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Saturday, November 19, 2016 9:21:28 PM
$FREEF DD COMPILATION: READ ALL
$FREEF last sold a vessel for $1,925,000 at the end of September:
Sep 28, 2016
OTC Disclosure & News Service
Athens, Greece, Sept. 28, 2016 (GLOBE NEWSWIRE) -- FreeSeas Inc. (OTCQB: FREEF) (“FreeSeas” or the “Company”), a transporter of dry-bulk cargoes through the ownership and operation of two Handysize vessels and an owner of a controlling stake in a company commercially operating tankers, announced today that on September 26, 2016, it sold to unrelated third parties the M/V ‘Free Maverick’, a 1998-built, 23,994 dwt Handysize dry bulk carrier for a sale price of $1,925,000 and her mortgage was discharged.
Market cap right now is around 300 K dollars:
FREEF Security Details
Market Value1 $297,820 a/o Nov 18, 2016
Authorized Shares 274,324,324 a/o Nov 17, 2016
Outstanding Shares 212,728,216 a/o Nov 08, 2016
A couple months ago someone tried to buy the company out (way before all of the current hype) and the company immediately turn down the offer the day after. What that says is, in the past they have had an offer of a buyout but because of current valuation of assets they are looking for a much bigger offer.
And because shipping stocks are getting bought out currently and as we already know Havensight has set a lucrative over of .43 per share for the entire company (To be confirmed)
As of (11/17/2016) SEC filing confirmed an A/S of 274,324,324
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11694093
The following the vessels in their fleet as of April 23, 2015:
Vessel Name
M/V Nemorino - (Use to be the M/V Free Jupiter)
M/V Free Jupiter - The M/V Free Jupiter was sold for USD $12,250,000 to an unrelated third party and subsequently entered into a long term bareboat charter with the vessel’s new owners. The vessel has been renamed *Nemorino* and chartered by us for seven years at a rate of USD 5,325 per day on bareboat charter terms typical for this type of transaction which grant us the full commercial utilization of the vessel against payment of the charter rate to her owners. In addition, the terms of the charter afford a number of purchase options during its course. An amount of USD 3,750,000 was deposited by us as security for the fulfillment of the terms of the charter.
M/V Free Maverick - September 26, 2016 sold to unrelated third parties for a sale price of $1,925,000 and her mortgage was discharged.
M/V Free Neptune
M/V Free Hero
M/V Free Goddess - The M/V Free Goddess was hijacked by Somali pirates on February 7, 2012 while transiting the Indian Ocean eastbound. On October 11, 2012, we announced that all 21 crew members of the M/V Free Goddess were reported safe and well after the vessel’s release by the pirates. At the time of the hijacking, the vessel was on time charter in laden condition. Since the release from the pirates, the vessel has been laying at the port of Salalah, Oman, undertaking repairs funded mostly by insurers. The repairs of the vessel were completed, and notice of readiness was tendered to her Charterers for the resumption of the voyage. The Charterers repudiated the Charter and we accepted Charterers’ repudiation and terminated the fixture reserving our right to claim damages and other amounts due to us. The Tribunal previously constituted will hear our claim for (amongst others) unpaid hire and damages from the Charterers. In the meantime, cargo interests have commenced proceedings under the Bills of Lading although they have not yet particularized their claims. At the same time, all options are being explored for the commercial resolution of the situation arising from Charterers refusal to honor their obligations, including the further contribution by insurers and cargo interests towards the completion of the voyage and recovery of amounts due. The Company is working for a diligent solution in order to complete the voyage without further delays. In case no commercially reasonable solution may be found, the Company will explore its strategic alternatives with respect to this vessel.
Vessel Dry-Dock Periods:
M/V Free Goddess:
Currently Dry-Docked
Special Survey Dry-Docking
Next Intermediate Dry-Docking
Third quarter 2018
M/V Free Hero:
In Operation
Next Intermediate Dry-Docking
Third quarter 2018
M/V Nemorino:
In Operation
Next Special Survey Dry-Docking
Second quarter 2017
M/V Free Neptune:
Currently Dry-Docked
Intermediate Dry-Docking
Next Special Survey Dry-Docking
Third quarter 2019
ISM and ISPS certifications have been awarded to all of our vessels and to the Managers by either the vessel’s flag country or a member of the International Association of Classification Societies.
$FREEF last sold a vessel for $1,925,000 at the end of September:
Sep 28, 2016
OTC Disclosure & News Service
Athens, Greece, Sept. 28, 2016 (GLOBE NEWSWIRE) -- FreeSeas Inc. (OTCQB: FREEF) (“FreeSeas” or the “Company”), a transporter of dry-bulk cargoes through the ownership and operation of two Handysize vessels and an owner of a controlling stake in a company commercially operating tankers, announced today that on September 26, 2016, it sold to unrelated third parties the M/V ‘Free Maverick’, a 1998-built, 23,994 dwt Handysize dry bulk carrier for a sale price of $1,925,000 and her mortgage was discharged.
Market cap right now is around 300 K dollars:
FREEF Security Details
Market Value1 $297,820 a/o Nov 18, 2016
Authorized Shares 274,324,324 a/o Nov 17, 2016
Outstanding Shares 212,728,216 a/o Nov 08, 2016
A couple months ago someone tried to buy the company out (way before all of the current hype) and the company immediately turn down the offer the day after. What that says is, in the past they have had an offer of a buyout but because of current valuation of assets they are looking for a much bigger offer.
And because shipping stocks are getting bought out currently and as we already know Havensight has set a lucrative over of .43 per share for the entire company (To be confirmed)
As of (11/17/2016) SEC filing confirmed an A/S of 274,324,324
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11694093
The following the vessels in their fleet as of April 23, 2015:
Vessel Name
M/V Nemorino - (Use to be the M/V Free Jupiter)
M/V Free Jupiter - The M/V Free Jupiter was sold for USD $12,250,000 to an unrelated third party and subsequently entered into a long term bareboat charter with the vessel’s new owners. The vessel has been renamed *Nemorino* and chartered by us for seven years at a rate of USD 5,325 per day on bareboat charter terms typical for this type of transaction which grant us the full commercial utilization of the vessel against payment of the charter rate to her owners. In addition, the terms of the charter afford a number of purchase options during its course. An amount of USD 3,750,000 was deposited by us as security for the fulfillment of the terms of the charter.
M/V Free Maverick - September 26, 2016 sold to unrelated third parties for a sale price of $1,925,000 and her mortgage was discharged.
M/V Free Neptune
M/V Free Hero
M/V Free Goddess - The M/V Free Goddess was hijacked by Somali pirates on February 7, 2012 while transiting the Indian Ocean eastbound. On October 11, 2012, we announced that all 21 crew members of the M/V Free Goddess were reported safe and well after the vessel’s release by the pirates. At the time of the hijacking, the vessel was on time charter in laden condition. Since the release from the pirates, the vessel has been laying at the port of Salalah, Oman, undertaking repairs funded mostly by insurers. The repairs of the vessel were completed, and notice of readiness was tendered to her Charterers for the resumption of the voyage. The Charterers repudiated the Charter and we accepted Charterers’ repudiation and terminated the fixture reserving our right to claim damages and other amounts due to us. The Tribunal previously constituted will hear our claim for (amongst others) unpaid hire and damages from the Charterers. In the meantime, cargo interests have commenced proceedings under the Bills of Lading although they have not yet particularized their claims. At the same time, all options are being explored for the commercial resolution of the situation arising from Charterers refusal to honor their obligations, including the further contribution by insurers and cargo interests towards the completion of the voyage and recovery of amounts due. The Company is working for a diligent solution in order to complete the voyage without further delays. In case no commercially reasonable solution may be found, the Company will explore its strategic alternatives with respect to this vessel.
Vessel Dry-Dock Periods:
M/V Free Goddess:
Currently Dry-Docked
Special Survey Dry-Docking
Next Intermediate Dry-Docking
Third quarter 2018
M/V Free Hero:
In Operation
Next Intermediate Dry-Docking
Third quarter 2018
M/V Nemorino:
In Operation
Next Special Survey Dry-Docking
Second quarter 2017
M/V Free Neptune:
Currently Dry-Docked
Intermediate Dry-Docking
Next Special Survey Dry-Docking
Third quarter 2019
ISM and ISPS certifications have been awarded to all of our vessels and to the Managers by either the vessel’s flag country or a member of the International Association of Classification Societies.
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