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GDDY starts tomorrow IPO..
GoDaddy files for IPO of at least 22 million shares, to raise up to $418 million
Published: Mar 19, 2015 7:16 a.m. ET
7 1
By
TOMI
KILGORE
REPORTER
NEW YORK (MarketWatch) -- GoDaddy Inc. has filed for an initial public offering of at least 22 million shares, which are expected to be priced between $17 and $19 dollars a share. The Internet-domain company could raise $418 million if the IPO is priced at the top of the expected range. The offering could increase to 25.3 million shares if the underwriters of the IPO exercise their option to buy additional shares. The stock will be listed on the New York Stock Exchange, under the symbol "GDDY." The lead underwriters of the IPO are Morgan Stanley, J.P. Morgan and Citigroup. GoDaddy said there will be a minimum of 61 million Class A shares GDDY, +0.00% and about 90 million Class B shares outstanding. After the offering, the company said affiliates of Kohlberg Kravis Roberts & Co., Silver Lake Partners, Technology Crossover Ventures and founder Bob Parsons will control about 82.1% of the voting power of the oustanding stock.
It might take til the end of next week to clear something up to get funds...
truth.. and good point
I dont ever recalling the title for eggspress getting transferred to ptah and neither will crane creek trucking... Why???? Because ptah is a holding company... Its pretty obvious that the mob wants peeps to be confused but I am not....
There's no point even posting on that board corrupted mob that runs it... I done until news comes out.... gl
Liking the updated intro over on the other board ofspring, real nice.
ptah yesterday's action was either a last old convertible or tca global... Stay calm if it was a convertible that should be the last because of such a odd number if it was tca global then thee announcement is coming. .. I think good news is very close just my hunch as it looks like a dump under accum that tells me it was a old convertible etrade also shows insider activity mark for yesterday's volume....
ODFL Old Dominion Frei... 79.96 -0.38 -0.47% 6.93B
ARCB ArcBest Corp 44.42 +0.10 0.23% 1.16B
CNW Con-way Inc 50.73 -0.03 -0.06% 2.94B
SAIA Saia Inc 56.41 -0.12 -0.21% 1.40B
YRCW YRC Worldwide Inc 24.84 +0.98 4.11% 747.92M
RRTS Roadrunner Transp... 22.18 -0.14 -0.63% 845.35M
TFIFF TRANSFORCE INC 25.46 +0.19 0.74% 2.60B
FDX FedEx Corporation 182.03 +1.85 1.03% 51.22B
VEXPQ Velocity Express ... 0.0028 11,169.00
JBHT J B Hunt Transpor... 81.41 +0.14 0.17% 9.53B
AUTO AutoInfo, Inc.
$YRCW big winner of mine, got in Nov 2013 right before the run when they were going "broke". Also $ODFL Old Dominion Freight Line is another giant in the making i'd wait for a slight dip in it if you wanna build a position. $CTVI I called @ $10 while back havent been looking at it shoulda grabbed some shares but went against myself lol..
Update $YRCW: ofspring people in the logistics industry when I asked about what they thought on $YRCW they told me it was a company destined for failure lol boy did I show them wrong when my call shot up to those levels.
Ya got any tickers on trucking logistics that can compare to ptah??? small large or mid caps something to get more info on the industry brain is fried been a long week..
thats cool people tell me they wish they bought ford during the crash. I like mntx saw that last week on here, anything freight shipment logistics trucking i like. trucking & machinery are good industries.
Update: running out of posts here. $KNX is another trucking co I like.
My first trade was in ford when the crash happened bought around $2. had no expirence had a taste of profit wanted to make fast money and got sucked into pennys little by little i have less in my profile of pennys mntx was another when the crash hit bought i think 4. sold made money got into pennys to go fast money bounced around on gold and lithium penny stocks for awhile bought a penny bank stock pcbc they did a rs because the crisis again and did well with it too.. Father inlaw told me not to sell sure shit i took my profit and he made 5 times than me it got bought out and merge with another bank... Even bought some etrade shares cant remember what i bought it they were in trouble and did a rs didnt make anything on it..
Yep I agree It's always a risk with these but yea I do like PTAH they just need to deliver & they got a shot they still got opportunities ahead just hope they've been doing good things for the company these past few months.
I hear you. I like blue chips too big companies don't get me wrong. Pennies plays are just fun for me in the mean time till I find something noteworthy to add.. Wish I held onto my onto my original TSLA position got in at like 37-45 prob won't believe me but I did then sold around $88 mark. Bought back at like 180's for some volatility trades had some more fun. My original TSLA buy was one of my first real trades actually only been trading for a few years now learning a lot as I go along.
I still like ptah but i dont get into penny stocks heavy anymore it is what is and i have done huge amounts of dd in it and still believe but will not get heavy in any penny stock again do to the diluted scams out there only bet what i feel is enough and thats it...
Just look at that chart missed those 20s didnt get in the reason why i did that research because i was heavy into lithium concessions in chile bought a penny stock that was a sure thing until it got diluted the piss out of it and chilean government screwed it up with a rigged vote.. Thats what made me go to the real stocks with real value... Doing 2 plus yrs of research really makes ya think...
I remember that first article, what a squeeeeeze lol.
Me and adeezl were all over it at first I knew it was going up and it sure did we had fun with the bashers like bbseller lol.. heres my first post there..
Q4 earnings report feb 11 there should be 02/01/2013 10:43 AM
http://www.digitaljournal.com/article/339937 01/26/2013 05:29 PM
Chart looks good , ill do some looking into.
TSLA is one of those companies that are just part of the beginning of a new boom. I caught on very early when PPS was low like 45's I believe. Restructured my position since.. 300-500pps ultimately is a fair and somewhat near goal I believe. They just have something the other co's don't. Always a short squeeze with TSLA so many opportunities like you said.
TSLA I am in it long still got some in the 80s 90s bought some at 214. sold 250s Longterm shares are for retirement waiting for forward split reach 300 to 500 maybe sell some but i really want to hold them..
I do work on all sorts of stocks love to do it and learn and make money good or bad there is always something to learn about it..
$TSLA LONG imo, I've had my fair share of fun with this ticker $TSLA.
Yup going to be updating the board def going to need redesign. Going to be working on it & adding some plays I'm interested in.
We need picks here forgot about this board put anything ya got..
Keepin an eye on CBRL, that dividend is extremely advantageous
I know man i use to work at one a long time ago kept some of my employee shares lol it was like 20 yrs ago still get to vote with them i love it.. I took the mod position there..Love the food there...http://investorshub.advfn.com/Cracker-Barrel-Old-Country-Store-Inc-CBRL-15044/
Wow that is a nuts play! CBRL is actually a really good roadside stop off dive that you go to on vaca or truckin' down the road.
Restaurants are hot..
CBRL Cracker Barrel Ol... 128.01 +2.14 1.70% 3.01B
DENN Denny's Corporation 9.69 +0.12 1.25% 810.84M
BOBE Bob Evans Farms Inc 54.36 +0.28 0.52% 1.27B
BH Biglari Holdings Inc 371.45 -2.34 -0.63% 772.10M
FRS Frisch's Restaura... 27.46 +0.31 1.14% 138.95M
DIN DineEquity Inc 99.33 +2.03 2.09% 1.84B
DRI Darden Restaurant... 56.99 +1.13 2.02% 7.41B
BLMN Bloomin' Brands Inc 22.77 +0.84 3.83% 2.76B
EAT Brinker Intl., Inc. 56.33 +0.77 1.39% 3.53B
JACK Jack in the Box Inc. 74.50 +0.53 0.72% 2.86B
ARKR Ark Restaurants Corp 21.87 +0.10 0.46% 73.40M
I still like PTAH and still believe its a good company..
I looking to do more research on shipping companies that does dry supplies and how they are doing the last couple of yrs.. More knowledge more ways to make money imo and newl is in it..
CBRL Check this run out in 2 months tried to warn peeps Cracker barrel pays $1.00 dividend and October 17, 2014. The Board also authorized new share repurchases for up to $25 million of the Company’s outstanding common stock. The share repurchase authorization is effective immediately and replaces the prior authorization.
http://ih.advfn.com/p.php?pid=nmona&article=63914061
Check out that chart since Oct... wowww
http://finviz.com/chart.ashx?t=CBRL&ty=c&ta=1&p=d&s=l
http://shortsqueeze.com/?symbol=CBRL&submit=Short+Quote%99
http://www.secform4.com/insider-trading/1067294.htm
MNTX
http://finviz.com/chart.ashx?t=MNTX&ty=c&ta=1&p=d&s=l
http://shortsqueeze.com/?symbol=MNTX&submit=Short+Quote%99
http://www.secform4.com/insider-trading/1302028.htm
http://stockcharts.com/c-sc/sc?s=MNTX&p=D&yr=3&mn=0&dy=0&i=t85766474138&r=1411939412573
As you can see the 3 yr chart moves up took a dip
for last earnings also can see a huge support near $10 but expect it move back up...Why????
None of this was on last earnings report..
Manitex International, Inc. Announces $30 Million Contract Award for Specialized Military Equipment
Manitex International Agrees to Acquire PM-Group, S.p.A., of Modena, Italy with Over $100 Million in Global Annual Revenues
I expect High teens to $20. end of yr to first of the yr.
NEWL UPDATE
HIGH RISK VS HIGH REWARD
PIRAEUS, Greece, Oct. 23, 2014 /PRNewswire/ -- NewLead Holdings Ltd. (OTC: NEWL) ("NewLead" or the "Company") announced today that it has entered into a time charter contract for the recently delivered Handysize vessel, the "Newlead Castellano".
The Newlead Castellano has been chartered-out at a gross rate of $9,500 per day, minus a 6.25% commission payable to third parties, for a minimum of three and a maximum of five months. This employment is anticipated to generate approximately $855,000 of gross revenue for the minimum scheduled period of the time charter.
The Newlead Castellano is a 2013-built dry-bulk eco-type Handysize vessel of 35,542 dwt and is the third modern eco-type Handysize vessel to be delivered to NewLead's owned fleet in 2014.
As previously announced on September 22, 2014, when NewLead took delivery of the Newlead Castellano, the vessel is expected to generate approximately $1.7 million EBITDA per year assuming $1.73 million yearly operating expenses.
Mr. Michael Zolotas, Chairman and Chief Executive Officer of NewLead, stated, "We continue to capitalize on opportunities that arise in the dry bulk sector to increase the cash flow and future revenues of the Company. The Newlead Castellano has been fixed at a premium to current market charter rates."
Fleet Update
The following table details NewLead's fleet as of October 23, 2014:
Vessel Name
Size (dwts)
Vessel Type
Year Built
Dry Bulk Vessels
Newlead Castellano
35,542
Eco-type Handysize
2013
Newlead Albion
32,318
Eco-type Handysize
2012
Newlead Venetico
32,500
Eco-type Handysize
2012
Newlead Victoria
75,966
Panamax
2002
Newlead Markela
71,733
Panamax
1990
Tanker Vessels1
Captain Nikolas I
5,887
Chemical Tanker/Asphalt Carrier
2009
M/T Sofia
2,888
Chemical Tanker/Asphalt Carrier
2008
Gema
19,831
Oil Tanker
2001
1. These vessels are under management by Newlead Shipping SA
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
Make sure all read the SCUMBAGS of IRONRIDGE and what they did..
1. Newl will not RS on grey do to up listing on QB IMO...
Once the Form 15c-211 is cleared, the Company hopes to have its shares trade on the OTCQB market. The Company has engaged a market maker to file the necessary application with FINRA. The Company intends to make a further announcement regarding its trading market once the application is cleared.
2. On August 13, 2014, Ironridge Global IV, Ltd. (“Ironridge”) requested an additional 2.8 million common shares of NewLead Holdings Ltd. (the “Company”) and, on August 21, 2014, Ironridge requested an additional 3.2 million common shares of the Company. As of August 21, 2014, Ironridge has requested and/or received approximately 14.5 million shares (adjusted to reflect the 1-for-50 reverse split effective as of May 15, 2014 and the 1-for-50 reverse split effective as of July 15, 2014), as contained in Exhibit A, 7.3 million of which have been requested but not issued, and are therefore not included in the shares outstanding number below.
As of July 31, 2014, Ironridge has invested $2.5 million in the Company and force funded another $2.5 million, which was immediately returned pending resolution of the arbitration, and, as disclosed to the Company by Ironridge, has sold the common shares of the Company issued to it for aggregate proceeds of $32.3 million.
As of August 21, 2014, the Company had approximately 33.4 million shares outstanding.
As of July 31, 2014, Ironridge has invested $2.5 million in the Company and force funded another $2.5 million, which was immediately returned pending resolution of the arbitration, and, as disclosed to the Company by Ironridge, has sold the common shares of the Company issued to it for aggregate proceeds of $32.3 million.
On September 11, 2014, Ironridge Global IV, Ltd. (“Ironridge”) requested an additional 3,830,396 common shares of NewLead Holdings Ltd. (the “Company”). As of September 11, 2014, Ironridge had requested and/or received approximately 18.3 million shares (adjusted to reflect the 1-for-50 reverse split effective as of May 15, 2014 and the 1-for-50 reverse split effective as of July 15, 2014), as contained in Exhibit A, approximately 7.0 million of which have been requested but not issued, and are therefore not included in the shares outstanding number below.
As of July 31, 2014, Ironridge has invested $2.5 million in the Company and force funded another $2.5 million, which was immediately returned pending resolution of the arbitration, and, as disclosed to the Company by Ironridge, has sold the common shares of the Company issued to it for aggregate proceeds of $32.3 million.
As of September 12, 2014, the Company had approximately 42.6 million shares outstanding.
3. QB
http://www.otcmarkets.com/marketplaces/otcqb
4. All vessels got announced and delivered..
NewLead Holdings Ltd.
Announces
Delivery of the Third Eco-Type Handysize Vessel since January 2014
PIRAEUS, Greece, September 22, 2014 - NewLead Holdings Ltd. (OTC: NEWL) ("NewLead" or the "Company") announced today that the "Newlead Castellano", a 2013-built dry-bulk eco-type Handysize vessel of 35,542 dwt, was delivered to NewLead's owned fleet on September 16, 2014.
The Newlead Castellano is trading on the spot market and is expected to generate approximately $1.7 million EBITDA per year assuming $1.73 million yearly operating expenses.
The Newlead Castellano is the third modern eco-type Handysize vessel to be delivered to NewLead's owned fleet since January 2014. NewLead had agreed to acquire this vessel for a purchase price of $19.5 million in December 2013, as previously announced. The other two Handysize vessels, the Newlead Albion and the Newlead Venetico, both of which the Company had agreed to acquire in March 2014, for a total acquisition price of $37.0 million, were delivered on May 19, 2014 and July 25, 2014, respectively, as already announced.
Mr. Michael Zolotas, Chairman and Chief Executive Officer of NewLead, stated, “We are pleased to announce the delivery of the Newlead Castellano as scheduled. This is the third modern and fuel efficient vessel to be delivered to NewLead's fleet in less than a year. Today, NewLead's fleet is completely transformed and optimized. We have expanded our fleet by 85.7%, from two vessels to five vessels in less than one year. Today, we have a total fleet of eight vessels, including three tanker vessels under management. The average fleet age of our owned vessels is 8.53 years, reduced from 18.5 years at the beginning of this year."
Michael Zolotas, added, "We are accelerating the execution of our strategy to rebuild our fleet while focusing on younger vessels to ensure a longer revenue capacity through extended employment lifetime. We continue to capture on opportunities to grow our fleet to establish a strong platform ready to benefit from market and industry opportunities."
Fleet Update
The following table details NewLead's fleet as of September 22, 2014:
Vessel Name Size (dwts) Vessel Type Year Built
Dry Bulk Vessels
Newlead Castellano 35,542 Eco-type Handysize 2013
Newlead Albion 32,318 Eco-type Handysize 2012
Newlead Venetico 32,500 Eco-type Handysize 2012
Newlead Victoria 75,966 Panamax 2002
Newlead Markela 71,733 Panamax 1990
Tanker Vessels 1
Captain Nikolas I 5,887 Chemical Tanker/Asphalt Carrier 2009
M/T Sofia 2,888 Chemical Tanker/Asphalt Carrier 2008
Gema 19,831 Oil Tanker 2001
1. These vessels are under management by Newlead Shipping SA
5. 125mil court suit possible
June 23, 2014, in arbitration proceedings currently pending between the Company and Ironridge Global IV, Ltd. ("Ironridge"), the Company filed claims against Ironridge for breach of contract, fraudulent inducement of contract and fraud, securities market manipulation and misrepresentation in violation of United States federal securities laws, unjust enrichment, and violation of 15 U.S.C. 78p(b), seeking disgorgement of short-swing profits, damages in excess of $25 million, punitive damages in excess of $100 million, and reimbursement of legal costs and the costs of the arbitration. NewLead has also requested that the arbitration tribunal declare that the agreement between NewLead and Ironridge is terminated and/or void ab initio, and that Ironridge has no entitlement to the issuance of additional common shares of NewLead.
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
1. These vessels are under management by Newlead Shipping SA
So the scumbags had $22mil in proceeds and now they got $32.4 scamed from NEWL AND THE SHAREHOLDERS...
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10086600
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10167215
NEWL) (“NewLead” or the “Company”) announced today that on June 23, 2014, in arbitration proceedings currently pending between the Company and Ironridge Global IV, Ltd. (“Ironridge”), the Company filed claims against Ironridge for breach of contract, fraudulent inducement of contract and fraud, securities market manipulation and misrepresentation in violation of United States federal securities laws, unjust enrichment, and violation of 15 U.S.C. 78p(b), seeking disgorgement of short-swing profits, damages in excess of $25 million, punitive damages in excess of $100 million, and reimbursement of legal costs and the costs of the arbitration. NewLead has also requested that the arbitration tribunal declare that the agreement between NewLead and Ironridge is terminated and/or void ab initio , and that Ironridge has no entitlement to the issuance of additional common shares of NewLead.
Although the Company has continually indicated it has no desire to receive or intent to accept any further funding from Ironridge, until and subject to the resolution of the arbitration, Ironridge has unilaterally waived conditions under their notes, which notes were not due without such waiver, to attempt to force the Company to receive funding under the transaction documents, which funding has been returned by the Company. As Ironridge’s forced funding was not pursuant to any obligations it has under the transaction documents, the Company believes it is an attempt to be able to convert further preferred shares, while continuing to abuse the irrevocable instruction letter in order to immediately sell, as many common shares as possible. To this end, and notwithstanding the foregoing, following the forced funding, Ironridge immediately converted a portion of the preferred shares corresponding to the note it force funded and requested common shares, despite having the returned funds and the existence of the arbitration.
These actions, together with Ironridge’s request for substantial numbers of additional common shares on an almost daily basis, do not support Ironridge’s representations to the Company at the outset of its investment that it wished to be a "long-term” investor. Ironridge continues to sell substantial numbers of common shares of the Company on a daily basis, to the detriment of the Company and all of its stockholders. In this regard, Ironridge has already requested and/or received an aggregate of approximately 62 million common shares (through July 6, 2014, adjusted to give effect to the 1-for-50 reverse stock split, effective May 15, 2014) and has received approximately $22.8 million of proceeds (based upon information received from Ironridge) on the sale, in the Company's belief, of approximately 44 million of such common shares through June 30, 2014. These amounts include approximately 4.7 million common shares of Ironridge’s recent conversion of further preferred shares pursuant to the forced funding as outlined above. The balance of the share amount, approximately 57.3 million common shares requested and/or received, are the result of the conversions of the preferred shares it received at closing, which conversions are continuing under such initially received preferred shares when it advanced proceeds of $2.5 million and received preferred shares in lieu of a fee.
So that would be about 13mil left which could be done and remember they ask for more and newl rejected it and didnt issue anymore for them..
On August 13, 2014, Ironridge Global IV, Ltd. (“Ironridge”) requested an additional 2.8 million common shares of NewLead Holdings Ltd. (the “Company”) and, on August 21, 2014, Ironridge requested an additional 3.2 million common shares of the Company. As of August 21, 2014, Ironridge has requested and/or received approximately 14.5 million shares (adjusted to reflect the 1-for-50 reverse split effective as of May 15, 2014 and the 1-for-50 reverse split effective as of July 15, 2014), as contained in Exhibit A, 7.3 million of which have been requested but not issued, and are therefore not included in the shares outstanding number below.
As of July 31, 2014, Ironridge has invested $2.5 million in the Company and force funded another $2.5 million, which was immediately returned pending resolution of the arbitration, and, as disclosed to the Company by Ironridge, has sold the common shares of the Company issued to it for aggregate proceeds of $32.3 million.
As of August 21, 2014, the Company had approximately 33.4 million shares outstanding.
6. BOTTOM IS IN
http://stockcharts.com/c-sc/sc?s=NEWL&p=D&yr=0&mn=2&dy=0&i=t07383163264&r=1407859102004
7. ASSETS
Current assets
Cash and cash equivalents $ 2,271 $ 1,043
Restricted cash 8 - 1,311
Trade receivables, net 3,573 3,586
Other receivables 3,224 4,980
Due from related parties 10 5
Due from Joint Ventures 1,679 -
Inventories 288 81
Prepaid expenses 888 646
Deferred charges, net 12 489 573
Total current assets 12,422 12,225
Restricted cash 8 31 31
Investments in Joint Ventures 6 - 1,040
Advances for acquisition of coal property 5 21,855 11,000
Advances for vessel acquisition 10 22,747 -
Vessels and other fixed assets, net 10 35,067 37,503
Property equipement and mine development costs 11 10,051 -
Owned and leased mineral net of accumulated depletion rights, land and building 11 20,977 -
Goodwill 7 28,007 -
Other non-current assets 174 -
Total non-current assets 138,909 49,574
Total assets $ 151,331 $ 61,799
8.
LIABILITIES AND SHAREHOLDERS' DEFICIT
Current liabilities
Current portion of long-term debt 16 $ 60,306 $ 78,739
Accounts payable, trade 13 21,451 13,618
Accrued liabilities 14 15,173 10,660
Share settled debt 15 72,595 -
Convertible notes, net 17 101,651 62,552
Promissory notes payable 5 - 11,000
Derivative financial instruments 22 20,491 767
Due to related parties 34 90
Total current liabilities 291,701 177,426
Non-current liabilities
Asset retirement obligations 18 979 -
Total non-current liabilities 979 -
Total liabilities 292,680 177,426
9.
Our current limited coal operations include: (i) the rights to mine at the Viking Mine located in Pike, Floyd, and
Letcher Counties in Kentucky, with approximately 4,795 mineral acres, which rights were acquired in September 2013; (ii) a coal wash plant in located in
Pike County, Kentucky, which was acquired in December 2013; and (iii) three executive employees with extensive mining expertise that manage and supervise
the Company’s mining operations. In addition, in January 2014, we were granted access to develop and mine at the Five Mile Mine located in Breathitt County,
Kentucky, which represents approximately 7,695 mineral acres. We previously entered into an agreement to acquire title to the Five Mile Mine in 2012 which
was under default during 2013, however amounts due under the agreement have been added to the agreement between us and Hanover Holdings I LLC
agreement (“Hanover agreement”) (see also Item 5. Operating and Financial Review and Prospects-Recent Developments-Accounts Payable Settlement
(December 6, 2013), and during January 2014, required payments were made through Hanover agreement, and if the remaining payments are made pursuant
to the Hanover agreement, we anticipate that we will close that acquisition and acquire title to the Five Mile Mine by the end of 2014. We are also currently in
advanced negotiations to acquire approximately 1,900 mineral acres in Cumberland County, Kentucky, which is known as the Marrowbone Mine. The letter
of intent relating to the acquisition of the Marrowbone Mine had an exclusivity period that ran through March 31, 2014, although management continues to
negotiate for the acquisition of the Marrowbone Mine. We have not yet made the necessary payments to acquire title to the Five Mile Mine and have not yet
finalized the negotiations regarding the acquisition of the Marrowbone Mine and, as a result, these transactions have not yet closed. In addition to the properties
that we have acquired in Kentucky, we are in discussions for the acquisition of additional coal properties located in the United States.
Five Mile Mine
In December 2012, we entered into an agreement to purchase (i) the ownership and mineral rights to approximately 7,695 acres of land in Breathitt
County, Kentucky, which is referred to as the Five Mile Mine, and (ii) approximately 18,335 acres in Campbell and Scott Counties in Tennessee, which is
referred to as the Tennessee Property. As discussed more fully below, our agreement to acquire the Tennessee Property has terminated and is of no further force
or effect.
The Five Mile Mine encompasses at least nine seams. The mineable reserves we expect to mine are in the Hazard seven through eleven seams as well as
Skyline seams one through four. These seams are included in the areas between Howards Creek and Middle Fork on the east and west sides of the property
and Howards Creek to Lick Branch on the north and south sides of the property. Historically, these seams contain low to high quality bituminous steam coal
which has been mined from the Pre-Civil War era until the present. Available geological mapping from the United States Geological Survey (U.S.G.S.) shows
the site to be underlain by the Breathitt formation which consists of cyclic sequences of sandstone, shale, coals and fireclays.
The repayment schedule has been recommenced and, as a result, in January 2014, the Company was
granted access to develop and mine at the Five Mile Mine. The Company is continuing to pursue the acquisition of title to the Five Mile Mine and currently
anticipates that it will close that acquisition by the end of 2014.
Coal Sale Purchase Agreements (Purchase Agreements) As of December 31, 2013, New Lead JMEG LLC entered into two Sale Purchase Agreements with a third party to purchase from such third party thermal coal located in Kentucky, USA. The commencement period of the agreements, which were revised on March 17, 2013, is considered to be the first shipment of coal, which is expected to take place during the fourth quarter of 2014 or as otherwise agreed
Marrowbone Mine
We have entered into a letter of intent to acquire all of the issued and outstanding capital stock of a corporation that holds title and mineral evacuation
rights to approximately 1,900 mineral acres in Cumberland County, Kentucky, which is known as Marrowbone Mine. We are currently in advanced
negotiations relating to the acquisition of Marrowbone Mine. The letter of intent relating to the acquisition had an exclusivity period that ran through March 31,
2014, although management continues to negotiate for the acquisition of the marrowbone Mine.
Tennessee Property
We previously entered into an agreement to acquire ownership and leasehold interests, including rights, title, permits and leases to coal mines, to the
Tennessee Property. However, as we were not able to obtain the necessary financing to satisfy its payment obligations under the purchase agreement for the
Tennessee Property, we entered into an agreement, pursuant to which it was to be permitted to use the property through a one-year lease agreement. On June 7,
2013, due to a default under the lease agreement, we assigned all rights under the permits, mining contracts and other mining assets relating to the Tennessee
Property back to the seller. As a result of the default, our agreement to acquire the Tennessee Property terminated and is of no further force or effect. We may be
liable to the seller for damages or any amounts owed under the agreements; however, as of the date hereof, the seller has not initiated any actions against us
based on such defaults.
Rock Formations, Mineralization and Reserves
The properties in Kentucky also include natural gas wells and projects relating to extraction of timber, sand, gravel, fly ash and dimension stone. We
expect third parties to extract some of these commodities on the properties and pay royalties; however, we may decide to extract these commodities itself.
On September 22, 2014, NewLead Holdings Ltd. (the “Company”) announced that the “Newlead Castellano,” a 2013-built dry-bulk eco-type Handysize vessel of 35,542 dwt, was delivered to the Company’s fleet on September 16, 2014. The Newlead Castellano is trading on the spot market. The Company agreed to acquire this vessel for a purchase price of $19.5 million in December 2013, as previously announced. A copy of the press release is furnished as Exhibit 99.1 to this Report on Form 6-K and is incorporated herein by reference.
SIGNATURES
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.
Date: September 23, 2014
Delivery of the Third Eco-Type Handysize Vessel since January 2014
PIRAEUS, Greece, September 22, 2014 - NewLead Holdings Ltd. (OTC: NEWL) ("NewLead" or the "Company") announced today that the "Newlead Castellano", a 2013-built dry-bulk eco-type Handysize vessel of 35,542 dwt, was delivered to NewLead's owned fleet on September 16, 2014.
The Newlead Castellano is trading on the spot market and is expected to generate approximately $1.7 million EBITDA per year assuming $1.73 million yearly operating expenses.
The Newlead Castellano is the third modern eco-type Handysize vessel to be delivered to NewLead's owned fleet since January 2014. NewLead had agreed to acquire this vessel for a purchase price of $19.5 million in December 2013, as previously announced. The other two Handysize vessels, the Newlead Albion and the Newlead Venetico, both of which the Company had agreed to acquire in March 2014, for a total acquisition price of $37.0 million, were delivered on May 19, 2014 and July 25, 2014, respectively, as already announced.
Mr. Michael Zolotas, Chairman and Chief Executive Officer of NewLead, stated, “We are pleased to announce the delivery of the Newlead Castellano as scheduled. This is the third modern and fuel efficient vessel to be delivered to NewLead's fleet in less than a year. Today, NewLead's fleet is completely transformed and optimized. We have expanded our fleet by 85.7%, from two vessels to five vessels in less than one year. Today, we have a total fleet of eight vessels, including three tanker vessels under management. The average fleet age of our owned vessels is 8.53 years, reduced from 18.5 years at the beginning of this year."
Michael Zolotas, added, "We are accelerating the execution of our strategy to rebuild our fleet while focusing on younger vessels to ensure a longer revenue capacity through extended employment lifetime. We continue to capture on opportunities to grow our fleet to establish a strong platform ready to benefit from market and industry opportunities."
Fleet Update
The following table details NewLead's fleet as of September 22, 2014:
Vessel Name Size (dwts) Vessel Type Year Built
Dry Bulk Vessels
Newlead Castellano 35,542 Eco-type Handysize 2013
Newlead Albion 32,318 Eco-type Handysize 2012
Newlead Venetico 32,500 Eco-type Handysize 2012
Newlead Victoria 75,966 Panamax 2002
Newlead Markela 71,733 Panamax 1990
Tanker Vessels 1
Captain Nikolas I 5,887 Chemical Tanker/Asphalt Carrier 2009
M/T Sofia 2,888 Chemical Tanker/Asphalt Carrier 2008
Gema 19,831 Oil Tanker 2001
1. These vessels are under management by Newlead Shipping SA
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