C3is Inc (CISS)

[Smilin_B]

Pure genius

[Monksdream]

CISS new 52 week low

[Smilin_B]

Watching both $CISS and $IMPP move up over their resistance areas, is the equivalent of watching an oil painting dry underwater

[tigerpac]

Ciss trickles downhill….

[Smilin_B]

$CISS mentioned in $IMPP's Q2 Earnings Release

OPERATIONAL AND FINANCIAL HIGHLIGHTS FROM Q2 & 6 MONTHS 2024

Looks like $CISS (C3is) paid Imperial Petroleum the $39,000,000 owed from the sale/purchase of the aframax tanker Afrapearl II. This brings $IMPP's total cash on hand to nearly $190,000,000

[Smilin_B]

Not having a shareholder Q&A segment at the end of our earnings conference call, is and will continue to be the reason for distrust in management and the continued lackluster performance on the shares

[Smilin_B]

-6.2% on a stellar earnings report after trading sideways/down ahead of it.

Some things make zero sense

[Smilin_B]

$1.50's in the pm. Q2 earnings are out.

at 11:00 am ET, the company’s management will host a conference call to present the results and the company’s operations and outlook.

Slides and audio webcast:

There will also be a live and then archived webcast of the conference call, through the C3is Inc. website (www.c3is.pro).

Participants to the live webcast should register on the website approximately 10 minutes prior to the start of the webcast.

Please note that this will be a listen-only mode presentation.

[Smilin_B]

Nice percentage gain (7.35%) today on decent volume

Still no news whatsoever out of C3is or Imperial Petroleum

[Smilin_B]

Where is the news whereby C3is has paid Imperial Petroleum $39 million dollars for the afromax tanker they purchased last year that was due on the 14th of july?

[Chuxster]

Bought into this yesterday. Let's see how far this baby can go.

[Smilin_B]

It's pretty incredible the silent treatment that both $IMPP and $CISS investors are receiving from Vafias

Quite disturbing to say the least

[tigerpac]

I don’t think CISS would be the one who would do the PR. I’m actually surprised that IMPP hasn’t PR’d that as it supposedly increases their cash flow. IMPP had also collected an addition $70 million from the sale of two other Aframax tankers to the Chinese.

The problem here is that Imperial has acquired many of their vessels directly from the Vafias family at prices well above prevailing market rates (shareholders are essentially paying Harry the difference) and eventually selling them to new buyers where Harry (not Imperial) also gets the commission and back end perks.

Harry has been converting his Class C Preferred’s into common shares at the same time the company has been repurchasing shares and warrants.

The same scenarios hold true with Ciss. Harry gets his sure cut up front while investors have to ride the wave of uncertainty due to market conditions.

As long as it works for the Vafias family, they will continue to skim the cream off the top of Ciss and Impp (and likely Gass as well). Shareholders hold all the risk in these stocks.

[Smilin_B]

Wouldn't the $39 million dollar payoff payment to $IMPP have been a press event by now?

I see nothing whatsoever

[Smilin_B]

There was never a press release concerning the full payment for the afromax tanker purchased off of Imperial Petroleum last year. That payment was due on the 14th of July yet we received no news
..

[Stock Shakers]

When could be the next press release?

[Smilin_B]

So... Where is the news whereby C3is has paid Imperial Petroleum for the afromax tanker they purchased last year that was due on the 14th of july?

[Smilin_B]

Yes and today is the 15th

[tigerpac]

CISS had to pay IMPP $38.7 million by July 14, 2024 for the purchase of the Aframax tanker a year earlier.

[stockchaser64]

ciss showing signs of a big move up soon on charts. could see news about purchase of new ship next week. on watch

[stockchaser64]

CISS should be watch for news soon about a purchase of another ship for there company . we expect this news will be great for this stock when it happen for we see huge increase in revenues in late 2024.

[Smilin_B]

A different ship than the one Harry Vafias fleeced them on?

[stockchaser64]

CISS could be heading upward in coming weeks. we are hearing they will announce a new ship they bought soon. this company should see increase revenues going into late 2024 .

[tigerpac]

They need their present cash to make the $39 million payment to IMPP in July. Not enough money left over for a buyback at this time.

[stockchaser64]

CISS we are hearing may announce sometime this week of a major buyback stock plan . putting this stock on huge watch later this week

[tigerpac]

I think traders are losing interest in this ticker. Sub 1.40’s on the horizon imo.

[tigerpac]

Think one needs to wait until after they pay IMPP $39 million balance for Aframax tanker (in July) to see if they will plan on raising more cash thru private offerings.

[WizardAfterDark]

Just starting seeing this begin to trend a bit in my Stocktwits feed. People seem to be hyping up because of strong revenue numbers and institutional buying. Anyone else here still in long or in to make quick profit from it if it does, as new investors are assuming, skyrocket?

[Smilin_B]

It's just a matter of time before we head up over the 50 sma and stay above it.

$CISS

[Smilin_B]

We hit $1.97 or so in the pre market then crashed to $1.66 during the session prior to trading in the $1.80s

Chart setting up for a nice trend reversal.

Too many positives to post here and too difficult to post annotated charts using Ihub's mobile app. They need to get with the program

[Smilin_B]

This needs to be known by those who still believe that this company will dilute their shares, please look at these charts and filings. Fintel reported that before May, barely any institutions owned this stock, but during May the institutional ownership shot up by 16x and reaching 1.6 million shares which is 27.8% of all shares. These shares are also all longs which means they are in it for a profit.

https://fintel.io/so/us/ciss

Now if you thought that was impressive, check the SEC Edgar database under the SC 13G and SC 13D. In May alone, insiders also bought up over 3.3 million shares which is just over 48% of all shares.

https://www.sec.gov/edgar/browse/?CIK=1951067&owner=exclude

Now why would they dilute it any further and reduce the value of their own shares? I seriously do not understand the argument. They had a great earnings report and are confident in their own stock. Any dilution that may have happened was to purchase a new boat and bring in more profit.

People also bring up IMPP being a sister company because their CEO is involved in CISS but even IMPP has been rising steadily in market cap and price now despite not even having much institutional ownership. I believe most new companies go negative in the beginning and start rapidly increasing in value and profit after the initial funding. CISS should be following the same route and will hopefully regain the market cap and prices it once had.

[tavito]

Thanks for doing so

[tigerpac]

And naturally it closes towards the lows of the day.

[tigerpac]

The X posts are useless because it seems to be mostly bots . Same with Discord.

Chart looks good with higher highs and higher lows. Would like to see it close at HOD for run to continue imo.

[Smilin_B]

I added 5k@ $1.78 to the lots I own at $1.28 and $1.53

I'm seeing the bigger picture here... The macro view of what's coming over the very short term

$3+ minimum

Volume today is through the roof.

Unfortunately I don't even know why I'm posting here because there's nobody here..

[Smilin_B]

I think I'm going to average up on my position if this goes any lower than $1.80 today

It's amazing that I am the only one posting when elsewhere there are thousands of posts

The volume of posts on Ihub have really taken a hit

Sad

[Smilin_B]

Looks like we hit $2.20 in the pre market and have been bouncing from the $1.80s to the mid $1.90s on volume of 15.45 million shares thus far at 12:25pm est

I don't believe shorts have taken notice yet.

That won't happen until around $2.50 - $3.00 level as they are a very stubborn and greedy lot.

Looks like we make a push to that end in the earlier part of next week.

Good luck traders

[Smilin_B]

I believe we hit $1.91 in after hours prior to profit taking ensuing, driving the shares back down into the low $1.70's

Resistance is clearly $1.94'ish and I'm sure shorts will try to scare the bulls by putting up large orders on the offer at $2

Bulls will simply have to lift those offers and I'd imagine once that level is breached, shorts aren't really going to be scrambling to cover. There will be a grind back and forth probably approaching resistance at $2.30 and then perhaps a sell-off right back down to the $2 level prior to several days grinding sideways before another retest of $2.30 occurs. What is quite perplexing to me is that this stock should have gapped up and ran hard when earnings were announced pre-market. I sat in on the conference call which was around 11:00 a.m. I believe. It was absolutely amazing. I won't get into the particulars but I did post the transcripts of the call here. A replay is available on the corporate website. I would love to post a chart here that I annotated but it's just too much of a pain in the ass to post charts via the mobile app. It's almost impossible. You have to launch a separate web browser then login on a web browser then go to the gallery and then upload the picture and then copy and paste the code and then come back to the app and paste it here. I have no idea why this website is so antiquated for something so simple. In any event, I think it's going to take most likely several more sessions to breach the $2 level and this will most likely occur by Tuesday and perhaps a test of $2.30 by Wednesday. Not really anticipating the company dropping any news as they just laid it all out there on their q1 earnings report.

By every single metric, this stock is grossly oversold. We have plenty of cash to pay for the afromax tanker in July and we have a solid year to pay for the most recent acquisition, meanwhile we will most likely be pulling in nearly double the $5.6 million we pulled in, in Q4 alone. Can't believe we are still trading sub $2 with a market cap below $9.7 million dollars, a micro float, short interest over 45% and climbing, the reality that the majority of these warrants have already been converted and exercised based upon the average daily volume weave seen over the past several weeks. There simply is nothing holding the stock back other than naked shorts that are so stupid to beholding their positions for such a long time. We are definitely going to have a bull run on the stock and naked short covering is just going to fuel the fire. I could see us gapping up and running clear to over $3 per share on the day that happens.

Rest easy this weekend bulls. The tide has indeed turned...

[dragon_warrior]

Is the short squeeze finally starting?
If we open over $2 tomorrow shorts will feel the pain

[Smilin_B]

May 2025 is a solid year away and with did the addition of the new tanker, their quarterly revenues could potentially double to over $12M/qtr

We still have a market cap of less than $9.8 million dollars, trading sub $1.70/share.

By every metric anyone can throw at it, the shares themselves are extremely undervalued and with the short interest as elevated as it is, it's not going to take much but it break through the $2 - $2.50 level to cause some much needed squeezing.

I wish there was an easier way to post charts here instead of going through the antiquated system. This website needs to get with the times and be more like the twits site to make it easier to do so, especially through the mobile app.

[tigerpac]

I think the market’s concern is that after the $39 million payment for the Aframax in July, that will leave the company with probably less than $8 million (accounting for cash flow Apr-Jul) and it will be repeat, rinse, repeat in raising cash for the May 2025 payoff of the newly acquired ship thru another public offering.

[Smilin_B]

We believe that our capital structure comprising of no bank debt and a strong cash balance, currently at over $40 million, will further enhance our Company’s ability to fund selective vessel acquisitions following payments of the remaining purchase prices for our Aframax tanker and our handysize dry bulk carrier.
We also aim at diversifying our fleet so as to have more impact on long-term profits via re-weighting of exposure to different segments, thus allowing stronger segments to bolster weaker ones, and smoothing returns over time.

[Smilin_B]

I sold slightly higher than $1.80 in the pre-market session, before most trader brokerage accounts allow them to trade. My account allows me to trade from 4:00 a.m. while most brokerage accounts make you wait until 7:00 a.m. . In any event, I sold a partial position because I was not certain if we were going to Gap and run after earnings were announced. So I added the same amount of shares that I sold much higher, back in at $1.55 and $1.56. I listened to the earnings conference call and it was pretty amazing. Unfortunately there was no question and answer segment for whatever reason and I'm not sure if they're is any institutional coverage or interest at this time. I definitely was not expecting the share price to actually sell off down to the low $1.50s due to the elevated short interest but these shorts are extremely resilient. Insider purchases were filed a week or so ago to the tune of about 650,000 shares, indicating that insiders feel the share price simply drifted far too low.

Q1 earnings were stellar yet I have no plausible reason for why the shares or not reacting positively. I'm just going to assume that retail investors got a bit of ahead of themselves in purchasing in the $1.60s- $1.70s last week and even higher in the free market session this morning and they most likely stopped out out of pure frustration.

Their loss is my gain. As Q1 earnings news gets digested and disseminated over the course of the next several days, perhaps they will be renewed interest in the shares moving forward.

So yes, this will be another swing trade for me.

I'm in the middle of a couple of other trades so difficult to break down the numbers but I'm sure the post above should answer anyone's questions

[Smilin_B]

C3is Inc. reports Revenue of $12.8 million, Net Income of $3.8 million, and financial and operating results for the quarter ended March 31, 2024

May 28, 2024 09:20 ET| Source: C3is Inc.Follow

ATHENS, Greece, May 28, 2024 (GLOBE NEWSWIRE) -- C3is Inc. (Nasdaq: CISS) (the “Company”), a ship-owning company providing drybulk seaborne transportation services, and from the third quarter of 2023, tanker transportation services, announced today its unaudited financial and operating results for the first quarter ended March 31, 2024.

OPERATIONAL AND FINANCIAL HIGHLIGHTS

Our handysize dry bulk carriers are on time charters of short term durations, producing steady cash flows, while our Aframax tanker operates in the spot market where voyage charter rates for Aframax tankers are in excess of $40,000 per day.

All our handysize dry bulk carriers, and our Aframax tanker are unencumbered.

Fleet operational utilization of 93.4% for the three months ended March 31, 2024, as our vessels that operated under time charter employment had few commercial idle days.

Revenues of $12.8 million for the three months ended March 31, 2024, corresponding to a daily TCE1  of $36,480.

129% increase in daily TCE for the three months ended March 31, 2024, as compared to the three months ended March 31, 2023.

Our Company generated a Net Income of $3.8 million for the three months ended March 31, 2024.

404% increase in Net Income for the three months ended March 31, 2024, as compared to the three months ended March 31, 2023.

Our Company generated an EBITDA2 of $5.7 million for the three months ended March 31, 2024.

302% increase in EBITDA for the three months ended March 31, 2024, as compared to the three months ended March 31, 2023.

19% increase in Total Assets as of March 31, 2024 compared to December 31, 2023.

Basic and Diluted EPS for the first quarter of 2024 was $1.11.

Our Basic and Diluted EPS for the quarter annualized and compared to our current share price represent a price to earnings ratio of approximately 0.36.

During the first quarter of 2024, we concluded two follow-on equity offerings, generating aggregate net proceeds of $11.4 million which increased our cash balance, including time deposits, to $34.9 million.

In April 2024, our Company effected a reverse stock split of 1 for 100 of its common shares, aimed at meeting the minimum bid price requirement for maintaining listing on Nasdaq Capital Market, thus all share amounts have been retrospectively restated.

In April 2024, our Company announced an agreement to acquire a 2012-built Japanese handysize drybulk carrier from an affiliated company. Following this vessel acquisition and the delivery of the 33,664 DWT handysize drybulk carrier to our Company in May 2024, the total fleet capacity increased to 213,468 dwt. 10% of the purchase price was paid on delivery, with the remaining 90% due in April 2025.

First Quarter 2024 Results:

Voyage revenues for the three months ended March 31, 2024 amounted to $12.8 million, an increase of $9.6 million compared to revenues of $3.2 million for the three months ended March 31, 2023, primarily due to the revenues generated by our Aframax tanker acquired in July 2023. Total calendar days for our fleet were 273 and 180 days for the three months ended March 31, 2024 and 2023 respectively. Of the total calendar days in the first quarters of 2024 and 2023, 164, or 60.1% and 163 or 90.6%, were time charter days. Our fleet operational utilization was 93.4% and 90.6% for the three months ended March 31, 2024 and 2023.

Voyage expenses and vessels’ operating expenses for the three months ended March 31, 2024 were $2.8 million and $1.8 million respectively, compared to $0.3 million and $1.0 million respectively, for the three months ended March 31, 2023. The increases in both voyage expenses and vessels’ operating expenses are attributed to the increase in the average number of our vessels following the acquisition of our Aframax tanker in July 2023 which operates in the spot market. Voyage expenses for the three months ended March 31, 2024 and 2023 included bunkers cost of $1.8 million and $0.1 million, corresponding to 64.3% and 33.3% of total voyage expenses. Operating expenses for the three months ended March 31, 2024 and 2023 mainly included crew expenses of $0.9 million and $0.6 million, corresponding to 50.0% and 60.0% of total vessel operating expenses, spares and consumables costs of $0.4 million and $0.3 million, corresponding to 22.2% and 30.0% of total vessel operating expenses, and maintenance expenses of $0.2 million and $0.1 million, representing works and repairs on the vessels, corresponding to 11.1% and 10.0%, of total vessel operating expenses.              

Depreciation for the three months ended March 31, 2024 was $1.4 million, a $0.7 million increase from $0.7 million for the same period of last year, due to the increase in the average number of our vessels.

Management fees for the three months ended March 31, 2024 were $0.12 million, a $0.04 million increase from $0.08 million for the same period of last year, due to the increase in the average number of our vessels.

General and Administrative costs for the three months ended March 31, 2024 were $1.5 million and mainly related to expenses incurred relating to the two public offerings and the reverse stock split and expenses incurred as a result of operating as a separate public company. General and Administrative costs for the three months ended March 31, 2023 were $0.2 million.

Interest and finance costs for the three months ended March 31, 2024 were $0.8 million and mainly related to the accrued interest expense – related party as of March 31, 2024 in connection with the $38.7 million which is part of the acquisition price of our Aframax tanker Afrapearl II that is payable by July 2024.

Unrealized loss on warrants for the three months ended March 31, 2024 was $0.6 million and related to net fair value losses of our Class B-1 and B-2 Warrants and Class C-1 and C-2 warrants which were issued during the first quarter of 2024 in connection with the two public offerings and have been classified as liabilities.

As a result of the above, for the three months ended March 31, 2024, the Company reported a net income of $3.8 million.

EBITDA for the three months ended March 31, 2024 amounted to $5.7 million.

An average of 3.00 vessels were owned by the Company during the three months ended March 31, 2024.

CEO Dr. Diamantis Andriotis commented:

2024 started with an affluence of vigorous activities for C3is Inc. that will enable us to take advantage of acquisition opportunities as they arise.
Our remarkable financial results during the first quarter of 2024 highlight our ability to capitalize on the solid freight rate environment. Indicatively, we managed to achieve a fleetwide time charter equivalent rate of $36,480 per day. As a result, we reported an EBITDA of $5.7 million and a Net Income of $3.8 million, representing increases of 302% and 404% compared to the equivalent period of 2023.
During the first quarter of the year, our cash balance increased by 286% since 2023-year end levels. Our strong cash flow generation from our profitable vessel operations as well as the completion of two follow-on equity offerings, generating aggregate net proceeds of $11.4 million, enabled our Company to further expand its fleet.
Specifically, in May, we took delivery of our recently acquired 2012 Japanese built dry bulk carrier, the Eco Spitfire. Following our latest fleet addition, our total fleet capacity has increased by 234% since the Company’s inception less than a year ago.
Looking ahead, we believe that earnings momentum will remain generally favorable, prompting our continued focus on our fleet growth strategy.
We believe that our capital structure comprising of no bank debt and a strong cash balance, currently at over $40 million, will further enhance our Company’s ability to fund selective vessel acquisitions following payments of the remaining purchase prices for our Aframax tanker and our handysize dry bulk carrier.
We also aim at diversifying our fleet so as to have more impact on long-term profits via re-weighting of exposure to different segments, thus allowing stronger segments to bolster weaker ones, and smoothing returns over time.

Conference Call details:

On May 28, 2024, at 11:00 am ET, the company’s management will host a conference call to present the results and the company’s operations and outlook.

Slides and audio webcast:

There will also be a live and then archived webcast of the conference call, through C3is Inc. website (www.c3is.pro). Participants to the live webcast should register on the website approximately 10 minutes prior to the start of the webcast.

[tigerpac]

Good trade as I know you were buying in $1.25-1.45 area and likely sold above $1.80.

But I’m not even sure if you truly believe the stock can get past 2 if you were selling before that level?

“Got back in” means to me that you had “got out”.

I don’t believe in the Greek shipper way of conducting business. But I’m not trader so how they conduct business is really not any concern to you, you are just looking for volatility in the stock.

[Smilin_B]

Back in CISS $1.55 and $1.56 as RSI is near 20

Earnings CC was good

[Smilin_B]

$CISS hit $1.92 in the 4am pre market session and is presently $1.84

I'm expecting one hell of a breakout here for all the reasons previously stated

Let's see this and $IMPP squeeze up today

[Monksdream]

CISS 10Q expected 5/28

[Smilin_B]

C3is Inc. announces the date for the release of the first quarter 2024 financial and operating results

05/23/24 8:00 AM

ATHENS, Greece, May 23, 2024 (GLOBE NEWSWIRE) -- C3is Inc. (Nasdaq: CISS) (the “Company”), a ship-owning company providing seaborne transportation services, announced today that it will release its first quarter financial results for the period ended March 31, 2024 before the market opens in New York on May 28th, 2024.

On May 28th, 2024, at 11:00 am ET, the company’s management will host a conference call to present the results and the company’s operations and outlook.

Slides and audio webcast:

There will also be a live and then archived webcast of the conference call, through the C3is Inc. website (www.c3is.pro).

Participants to the live webcast should register on the website approximately 10 minutes prior to the start of the webcast.

Please note that this will be a listen-only mode presentation.

ABOUT C3is Inc.

C3is Inc. is a ship-owning company providing seaborne transportation services to dry bulk and tanker charterers, including major national and private industrial users, commodity producers and traders.

As at the end of Q1 2024, the Company owned two Handysize dry bulk carriers and an Aframax oil tanker with a total capacity of 179,800 deadweight tons (dwt).

In April 2024, the Company entered into an agreement to acquire a bulk carrier, due to be delivered in Q2 2024. Following this latest acquisition, the total fleet capacity will be 213,464 dwt.

C3is Inc.’s shares of common stock are listed on the Nasdaq Capital Market and trade under the symbol “CISS”.

Company Contact:

Nina Pyndiah

Chief Financial Officer

C3is Inc.

00-30-210-6250-001

E-mail: [e-mail] 

[tigerpac]

I doubt if the tanker is worth as much as they paid for it and it’s a depreciable asset as well.

IMPP is likely the bigger winner on the transaction, although Harry is by far the biggest winner since he scalps from both sides of the transaction.