Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
It's extremely hard to fair value the spin-off shares.
It's only two dry bulk carriers so far but the float is super low. Many IMPP shareholders see this as free money and are simply taking profits as soon as the shares clear their account.
I suppose IMPP's share price is down because these two dry bolt carriers that were shifted into C3is's inventory, are no longer a creative towards Imperial Petroleum's revenue stream and profits. I do recall our CEO stating that the dry bolt carriers were pretty insignificant in relation to the cash being generated by our 10 other supermax vessels
We are so close to a double top breakout reversal through $4.50 that I can smell it
By now we have in excess of $80,000,000 - $100,000,000 in CASH, No creditors, ZERO debt, a net asset valuation in excess of $400,000,000 while generating in excess of $300,000 PER DAY in revenues...not to mention in our last quarter we made more money than our entire market cap is worth.
See you over $5 in short order. That's when we'll see the very beginning of a little short covering on our way to $8
I disagree 110%
We made more in the last quarter than our entire market cap
Nearly $3 million worth of stock traded today on decent volume.
We broke through resistance at $4.50 at one point
Not too shabby for a Friday
Just added 1K shares at $4.26
Can't wait for all the new names to show up here on this forum.
We are about to break out up through resistance and hopefully resistance will become new support leading us into the $5 range next week
Yes..and right now IMPP Is in fact trading over $4.50 per share.
Resistance has been breached
June 15 2023 - 05:00PM
GlobeNewswire Inc.
Alert
Print
Share On Facebook
Imperial Petroleum Inc. (Nasdaq: IMPP) (the “Company”), a ship-owning company providing petroleum products, crude oil, and drybulk seaborne transportation services, today announced a dividend of approximately $0.546875 per share on its 8.75% Series A Cumulative Redeemable Perpetual Preferred Stock (the “Series A Preferred Shares”), payable on June 30, 2023 to holders of record as of June 27, 2023. The dividend payment relates to the period from the last dividend payment date for the Series A Preferred Shares on March 30, 2023 through June 29, 2023.
There are 795,878 Series A Preferred Shares outstanding as of the date hereof. The Series A Preferred Shares trade on the Nasdaq Capital Market under the ticker symbol “IMPPP”.
About Imperial Petroleum Inc.
Imperial Petroleum Inc. is a ship-owning company providing petroleum products, crude oil and drybulk seaborne transportation services. The Company owns a total of twelve vessels; five M.R. product tankers, one Aframax oil tanker, two Suezmax tankers and four Handysize dry bulk carriers with a total capacity of 808,000 deadweight tons (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.
$4.50 is simple resistance and we should blow beyond that next week
Nice day today indeed.
Advancements followed by consolidation.
Making a series of higher highs and higher lows is what it's all about on an excellent chart setup
To purchase several more supermax tankers.
That is obvious.
What is also obvious is the statement our CEO made concerning raising Capital at such a low share price at the time. He admitted that it was not good timing.
But hey..
Guess what?
That damage has been done and now we have in excess of $80,000,000 in CASH, No creditors, ZERO debt, a net asset valuation in excess of $400,000,000 while generating in excess of $300,000 PER DAY in revenues...not to mention in our last quarter we made more money than our entire market cap is worth.
See you over $5 in short order. That's when we'll see the very beginning of a little short covering on our way to $8
Why would we need to dilute when we most likely have an excess of 100 million in cash, zero creditors, zero debt, 400 million in net asset valuation and churning revenues of $300,000 per day?
Stop making sense immediately!!!
You are basing this off of the verbiage of a seeking alpha author?
I listened to the earnings call with my own ears
IMPP has enough cash on hand and generating over $300,000 per day in revenues, ZERO creditors, ZERO debt and $400M in net asset valuation of which the shares are trading at an 80% discount to.
lol
Cash generating machine
See you over $5 shortly
I'm not certain what you are referencing but regardless what he intends on doing with the dry bulk carriers, has absolutely nothing to do with Imperial Petroleum's core business of petroleum product transportation via 10 SuperMax vessels.
I am not privy to how much cash we have on hand since the last earnings call but at the time I believe it was $60,000,000. And with revenues of $300,000/day since the earnings announcement, it's quite possible we have $80,000,000 - $100,000,000 in cash on hand to be utilized for further vessel acquisitions and expansion of the core business. Keep in mind that we have zero debt, no creditors and net asset valuation in excess of $400,000,000
That doesn't make much sense. The spin off only involves two dry bulk carriers which have not been accretive to Imperial petroleums revenue stream
$4.50 today and $5 this week
The IMPP chart certainly is looking a whole hell of a lot better over the past couple of weeks. Each day we are making higher lows and higher highs. When a chart goes from the lower left to the upper right after a long time stagnating and suffering due to dilution to raise money to purchase more tankers, it certainly is refreshing.
We have no debt whatsoever.
We have no reason to perform any additional Capital raises to raise cash to fund acquisitions.
By now we have in excess of 80 million to $90 million in free cash, a net asset valuation in excess of $400 million while maintaining revenues of $300,000 per day and growing
Such a low float due to the reverse split but unlike most reverse splits, this one is actually reversing trend and heading north
I can guarantee you that when this hits $5 this week,....well
ENOUGH SAID
$4.42 now and will most likely hit the $4.50 area today and $5 area this week or early of next
We"re $0.02 away from making a new day high
And that's perfectly fine. Kudos to everybody who's making a few hundred dollars here and there on it but I sincerely think we are going to be trading 50% - 100% higher than we are presently if inclined to hold for a month or two
$4.25 she got hit with a little profit taking by scalpers
We will retest those levels and head to $4.50 and then $5 but the real volume and covering will most likely begin
Chart breakout in progress through the $4.10 level
I've never seen a stock still undervalued based upon the numbers announced in our last earnings release.
By now we must have at least $80,000,000 - $90,000,000 in cash, over $400,000,000 in net asset valuation, making in excess of $300,000 per day in revenues, zero creditors to service with interest and ZERO debt
Spinoff of C3is provides each IMPP shareholder of record to receive one share of C3is for every eight shares of IMPP
YOU CAN'T ASK FOR A BETTER SETUP TO GET IN ON THE GROUND FLOOR OF A STOCK THAT IS GOING TO INCREASE EXPONENTIALLY FROM PRESENT LEVELS
$4.50 next week
When earnings hit, this will go up $2 a share
I wasn't around for any of that. The bottom line here is that for every eight shares of IMPP you are only getting one share of c3is which contains the two dry bulk carriers that have little to nothing to do with Imperial petroleums core operations and revenue generation of $300,000 per day
Decent volume today indeed. Institutions are loading and it appears as if we have a nice firm base as this chart stair steps from the lower left to the upper right
Please read
ATHENS, Greece, June 02, 2023 (GLOBE NEWSWIRE) -- Imperial Petroleum Inc. (Nasdaq: IMPP) (the “Company”), a ship-owning company providing petroleum products, crude oil and dry bulk seaborne transportation services, today announced that the record date for the spin-off distribution of shares of common stock (“common shares”) of C3is Inc., the newly formed subsidiary that will act as the holding company for two of its drybulk carriers, is June 13, 2023.
Stockholders and warrantholders of the Company will receive one C3is common share for every eight shares of Imperial Petroleum’s common stock (“Imperial Petroleum common stock”) owned, or in the case of holders of Imperial Petroleum’s outstanding Warrants that they have the right to purchase pursuant to Warrants owned, at the close of business on June 13, 2023 (the “Record Date”). The distribution is expected to be made on or about June 21, 2023 (the “Distribution Date”). Fractional common shares will not be distributed. Instead, the distribution agent will aggregate fractional common shares into whole shares, sell such whole shares in the open market at prevailing rates promptly after C3is common shares commence trading on the Nasdaq Capital Market, and distribute the net cash proceeds from the sales pro rata to each holder who would otherwise have been entitled to receive fractional common shares in the distribution. Shares of Imperial Petroleum common stock will trade with due bills from the Record Date through and including the Distribution Date. Accordingly, shareholders and warrantholders of the Company as of the Record Date must continuously hold such shares of Imperial Petroleum common stock and Imperial Petroleum’s Warrants through and including the Distribution Date in order to receive shares of C3is Inc. in the spin-off.
The spin-off transaction is expected to be completed on or around June 21, 2023, and remains subject to C3is Inc.’s registration statement on Form F-1 being declared effective by the U.S. Securities and Exchange Commission and the approval of the listing of C3is Inc.’s common shares on the Nasdaq Capital Market.
$IMPP we have a market cap of nearly $66 million dollars with $80 million in cash on hand and ZERO debt
We made more money in our last quarter than our entire market cap combined
We just caught a bid that's all
I've just been waiting for complete annhilation to occur prior to averaging down on my first average down
Added MULN for the first time in months @ 0.5181
It was nice to see us breech for dollars but I didn't sell a single share. I'm holding for the hedge funds to enter. I think once we maintain above $4 per share and then head through $5 per share, you're going to see a lot of short sellers begin covering
By now the company has in excess of $90 million in cash, $400 million in net asset valuation, zero creditors to pay back, zero debt and from the last earnings report we made more money in one quarter than the entire market cap of this stock.
I've never seen something so undervalued with a share structure like this post RS
$IMPP $4 this week and then maybe we get a little bit of shorts getting interested in starting to cover
Keep in mind, this company has made more money in one quarter then it's entire market cap is worth
$3.77 seems to be the new number to beat for today