$1MM or bust
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China has cut the reserve ratio again - expect continued yuan devaluation - it won't be enough however. They will have devalue the yuan some 50% if they want to stay ahead of the curve. The global trade tsunami is approaching. Each pip in devaluation is a step towards destiny.
Article: https://www.reuters.com/article/us-china-economy-rrr-cut/as-trade-war-looms-china-cuts-some-banks-reserve-requirements-to-boost-lending-idUSKBN1JK094
A lot of winds blowing into Grecian ports, shipping investors can look forward to a long, bright future. The night is over and the dawn is come.
Recent upgrades on shipping stocks:
https://www.fool.com/investing/2018/04/23/dry-bulk-shipping-stocks-win-upgrades-what-you-nee.aspx
They filed for termination of registration, this company has effectively "gone dark" and is thus delisted and under no obligation to report.
https://www.sec.gov/Archives/edgar/data/1401112/000161577418002779/s109712_1512b.htm
Regarding "going dark":
https://www.dorsey.com/newsresources/publications/2009/03/going-dark--voluntary-delisting-and-deregistrati__
There is only one OTC shipping company stock I know of that has not yet delisted, and actually filed a 20-F for this year (hence they are current in their reporting) and that is www.freeseas.gr
Congratulations to FREEF for having survived the great Greek depression. The 7 years of famine is over, now for the 7 years of plenty.
Global Shipping On Course for Recovery in 2018
The Greek debt-restructuring for shipping is here! See link!
https://finance.yahoo.com/news/danaos-corporation-announces-comprehensive-debt-131500820.html
It's a Greek container-shipping company!
FREEF is getting its turn soon!
DRYS sold two old Panamax ships a week ago for $20 million - could FREEF be the buyers? They've stated repeatedly in their 20-F that any opportunities to purchase ships just like this will be undertaken. They didn't disclose the buyers, maybe because this is material information (i.e. it's a publicly traded entity) not yet disclosed by the purchasers!
From the 20-F:
phx.corporate-ir.net/phoenix.zhtml?c=182261&p=irol-SECText&TEXT=aHR0cDovL2FwaS50ZW5rd2l6YXJkLmNvbS9maWxpbmcueG1sP2lwYWdlPTEyMjU0MTEyJkRTRVE9MSZTRVE9MjcmU1FERVNDPVNFQ1RJT05fUEFHRSZleHA9JnN1YnNpZD01Nw%3d%3d
Crooks are always interested in making money. I think the turn around in global shipping will afford them the opportunity, but they are unable to do it while their stock is in the dumps. They will need to put on a good face, "turn a new leaf", generate some new enthusiasm, etc. etc. while the wind is at their backs.
I would also say that maybe they are crooks. But they can't commit any more crimes now. It's literally impossible. They are cuffed by the conditions of reality. They can't sell convertible debt and they can't sell stock. These are the best possible conditions for an equity investor in the pinks.
Their debt is with a Greek bank. That is the most important aspect.
Reread my posts for the reasons that's a great thing and what it means can happen here.
No one has shares to sell this stock down to $0.0001/share so that's a pipe dream as much as $1000/share.
Market cap is by most estimates $40,000-$60,000, they don't even have the value to dilute more. No one would have them even for a toxic convertible covenant.
However, there are two feathers in their hats. The shipping market is stable and turning up and their debt is about to get written off. This a good set up if you ask me, despite the bad history.
So if they are worth $40-60k with $20 million of unpayable debt and a covenant which stipulates they can't take on additional debt, what are they worth when that $20 million of debt is forgiven and they have the ability to take on new loans? My guess is a lot more than $50,000.
But I digress: when China devalues, none of this will matter. The absolute trade tsunami this will cause will lift all ships (and shippers) a 1000 feet. You think there's no reason that China has bought a majority stake in the port of Piraeus? Greece is going to be the Europe-China shipping gateway, this was all planned years and years ago, now the plans are being put into action.
Article: https://www.reuters.com/article/greece-cosco-sipg/shanghai-port-teams-up-with-greeces-piraeus-to-boost-container-traffic-idUSL8N1J531W
OK a track record of dilution.
OK assets are minimal.
But now look at the stock. Look at how at huge the spreads are now. They can't reverse-split or dilute anymore. The market cap is too low. It's impossible.
The remaining convertibles literally cannot be converted because there is no market to sell it to, the risk of dilution for the foreseeable future, in fact, has disappeared.
This stock cannot physically go down. This is the hardest of all bottoms.
So you consider that. Then reread my other posts.
This situation can only get better from here.
It's the plan the Eurozone has for Greece, do the research.
FREEF is going to be FREE
Increased OPEC output will benefit FREEF, they're going to be trading that oil for something, right? Isn't that how trade works? Won't that something be shipped in containers?
Anyway, that's not really the big event. Yuan devaluation will be, the Chinese currency cannot compete in trade while Brazil, Argentina, African countries, Russia, Mexico have all seen their currencies depreciate enormously vis a vis the dollar.
Have you seen the latest numbers of China?? Looks like they better do something! They already lowered the reserve ratio a while ago and their economy still shrunk! They will need a bigger tool!
On a final note, guess who was the biggest presence at Posidonia 2018 this year (record setting attendance btw), you guessed it, the CHINESE! And the Saudis as well.
Keep your eye on the BDI!
BTT
FREEF debt with NBG is going to get written off - the centerpiece of the new Greek economic program is writing off all the NPLs on the books.
Article: https://www.bloomberg.com/news/articles/2018-05-21/greece-s-post-bailout-growth-plan-targets-banks-npls-business
FREEF will also get recapitalized for the same reason that the same Greek banks want to start increasing loans to the shipping sector now.
Article: http://www.seatrade-maritime.com/news/europe/bank-ship-finance-to-greek-market-seen-rising.html
Due to the very adaptable business model of FREEF, as outlined in the 20-F, should the BDIY continue its rise, they will stand benefit because they are not locked into long-term contracts.
On the macroeconomic front, extreme currency depreciation in several emerging markets is creating export opportunities which will boost global shipping. There is additional suspicion that China could devalue the yuan, they have already begun the process when they failed to raise rates in step with the Fed this week. Furthermore, OPEC is expected to raise output significantly in the coming months which will be a boon to shipping rates. Price discrepancies between US Shale and Brent oil prices have created opportunity for physical oil traders and physical trading requires extensive fleet use in its practice.
In general, the outlook is very positive for FREEF shareholders: the market capitalization is so low, they cannot squeeze any more financing out from dilution, and there are many reasons to believe the financing can come from non-dilutive means as the shipping sector outlook continues to brighten and financiers look to get exposure. Finally, they are going to get a clean slate in terms of debt obligations, which liberates management to pursue growth rather than survival.
Citing Slate... really?
Try Bloomberg:
https://www.bloomberg.com/news/articles/2017-08-09/trump-is-seen-bypassing-acting-ftc-chief-in-favor-of-outsider
First line of Bloomberg article is literally:
President Donald Trump is poised to nominate a longtime antitrust attorney as chairman of the Federal Trade Commission...
If you know anything about politics.. once the winds change, the bandwagon begins. And it starts with judges' decisions on relevant cases, e.g. Attia v Google.
This anti-Google new Chairman of the FTC will give us more legal steam.
http://www.multichannel.com/news/policy/trump-taps-simons-ftc-chair/416037
Space Data will soon be granted an injunction against Google's project Loon. I think that will give more credibility to a positive outcome for EA and MAXD in this case.
FORTUNE MAGAZINE ARTICLE!!! http://fortune.com/2017/10/08/eli-attia-lawsuit-google-racketeering/
Look for the news this week to take this mainstream!!!
There is merit for a case, for evidence to be procured, and for Google to explain themselves. This is complete objective fact. The potential liability is huge for Google, financially and reputationally. This case will never make it to court.
No one wants to bring the bad news to their boss that there's a case here. My guess is they are deferring reality until it is unavoidable to settle.
There's definitely a case to be heard based on the circumstances surrounding Project Genie, Attia, and Flux. Especially since it appears Google didn't get anything in writing.
.
Going to court dramatically increases the potential liability Google faces and also maintains headlines of "Google accused of racketeering" in news articles for years. I think settling quickly and decisively is the best solution if the claims have the chance of seeing court, which I think the circumstances regarding Attia's involvement with the Project Genie at least merit.
I think the court case will quickly advance to a "he said, she said" where neither party has proof their position is right, but the court will decide that Attia's involvement and contributions deserve compensation.
A settlement would obviously be split between MAXD and EA, I don't think it would occur through a stock purchase, any settlement payment would be credited to MAXD's bank account and boost the value of the stock to at least the value of the cash settlement attributed to MAXD.
Google will buy them out well before trial. I doubt their well-funded PR department can stand to see the words 'Racketeering' and 'Google' in the same sentence. I am curious if this lawsuit will go viral in Sunday papers, it's #1 most-popular article on San Jose Mercury News.
Racketeering lawsuit is the most popular article on Mercury News:
http://www.mercurynews.com/2017/10/06/google-accused-of-racketeering-in-lawsuit-claiming-pattern-of-trade-secrets-theftt/
That would be the miracle we need.
reality doesn't care about needs. The government's, mine, yours, or any others.
They cannot regulate what by virtue of its design can't be regulated.
They certainly want to control it. I'll give you that. But they will fail. In order to succeed, they would have to eliminate the internet itself.
For your reading pleasure:
https://www.coindesk.com/why-regulating-bitcoin-will-not-work/
I have to agree with you. This was a purely anti-cryptocurrency move. This will be a step of a longer war which governments are preparing against cryptocurrencies.
Both BITCF and ICAU were engaged in ICOs. Halting these two stocks are the only power the SEC has over the proliferation of cryptocurrencies.
They are different companies but I suppose you're right. We need a miracle. Im going to lose thousands if what we expect occurs . I only bought in two days ago. Just my bad luck.
If bitcoin goes to $5k+ by the time suspension is lifted this will go to $3 the first day.
If bitcoin moonshots to $10k we will make even more.
The price of this stock is going to get out of control. I don't think anyone, myself included, has a full appreciation of how insanely high this stock can go. It's already a 400 bagger from January.
Fun to watch the market play capture the flag at 0.0012.
Last two PRs regarding hemp farm were Monday AM. I expect something this Monday AM.
We are within a week of harvest time for the 1st 100 acres plantings. Industrial hemp only takes 12-14 weeks from seed to harvest and they announced the first 100 acres were finished May 16 (13 weeks ago). The second 100 acres were finished May 26 (12 weeks ago) so we can expect they will be able to announce a good estimate of the gross yields tomorrow or next week.
They stated they planted 263,000 seeds for the 1st 100 acres. Which works out to about 16 square feet per hemp plant, which is plenty room for each plant to grow comfortably. I'm not sure how profitable one hemp plant is, but I think that if they make even $1 per plant profit, they will be generating more than $3.5 million in profits annually for 200 acres, implying a valuation justifiably above $20 million (6x higher than current MC). If you anticipate any reasonable kind of growth/expansion, that valuation could be $100 million.
$DTII looks interesting.
I was most impressed at the big reluctance to sell at 0.0010. No bid-sellers at all when we got to the 0.0010 bid - 0.0011 offer a dozen or more times.That suggests to me that the run-up from 0.0003-0.0005 was from strong buyers who are looking for more than a flip. Looks like something is up.
TOPS 2Q earnings already out per CapitalCube https://finance.yahoo.com/m/d0825d3f-ffc7-341f-bd9f-51410c411963/top-ships%2C-inc.-%3Atops-us%3A.html
Superb revenue and earnings growth here (+100% YoY). China is on an importing binge and pumping the Baltic Dry Index higher. Looks like an inflection point in the Chinese economy from net exporter to importer. SINO seems excellently positioned. I expect next earnings report to show quarterly revenues + earnings growing 200%+ YoY.
Are we expecting earnings for period ended June 31 next week?