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It happens man,sorry to hear that.With so many companies and numerous filings everyday,one has to be on his game.Good luck and good trading.
Thanks for the info. Lost big on this--didn't pick up on Nasdaq notice to Ciss of deficiency last August. Time ran out. Ouchie !
Won't hold 3 dollars for long,post split.Good luck and good trading.
Next numbers will look good when this drops to 10 cents after the RS.That is when they increase the share count again for even more dilution.Good luck and good trading.
It is what the Greek shippers do to artificially inflate their pps. Boats float but this sht stinks damn dirty olive oil people.
There you have it,a 100/1 RS.Yet another dagger to the heart.This year alone there has been over 200 RS,most in the 100/1 to 150/1 range.We are only mid way through April,WOW.There is no end in sight and no help for the common shareholder.Good luck and good trading.
this is so under valued, even as a shipping stock, it's way too low. They had a great earnings quarter as well. As volume tapers off, the shakeout is nearing an end --as I see it.
Come on 35 million dollars cash market cap 6.7 million dollars extremely under valued
This should be at least 8 cents per forma.It will drift back down to 2.5 cents before going back up.Good luck and good trading.
Most shipping companies trade at about 20% of there NAV because of huge amounts owed to pay off purchase of the vessels. In CISS case, they pay Harry V, the owner of sister companies IMPP and GASS. He and his family are making the most money at the shareholders expense. Of course he hopes someone pumps this up to the stratosphere so he can do another public offering.
CISS~100 MILLION VOLUMe 30 CENTS SHARE PRICE POSSIBLE., 35 MILLION DOLLARS CASH NO DEBT
If you truly understand the financials then you would know why the stock is trading for less than a nickel.
CISS imazing financials, monster 35 dollars cash no debt...
$CISS trading at 0.04
— TheBull (@TheBull_Stocks) March 27, 2024
Based on the current fleet market value, our Company’s net asset value is estimated at $50.45 million3, or $0.31 per share, which represents approximately 10.3x our current market capitalization.https://t.co/lxbWDBoGtP pic.twitter.com/MgkLa2Z6jN
This was a really nice swing trade.
I'm my case from $0.0301 to $0.0455 today
I just don't trust this shipper's management team and expect another RS to get it over the $.10 and $1 minimum bid required by NASDAQ
Very active on the forums. I have provided quite a bit of DD as well. Thank you for yours.
This company's capital structure comprises of no bank debt and a strong cash balance standing at $35.6M. This company also concluded 2 equity offerings in Q1 2024 with a gross proceeds of $13M.
Currently, the stock sits at <$0.05/share. Diluted EPS for the fourth quarter of 2023 was $0.25, which is 733% higher than the Company’s stock price as of March 22, 2024. Based on the current fleet market value, the Company’s net asset value is estimated at $50.45 million, or $0.31 per share, which represents approximately 10.3x our current market capitalization.
I see a preliminary target price of $0.25/share (+500%) which is still lower than their net asset intrinsic value (NAV). I will study where other dry bulk carrier companies like when it comes to multiples vs. earnings per share.
CISS: Likely the hands-down winner of this day --- and at a SHOCKINGLY-low price, to boot
$CISS EARNINGS OUT AND STOCK UP
@Trader_Burned @Beefymcwhatnow_
$IMPP spun off $CISS and $CISS was trading in the $5 range and then it started heading south. Most $IMPP shareholders received the spin-off shares and the intelligent ones sold within the first 24-48 hours of $CISS publicly trading. I got out slightly over $4 so to be back in slightly under $0.03/share especially when the latest round of finances received their shares at $0.05 with warrants that are not exercisable until the stock hits $0.075. Coupled with the fact that $IMPP still holds an approximate 75% of the shares outstanding - appears to make this stock a no-brainer. What really boggles my mind is how can we have already violated the terms of our previous 180 day NASDAQ extension simply by trading below $0.10/share for 10 days? Where was that ever mentioned in the previous threat to delist? And why the hell with the NASDAQ have $CISS ring the opening bell this past Monday when they are threatening to delist us?
$CISS C3is Inc. Announces Closing of $6.0 Million Underwritten Public Offering
https://www.globenewswire.com/news-release/2024/03/19/2848840/0/en/C3is-Inc-Announces-Closing-of-6-0-Million-Underwritten-Public-Offering.html
379,000 share block trade after hours (sell) amongst many other smaller block trades. My feeling is this stock price will continue to trend down towards 2 cents in the coming days.
We need RS or apeal news by Friday And Monday run or Friday
After offering and assuming underwriter exercises his overallotment, OS increases from 42 million to 182 million shares.
Company has already approved a reverse split if it does not meet Nasdaq compliance on price (6 mo extension just granted).
R/S ranges from 1:2 to 1:500.
AS remains at 2 billion. Lots of preferred stock that can be converted to common.
All this to pay Harry’s other company , IMPP.
I will get some more here at this level. she may run up to $0.05 this week. hoping that 0.08 popped.
EDGX STACKING ASK WITH ARCA BIDDING
CISS ARCA BOXING HERE...IS THAT .076 PROGRAMMED INTO THE ALGO PROGRAM
That's the way I see it too.
You know they will try to get this over a nickel. So anything bought today should be a double
Could be a good lotto
C3is Inc. receives a delisting notice from Nasdaq due to its common stock trading below $0.10 for ten consecutive days. The company appeals the decision and will continue trading under the symbol 'CISS' during the appeal process.
"In response, the Company is appealing the Nasdaq Staff Determination by requesting a hearing before a Nasdaq Hearings Panel, in accordance with Nasdaq Listing Rule 5800 Series procedures. The appeal initiates a stay on the delisting of the Company’s common stock until the Nasdaq Hearing Panel’s decision, with hearings are typically scheduled 30-45 days after the hearing request. Throughout this process, the Company’s common stock will continue trading on the Nasdaq Capital Market under the symbol “CISS.”
The offering consists of 120,000,000 Common Units or Pre-funded Units, each consisting of one share of common stock (“Common Share”) or Pre-Funded Warrant, one half of a Class C-1 Warrant to purchase one Common Share at an exercise price of $0.075 per share (or 150% of the price of each Common Unit sold in the offering
Half that...........
Z
Priced at a nickel weeeeee crash, burn, over
$CISS Unbelievable.....120M offering....Jesus F*ck..........
Z
Well it looks like $CISS finally broke out underneath the nice support channel that was forming in the $0.09 area
What a shame for all shareholders that had faith in this company the ability to turn it around after their last capital raise.
I will be watching this one on a daily basis but so far, chart-wise, I just don't see a reason to enter the trade
I still haven't taken a position here. I just don't see a reason to unless we have an outside day on relatively high volume. I don't mind paying up for the shares if I see a decent candle on volume. Otherwise, it's just going to trend sideways to down until a couple of whales come in here to run it
We intend to use the net proceeds from the sale of the securities offered by this prospectus for capital expenditures, including for payment towards the $38.7 million remaining purchase price for the Aframax tanker we acquired in July 2023.
======
Because they are “making so much money for shareholders” from the underlying business they have to go to market to raise additional funds so they can make the payment for the Aframax tanker. Is that tanker Harry sold to them?
Greek shippers continue to prey upon American investors. Bait and switch.
not looking good atm,shares to short did drop to zero,back up a bit now(100k) watching for zero borrow again like last time,its the only way this moves
I wonder at what type of a discount to market price are these investors going to be receiving their shares at.
We're almost trading at $0.09/share yet received the 180 day NASDAQ listing extension.
I believe IMPP owns like 67% of $CISS shares.
I also thought about starting a position here but every single day it just seems to drift lower and lower, so why watch paper losses increase when you could just step aside and wait for it the tide to turn?
Our Common Shares are listed on the Nasdaq Capital Market (“Nasdaq”) and began trading (regular way) on June 22, 2023 under the symbol “CISS”. On February 22, 2024, the closing sale price as reported on Nasdaq of the Common Shares was $0.12 per share. The public offering price of the Units will be determined between us and investors based on market conditions at the time of pricing, and may be at a discount to the then current market price of our Common Shares. The assumed public offering price and related Class C-1 Warrant and Class C-2 Warrant exercise prices used throughout this prospectus may not be indicative of the actual public offering price. The actual public offering price may be based upon a number of factors, including our history and our prospects, the industry in which we operate, our past and present operating results, the previous experience of our executive officers and the general condition of the securities markets at the time of this offering. There is no established trading market for the pre-funded warrants, Class C-1 Warrants, or Class C-2 Warrants and we do not expect an active trading market to develop. We do not intend to list the pre-funded warrants, Class C-1 Warrants, or Class C-2 Warrants on any securities exchange or other trading market. Without an active trading market, the liquidity of these securities will be limited.
typical garbage scam,thats why its at .10,it might be good to flip if could buy .09 and sell .12ish ,30% would be good trade
$CISS just did a $7 million dollar private offering in January and now this on Feb 23rd.
Why isn't this news listed in the news section of ihub?
Back to back offerings within 30 days - wtf?
Feb 23 (Reuters) - C3is Inc:
* C3IS INC FILES FOR OFFERING OF 58.4 MILLION UNITS- SEC FILING
yea,the public offerings are killing it,shares are being loaned out to short also(1m ava. every 15 min.) until those are gone this is in trouble
C3is Inc. Granted 180-Day Extension by Nasdaq to Regain Compliance With Minimum Bid Price Rule
Despite this seemingly positive news, the stock continues to sell down.
Not certain if there are fears of a reverse split but at least they were granted an extension.
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