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*****Ask the CEO or IMPPs IR firm !!! got luck getting an answer as they dont reply to inquiries
ENOUGH SAID
How is sale of 1 ship so negative for IMPP?
*****IMPP Inch worming our way southward
Back under 3 bucks - looks like the dead cat bounce is over - nothing happening here till next fin report
ENOUGH SAID
*****Imperial disaster IMPP now trading back in da teens pre split level
What a garbage stock
ENOUGH SAID
There is a bid of 46500 shares on 3.08
*****IMPP Inch worming our way southward
Back under 3 bucks ? - looks like da top is in here
ENOUGH SAID
Inch worming our way northward. I'll take it. $IMPP.
*****Sure ! thats why IMPP is trading 21 cents down at $2.85 -- all that institutional adding
SMH
ENOUGH SAID ? NA !
Someone dumped a ton which probably triggered some stops. Take a day or 2 to recover. I've seen a stock dump like this and take off with a vegenance screaming to new highs on massive volume the next day. . $IMPP
Big trap door at the close….800,000 shares were traded.
258,375 share trade at today’s low is a head scratcher.
Volume is increasing nicely
Institutions are adding to positions
***** 2 Weeks have passed since IMPP was suppose to hit 5 bucks - its almost 2 bucks away and slowly going the wrong way
Only time this garbage stock has a little life is when fins near - other than that its a stagnant turd and not even good enough for a quick flip
ENOUGH SAID
So impp is a buy
Imo humble of course
BTW bought nat yesterday at $3,63
Ever since GE appeared on the scene the Greeks have been obsessed with ripping off Americans because they know they don’t research anything and believe most everything told to them.
Easy greedy marks!
I don't know about smartest, but scandalously crafty, indeed.
Never forget that the Greek guys are usually the smartest ones in the rooms. It ain’t their first rodeo.
Hence why the stocks are so heavily discounted due to related party transactions both known and unknown.
*****IMPP Garbage down red again in pre market trading
ENOUGH SAID
I made $9,000 free dollars on CISS
IMPP IS FAR FROM GARBAGE
***** It has everything to do with DD and any new investors looking here - company is garbage and CEO is greedy and arrogant period
New investors needs to know this R/S recently and is pathetic PPS
CASE CLOSED
Why mention pre-split prices?
Why mention pre-split prices? That has nothing to do with anything.
IMPP is trading at $3.30 with easily $100+ million in cash, zero debt, zero creditors, in excess of $400M net asset valuation and no need to perform any type of capital raise
*****IMPP garbage now trading at 22 cents pre split levels - nuttin happening here
Tanker scam
ENOUGH SAID
IMPP steady as she goes.
CISS is an awesome intraday block scalper
It’s not MY hold.
All I did was post someone else’s article.
disagree on ur hold. we made 2.55 qrtr over $10 share and we trade 4 three . 3x is 30$
*****Looks like the IMPP dead cat bounce is over , back under 3 soon ???
ENOUGH SAID
Who cares about the time frame being exact on a stock price per share?
I banked hard on CISS and sold at the perfect time, took that $9,000 and have been loading IMPP at these basement bargain prices
See you all over $5-$8/share
Looks like da price of IMPP is +7% on the session
This is that Seeking Alpha opinion piece:
Following last week's spin-off of junior dry bulk shipper C3is, shares of both Imperial Petroleum and C3is have sold off.
Decline in Imperial Petroleum's common shares might be a result of spin-off traders exiting the stock.
In contrast, the massive sell-off in C3is appears related to a registration statement for a proposed equity and warrant offering filed with the SEC on Monday.
Offering has the potential to dilute existing C3is common shareholders by close to 80%.
Reiterating my "Hold" rating on Imperial Petroleum but assigning a "Sell" to C3is given the very real risk of substantial near-term dilution.
Since its late-2021 spin-off from StealthGas (GASS), Imperial Petroleum's strategy to pursue growth at the expense of common shareholders has resulted in outsized dilution.
Between January 2022 and March 2023, the company raised approximately $170 million in new capital, thus causing outstanding common shares to increase by more than 4,000%.
The company has used the funds to expand its fleet, with the majority of the vessels having been acquired from disclosed related parties associated with CEO Harry Vafias.
Following last week's spin-off of two Handysize dry bulk carriers into a new Nasdaq-listed entity named C3is Inc. or "C3is" (CISS), Imperial Petroleum commands a fleet of ten vessels with an estimated value of approximately $285 million:
The most recent related-party dealing looks particularly bad, in my opinion, with Imperial Petroleum overpaying by an estimated 15% for a pair of handysize dry bulk carriers and issuing $13.875 million in new Series C Cumulative Convertible Perpetual Preferred Stock as part of the purchase consideration:
The Series C Convertible Preferred Stock has a dividend rate of 5.00% per annum per $1,000 liquidation preference per share, which is payable in cash or additional shares of Series C Convertible Preferred Stock at the Company’s election, and is convertible, at the holder’s option, after the six-month anniversary of issuance into shares of the Company’s common stock at a conversion price equal to the lower of $0.50 and the ten-day volume weighted average price of the common stock.
Please note that the conversion option provides CEO Harry Vafias the chance to acquire a material part of the company going forward.
In recent months, the company has aggressively paid down debt "to utilize its excess cash amidst a positive market environment and shield its cash flow generation going forward against increasing finance costs".
As a result, total outstanding debt has been reduced from approximately $70 million at the beginning of the year to zero as of today.
While I would mostly attribute the losses in Imperial Petroleum's common shares to spin-off traders exiting positions, the massive sell-off in C3is' common shares is almost certainly related to a registration statement for a proposed equity and warrant offering filed with the SEC on Monday.
While there appear to be no-near term catalysts for Imperial Petroleum's common shares, I am reiterating my "Hold" rating based on management's recent promise to abstain from additional common shareholder dilution for the time being.
Income-oriented investors should continue considering the company's 8.75% Series A Preferred Shares (IMPPP) which currently offer a very safe double-digit yield.
At least when judging by Imperial Petroleum's course of action since its spin-off from StealthGas eighteen months ago, C3is Inc.'s proposed equity and warrant offering might be just the prelude for additional capital raises down the road.
Given the very real risk of massive near-term dilution, investors should avoid C3is' common shares or consider selling existing positions.
And guess what?
I took that $9,000 FREE money and bought more IMPP at bargain basement prices
*****What ??? CISS shares IMPPs spin off were not free period !!! One had to buy and hold IMPP to get the spin off -- anyone holding IMPP for months have lost huge money and da little bit recouped from selling CISS comes no where near breaking even on IMPP
WHOOPS !!!!
ENOUGH SAID
Harry stated in the last conference call that those two ships were not accretive to last quarters earnings so we didn't actually lose anything.
That's one of the main reasons why I sold CISS over $4/share as soon as my free shares cleared Ameritrade
Wow, hardly any posts for a whole day Friday! Tells us so much. Well, way over sold. Went down with $CISS. Nothing wrong with $IMPP, yet (whisper) Still a Cash Cow.. Lost revs from those 2 ships won't be noticeable. And what about those two other dry bulk ships Harry is hiding?
Smilin_B I hope you get it bro...been watching the action on this...hey I was also wanting to point out something for you to be aware of: https://investorshub.advfn.com/Cyxtera-Technologies-Inc-CYXTQ-42159
I'm in IMPP for the juicy trip over $7-$10
It’s behind a paywall but there is an article on IMPP today on Seeking Alpha Premium.
Pretty decent volume today for a Friday and the usual day trader mentality of exiting positions ahead of the weekend hit towards the latter part of the session.
Can't blame anyone from taking profits if you are block trading this stock.
These little 5-10% pops can certainly add up to substantial gains if your timing is on point.
I'm in IMPP for the juicy trip over $7-$10
Selling our FREE shares of CISS over $4/sh certainly was the right decision considering how low this offering was.
$1.05/share? Yikes
Looking quite nice for IMPP on a late Friday session +9%
IMPP +6% so far today
CISS -10% so far today
we should both email co about using that 8 to buy back ton of shares $$$$$$$$$$
CISS prices 4.9 million shares at $1.05.
About 55% of the money they were initially looking for just a few days ago.
*****NOPE ! -- 100% correct and spot on !!!
WHOOPS
ENOUGH SAID
100% false and misleading
Not too many shareholders believe this apparently
*****WHOOPS ! Wrong -- 100% right !!!
CISS is long gone period for IMPP
ENOUGH SAID
These Greek stocks are a real hoot.
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ABOUT IMPERIAL PETROLEUM INC.
Our Business Strategy
Our business strategy is focused on providing consistent stockholder returns by timing and structuring acquisitions of vessels and by reliably, safely and efficiently operating our vessels. We continuously evaluate purchase and sale opportunities, as well as employment opportunities for our vessels. Key elements of the above strategy are:
• | Renew and Expand our Fleet. We expect to grow our fleet in a disciplined manner through timely and selective acquisitions of quality vessels. We perform in-depth technical and condition assessment review of each potential acquisition and only purchase vessels as market opportunities present themselves. We focus on purchasing secondhand vessels, newbuildings or newbuilding resales based on the evaluation of each investment option at the time it is made. |
• | Optimize Charter Mix. In the current product tanker and crude oil tanker charter market, we are mainly focusing on short to medium term charters, including time and bareboat charters, of one or two years. As the charter market changes and we grow our fleet, we may continue to adjust our chartering strategy to include longer duration term charters or a higher percentage of spot market charters. We seek to |
ATHENS, Greece, May 27, 2022 (GLOBE NEWSWIRE) -- Imperial Petroleum Inc. (NASDAQ:IMPP) (the "Company") announced today that it has entered into an agreement to acquire two suezmax tankers, built at Hyundai Samho in 2007 and at Samsung Heavy Industries in 2008, with an aggregate capacity of approximately 320,000 dwt, from an unaffiliated third party for an aggregate purchase price of $46.8 million, with delivery expected by mid- June 2022. The Company expects to finance the purchase price with cash-on-hand and new senior secured bank debt. This transaction is indicative of the Company's substantial financial resources to consummate new vessel acquisitions due to its high level of available cash raised from its recently completed public offerings. This agreement is consistent with the company's plan to continue its fleet expansion.
ABOUT IMPERIAL PETROLEUM INC.
Imperial Petroleum Inc. is a ship-owning company providing petroleum product and crude oil seaborne transportation services. The Company owns four M.R. product tankers and one Aframax oil tanker with a total capacity of 305,804 deadweight tons (dwt) and has agreed to acquire one additional product tanker and two suezmax tankers with expected delivery by mid-June 2022. Following these deliveries Imperial Petroleum will own a total of eight tankers with an aggregate capacity of approximately 682,000 dwt. Imperial Petroleum Inc.'s shares of common stock and 8.75% Series A Cumulative Redeemable Perpetual Preferred Stock are listed on the Nasdaq Capital Market and trade under the symbols "IMPP" and "IMPPP", respectively.
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charter our vessels to high quality charterers as we have done in the past such as national and independent oil companies, energy traders and industrial companies. |
• | Operate a High Quality Fleet. Our primary focus is the operation of medium and large-sized product tankers and crude oil tankers, and as we grow our fleet in the future potentially add vessels in other seaborne transportation sectors that we assess as exhibiting favorable market conditions. We believe that owning a high quality fleet reduces operating costs, improves safety and provides us with a competitive advantage in securing favorable charters. We limit our acquisition of vessels to those that meet rigorous industry standards and that are capable of meeting the stringent certification requirements of major oil companies. We maintain the quality of our vessels by carrying out regular inspections, both while in port and at sea, and adopting a comprehensive maintenance program for each vessel. |
• | Maintain Financial Flexibility. We intend to use bank debt to partially fund our further vessel acquisitions and which we hope will increase financial returns for our stockholders. We intend to manage our balance sheet to maintain an adequate level of liquidity and actively assess the level and maturity profile of debt we incur in light of the level of cash flow generated from our chartering strategy and our efficient operating cost structure. We have moderate leverage which we believe will well position us to obtain additional financing and grow our fleet by pursuing selective acquisitions. |
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