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There is no investor, no one who is a savvy businessman would invest in this sham of a company. He is indeed involved its obvious its a deal between him and GE to enrich each other.
Pumping money in to a stock that dilutes and reverses on an industrial scale will not make you rich, so Kalani has no money in the game they are just middle men for this finance raising scam. Anyone who believes otherwise is deluded. This Canadian connection is just a front to stop GE from getting kicked off the Nasdaq for his self serving deals
JMHO
Did not have too wait too long for the announcement of very likely future R/S
from my post this morning
Hard to keep a straight face right now, so many chose to ignore the obvious, GE is F**ker full stop. This turd is flip only and not for holding, reverse split to follow in due course no doubt. What a Guy.
Because that is the name of TOPs lawyer, Goerge and Economou are both popular names in Greece, a case of taking 2+2 and making 5 i feel.
https://www.bloomberg.com/profiles/companies/3697634L:GA-gc-economou-&-associates
http://www.economoullc.com/en/index.php/our-team/george-economou
Yeah they are always right and have no vested interests LOL, like i said GL,
i am not seeing it, GL
The $2 billion revenue you speak of included the Ocean rig drillships when they were at the height of the the dayrates for that business and are no longer owned by Dryships. The Dry bulk business will never give those numbers.
From your link
Yes ultra bulls and bears make no difference but everyone can see there is no trust in the stock at the moment hence its trades below cash on hand even with the positive announcements the PPS is stubbornly low, yes GE has started on a acquisition spree, but that is after having sold off most of his original fleet over the last couple of years at a huge discount.
Fact is you cannot be confident holding this long as you can never be sure GE will not announce another bout of dilution to prop up his empire, that is why nobody is jumping in here
Is a MOMO play only and there has been none for a little while now
You keep bringing up the contract with shell, but he already had this with TMS Cardiff company since 2015, all he has done is transfer it from one company to the other so he could screw more money from the common holders to pay for the ships in the first place.
Trade this ticker only is all i say as GE looks after GE only, if it serves his purpose he will have no issues running drys in to the ground, as for the individuals managing their money i agree, if not GE has no issue managing it for you.
GL
Best not looking at a chart of this turd IMO, with all the R/S and dilution charts are meaningless here.
GLTU
Its all good , because he is telling you he will shaft you in advance i cite 2 examples from the prospectus
Those charters have been in place a long time , this is not new news
that information is also on the DRYS webpage, not hard to find
http://dryships.irwebpage.com/press/dryspr010517.pdf
https://www.vesselfinder.com/news/4896-TMS-Cardiff-Gas-Returns-to-HHI-for-Two-More-LPG-Carriers
https://www.lloydslist.com/ll/sector/tankers/article516482.ece?service=print
The 4 VLGC were ordered by George in 2015 from his TMS subsidery and already had the charters in place back in 2015 so its hardly breaking news, at the moment DRYS has only taken up 2 of the options, with George pocketing over $10 million by selling in house as the original purchase price was $78 million a ship and big George is charging Drys $83.5 million,
Great Guy that CEO
Trade this ticker only its not along term hold, CEO cannot keep his hands out of the cash register
JMHO
$10-$20 mark it down now. $DRYS
That is a very reasonable assumption imo once the dilution ends, may well spike higher but long term under $5, but that of course is just my opinion and being wrong would surprise me but not really upset me it is GE after all and this stock breaks all the rules.
GLTU
We will see, but i doubt it will be anything spectacular. Its not that much of surge and like i said GEs old rust buckets will not be first in line for any large day rates
But to each his own
GL
Epic, i think your tongue is in cheek on that one , fact remains they still only have the old Panamax vessels actually earning money at the moment. There are still way too many newer and available ships for GEs old rust buckets to achieve huge day rates.
A brief overview of DRYS shows us
Cash yes after 2 bouts of dilution it has its hands on a decent amount of cash, but on the flip side it has committed to 2 gas carriers at $165 million and two tankers for $102 million so there goes $270 million of that cash, over the next few weeks it may also commit to the final 2 gas carriers for another $165 million for a grand total of $437 million which is pretty much all the cash not including the mystical dividend.
As for the that Dividend when announced it was purported to be worth 7c a share, based on the latest share count its under 2.5c a share and that does not even factor in the remaining $70 million of dilution, so it will actually end up being under 2c, wow big deal and actually quite funny when you consider the excitement it generated at the time. That is of course if they do not R/S before the cut off date.
I reiterate that DRYs can should only be bought on upward MOMO or the end of the offering is anticipated/confirmed. So much optimism with regards the PPS during this bout dilution, all have been wrong and it trades a little above a $1.
DRYS is not a long stock, and has not been for many years, it has shrunk in size and is actually a tiny player in the global shipping market. It is not some golden goose and even if GE does get this back on a even keel the size of the company dictates its value/future PPS will just be fairly standard not stratospheric as many have shouted. Thats if GE can resist further dilution or borrowing.
JMHO
Another great month for longs not, under valued, perhaps, but even if it picks up anyone who has held this more than a few days will still likely be red. This stock only works if you follow the momo or anticipate bottom, following the momo is easier it would seem as people have been calling bottom for a week unsuccessfully.
Aside from the shorts,Only a few really get rich here, Big George the Greek is always first in that queue and the line of bagholders has been considerable, not bashing just being realistic. As have said previously on numerous occasions until you see positive upwards momo leave it alone
JMHO
Only one think GE cares about and it is not common shareholders, the only thing he cares about in regards to them is that they keep buying his crappy shares. He has made his fortune by ripping people off, his money is from other peoples pockets/pensions. I hate to think how much he has milked out of the common holder since 2005. His reputation is well deserved, Ask ocean rig common holders what they think.
George has been using this on DRYS for years
As i said GL and have a nice weekend
Only one think GE cares about and it is not common shareholders, the only thing he cares about in regards to them is that they keep buying his crappy shares. He has made his fortune by ripping people off, his money is from other peoples pockets/pensions. I hate to think how much he has milked out of the common holder since 2005. His reputation is well deserved, Ask ocean rig common holders what they think.
George has been using this on DRYS for years
As i said GL and have a nice weekend
GLTU, this is purely a momo play only IMO. Its all in the timing and do not stay too long. Until the dilution is announced as finished its a watching brief only.
JMHO
Shell has hired 2 of the 4 VLGC that GE is having built in Korea as ordered by TMS, but as of now DRYS only has committed to one out of the 4. These were signed in 2015 so its hardly new news
http://worldmaritimenews.com/archives/178013/tms-cardiff-gas-returns-to-hhi-for-two-more-lpg-carriers/
I am sure the shorts are too busy counting their money from this turd to be too concerned
All pie in the sky, you are assuming a figure of .07 a share, but as we are currently under a bout of dilution who knows how many shares will be in circulation by the dividend payment cut off date of March 15th ( assuming no reverse split of course). You are also assuming the PPS will be in this range, not likely IMO.
I just cannot get over how excited people got by this obvious GE ploy with this dividend payment play to deflect from the absurd amount of dilution that has taken place over the last few months. The fact he just raised even more cash through further dilution and then throws a few $ back is laughable IMO.
With the history of lack of cash and debt this company has spending $10 million a year on a dividend payment seems like a false economy until they actually start making money instead of just printing more shares.
Perhaps its an attempt to make people hold DRYS long term , but based on history if you hold long you lose and you would need a lot bigger dividend than whats on offer to make holding long attractive.
If things get tight again i am sure the dividend will not last long
all this is of course its all just MHO
Crumbs from the puppet masters table got all the pigs squealing, $10 million a year from the company coffers , its has a real history of being financially prudent LOL. Just whats needed to get back on track another drain on cash reserves. More smoke and mirrors IMO
Looks like Seeking alpha was ahead of the game on this one after all, at least with the headline, dated 3 days ago
http://seekingalpha.com/article/4045660-dryships-countdown-next-dilution
LOL
Read offering $3.75
up to an aggregate of $1.5 million of shares of our common stock to be issued to the Investor as a commitment fee in consideration for entering into the Purchase Agreement, as follows: (i) 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;
Agreed, money can be made here but its all in the timing and even with this ridiculous 2nd bout of dilution just announced once its over i am sure it will play a little, but just do not stay too long or you will lose. I just do not know who would want to buy whilst the dilution takes place. Its like playing with loaded dice, GE wins every time
GL
$500 Million cash !
No Problem,
My last point today to emphasis how this is obviously going to result in massive dilution is the terms of the fixed amount requests.
We are prohibited from issuing a Fixed Request Notice if (i) the amount requested in such Fixed Request Notice exceeds the Maximum Fixed Amount Requested, (ii) the sale of shares of our common stock pursuant to such Fixed Request Notice would cause us to issue or sell or the Investor to acquire or purchase an aggregate dollar value of shares of our common stock that would exceed $200.0 million, or (iii) the sale of shares of our common stock pursuant to the Fixed Request Notice would cause the Investor to purchase an aggregate number of shares of our common stock that would result in beneficial ownership by the Investor of more than 4.9% of shares of our common stock (as calculated pursuant to Section 13(d) of the Securities Exchange Act of 1934, as amended, or the Exchange Act, and the rules and regulations thereunder). We cannot make more than one Fixed Request in any Pricing Period and must allow five trading days to elapse between the completion of a Pricing Period and the commencement of a Pricing Period for any other fixed request.