KLNG on OTC
Koil Energy Solutions, Inc.
Economic uncertainty and financial market conditions may impact our customer base, suppliers, and backlog;.3 From its latest annual report
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Last updated Oct 19, 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
Every line of the income statement as filed: the last 2 fiscal years, latest first.4
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| 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 |
| Basic | 12.1K shares | 12.2K shares |
| Fully diluted | 12.1K shares | 12.3K shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 3 fiscal years (annual) or 3 quarters (quarterly), latest first.4
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash | $1.5M | $3.4M | |
| Accounts receivable, net of allowance for credit losses of $569 and $0 as of December 31, 2025, and 2024, respectively | $4.8M | $2.8M | |
| Employee retention tax credit receivable | $0 | $323.0K | |
| Inventory | $354.0K | $404.0K | |
| Contract assets | $2.9M | $3.1M | |
| Prepaid expenses and other current assets | $403.0K | $210.0K | |
| Total current assets | $9.9M | $10.2M | |
| Property, plant and equipment, net | $3.6M | $2.8M | |
| Intangibles, net | $306.0K | $64.0K | |
| Right-of-use operating lease assets | $5.8M | $5.4M | |
| Right-of-use finance lease assets | $53.0K | $29.0K | |
| Other assets | $98.0K | $267.0K | |
| Total assets | $19.8M | $18.7M | |
| Accounts payable and accrued expenses | $3.0M | $3.3M | |
| Contract liabilities | $172.0K | $645.0K | |
| Deferred revenue | $315.0K | ||
| Borrowings under factoring arrangement | $541.0K | $0 | |
| Other liabilities | $143.0K | $0 | |
| Current operating lease liabilities | $899.0K | $537.0K | |
| Current finance lease liabilities | $20.0K | $12.0K | |
| Total current liabilities | $5.1M | $4.5M | |
| Other liabilities, long-term | $24.0K | $0 | |
| Operating lease liability, long-term | $5.7M | $5.6M | |
| Finance lease liability, long-term | $29.0K | $12.0K | |
| Total liabilities | $10.9M | $10.1M | |
| Common stock, 24,500,000 shares authorized at $0.001 par value, 16,206,010 and 16,106,010 shares issued at December 31, 2025, and December 31, 2024 | $16.0K | $16.0K | |
| Additional paid-in capital | $74.6M | $74.2M | |
| Treasury stock, 4,017,808 shares at December 31, 2025, and December 31, 2024, at cost | -$3.1M | -$3.1M | |
| Accumulated other comprehensive loss | -$15.0K | $0 | |
| Accumulated deficit | -$62.5M | -$62.5M | |
| Total stockholders equity | $9.0M | $8.6M | $5.6M |
| Total liabilities and stockholders equity | $19.8M | $18.7M | |
| Allowance for credit losses | $569.0K | $0 | |
| Common stock, shares authorized | 24.5M shares | 24.5M shares | |
| Common stock, par value | $0.00 | $0.00 | |
| Common stock, shares issued | 16.2M shares | 16.1M shares | |
| Treasury stock, shares | 4.0M shares | 4.0M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash | $1.5M | $3.4M | |
| Accounts receivable, net of allowance for credit losses of $569 and $0 as of December 31, 2025, and 2024, respectively | $4.8M | $2.8M | |
| Employee retention tax credit receivable | $0 | $323.0K | |
| Inventory | $354.0K | $404.0K | |
| Contract assets | $2.9M | $3.1M | |
| Prepaid expenses and other current assets | $403.0K | $210.0K | |
| Total current assets | $9.9M | $10.2M | |
| Property, plant and equipment, net | $3.6M | $2.8M | |
| Intangibles, net | $306.0K | $64.0K | |
| Right-of-use operating lease assets | $5.8M | $5.4M | |
| Right-of-use finance lease assets | $53.0K | $29.0K | |
| Other assets | $98.0K | $267.0K | |
| Total assets | $19.8M | $18.7M | |
| Accounts payable and accrued expenses | $3.0M | $3.3M | |
| Contract liabilities | $172.0K | $645.0K | |
| Deferred revenue | $315.0K | ||
| Borrowings under factoring arrangement | $541.0K | $0 | |
| Other liabilities | $143.0K | $0 | |
| Current operating lease liabilities | $899.0K | $537.0K | |
| Current finance lease liabilities | $20.0K | $12.0K | |
| Total current liabilities | $5.1M | $4.5M | |
| Other liabilities, long-term | $24.0K | $0 | |
| Operating lease liability, long-term | $5.7M | $5.6M | |
| Finance lease liability, long-term | $29.0K | $12.0K | |
| Total liabilities | $10.9M | $10.1M | |
| Common stock, 24,500,000 shares authorized at $0.001 par value, 16,206,010 and 16,106,010 shares issued at December 31, 2025, and December 31, 2024 | $16.0K | $16.0K | |
| Additional paid-in capital | $74.6M | $74.2M | |
| Treasury stock, 4,017,808 shares at December 31, 2025, and December 31, 2024, at cost | -$3.1M | -$3.1M | |
| Accumulated other comprehensive loss | -$15.0K | $0 | |
| Accumulated deficit | -$62.5M | -$62.5M | |
| Total stockholders equity | $9.0M | $8.6M | $5.6M |
| Total liabilities and stockholders equity | $19.8M | $18.7M | |
| Allowance for credit losses | $569.0K | $0 | |
| Common stock, shares authorized | 24.5M shares | 24.5M shares | |
| Common stock, par value | $0.00 | $0.00 | |
| Common stock, shares issued | 16.2M shares | 16.1M shares | |
| Treasury stock, shares | 4.0M shares | 4.0M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 2 fiscal years, latest first.4
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net (loss) income | -$38.0K | $2.6M |
| Share-based compensation | $375.0K | $254.0K |
| Depreciation and amortization | $590.0K | $571.0K |
| (Gain) loss on sale of property, plant and equipment | -$12.0K | $38.0K |
| Credit loss expense | $569.0K | $0 |
| Non-cash lease expense | $51.0K | $67.0K |
| Accounts receivable | -$2.3M | $1.5M |
| Contract assets | $223.0K | -$2.6M |
| Inventories | $50.0K | $26.0K |
| Prepaid expenses and other current assets | -$193.0K | $148.0K |
| Other assets | $169.0K | -$103.0K |
| Accounts payable and accrued expenses | -$175.0K | -$34.0K |
| Contract liabilities | -$168.0K | -$721.0K |
| Other liabilities | -$66.0K | $0 |
| Net cash (used in) provided by operating activities | -$901.0K | $1.7M |
| Proceeds from sale of property, plant and equipment | $12.0K | $2.0K |
| Purchases of property, plant and equipment | -$1.3M | -$375.0K |
| Capitalized software development costs | -$263.0K | $0 |
| Net cash used in investing activities | -$1.5M | -$373.0K |
| Proceeds from factoring arrangement | $1.2M | $995.0K |
| Principal payments on factoring arrangement | -$703.0K | -$995.0K |
| Proceeds from stock options exercised | $37.0K | $112.0K |
| Principal payments under finance lease obligations | -$16.0K | -$73.0K |
| Net cash provided by financing activities | $562.0K | $39.0K |
| Effect of exchange rate changes on cash and cash equivalents | -$15.0K | $0 |
| Change in cash | -$1.9M | $1.4M |
| Property, plant and equipment acquired via debt | $137.0K | $0 |
| Operating lease right-of-use assets obtained in exchange for lease liabilities | $1.1M | $0 |
| Finance lease right-of-use assets obtained in exchange for lease liabilities | $41.0K | $0 |
No quarter-by-quarter statement was filed.
Leadership
Who has led Koil Energy Solutions, Inc., and when. Pick a name to see everywhere that person has worked.
Chief executive
President
Chief financial officer
Chief operating officer
2010201520202025
- Chief executive officerErik Wiik Apr 23, 2024 to Apr 23, 202412
- Chief executive officerCharles K. Njuguna Oct 3, 2019 to Oct 3, 201913
- ChairEugene L. Butler Oct 27, 2009 to Oct 31, 201714
- ChairRobert Edward Chamberlain Jr. Nov 20, 2007 to Mar 25, 200915
- PresidentErik Wiik Apr 23, 2024 to Apr 23, 202412
- PresidentCharles K. Njuguna Oct 3, 2019 to Oct 3, 201913
- Chief financial officerCharles K. Njuguna Jul 27, 2018 to Jul 27, 201816
- Chief financial officerGay Stanley Mayeux May 12, 2010 to Aug 23, 201017
- Chief financial officerJohn Christopher Siedhoff Nov 27, 2007 to Nov 29, 200718
- Chief financial officerEugene L. Butler Nov 30, 2007 to Oct 31, 201719
- Chief operating officerMicah Thomas Simmons Oct 3, 2019 to Oct 3, 201920
Board members and other officers (16)
- Vice President of FinanceTrevor L. Ashurst Mar 27, 2020 to Oct 15, 202421
- Corporate ControllerIra Selya Jun 17, 2011 to Jul 3, 201422
- VP Oper & Business DevelopmentMichael J. Newbury Jun 17, 2011 to Jun 18, 201223
- Vice PresidentBradley Parro Nov 24, 2008 to Mar 25, 200924
- SecretaryMary Lynne Budrunas Nov 20, 2007 to Feb 10, 201725
- Board memberErik Wiik Apr 23, 2024 to Apr 23, 202412
- Board memberDavid J. Douglas Apr 26, 2019 to now26
- Board memberNeal I. Goldman Jun 7, 2019 to now27
- Board memberCharles K. Njuguna Oct 3, 2019 to Oct 3, 201913
- Board memberMark Carden May 8, 2014 to now28
- Board memberRandolph W. Warner May 31, 2013 to Jun 1, 201629
- Board memberMary Lynne Budrunas Mar 31, 2011 to Feb 10, 201730
- Board memberMark R. Hollinger May 17, 2010 to Jan 27, 201231
- Board memberDaniel Bo Ritz Jr. Nov 20, 2007 to Nov 29, 200732
- Board memberJohn Christopher Siedhoff Nov 27, 2007 to Nov 29, 200718
- Board memberEugene L. Butler Nov 30, 2007 to Mar 25, 200919
Former names
Timeline
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:
- Sep 24, 20264 EDGAR
- Sep 21, 20264 EDGAR
- Sep 10, 20264 EDGAR
- Sep 3, 20264 EDGAR
- Aug 28, 20264 EDGAR
- Aug 26, 2026144 EDGAR
- Aug 17, 20264 EDGAR
- Aug 14, 202610-Q FORM 10-Q FOR JUN 2026 EDGAR
- Jul 10, 20264 EDGAR
- Jun 17, 20268-K CURRENT REPORT EDGAR
- May 22, 20268-K EDGAR
- May 18, 20268-K CURRENT REPORT EDGAR
- May 15, 202610-Q FORM 10-Q FOR MAR 2026 EDGAR
- Apr 14, 20264 PRIMARY DOCUMENT EDGAR
- Apr 1, 20268-K EDGAR
- Mar 31, 202610-K FORM 10-K FOR DEC 2025 EDGAR
- Jan 9, 2026SCHEDULE 13G/A EDGAR
- Dec 3, 20254 PRIMARY DOCUMENT EDGAR
- Dec 3, 2025SCHEDULE 13D/A EDGAR
- 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.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Sep 22, 2026 | GOLDMAN NEAL IDirector | Sale | 10,505 | $2.97 | $31.2K | Form 4 |
| Sep 17, 2026 | GOLDMAN NEAL IDirector | Sale | 6,800 | $3.03 | $20.6K | Form 4 |
| Sep 8, 2026 | GOLDMAN NEAL IDirector | Sale | 14,135 | $3.05 | $43.1K | Form 4 |
| Sep 4, 2026 | GOLDMAN NEAL IDirector | Sale | 7,740 | $3.12 | $24.1K | Form 4 |
| Sep 1, 2026 | GOLDMAN NEAL IDirector | Sale | 2,000 | $3.20 | $6.4K | Form 4 |
| Aug 26, 2026 | GOLDMAN NEAL IDirector | Sale | 6,125 | $3.20 | $19.6K | Form 4 |
| Apr 13, 2026 | IFCM MicroCap Fund LP10% owner | Buy | 36,322 | $1.72 | $62.5K | Form 4 |
| Dec 1, 2025 | Cassel Ian J.10% owner | Buy | 592,000 | $1.35 | $799.2K | Form 4 |
| Sep 12, 2025 | Carden MarkDirector | Sale | 50,000 | $1.96 | $98.0K | Form 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.
- Intelligent Fanatics Capital Management LLCSCHEDULE 13G/A, 4 filings Apr 2, 2025 to Jan 9, 202633
- MAZ Partners LPSCHEDULE 13D/A, 4 filings Feb 8, 2022 to Dec 3, 202534
- Ronald Eric SmithSCHEDULE 13D/A, 2 filings Jul 9, 2025 to Dec 3, 202535
- Neal I. GoldmanSC 13D, 1 filing Oct 15, 202436
- Galloway Capital Partners, LLCSC 13D, 2 filings Nov 27, 2023 to Mar 6, 202437
- AEGIS FINANCIAL CORPSC 13G/A, 2 filings Feb 10, 2023 to Feb 8, 202438
- David J. DouglasSC 13D/A, 1 filing Sep 2, 202239
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 12SEC EDGARErik Wiik, Chief executive officer
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- 14SEC EDGAREugene L. Butler, Chair
- 15SEC EDGARRobert Edward Chamberlain Jr., Chair
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- 22SEC EDGARIra Selya, Corporate Controller
- 23
- 24SEC EDGARBradley Parro, Vice President
- 25SEC EDGARMary Lynne Budrunas, Secretary
- 26SEC EDGARDavid J. Douglas, Board member
- 27SEC EDGARNeal I. Goldman, Board member
- 28SEC EDGARMark Carden, Board member
- 29SEC EDGARRandolph W. Warner, Board member
- 30SEC EDGARMary Lynne Budrunas, Board member
- 31SEC EDGARMark R. Hollinger, Board member
- 32SEC EDGARDaniel Bo Ritz Jr., Board member
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