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SUBSEQUENT EVENTS
6 Months Ended
Jun. 30, 2024
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

NOTE 16 – SUBSEQUENT EVENTS

Acquisition of Superior Drilling Products, Inc.

On August 1, 2024, the Company announced the closing (the “SDPI Closing”) of the acquisition of Superior Drilling Products, Inc. (“SDPI”) pursuant to the Agreement and Plan of Merger, dated March 6, 2024 (the “Merger Agreement”), by and among the Company, SDPI, DTI Merger Sub I, Inc., a Delaware corporation and direct wholly owned subsidiary of the Company, and Merger DTI Merger Sub II, LLC, a Delaware limited liability company and wholly owned subsidiary of the Company (“Merger Sub II”), pursuant to which Merger Sub I merged with and into SDPI (the “First Merger”), with SDPI surviving as a wholly owned subsidiary of DTI and upon the effective time of the First Merger (the “First Effective Time”), SDPI, as the surviving corporation of the First Merger, merged with and into Merger Sub II (the “Second Merger,” and together with the First Merger, the “Merger”), with Merger Sub II surviving as a wholly owned subsidiary of the Company. In connection with the Closing, the Company issued (i) $14.9 million and (ii) 4,845,132 shares of DTI common stock to former shareholders of SDPI as merger consideration. The initial accounting for this business combination is in process, which includes a valuation analysis to value the assets and liabilities assumed as a result of the transaction. As such, the impact on the consolidated financial statements cannot be estimated at this time.