Top Ships Inc (TOPS)

[TaxiCaT]

Boom!

[Suds Mackenzie]

Big day. $3+ tomorrow?

[TaxiCaT]

And now it's blowing

[pay streak]

2.62 breakthrough by eod

[Suds Mackenzie]

6 month and full year financials by end of Feb...hopefully.

[pay streak]

Been moving steadily up without any news

[Suds Mackenzie]

Net Asset Value Management estimates the company’s NAV to be $180 million. This translates into an NAV of $4.52 per share (based on number of common shares currently outstanding) and $3.55 per share (on a fully diluted basis - assuming exercise of Series B warrants and conversion of convertible loan).

[Suds Mackenzie]

https://www.sec.gov/Archives/edgar/data/1296484/000121390021005161/ea134095-13ga2intra_topships.htm

[Suds Mackenzie]

https://www.sec.gov/Archives/edgar/data/1296484/000153561021000072/tops0121.txt

[Suds Mackenzie]

ATHENS, Greece, Aug. 20, 2020 (GLOBE NEWSWIRE) -- TOP Ships Inc. (Nasdaq:TOPS) (the “Company” or “TOPS”) announced today that the Company has been advised that a company affiliated with its Chief Executive Officer, Evangelos Pistiolis, has today purchased an aggregate of 100,000 common shares of the Company in the open market.

In addition, the Company announced that for a period of 12 months following the date of this release:

(i) it will not conduct any equity offerings, public or private;

(ii) it will not conduct any reverse stock splits;

(iii) it will not pay any bonuses to its executive management; and

(iv) it will enter into a standstill agreement with Family Trading Inc., the holder of all of the Company’s outstanding Series E Preferred Shares and a company affiliated with its CEO, pursuant to which Family Trading will agree not to convert any of its Series E Preferred Shares into common shares, other than in connection with a change of control of the Company.

(v) CEO and his affiliates will not sell any shares.

The Company believes that the above actions will significantly enhance the trading stability of its common shares during the next 12 months.

Finally, the Company announced that it is proceeding with implementing its previously announced stock repurchase plan.

Mr. Pistiolis commented, “I believe that the current trading price of our common shares does not reflect the intrinsic value of the Company, as evidenced by my purchase today of 100,000 common shares in the open market, and that the actions we have taken today will benefit all shareholders.”

[Suds Mackenzie]

It will be interesting to know if the Buyback actually happened and if so, how much was spent on it.

ATHENS, Greece, Aug. 17, 2020 (GLOBE NEWSWIRE) -- TOP Ships Inc. (NASDAQ: TOPS) (the “Company”) today announced a share repurchase program and fleet update.

Share Repurchase Program

The Company’s Board of Directors (the “Board”) today authorized a share repurchase program under which the Company may repurchase up to $5.1m of its outstanding common shares, representing approximately 10% of the Company’s market capitalization as of August 14, 2020, for a period of three months (the “Repurchase Program”). The Board will periodically review the Company’s Repurchase Program, and may decide to extend its term or increase the authorized amount, by another 10% to 15%, that may be repurchased thereunder.

Under the Repurchase Program, the Company may repurchase common shares in privately negotiated or open-market transactions in accordance with applicable securities laws and regulations, including Rule 10b-18 of the Securities Exchange Act of 1934, as amended, and pursuant to a trading plan adopted in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934.

The specific timing and amount of repurchases, if any, will be at the discretion of the Company’s management team, and will depend upon a variety of factors, including market conditions, regulatory requirements, capital allocation alternatives, and other corporate considerations. The Company is not obligated under the program to purchase any common shares. The repurchase program may be suspended or discontinued at any time.

Fleet Update

Fleet Profile As of August 17, 2020, our fleet consisted of ten 50,000 dwt product/chemical tankers, out of which 2 are owned 50%, and two 159,000 dwt suezmax tankers. We also have newbuilding contracts for the construction of three scrubber-fitted 50,000 dwt product/chemical tankers and, and two scrubber-fitted suezmax tankers. Our newbuilding vessels are expected to be delivered to us during the first half of 2021. Following the delivery of our last newbuilding, our fleet will consist of 15 vessels with an average age of 2.3 years (with 2 vessels 50% owned).

All of our vessels are of eco design and are built in shipyards of the Hyundai group, currently the largest shipbuilder in the world. In addition, all of the vessels in our fleet, including our newbuildings, are of very high specification and include enhancements in the hull, propellers and other parts of the vessel to decrease fuel consumption and reduce emissions. Furthermore, all of our vessels are fitted with ballast water treatment equipment and seven of our operating vessels have scrubbers installed and all of our newbuildings will be fitted with scrubbers.

Charter Coverage As of June 30, 2020, all of the vessels in our fleet (including newbuilding vessels but excluding joint venture vessels) are employed on time charters with fixed terms, representing contracted future revenue of $273m excluding options to extend. Our customers include national, regional and international companies.

Net Asset Value Management estimates the company’s NAV to be $180 million. This translates into an NAV of $4.52 per share (based on number of common shares currently outstanding) and $3.55 per share (on a fully diluted basis - assuming exercise of Series B warrants and conversion of convertible loan).

[TaxiCaT]

TOPS about to blow !!!!

[pay streak]

Hope that 2.10 wall get plowed through today

[GolfFishSurf]

Gracias compa! It could run up there $3+, but as you know, it can run down even faster right after. Stay well and buena suerte!!!

[TaxiCaT]

Squeeze Today?

[maestro_of_Ihub]

If GME can go up 2000% this should go up $20,000! I am not selling a single share under $5, and all the way up to $50 just in case!

[pay streak]

Some pre mkt loading going on this morn

[jpowellvlc]

there is a gap on the 3.30 . i think tops will fill it. the macd is now in positive, last time was october 2018.
here is the chart, looks well for a bounce
https://subefotos.com/ver/?47fc51a30d01dcc37189b883364aee43o.png
but we know how is tops.

[GolfFishSurf]

Glad to hear you are well. Yeah, TOPS is a dangerous ride, for sure. Rough sailing for many years now.... hopefully this year there will be no more shenanigans and no more dilution.......

[jpowellvlc]

Hello friend! How are you? No. I Am now I'm visl ,acst and criptos . I leave tops forever. Dislike this stock.i wish you a lot of luck.

[TaxiCaT]

Green close? Squeeze tomorrow?

[GolfFishSurf]

Hello 'ol friend. How goes it? Have you been following TOPS at all lately? Have you made any moves?

[zeusgodmd]

It has ran fast in the past maybe they have reverse split it to really run.

[weedtrader420]

TOPS$ could be a $50 stock easy

[kingsransome]

i was in that drys run,and also when they r/s the shitz outta it,,made $$ lost $$,,hope this is different for tops and #ship,g/l to all

[zeusgodmd]

I think tops had a better run to 60$ then started screwing share holders

[GolfFishSurf]

I don't thin we will see a "DRYS 2016" type run here......

[kingsransome]

$8+++ $$$$$ MHOP

[zeusgodmd]

Trying to keep ahead of the computers can be hard

[zeusgodmd]

All it takes is 5 minutes

[pay streak]

Huge move coming

[zeusgodmd]

I like what I am seeing

[TaxiCaT]

Moving!

[Triple nickle]

Same crap as yesterday some platforms are stuck

[pay streak]

Over 2 bucks pre mkt, bring on the squeeze

[zeusgodmd]

Maybe this one heavy shorted a we get a good old run up like in the past

[GolfFishSurf]

And now it's back down to the mid $1's. So a quick run to $2 and then the dump back down. No news.... this will probably fizzle down even more again.

[Tom turtles]

Who would've thunk it ?

[TaxiCaT]

Hit $2.00 - target has moved up now

[weedtrader420]

TOPS short squeeze $5 TARGET price WOOHOOOOOOOOOOOOOOO

[Suds Mackenzie]

Stock buyback ongoing!

[M-invest]

Post R/S proceeding $ 3.00 imo

[pay streak]

Anyone still here?

[kingsransome]

yup,,$8 again would be nice

[pay streak]

Volume picking up, the pumpers will follow

[pay streak]

1.70 range on weekly has been tested multiple times since August, and will break this time to the ema20, plus no dilution or rs for one year

[GolfFishSurf]

What factors/indicators signal a rise over $2 soon? This has been bouncing between $1.35 and $1.65 for quite a while now.....

[pay streak]

Over 2 bucks soon...load it

[Broke as hell]

think i might blind eye and load this sucker up...

[pay streak]

Potential short squeeze?