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How do you deduce i think this is good news? I was highlighting somebody else saying its good news and showing the folly in the statement, hence the quote. I am very very bearish on drys and trade only when the momo indicates, this is a crooked operation run by a white collar armed robber. You can only make money here by jumping in and out ASAP.
I see it as a great news.
Like having money for the operating expenses.
Investors will keep pouring money in this sector.
24 months, not 4 weeks.
December 27, 2016, Athens, Greece — DryShips Inc. (NASDAQ:DRYS) (the “Company”), an
international owner of drybulk carriers and offshore support vessels, announced today that it has entered
into an agreement with Kalani Investments Limited, an entity organized in the British Virgin Islands
(“Kalani”) and that is not affiliated with the Company. Under the agreement the Company may sell up to
$200.0 million of its common stock to Kalani over a period of 24 months, subject to certain limitations.
Proceeds from any sales of common stock will be used for general corporate purposes.
January 31, 2017, Athens, Greece — DryShips Inc. (NASDAQ:DRYS) (the “Company”), a diversified
owner of ocean going cargo vessels, announced today that it has successfully completed the previously
announced $200.0 million common stock offering, in which the Company raised net proceeds of $198.0
million, pursuant to the Common Stock Purchase Agreement entered into by the Company on December
23, 2016.
A captain obvious quote from the Greek Thief
Investing in our common stock involves a high degree of risk. Please see the section entitled "Risk Factors" on page S-13 of this prospectus supplement and the risk factors beginning on page 12 of the accompanying prospectus for certain risks and uncertainties you should consider.
Motley fool
Crap fluff piece full of half truths and inaccuracies, and people complain about seeking alpha.
https://www.fool.com/investing/2017/02/15/why-are-investors-pouring-hundreds-of-millions-of.aspx
DryShips followed it a few weeks later, announcing that the company had signed a deal to sell stock to an unaffiliated investment company. Under the terms of that deal, DryShips could raise up to $200 million in equity over the course of the next two years, to rebuild its depleted fleet after spending much of the past few years jettisoning assets to repay debt. That said, the company would go on to raise the full amount a month later after finding a deal to diversify its fleet.
One thing all three of the recent transactions have in common is that these were private placements with more sophisticated investors like private equity funds or wealthy investors, instead of a secondary stock offering to public investors. These companies likely did this for two reasons. First, a public offering could have sent their stock prices plunging, because it would have caused a massive increase of new supply on the market. Another reason why these companies likely went the private route is that these sophisticated investors saw an opportunity to earn handsome returns if the shipping sector starts to rebound.
Yes its all a conspiracy LOL, no shares to short but the shorts have millions of naked shares in play LOL. Its traded 500 million shares since end of January and never gone above $6.50 on an o/s of 36 million but its not traders/momo boys flipping it and there is no shares available, its the shorts. Funny how they can always seem to cover and the squeeze never happens
Longs should change their name to blinds, despite all the advice/warning signs and history physically repeating itself they hold on to the dream of a Squeeze to try and cover the horrible losses they continue to hold on this turd. The traffic of posts here today or lack thereof should tell you something.
GL longs, i have a feeling you may need it
What is so hard about working out the float? The O/S was published recently and as no institutional owners have made any announcement of beneficial ownership if can be assumed it is 36 million, how do you think so many shares a day get traded if its locked up as tight as people make out. Most people holding are trading this not holding it so shares are always going to become available.
It is the great stock market trick of an imminent short squeeze that feeds this interest here, squeezes usually only happen on the stinky pinkies when the small O/S has been locked up by a few. Or as was the case with DRYS back in November when it did run, there really were very few shares around then and it had a very small 0/S, this is not the case any more.
Lot of people do not understand what the float is,
http://www.investopedia.com/terms/f/floating-stock.asp
This conversation is very stale, i have heard squeeze for over 3 months , still waiting.
What a scammy BS pointless filing by MS today, as of December 31st MS had .3% and was no longer beneficial holder, it takes 7 weeks to announce this? and of yes what has happened since then a 1-8 reverse split and lots more dilution meaning this Filing is complete crap as well as being 7 weeks late. ,
That is how crooked the game is, filing a meaninglessness ownership declaration 7 weeks late that is no longer even accurate. Probably to serve some other purpose we are not yet aware of but may know of in a few weeks/months when they deem fit to tell us, perhaps. GE and MS are made fro each other it seems.
LOL
If you believe there is only 46k shares to trade you are being unrealistic, there were almost 22k individual trades on Friday alone, and that was a quiet day as the circus has left town. If that really was the float then this thing would already have taken off like a scalded cat. there have been so many reverse splits and dilution its hard to keep track, that 46k is probably the float back in November
Even if the 1 million short is correct, that is only just over 3% of the outstanding shares so there will be no squeeze based on those figures.
As there are next to no insiders holding any sizable interest and next to no institutional holders float is considerable size, for those who do not understand what the float is please read.
http://www.investopedia.com/terms/f/floating-stock.asp
The freak spike in November when the float was actually very low after a planned reverse has blinded lots of people to the reality of DRYS, it is only to be traded when you have sustained upward momentum and volume to match, and even then do not hold this turd for too long as it will come down just as hard.
But too each his own
GL to anyone willing to hold this turd without Momo/volume/news combo
JMHO
Agreed, i never said you could not make money if you happen to read between the lines or anticipate/join the spike early enough. Just treat it for what it is a GE enrichment machine that if you stay too long in you will lose every time. Notice how there has been no further announcements for another option taken on the gas ships yet, even though they have the cash? that would cause a small spike perhaps he is waiting a while to get more of a reaction to the news, or he will not proceed with anymore, he has his money now.
I just think that the SEC has let a lot of people lose money through legalized skulduggery, they should shut him down from the Nasdaq, that is his big selling point listed on the Nasdaq since 2005, fleecing longs/investors every since LOL.
I am really am waiting for his appearance on American Greed sometime in the future. He really has fleeced epic amounts of money from the US investor
GLTU
My last point here in support of my theory that GE used this Gas carrier deal to keep DRYs afloat by selling shares is would anyone have bought $200 million of shares in a company with an ageing fleet of Panamax vessels on spot charters? not likely
The only real beneficiary in all this is GE , he already had the charters and the ships ordered but then managed to raised $200 million in shares sales by buy selling the options to buy something that was already his to himself essentially.
Crook, no other word for it
Yes when he originally ordered the ships he had charters in place
http://www.marinelink.com/news/carriers-cardiff-orders401705
http://www.shippingherald.com/tms-cardiff-gas-orders-lpg-carriers/
both dated 2015
IMO this gas carrier deal was to attract flies to the honey so he could sell $200 million of DRYS shares. Would not be surprised if DRYS only end up with one carrier.
ncorrect- the purchase price is shown in 2 different fashions, one as an individual acquisition and one as a package for 4 reflecting the discounted price... please pay attention!
$334.0 million
Guys is an effin crook when will people wake up to this guy
In September, the Athens-based company ordered four 84,000-cbm LPG carriers for $76m each from HHI, which marked TMS’ diversification from LNG carriers and into petroleum gases.
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
Agreed, holding a stock for a week does not make you a long, although a week with this turd in the portfolio is a long time LOL. There are no true longs because of the 4 reverse splits in 12 months wiped out longs completely, just fresh potential bagholders.
Greek shipping stocks have a whole different set of rules, if you like fairgrounds/rollercoasters they are awesome. Cheating scum just dumped a share sale on the market at a huge discount, no wonder it tanked.
GLTU
I was being a little sarcastic, yes they were in print at the bottom classed as underwriters but the whole deal was framed as an investment to the general public.
They were not a traditional brokerage or bank underwriter, just a figment of GE imagination to con a few more commons. Yes a few make good money on DRYS if you play the game but it relies on a whole load of bagholders to make it happen and for it to continue, notice how quiet its gone today, the circus is moving on for a while only be bagholders left shortly.
There have been enough red flags on show and they have been highlighted by several here for quite some time, but it seems always someone willing to buy in to the Squeeze is coming the squeeze is coming crowd who are in fact the ones selling to you.
GL
They were not underwriters they were investors remember they were buying to invest not to broker a share fire sale. Oh yes but at the bottom it says the will sell the shares to the public if they deem fit. Pretty sure if they hold enough they have to declare just like anyone else.
But with GE being Foreign and the investor/underwriter being foreign you never know
So its possible but unlikely as GE does bend the rules but knows he has to keep within them if he wants to keep milking the US investor. He can always dilute again when he needs some more cash.
He has to file as would kalani if they owned a decent % of stock. He is smart/sly/devious/crooked and i would not put it past him but if he can finance his ships through commons and take a management fee to boot all well and good.
http://www.investopedia.com/terms/b/beneficialowner.asp
You are talking personal enrichment and the whole purpose of this fake finance was to boost DRYS balance book, GE wins either way as as before all this mystery benefactor came along wanting to sink lots of money in to a lame duck non profit making turd like DRYS it really was in the toilet, he may have a few shares in his back pocket but i am sure he will save them for a rainier day than right now
Plus to have a decent run up you need a small float and this is over 30 times larger than November, All this shorty getting fried is real old now, just look at the volumes since they announced the finish of the "Financing" its day trading and momo and if you can day trade you can cover.
As always JMO
GLTU
You could look at it like Kalani shorted the shares or you could look at it like Kalani was just a middle man/make believe entity for a % and that GE was just printing shares and passing them straight out to the market over a period of time, he had to reverse split in the middle was because the large number of new shares available caused the PPS to crash badly meaning evermore shares were needed to raise money, do you really think Kalani would have signed this deal knowing a reverse split was planned if it was a genuine investment , and , but as GE did not give at crap about common share holders he just wanted the $200 million to fluff up the books and so he could buy the nice shiny new ships he carried on. The $6 and change figure was a split adjusted number to make it up to $200 million as they sold a lot more than 31 million shares on the transaction. The pertinent information is in bold and underlined
Between the date of the Purchase Agreement, December 23, 2016, and the date hereof, we have sold, pursuant to the Accompanying Prospectus and this Prospectus Supplement, an aggregate of 31,769,940 shares of our common stock to the Investor at an average price of approximately $6.30 per share. The aggregate gross purchase price for these common shares was $200.0 million. As a result, as of January 31, 2017, we will have completed the sale to the Investor of the full Aggregate Limit (as defined in the Purchase Agreement) provided for under the Purchase Agreement, which will automatically terminate in accordance with its terms. Our estimated aggregate net proceeds from the sale of these common shares is approximately $198.0 million, after deducting our estimated aggregate offering expenses. This information reflects adjustments for the previously announced 1-for-8 reverse stock split of the Company's common shares that became effective as of the opening of trading on January 23, 2017.
You can read whatever you want in to it i guess , as many seem blind to GE and his shenanigans. but when it says as of February 7th that means on February 7th we have this much money and that many shares.Is it so hard to work this crap out? He has only put a deposit down on the first carrier, of which he used borrowed money? from himself at a decent interest rate.
He waited until the closing of the finance to announce this to paint this turd in a better light with these figures. Most of which do not relate to the actual 4th quarter or earnings, real revenue 12.8 million WOW this stock is a real cash cow LOL
February 7, 2017, Athens, Greece. DryShips Inc. (NASDAQ:DRYS), or DryShips or the Company, a diversified
owner of ocean going cargo vessels, today announced its unaudited financial and operating results
for the quarter ended December 31, 2016.
Updated Key Information as of February 7, 2017:
- Cash and cash equivalents about $243.0 million, (or $6.70 per share)
- Book value of Vessels, net about $95.3 million
- 3rd Party Loans about $16.5 million
- Sifnos Loan Facility balance about $142.9 million
- Sifnos Loan available liquidity about $57.1 million
- Number of Shares Outstanding 36,253,866
The Company financed the closing price of $21.9 million by using part its undrawn
liquidity under the $200.0 million New Sifnos Revolver, which now stands at $142.9 million. The $61.6
million balance of the purchase price for the VLGC will be payable in installments until the vessel’s
delivery from HHI.
Plus the $200M+ CASH DRYS received last month not counted yet
The Kalani deal was IMO completely fake and he did not hold any shares back as he needed to raise capital to keep DRYS afloat, forgive the pun. Kalani would never invest $200 million in Drys knowing a reverse was about to happen and if GE did it without telling them i am sure they would find GE floating in the Aegean sea, but it would offload the shares at a discount on to the unsuspecting common and pocket the difference. GE was not concerned about dilution or PPS dropping during this phase as he had a reverse split already planned.
That whole bogus "kalani investment" should be looked at by SEC but it will likely not be. Not sure how many people have lost money in DRYs over the years but its quite a few i am sure, i have DRYS on my watchlist still on an Etrade account it was added on July 1st 2015, it has since lost 99.94% of its value, that is all you really need to know, it was the equivalent of $6841 a share 18 months ago before the splits.
Ultimately he needs more cash to buy back the numbers to replace what he sold at a discount, that is why i see further dilution on the horizon, DRYS may climb higher eventually but it will be at common holders expense. NO real fund will invest in GE long term because it does not pay, as history tells us, that whole Morgan Stanley holding back i November stunk to high heaven to me.
At least the Gas Carriers have a guaranteed income, but it will take a while for that to filter in to results, like i said he only has so much cash right now. GE has proven time and time again he will do whats best fro him and to hell with long term common holders.
JMHO
GL
In my opinion which is just that DRYS is GEs vanity project and he will try anything he can to keep it afloat as it pays him well at the expense of the common share holder. I am not saying the Gas Carrier is a bad thing for long term income, but it will IMO put a large debt burden on the company unless there is another share sale and further dilution. If He does not raise more cash then he will not buy all 4 ships through DRYS unless he wants to finally kill the golden goose.
Maybe a repeat of the Kalani BS at some point if he wants all 4 gas ships badly enough.
Who knows, but IMO not a stock to hold, just trade it like most others
Cherry picking information is fun, GE loves to do that, i love the fact that he never mentions the debt he owns on the comapny or they fact he sold lots of the ships at rock bottom prices just last year, now he wants to buy LOL, he has no money if he buys the Gas carriers just Debt. He cannot buy old junk and the gas carriers.
GE is a FLIM FLAM man, and you just want to get your money back on your $4.55 s LOL so you are joining GE and cherry picking the information
They have not paid for them yet, that is $300 million it still has to pay up if it takes on all 4. Also your figures are a little off TOTAL backlog is $390 million for 4 contracts combined , that will be just enough to cover the cost of the ships in the first place, and my maths makes it unlikely they will be able to purchase all 4 in the first place unless they want to $200 million in debt with no cash on hand.
http://dryships.irwebpage.com/press/dryspr010517.pdf
why would a long sell now?
I will tell you one more time you are wrong
after the Kanlani sale
dated jan 31
Mr. George Economou, Chairman and CEO, commented:
"We are very excited to have successfully raised $198 million of equity and with total available liquidity in excess of $300 million, we have strengthened our position to continue the process of re-building the Company's fleet and earnings capacity and pursuing investments in various shipping segments."
George Economou, Chairman and Chief Executive Officer of the Company, commented:
"We are pleased to have put 2016 behind us. Having now restored our balance sheet and successfully raised over $300 million in new equity in the last 12 months, DryShips is in a unique position to opportunistically acquire vessels at prices close to historic lows."
Listen, it clearly states the balances as of Feb 7th not Dec 31st,if your too blind to see it that is your look out. these figures have nothing to do with the earnings its a pump statement from GE, buy distressed vessels LOL he was selling them a couple of months ago.
You do not seem to understand the numbers are as of today and include the $200 million,not rocket science
Updated Key Information as of February 7, 2017:[
Cash and cash equivalents about $243.0 million, (or $6.70 per share)
Book value of Vessels, net about $95.3 million
3rd Party Loans about $16.5 million
Sifnos Loan Facility balance about $142.9 million
Sifnos Loan available liquidity about $57.1 million
Number of Shares Outstanding 36,253,866
Wrong its in the first line
Updated Key Information as of February 7, 2017:
Cash and cash equivalents about $243.0 million, (or $6.70 per share)
Book value of Vessels, net about $95.3 million
3rd Party Loans about $16.5 million
Sifnos Loan Facility balance about $142.9 million
Sifnos Loan available liquidity about $57.1 million
Number of Shares Outstanding 36,253,866
yeah lets just forget about the $160 million in debt or $4.44 a share LOL
What earnings? they raised some money from long suffering shareholders through a share sale scam and still hold $160 million in debt. That just tell you what a turd this really is if that excites you
today announced its unaudited financial and operating results for the quarter ended December 31, 2016.
That makes no sense, why wait till then to cover when shorts had ample opportunity all last week and so many trades to do it plus it was $6.50 earlier last week and its now only $5, too many shares being traded for their to be a real squeeze, to easy to acquire.
JMO
A little reality check needed here i think, Almost all of Drys fleet is now getting long in the tooth with 8 of the 13 Panamax left being 15 years or older and all bar 2 being at least 12 years old. The average age for scraping Panamax vessels is now only 20 and 70% of the worlds Panamax fleet is under 10 years old with 44% less than 5, so essentially DRYS ships are a dying asset value when it comes to working out the company worth and in truth are not worth a great deal on the open market due to there age.They already sold off the large Capemax vessels and most of the newer Panamax to stay afloat before GE thought up the Kalani share dump Scheme to keep the lights on.
https://opensea.pro/blog/age-of-the-dry-bulk-fleet
http://dryships.irwebpage.com/ir_fleet_deployment.html
Regardless of how good GE will try to make the books look DRYS is a true candy covered turd and if you take away the kalani money for the Gas carriers it still has plenty of debt with rates for their older ships being below industry average and the fleet getting older every day.
I think its priced a little on the low side at the moment but not too much and $4-$7 is about right. Anything higher is IMO just just Enron /worldcom accounting again. Fleets just too Old
Yep, and DRY SHIPS owns over sixty percent of the industry. They are the biggest!!!! HUGE MONEY COMING OUR WAY $$$$$$$$$$$$$$$$$$
As of 2005, the United States Maritime Administration counted 6,225 bulkers of 10,000 DWT or greater worldwide.[
I saw your link, yes it was GEs plan to get in to the LNG business, originally ordering the ships with his Cardiff subsidiary .
The master stroke was getting gullible shareholders to buy more of this turd after the reverse splits through the fake Kalani investment so he could actually pay for the ships he ordered. He is slipperier than a greased weasel that Greek. On top of that Cardiff will get to manage them for a fee, and when DRYS defaults on any future debt payments to George as they spent all their new found cash on the nice new ships he will likely take back the ships at a huge discount on cost for a coup de gras to the sucker long suffering shareholders who funded it in the first place
He tried this diversifying once already with Ocean rig, how did that work out for DRYS shareholders long term LOL. Guys a jerk with zero respect for the people that have kept him afloat for so many years, he just milks them like cows for his own enrichment all the while treating his public company like his own fifedom whilst the SEC watch him rip off the American investor and do squat. If he tried this crap in Greece they would find him with concrete shoes examining the seabed one day.
JMHO