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The Company had 143,572,689 common shares outstanding as of March 15,2017. Sure have to make a lot of $$$$ to raise stock abouve $2.00 per share
KALANI PUMP & DUMP!! $200m @ $1.68 AVE. ANY MOVEMENT ABOUVE $2.68 EQUALS $200M GAIN. WHY WOULD THEY HOLD? WHY WOULD ANY OF YOU THINK DRYS WAS GOING TO EXPLODE UPWARDS?? FOOLS BET!
Investors: Well worth the read!
www.hellenicshippingnews.com/dryships-inc-s-buying-binge-making-it-great-again-or-diworsification/
Two real traders so far plus me! 10,000+ shares seems like a real trader. The rest seem to be penny stock chasers based on the foolish comments with a few hundred invested. Real traders trade on facts not wishes!!
Any "posters" own more than 1,000 shares of DRYS?
Shorts still in control!“DryShips Inc. (DRYS) Short Interest Up 431.1% DryShips Inc. (NASDAQ:DRYS) was the target of a significant growth in short interest in February. As of February 15th, there was short interest totalling 6,972,376 shares, a growth of 431.1% from the January 31st total of 1,312,923 shares. Approximately 51.7% of the company’s stock are short sold. Based on an average daily volume of 27,090,416 shares, the days-to-cover ratio is currently 0.3 days.
DryShips (NASDAQ:DRYS) opened at 1.27 on Wednesday. The firm has a 50-day moving average of $4.22 and a 200-day moving average of $47.86. The company’s market capitalization is $1.98 million. DryShips has a one year low of $1.25 and a one year high of $2,227.20.
Separately, Vetr upgraded shares of DryShips from a “buy” rating to a “strong-buy” rating and set a $5.41 target price for the company in a report on Wednesday, February 1st.
Buy for 83.5M, Lease for 56m and have another company that GE owns, operate the ships. Where is stockholder value? What a sham and scam! Unfortunetly I got "sucked" into the greed factor like so many of us thinking this was a ligitimate company
Kalani has bought 67,441,201 Shares @ $1.93 ave. $70M left to go! Between the date of the Purchase Agreement, February 17, 2017, and March 3, 2017, the Company has sold an aggregate 67,441,201 Shares to the Investor at an average price of approximately $1.93 per share. The aggregate gross purchase price for these Shares was $130.0 million. The Company's estimated aggregate net proceeds from the sale of these Shares is approximately $128.7 million, after deducting estimated aggregate offering expenses. Following the settlement for all of such Shares sold as of the date hereof, the Company will have a total of 103,974,393 shares of common stock outstanding. As of the date hereof, up to $70.0 million of the Shares is remaining that the Company may sell pursuant to the Purchase Agreement.
Chartsa, YOU ARE RIGHT!!! Read all the other shares and grants enclosed! reverse splits have reduced to 36M available so stock is flipping almost 100% daily.
Common stock useless!!!
DESCRIPTION OF CAPITAL STOCK
For purposes of the description of the Company's capital stock below, references to "us," "we" and "our" refer only to DryShips Inc. and not any of our subsidiaries. Please see our amended and restated articles of incorporation and bylaws, copies of which are exhibits to our most recent Annual Report on Form 20-F incorporated by reference herein.
Authorized and Outstanding Capital Stock
Under our Amended and Restated Articles of Incorporation, our authorized capital stock consists of 1,000,000,000 shares of common stock, par value $0.01 per share, of which 669,964,321 shares (including treasury stock) are issued and outstanding as of March 2, 2015and 500,000,000 shares of preferred stock, par value $0.01 per share, of which 100,000,000 shares have been designated as Series A Convertible Preferred Stock and 10,000,000 as Series A Participating Preferred Stock, and no shares are issued and outstanding as of March 2, 2015. All of our shares of stock are in registered form.
Share History
On August 20, 2013, our compensation committee approved that a bonus in the form of 1,000,000 shares of our common stock be granted to Fabiana Services S.A., or Fabiana, a related party, for the contribution of Mr. George Economou for Chief Executive Officer's services rendered during 2012. The shares vest over a period of two years with 333,334 shares vesting on August 20, 2013, 333,333 shares vesting on August 20, 2014 and 333,333 vesting on August 20, 2015.
On October 4, 2013, we filed a prospectus supplement to the universal shelf registration statement on Form F-3 filed on August 30, 2013, pursuant to an at-the-market offering for up to $200 million of our common shares. In connection with the offering, we entered into a Sales Agreement with Evercore Group LLC, or Evercore, the sales agent, dated October 4, 2013. During 2013, 6,892,233 common shares were issued and sold pursuant to the at-the-market offering, resulting in net proceeds of $23.7 million, after deducting commissions, while in 2014, 22,209,844 common shares were issued and sold pursuant to the at-the-market offering, resulting in net proceeds of $90.0 million, after deducting commissions.
On August 19, 2014, our compensation committee approved that a bonus in the form of 1,200,000 shares of our common stock be granted to Fabiana for the contribution of Mr. George Economou for Chief Executive Officer's services rendered during 2013. The shares vest over a period of three years with 400,000 shares vesting on December 31, 2014, 400,000 shares vesting on December 31, 2015, and 400,000 vesting on December 31, 2016.
On October 29, 2014, we completed the issuance of 250,000,000 of our common shares in a public offering amounting to net proceeds to us of $332.9 million.
On December 30, 2014, our compensation committee approved that a bonus in the form of 2,100,000 shares of our common stock, be granted to Fabiana for the contribution of Mr. George Economou for Chief Executive Officer's services rendered during 2014. The shares vest over a period of three years with 700,000 shares vesting on December 31, 2015, 700,000 shares vesting on December 31, 2016, and 700,000 vesting on December 31, 2017.
HAVE TO R/S Split! Only 100M authorized and Kalani already has 22M and can't buy balance of $145M of stock @ $1.60/share because not enough available. Exceeds total shares authorized unless GE splits the stock.. Do the math everyone!!!
NASDAQ up 1.35% Dow up 1.46% DRYS down 7.28% Time to put a fork in DRYS. AS stated many times to any future buyers, this is a GE Ponzi Scheme!
WOW $.03 PER SHARE DIVIDEND FOR HOLDERS OF RECORD 3/15/17 AND PAYABLE 3/31/17. CAN ANYONE SURVIVE THAT LONG WITH STOCK DROPPING LIKE A ROCK? WHY WASN'T THIS ANNOUNCED WHEN STOCK WAS $3 OR $4 OR $5?
AVOIDING A SEC INVESTIGATION IS MY THOUGHT.
Wake Up Investors!! You are being "had" There is NO silver lining in this stock.
Greek shipping magnate George Economou has been attracting a lot of media attention. And it’s for all the wrong reasons. Economou has been called the ‘worst CEO in the world’ (which is quite an achievement) a ‘crook’ and many more similarly unpleasant names. What has he done to deserve such an infamous reputation and market outrage? Well it’s not pretty. Let’s take a closer look.
Economou is the CEO of dry bulk shipping company DryShips Inc. (NASDAQ:DRYS) founded back in 2004 (as well as Ocean Rig UDW (NASDAQ:ORIG), an operator of semi-submersible oil rigs and UDW drillships based in Athens). Shares in the company are currently trading at $4.62- back in April the share price peaked at close to $2000.
Reverse share splits
In the course of the last two years, Economou has put DryShips through multiple massive reverse splits (in March, August, October and January this year). These splits are all smoke and mirrors- they do nothing for the company’s fundamental picture and indeed studies show that reverse split shares actually underperform when compared to unsplit shares.
Multiple reverse share splits like this are very rare. The first three of these transactions took the number of DRYS shares from 700 million to just 1.1 million. This means shareholders are unable to benefit from small share price movements. Following each reverse split transaction, Economou sold shares back into the market. The result- share dilution and the reduction of value for shareholders.
Loan defaults
DryShips saw its share prices tank back in June 2016 after the company defaulted on three loan payments and announced total liabilities of $280 million. This year shares are down a further 84%. Why? Because of Economou’s tried and tested strategy of making a personal profit at the expense of generating higher returns for shareholders.
Private transactions
In the past month, there have been a number of dubious looking transactions. First, at the beginning of January, Economou refinanced the company’s debt with a $200m loan from his own company Sifnos Shareholders- which charged a 2% fee plus interest (LIBOR + 5.5%) plus 30% upside of any asset value collateral base increase.
So what was this loan used for? The press release tells us” entering into an option agreement to purchase four Very Large Gas Carriers (VLGCs) at a price of $83.5 million each ($334 million total) from yes, you guessed it, “companies controlled by its Chairman and Chief Executive Officer, Mr. George Economou”. If acquired the vessels will be managed by TMS Cardiff Gas- a company also controlled by Economou.
Shares did move higher on Jan 31, boosted by significant trading volumes following an announcement that the company had raised $200 million for the sale of 31.8 million shares. However even this apparent ‘success’ is a cause for concern as the shares (which sold at a premium price of $6.30 a share) were bought by Kalanai- a company about which very little is known other than that is based in the offshore tax haven of the British Virgin Islands. It is also very possible that this company is controlled by none other than Economou himself. And apparently, Kalani may have already sold the shares to public investors according to CNBC’s Karen Finerman.
Lies to the SEC
In a further twist to the tale, on Jan 24, news came out that Economou allegedly lied to the SEC in multiple 6-K filings and is now being investigated. The allegation is that Economou lied to the SEC using Panama Papers proxy and corrupt Canadian officials. Shares in DryShips fell 14% on the news. The 6-K filing is a required submission for foreign private issuers of securities so that US investors have access to the same information as investors in the company’s ‘home’ market.
Bottom line
Steer well clear of DRYS and ORIG (and any other company that has dealings with Economou) because bad leadership is never a recipe for success and almost certainly a recipe for disaster.
DryShips updated investors after the close of trading on February 24 on the progress of its ongoing equity raise with Kalani Investments Limited ("Kalani"):
As previously disclosed, DryShips Inc. (the "Company") entered into a common stock purchase agreement (the "Purchase Agreement") with Kalani Investments Limited (the "Investor"), dated as of February 17, 2017, relating to the public offering by the Company of (NYSE:I) up to $200.0 million of the Company's shares of common stock, par value $0.01 per share, to the Investor over a 24 month period (the "Shares") and (ii) up to an aggregate of $1.5 million of shares of the Company's common stock, par value $0.01 per share, issuable to the Investor as a commitment fee in consideration for entering into the Purchase Agreement. (...)
As mutually agreed to by the Company and the Investor, the Company sold 22,482,371 Shares to the Investor, pursuant to a Fixed Request Notice with a Fixed Request Amount Requested of $55.0 million following a Pricing Period from February 21, 2017 to February 24, 2017. The Fixed Request Amount was $55.0 million, subject to a price per share of approximately $2.45 mutually agreed to by the parties for an aggregate gross purchase price of $55.0 million, resulting in estimated net proceeds of $54.5 million, after deducting the Company's estimated aggregate offering expenses.
Following the settlement for all of such Shares sold as of the date hereof, the Company will have a total of 58,836,362 shares of common stock outstanding. As of the date hereof, up to $145.0 million of the Shares is remaining that the Company may sell pursuant to the Purchase Agreement.
Meant Charts
Carats meaninglesswhen scam is in place. Keep using stockholders $$$ to buy more tugs to be managed by GS's other company at favorable rates with very little profit to DRYS. Where is the benefit to DRYS shareholders? Most on this board too young to remember Aristotle Onassis, but he did the dame thing in the 60's and the only one who benefited was Jackie Kennedy.
10 to one reverse split soon in an attempt to stay within NASDAQ regulations. Could be even more. Shame we can't buy into Kalani like GS has in spite of denial. Perhaps Son, Daughter, Wife, Brother or someonw with close ties is part of this scam/Ponzi scheme.
JMO
My Point is that DRYS will trade at $3.75 or lower until order filled which is called DILUTION
100,125 shares that will be issued on February 21, 2017, the first trading day after we entered into the Purchase Agreement, valued at $3.75 per share (which is equal to the product of 0.94 and the lowest volume weighted average price, or VWAP, of shares of our common stock for the eight trading days immediately preceding February 17, 2017, the effective date of the Purchase Agreement), or the Initial Commitment Shares; (ii) at such time as the Investor has purchased an aggregate of at least $50.0 million of shares of our common stock under the Purchase Agreement, an additional $375,000 of shares of our common stock, at a per share price equal to the product of 0.94 and the lowest VWAP of shares of our common stock for the eight trading days immediately preceding the applicable settlement date on which the Investor exceeds such threshold; (iii) at such time as the Investor has purchased an aggregate of at least $100.0 million of shares of our common stock under the Purchase Agreement, an additional $375,000 of shares of our common stock, at a per share price equal to the product of 0.94 and the lowest VWAP of shares of our common stock for the eight trading days immediately preceding the applicable settlement date on which the Investor exceeds such threshold; and (iv) at such time as the Investor has purchased an aggregate of at least $150.0 million of shares of our common stock under the Purchase Agreement, an additional $375,000 of shares of our common stock, at a per share price equal to the product of 0.94 and the lowest VWAP of shares of our common stock for the eight trading days immediately preceding the applicable settlement date on which the Investor exceeds such threshold.
Read The Details....Scam set up by GE at shareholders expense!
DryShips Announces Strategic Expansion Into the Gas Carrier Market
ATHENS, GREECE--(Marketwired - Jan 5, 2017) - DryShips Inc. (NASDAQ: DRYS) (the "Company"), an international owner of drybulk carriers and offshore support vessels, announced today that, it has agreed to enter into a "zero cost" Option Agreement ("LPG Option Agreement") with companies controlled by its Chairman and Chief Executive Officer, Mr. George Economou, to purchase up to four high specifications Very Large Gas Carriers ("VLGC(s)") capable of carrying liquefied petroleum gas ("LPG") that are currently under construction at Hyundai Heavy Industries ("HHI"). Each of the four VLGCs are going to be employed on long term charters to major oil companies and oil traders.
Under the terms of the LPG Option Agreement, the Company will have three months to exercise four separate options to purchase up to the four VLGCs at a price of $83.5 million per vessel. If the Company exercises all four of its options, the total purchase price of the VLGC fleet will be $334.0 million. The transaction has been approved by the independent directors of the Company based on third party broker valuations. The Company intends to finance any acquisition of the vessels by using cash on hand, its undrawn liquidity under the previously announced new Sifnos revolver and proceeds from its previously announced issuer managed equity transaction.
If acquired, the vessels will be managed by TMS Cardiff Gas, a company controlled by our Chairman and Chief Executive Officer, Mr. George Economou, on the same terms as the previously announced new TMS agreements. TMS Cardiff Gas has a strong track record in managing gas carriers including LNG vessels and is approved by all major oil and gas customers.
The table below summarizes the main details of the proposed transaction:
Total
Backlog
Option (incl.
Scheduled Purchase Declaration optional
Vessels Delivery Price Deadline Employment periods)
5 years
TC(1) plus
1+1+1
April 4, years in Abt. $390
1 June 2017 $83.5 million 2017 CHOPT(2) million
5 years
TC(1) plus
1+1+1
September April 4, years in
2 2017 $83.5 million 2017 CHOPT(2)
October April 4, 10 years
3 2017 $83.5 million 2017 TC(1)
December April 4, 10 years
4 2017 $83.5 million 2017 TC(1)
(1) TC stands for time charter.
(2) CHOPT stands for Charterers Option.
Mr. George Economou, Chairman and Chief Executive Officer commented:
"We are very pleased to have concluded a deal that allows us great flexibility in immediately deploying our available liquidity. We believe in the long-term prospects of the gas carrier market. Having the option to acquire a fleet of four sister ships of very high specifications, ready for delivery in the near term and chartered to major industry players, provides us with a unique opportunity to enter this new segment in a solid footing that can be a stepping stone for further expansion . If the Company elects to exercise any of its options, each acquisition will be highly accretive to the Company's earnings and will provide visible and stable cash flow at above market rates."
About DryShips Inc.
The Company is an owner of drybulk carriers and offshore support vessels that operate worldwide. The Company owns a fleet of 13 Panamax drybulk carriers with a combined deadweight tonnage of approximately 1.0 million tons, and 6 offshore supply vessels, comprising 2 platform supply and 4 oil spill recovery vessels.
The Company's common stock is listed on the NASDAQ Capital Market where it trades under the symbol "DRYS."
Forward-Looking Statements
Matters discussed in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with such safe harbor legislation.
Forward-looking statements reflect the Company's current views with respect to future events, including the LPG Option Agreement transaction, the issuer managed equity transaction, and the Company's financial performance and may include statements concerning plans, objectives, goals, strategies and other statements.
The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, management's examination of historical operating trends, data contained in the Company's records and other data available from third parties. Although the Company believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond the Company's control, the Company cannot assure you that it will achieve or accomplish these expectations, beliefs or projections.
Important factors that, in the Company's view, could cause actual results to differ materially from those discussed in the forward-looking statements include the factors related to consummating the LPG Option Agreement transaction, factors related to consummating the issuer managed equity transaction, the strength of world economies and currencies, general market conditions, including changes in charter rates and vessel values, failure of a seller to deliver one or more vessels, failure of a buyer to accept delivery of a vessel, inability to procure acquisition financing, default by one or more charterers of our ships, changes in demand for drybulk or LPG commodities, changes in demand that may affect attitudes of time charterers, scheduled and unscheduled drydocking, changes in our voyage and operating expenses, including bunker prices, dry-docking and insurance costs, changes in governmental rules and regulations, changes in our relationships with the lenders under our debt agreements, potential liability from pending or future litigation, domestic and international political conditions, potential disruption of shipping routes due to accidents, international hostilities and political events or acts by terrorists.
Risks and uncertainties are further described in reports filed by DryShips Inc. with the Securities and Exchange Commission, including the Company's most recently filed Annual Report on Form 20-F.
Investor Relations / Media:
Nicolas Bornozis
Capital Link, Inc. (New York)
Tel. 212-661-7566
E-mail: dryships@capitallink.com
(MORE TO FOLLOW) Dow Jones Newswires
January 05, 2017 09:00 ET (14:00 GMT)
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SHELL OIL??? Where is that propaganda coming from? Total Ponzi scheme. The 4 ships being built have already been leased at a fixed price to GE's company at a fixed price which benefite GE and not the stockholders of DRYS.... It was noted, perhaps in responses to speculations, that Kalani has no affiliation with DryShips. What was omitted, however, was any mention of the mysterious company's relationship with George Economou, DryShip's self-dealing CEO. We believe that Kalani is affiliated with Economou, and the failure to dispute this assertion affirms my belief. DryShips has been contacted with these concerns; no one has yet to receive a response.
WRONG THESIS There are only 36+Million shares outstanding. DRYS has 100 million authorized plus 500 million preferred total
Therefor, it is most likely that another dilution will take place to make enough shares available for Kalani.
Longs like me are SCREWED once again. Not sure why I bought into this rip off but foolishly greed motivates. Looks like Tuesday will be a bloodbath for longs. Great article to read if anyone thinking they can profit from DRYS other than GE.
http://seekingalpha.com/article/4047350-dryships-latest-financing-round-kalani-provides-great-setup-traders
NOT OLD NEWS read today's Edgar Report (S-25) New Dilution as stated previously.
100 MILLION NOT 1 MILLION----SORRY. ALREADY DOWN APPROX $1.00/SHARE IN AFTER HOUR TRADING......uggggg
Major dilution. DRYS has 1 million common share authorization of which we are part of the 36,253,866 shares already issued.(read today's Edgar Report S-25)
No fixed price set for Kalani 200M purchase of stock so, if additional stock issued, major dilution.
Can also issue Preferred (500,000,000 shares) which would completely squeeze out common stock holders---you and me!
Ponzi scheme.Kalani is GE! Buy 4 new ships, sell 200,000,000 shares on Jan 19,2017.Dilute to 36 mil shares. Do it again, today, get another $200,000,000 and then contract to manage the 4 new ships.
We were fools to buy this stock. Send this man to jail!!
When the cash runs out, the company will be right where is started, and there may be another equity raise or stock split. EBITDA doesn't even cover interest expenses.
Seeking Alpfa well respected. Check today's remarks!
http://seekingalpha.com/article/4045660-dryships-countdown-next-dilution