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UPDATE: Analysts says DryShips’ asset sell-off is part of a longer-term plan to recapitalise the business.
“Basically the company just has too much debt relative to its earning powers, relative to what rates are. They need to do something like this to recapitalise the company,” Amit Mehrotra, Deutsche Bank’s lead shipping analyst, told Splash by phone this afternoon.
“Fast forward six months and the company will have no assets but will have very little debt, some net cash and its stake in Ocean Rig, and it can basically start anew.”
Mehrotra said the implications for DryShips’ stock are uncertain, however. The company has until October 12 to boost its share price to above the $1 per share or else lost its listing on the NASDAQ Global Select Market.
DryShips’ stock is currently trading at around $0.2321 per share and has lost around 46% of its value since markets closed yesterday.
“Equity value is impaired where it’s trading right now or is at option value,” Mehrotra continued.
It’s uncertain what price will be achieved for the sale of the remaining 20 bulkers in DryShips’ fleet, he said. The price has to be more than the outstanding debt on the vessels in order to say that they have any equity value left.
Richard Rivlin, CEO of VesselsValue.com, told Splash: “Shareholders should not be surprised and with due diligence of the IPO prospectus when DryShips went to market, it would clearly have shown that there could be transactions between the public and private company.”
If it is a bluff I would be concerned about an SEC intervention. A chill or even suspension. The law man is slow but he isn't stupid! My .02
Just curious what makes you say that?
For a dead stock you all seem rather interested in it. lol. As long as there's chit chat it's still alive.
Curious as to why the address continues to change.
That's what he said. Smh.
TDA took my order no problem.
Link to statistics please?
I think the Form PRER14C filed 2/24 is the reason for this suspension.
Super 8k is not a real thing. Please stop referring to it. That being said once HAWK financials are out this is hitting multiple penny's very very fast. Get in now if you aren't already. Good luck guys.
Patience is a virtue. Congrats.
Post #66523 posted 2/24. Statement was released 2/20. This is old news.
Congratulations to all strong hands. Today and the coming days, and weeks are your reward. Up we go.
$GLER
For what its worth. I wanted to confirm everything that's been posted here. Just spoke with secretary who answered for Rich Kaiser at 757-306-6090. I asked if the 10-day time frame for the aquisitiion was still valid. He responded "As far as I know.. there's no reason for it to be delayed. Accounting and Legal are signing off and it will all go through."
But dont take my word for it, call and find out!
This is the closest thing to an IPO! The potential in just the short term alone is unbelievable. I urge you all to check out some of the awesome DD uncovered over the weekend regarding Hawk, and its finances.
It's that or reverse split the shares. The added preferred stock will be used for the acquisition it won't negatively effect the pps. If anything it confirms the acquisition will be complete very soon.
I would hold as long as you can. Keep in mind no R/S will occur.
Have you called hawk?
What don't you understand about this RM? Who cares what GLER has done in the past. GLER will be history once hawk acquires. Ignorance is strong in this one.
It's a good thing GLER will be no more after Hawks acquisition is complete.
Patience is a virtue.
I dont see a problem with the way GLER has traded today.
If we weren't dealing with the closure of an RM, you might be correct. But we are. If you're talking about charting you may want to consider comparing charts that experienced a reverse merger.
IMO
Now that's a healthy chart. Ready to launch.
It wouldn't hurt to do some research on stock trading all together. Penny stocks, particularly sub-pennies are a fantastic way to go broke if you don't know what you're doing.
I recommend checking out clay trader's chart analysis videos. He breaks down chart analysis so it's very simple to understand.
Here is a link to his analysis of GLER 2 dad ago.
http://bullwarriorstocks.com/post/global-earth-energy-inc.-gler-penny-stock-trading-chart-1-22-2014
And just a side note; you said you subscribe to penny stock alert emails. Stay away from that shit.
Then you'll never get in. Major resistance at .0011
Very exhausting. But patience remains a virtue.
I can't help but feel you've made a terrible contradiction.
Back to .005 by Friday without news.
Markets closed 1pm today due to holiday. Will resume normal trading Monday.
GLER Most active board.
Be careful.
Make smart decisions and protect your assets if you're in this for the long haul.
"Pursuant to a agreement between us (pennystockpress) and Dreams Online advertisement LLC, we were hired for a 9 week period beginning on 10/23/13 and ending on 12/27/13 to publicly disseminate information about REWARDS NEXUS INC (ERNI) , including on the Website and other media including Facebook and Twitter. We were paid $145,000 for or were paid zero shares of unrestricted or res tricted common shares. We own 50,000 shares of REWARDS NEXUS INC (ERNI), which we purchased in the open market. We plan to sell the shares of REWARDS NEXUS INC (ERNI) that we hold during the time the Website and/or Facebook and Twitter Information recommends that investors or visitors to the website pur chase without further notice to you. We may buy or sell additional shares of REWARDS NEXUS INC (ERNI) in the open market at any time, including before, during or after the Website and Information, provide public dissemination of favorable Information about REWARDS NEXUS INC (ERNI)."
TD Rep said its an issue with the MM, that is expected to be resolved in the next 10 - 15 minutes.
TDAmeritrade nothing on all OTC.
TDAmeritrade nothing on all OTC.
Closing green. Consolidation is wrapping up here.
Sticky this! Hahaha
About a month after breaking .006 it hit .06.
Extremely undervalued company. Last week put us on everyone's radar. Everyone wants in so the volume is lifting us. Big hands buying know something we dont.
Wow. All you can say. Get in it's not too late! Power hour 19 minutes away get in before then. Don't be cheap hit the ask! It will pay off.