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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

 

FORM 8-K

 

 

 

CURRENT REPORT

Pursuant to Section 13 or 15 (d) of the

Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported)

January 10, 2025

 

KOIL ENERGY SOLUTIONS, INC.

(Exact name of registrant as specified in its charter)

 

 

 

Nevada   000-30351   75-2263732

(State or other jurisdiction

of incorporation)

   (Commission File Number)  

(I.R.S. Employer

Identification No.)

 

1310 Rankin Road, Houston, TX 77073

(Address of principal executive offices) (Zip Code)

 

(281) 517-5000

Registrant’s telephone number, including area code

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
   
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.

Emerging growth company ☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

   

 

 

SECTION 5 – CORPORATE GOVERNANCE AND MANAGEMENT

 

ITEM 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

 

On January 10, 2025, Trevor Ashurst resigned as Vice President of Finance and Administration (principal financial officer) of Koil Energy Solutions, Inc. (the “Company”), effective as of February 1, 2025. The resignation of Mr. Ashurst did not involve any disagreement with the Company.

 

SECTION 9 – FINANCIAL STATEMENTS AND EXHIBITS

 

ITEM 9.01.Financial Statements and Exhibits.

 

(d) Exhibits

 

99.1Press Release of Koil Energy, Inc. dated January 15, 2025
104Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

 

  

 

 

 

 

 2 

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

 

  KOIL ENERGY SOLUTIONS, INC.
   
  By:

/s/ Erik Wiik

    Erik Wiik
    President and Chief Executive Officer

 

Date: January 15, 2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 3 

 

Exhibit 99.1

 

 

 

 

 

KOIL Energy Announces Changes to Its Finance Team

 

January 15, 2024 – HOUSTON – KOIL Energy Solutions, Inc. (OTCQB: KLNG) today announced the resignation of Mr. Trevor Ashurst from his position as Vice President of Finance and Administration, effective February 1, 2025.

 

Mr. Erik Wiik, President and CEO of KOIL Energy, expressed his gratitude for Mr. Ashurst's contributions during a transformative period for the company. “Trevor played a crucial role in the rebranding, the establishment of a new state-of-the-art facility, and significantly enhancing our profitability. We extend our best wishes to him in his future endeavors."

 

To support KOIL’s ongoing growth, the company has partnered with the Executive Search Firm SNRG Corporation to recruit a Chief Financial Officer and a Human Resources Manager.

 

###

 

About KOIL

 

KOIL is a leading energy services company offering subsea equipment and support services to the world’s energy and offshore industries. Founded in 1997, the Houston-based company is comprised of world-class experts in engineering and manufacturing who provide innovative solutions to complex customer challenges with a fearless commitment to Energizing the Future. KOIL’s highly experienced team can support subsea engineering, manufacturing, installation, commissioning, and maintenance projects located anywhere in the world. Visit www.koilenergy.com to learn more.

 

 

Investor Relations Contact:

ir@koilenergy.com

 

 

 

 

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