (4 filings since Feb 8, 2022)
  • Ronald Eric Smith Filed SCHEDULE 13D/A on Koil Energy Solutions, Inc., latest Dec 3, 2025 (2 filings since Jul 9, 2025)
  • Neal I. Goldman Filed SC 13D on Koil Energy Solutions, Inc., latest Oct 15, 2024
  • Galloway Capital Partners, LLC Filed SC 13D on Koil Energy Solutions, Inc., latest Mar 6, 2024 (2 filings since Nov 27, 2023)
  • AEGIS FINANCIAL CORP Filed SC 13G/A on Koil Energy Solutions, Inc., latest Feb 8, 2024 (2 filings since Feb 10, 2023)
  • David J. Douglas Filed SC 13D/A on Koil Energy Solutions, Inc., latest Sep 2, 2022
  • Koil Energy Solutions, Inc. Houston, Texas

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Koil Energy Solutions, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$9.6M4 Dec 31, 2025$8.4M4 Dec 31, 2024+14.2%
Accumulated depreciation$5.9M4 Dec 31, 2025$5.6M4 Dec 31, 2024+6.1%
Property and equipment, net$3.6M4 Dec 31, 2025$2.8M4 Dec 31, 2024+30.5%
Finance-lease assets$53.0K4 Dec 31, 2025$29.0K4 Dec 31, 2024+82.8%
Operating-lease assets (leased space)$5.8M4 Dec 31, 2025$5.4M4 Dec 31, 2024+7.2%

Intangibles and goodwill

ItemLatestA year beforeChange
Intangible assets, net (excluding goodwill)$306.0K4 Dec 31, 2025$64.0K4 Dec 31, 2024+378.1%

Inventory

ItemLatestA year beforeChange
Inventory, total$354.0K4 Dec 31, 2025$404.0K4 Dec 31, 2024−12.4%

Properties, in its own words

Our operating facility is located at 1310 Rankin Road, Houston, Texas 77073 (“Rankin Rd.”) and includes approximately 101,000 square feet of office, manufacturing, and storage space. The term of the lease is for ten years, which commenced on August 1, 2022, at a base rate of $78,000 per month with a 2% increase each subsequent year. Koil Energy uses the facility as its primary base of operations, which includes the fabrication of custom engineered products as well as other subsea equipment for both oil and gas and renewable energy applications.

In February 2025, Koil Energy opened a location in Macaé, Brazil. The 180,000 square foot facility includes a 27,000 square foot workshop for manufacturing. The facility is leased under a four-year agreement that commenced February 1, 2025, at a base rate of R$140,000 per month (approximately $25,000 per month at current exchange rates). The Brazil facility is primarily focused on engineering, manufacturing, and testing for cable management, umbilicals, and flexible pipes in the Campos Basin.

The rest of Item 2

We also lease, on a month-to-month basis, approximately 19,000 square feet of storage space in Mobile, Alabama to house our 3,400 metric ton and 3,500 metric ton carousel systems for $11,000 per month.

We believe that these facilities are suitable, adequate and of sufficient capacity to support our current operations.

Item 2 of the 10-K filed Mar 31, 2026.3

Leadership

Who has led Koil Energy Solutions, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Charles K. Njuguna2019
  2. Erik Wiik2024

Chair

  1. Robert Edward Chamberlain Jr.2007–2009
  2. Eugene L. Butler2009–2017

President

  1. Charles K. Njuguna2019
  2. Erik Wiik2024

Chief financial officer

  1. John Christopher Siedhoff2007
  2. Eugene L. Butler2007–2017
  3. Gay Stanley Mayeux2010
  4. Charles K. Njuguna2018

Chief operating officer

  1. Micah Thomas Simmons2019
2010201520202025
Board members and other officers (16)

Former names

  • Deep Down, Inc.Nov 29, 2006 to Feb 21, 20232
  • MediQuip Holdings, INCMay 1, 2006 to Dec 20, 20062
  • TRUE HEALTH INCMay 15, 2000 to Apr 10, 20062

Timeline

  1. Jun 17, 20268-K Entered a material agreement33
  2. May 22, 20268-K Entered a material agreement34
  3. May 18, 20268-K Results of operations35
  4. Apr 1, 20268-K Results of operations36
  5. Jun 6, 20258-K Change of auditor37
  6. May 21, 20258-K Results of operations38
  7. Apr 25, 20258-K Entered a material agreement; Executive or director change; Regulation FD disclosure39
  8. Apr 15, 20258-K Results of operations40
  9. Jan 15, 20258-K Executive or director change41
  10. Nov 4, 20248-K Results of operations42
  11. Aug 5, 20248-K Results of operations43
  12. May 6, 20248-K Results of operations44
  13. Apr 23, 2024New chief executive Erik Wiik becomes CEO12
  14. Oct 3, 2019New chief executive Charles K. Njuguna becomes CEO13

Calendar

When it reported results

  1. May 18, 2026Reported quarterly or annual results35
  2. Apr 1, 2026Reported quarterly or annual results36
  3. May 21, 2025Reported quarterly or annual results38
  4. Apr 15, 2025Reported quarterly or annual results40
  5. Nov 4, 2024Reported quarterly or annual results42
  6. Aug 5, 2024Reported quarterly or annual results43
  7. May 6, 2024Reported quarterly or annual results44
  8. Mar 27, 2024Reported quarterly or annual results45

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

99 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 27 major events, 28 insider forms, 16 large holders, 7 other. The latest 20:

  1. Sep 24, 20264 EDGAR
  2. Sep 21, 20264 EDGAR
  3. Sep 10, 20264 EDGAR
  4. Sep 3, 20264 EDGAR
  5. Aug 28, 20264 EDGAR
  6. Aug 26, 2026144 EDGAR
  7. Aug 17, 20264 EDGAR
  8. Aug 14, 202610-Q FORM 10-Q FOR JUN 2026 EDGAR
  9. Jul 10, 20264 EDGAR
  10. Jun 17, 20268-K CURRENT REPORT EDGAR
  11. May 22, 20268-K EDGAR
  12. May 18, 20268-K CURRENT REPORT EDGAR
  13. May 15, 202610-Q FORM 10-Q FOR MAR 2026 EDGAR
  14. Apr 14, 20264 PRIMARY DOCUMENT EDGAR
  15. Apr 1, 20268-K EDGAR
  16. Mar 31, 202610-K FORM 10-K FOR DEC 2025 EDGAR
  17. Jan 9, 2026SCHEDULE 13G/A EDGAR
  18. Dec 3, 20254 PRIMARY DOCUMENT EDGAR
  19. Dec 3, 2025SCHEDULE 13D/A EDGAR
  20. Dec 3, 2025SCHEDULE 13D/A EDGAR

The 99 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

9 open-market trades by officers, directors and large owners since October 2021: 2 buys and 7 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 22, 2026GOLDMAN NEAL IDirectorSale10,505$2.97$31.2KForm 4
Sep 17, 2026GOLDMAN NEAL IDirectorSale6,800$3.03$20.6KForm 4
Sep 8, 2026GOLDMAN NEAL IDirectorSale14,135$3.05$43.1KForm 4
Sep 4, 2026GOLDMAN NEAL IDirectorSale7,740$3.12$24.1KForm 4
Sep 1, 2026GOLDMAN NEAL IDirectorSale2,000$3.20$6.4KForm 4
Aug 26, 2026GOLDMAN NEAL IDirectorSale6,125$3.20$19.6KForm 4
Apr 13, 2026IFCM MicroCap Fund LP10% ownerBuy36,322$1.72$62.5KForm 4
Dec 1, 2025Cassel Ian J.10% ownerBuy592,000$1.35$799.2KForm 4
Sep 12, 2025Carden MarkDirectorSale50,000$1.96$98.0KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

SEC filer profile

How Koil Energy Solutions, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARKoil Energy Solutions, Inc.1
  • CIK0001110607
  • Employer ID (EIN)75-22637323
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; a shell company3
  • Incorporated inNevada3
  • Fiscal year endsDecember 311
  • Industry code (SIC)3533 Oil & Gas Field Machinery & Equipment1
  • SEC reviewing officeOffice of Energy & Transportation, Division of Corporation Finance1
  • Business address1310 Rankin Road, Houston, TX 770731
  • Phone(281) 517-50001
  • Shares outstanding12,255,985 as of Aug 13, 202611
  • Public float$14.2M as of Jun 30, 20253
  • AuditorBaker Tilly US, LLP, Houston, Texas PCAOB ID 23; no auditor attestation of internal control over financial reporting3
  • On EDGAR sinceApr 13, 20001
  • Filings571 in all: 8-K (162), 4 (95), 10-Q (57), NT 10-Q (24), 10QSB (23), 3 (21), 10-K (18), SC 13G/A (17)1
    All 44 form types

    5 (16), CORRESP (15), 8-K/A (14), SC 13G (11), NT 10-K (10), UPLOAD (10), 10KSB (8), 10-Q/A (7), SC 13D (7), 10KSB/A (5), SC 13D/A (5), PRE 14C (4), 4/A (3), DEF 14C (3), S-1/A (3), SCHEDULE 13D/A (3), SCHEDULE 13G/A (3), 10-K/A (2), 144 (2), 424B3 (2), D (2), EFFECT (2), S-1 (2), S-8 (2), SC 14F1 (2), 10QSB/A (1), 10SB12G (1), 5/A (1), AW (1), DEFR14C (1), NTN 10K (1), PRER14C (1), REGDEX (1), REGDEX/A (1), SC 14F1/A (1), SCHEDULE 13G (1)

  • Latest filingsAnnual report (10-K) Mar 31, 2026
    Quarterly report (10-Q) Aug 14, 2026
    Latest 8-K (8-K) Jun 17, 2026

Risk factors and legal proceedings

Legal proceedings

From time to time, the Company is party to various legal proceedings arising in the ordinary course of business. The Company expenses or accrues legal costs as incurred. Except as described below, the Company is not a party to any material pending legal proceedings, other than ordinary routine litigation incidental to our business.

WW Champion Developments Lawsuit

The Company was previously involved in a legal dispute with its former landlord, WW Champion Developments, Inc. ("WW Champion”). On September 23, 2024, WW Champion filed a lawsuit against the Company alleging breach of contract and seeking money damages of $1,229,000 in the 281st District Court of Harris County in an action styled WW Champion Developments, Inc. vs. Koil Energy Solutions, Inc., Cause Number 2024-65006. WW Champion alleged that Koil Energy breached a lease agreement between the parties by abandoning the premises, failing to maintain proper fire prevention measures, and failing to pay its remaining rental payments.

The matter was settled in June 2025 for $590,000. The Company had previously recorded a liability of $923,000 and therefore recognized a gain of $333,000 upon resolution of the lawsuit. This gain is recorded in the consolidated statements of operations under Other (income), net. Payment terms for the settlement included the forfeiture of a $90,000 deposit, a $200,000 payment on July 1, 2025, and six monthly payments of $50,000 each commencing August 1, 2025. As of January 2026, all such amounts were fully paid.

The opening of Item 3, Legal Proceedings.3

Sources

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