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Gee, do I hope you're right are not?
No surprise that I.R. doesn't answer emails.
Really? What what was it?
I look at it a little differently. I think there us still $30 m left of the $200 m.
Amen to that!
Yes. We are not sure why they are so anxious.
Good luck to you (and to us all)
Getting to crunch time. Everyone's trying to time it just right: longs, shorts, Kalani, market makers.
Do you think there is an investor that will swallow the remaining shares when we get close to the end?
And that is being optimistic.
Nice volume (equal to 80 m presplit). I doubled my position at $5.50. BDI will be much higher in 2018, say many that are smarter than me.
Twosecure: I've read that several times and I am having a hard time figuring out if that $142.9 is before or after the $21.9 draw.
To buy the ships, they will have to use up their credit line $200m). How much above book value should it be at?
107,934,530 (to be exact). divided by 8 = 13,491,816.
Wrong: Take the time to read the latest PR o/s numbers and divide by 8.
Looks like someone just put their shoe in their mouth.
Keep up: There's 107 m o/s as if Friday.
Those numbers are always outdated, as those numbers you're looking at don't reflect the new shares being added daily to the outstanding share count via dilution.
If you're not on margin and not near death, consider holding until BDI is expected to notably improve in 2018.
Long and underwater, but hanging in there to see the next chapter. I will not sell when it is selling under net value.
$70.8 m left. When ships are paid, there will be NO cash or line of credit to buy anything else.
Why not? $300 m NAV time 4 (market valuation average)
To pay for the ships, they needed Kalani's $200 m, plus cash on hand, plus use up their revolver(balance available was around $70 million of the $200 m revolver). But they used $20 m of their revolver as the deposit on the first ship.(which I don't understand: why not use your cash?)
Well,the new ships paid for, but they will still have $200 million of debt.
What we don't know: Is there truly an investor that will take some or all of the remaining shares, thus surprising all that were trying to time the exact bottom?
They have enough cash and available credit to fully pay for 3 ships now.
Quite possible. I am thinking he might increase the line of credit for the ships and use the cash for something else (thus the reason for using the credit line instead of cash?). If he did it just for more interest, it confirms his scumbag status.
(Enjoy your posts).
According to Fairplay website article, Shell Oil has the contract on 2 of the new ships.
I guess you're not keeping up. The r/s happened. Effective Monday at open.
Looks like 25-30 m post-split shares when it's done.
A 40 million share trade day will now be 5 million. I think the pain will continue for 2 more weeks.
Didn't you think the dilution would end today?
Why use your line of credit (that charges interest) to put down $20 million on the ship, when there's cash? Something stinks.
Why would they use their line of credit as the deposit when they have cash?
Good question. There evidently aren't any rules to the number of times they can do it.
It is also "timely" how stocks run up in price just before a massive dilution announcement.Besides DRYS, NEOM and USXP come to mind. Yet where is the SEC during these situations?
In the filing dated 12-27-16, form 424b5, page s32, it states the investor nor any affiliates will short this stock.
On 1-13 they said there were 85 million shares, today they say 69?
Why would the shorts want to cover before the r/s?
Did anyone notice they used a lower share count than previous filing?