In order to build an infrastructure capable of supporting substantial continued revenue growth, the Company made significant investments in SG&A and facilities in 2012, 2013 and 2014. As Diverse was poised to take advantage of an increase in revenue related to the boom in U.S. fracking, the industry slowed as the price of oil plummeted, leaving the Company with an inflated cost structure and under-utilized manufacturing capacity for the current revenue level. As a result, Diverse was forced to complete difficult but necessary cost savings initiatives to right-size the business. Despite the Company’s cost saving efforts, the continued decline in performance through Q3 2015 placed additional strain on the Company’s lack of liquidity. In September 2015, in order to avoid further deterioration of its business and to retain the value of its assets, Diverse filed for protection under Chapter 11 bankruptcy. ITS Engineered Systems, had already filed for protection under Chapter 11 bankruptcy in April 2015.