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Here's my breakdown of what I believe current

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Millstone   Friday, 08/11/17 08:55:49 PM
Re: None
Post # of 55126 
Here's my breakdown of what I believe current value of vessels, cash on hand, debt, and shares outstanding after the private placement with Economou and shareholder placement will be:

Current shares outstanding PLUS Economou pp + shareholder raise:

31,547,436 (as of 8/4)
12,500,000 (estimate of shares "purchased" by Kalani from 8/5-8/11 period)
36,000,000 (shares to Economou in exchange for consideration of $100,000,000)
36,000,000 (shares to existing shareholders for $100 Million at $2.75/share)
_____________

Approx. 116 Million shares O/S

Value of vessels as of 7/21: $652.6 Million

+ Value of Heidmar 49% stake transferred to DRYS: $70 Million (guess based on consideration amount of $100 Million total from Economou).

Current Value of Vessels: $722,600,000

Cash on Hand: $58 Million (as of 7/21)

+ $25 million from Kalani between 8/4 and 8/11

+ $100 million from existing shareholders offering

Current cash on hand (after exchange/offering) = $183 Million


Debt of $237 Million (as of 7/21)

- 27 Million (Economou exchange)

Current debt (after exchange/offering) = $210 Million

Current book value after contemplated exchange/offerings:

$905,600,000 (vessels/companies/equipment plus cash)
- $210,000,000 (debt)

= $695,600,000

= $6.00 PER SHARE IN BOOK VALUE ALONE


Thoughts/comments welcome

Millstone



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