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yep it will probably spike. works perfectly for the note holder who'll just convert another 10M shares and sell them back at you double the price.
filings are made by a person, not by a company. DRYS never released a current OS, so any filing is based on the old OS. but you're right, he's not a 10%-owner, maybe not even a 2%-owner by now.
CBDS has nothing to do with cannabis though, they could legalize it in the world and still CBDS wouldn't benefit.
a nice 10% spread now between bid and ask. this thing is really a ghosttown.
the problem is CBDS doesn't actually do ANYTHING, just read their filings. the cannabis market could explode to a trillion dollars, and CBDS still wouldn't benefit. if you want to invest in a cannabis company, then invest in a cannabis company, not a company that only pretends it is one.
let me try to save you then, six bucks will definitely not be the bottom.
you can calculate it. it's 77,5% of lowest vwap in last 10 trading days (4.80), so $ 3.72 right now. but as the share price falls below that, the vwap will fall with it. so the conversion price is always far below the share price, which means the dumping will go on and on.
No, it's not. DRYS hasn't even traded 70 million shares since the deal was announced. This will take weeks, if not months, for that amount of shares to be dumped in the market. Just look at the trading volume and you'll see.
the preferred shares are ALSO convertible into common shares. they even included a table showing they'll issue about 50-70 million shares, depending on the conversion price.
i've read the filing, countless times. you obviously haven't, otherwise you wouldn't think this would go up.
copy-paste me any part of it you think is positive to the shareholder, and i'll explain to you why it isn't. really, i will.
ash, yes, it will take place overnight. you see that happening right now, just look at the volume. the O/S is at least 10 million at this point, and will go to 70 million before this thing is even close to being done. the company gets tens of millions in funding to pay off existing debt, and the shareholder gets a 1 buck share price at most.
Sorry, but dry bulk index is down.
https://www.bloomberg.com/quote/BDIY:IND
not that that;s relevant to the DRYS stock price though.
after this offering is done, there are 70 million shares outstanding. you do the math.
maybe it will even hit 11 or 12. and then the note holder will dump it back down again. until we hit 1.50 it will be same thing over and over again.
the one who is really short naked right now is the holder of the toxic financing. good thing he never needs to cover at market prices ever; he'll just convert a few more of his gigantic amount of notes at a price about 90% below the current share price. rinse and repeat.
Baltic Dry Index is down over a percent today. It's in an uptrend longer term, but it always is this time of year. It's an index that moves on seasons (as demand is high in winter, thus relatively higher rates, and low in summer, thus relatively low rates), as I'm sure you know.
and there's that morning stock price pump again. the script is getting kinda old. up before hours, then dumped at the open, then up again around noon, then dumped after that.
it sucks to be wrong, but don't kid yourself. appr. 50 million shares will be created over the next few weeks/months, this thing still has a diluted market cap of 450 million. every spike will be sold into by noteholders. this will go down all the way to the conversion floor of 1.50. then likely that floor will be adjusted down (as companies like DRYS) always do, and it will fall furher.
What is correct is the ownership limit of 4,99%. The prospectus has no ban on short selling by the holder though. That's fortunate, as the holder can just sell short, then convert and never own anything near 4,99%. So, the clause is not relevant or restricting in any way.
Redemption is not Conversion. Redemption is getting your money back, conversion is converting into shares. The 90 days period is required for redemption, not for conversion. Conversion can be done instantly, as we have witnessed for the last two days and will continue to witness for at least the next number of weeks.
So no, this is not good information everybody needs to digest. It is incorrect information, either posted deliberately to mislead or because someone has no idea what he's talking about. Not good either way.
it went from thousands to zero in a nr of years, on very bad news over and over again. it went from zero to 115 in 2 or 3 days, on no news. surely you understand the difference.
well am i wrong? this won't run. any attempt to go up gets sold down by shares created out of thin air. completely different situation than last week, you can see it for yourself.
look at your Level 2 on the Ask and you'll see dilution is in full swing. Very big offers laying there waiting for your bid.
uhh what?? link please.
starting monday millions of new shares will flood the market, sold by someone who's got a cost basis somewhere in the 2's to 3's. DRYS had a nice run due to its limited float, but over the next week the float will increase from 1 million to 25-70 million, unless the share price hits 1.50 first. i'm guessing the latter.
wow, CBDS has become a graveyard.
Definitely, with volume (and public interest) dropping day after day since the election, and the share price slowly tanking, you don't hear me complaining.
yeah, because a dotcom-stock and a make-belief cannabis stock is exactly the same in every way???
you're joking, right? Nasdaq has halted stocks like this for years and years, they can do whatever they want. Worst case scenario this gets put back to Grey Market and will reopen in about a month or so.
well, this Nasdaq-halt also means quite a few fried longs.
they announced they sold their "old" activities for 4 million. considering STEM gets to keep 85% of that, that's 3.5 million. now divide that by the 200+ million shares soon to be outstanding after the Microbot merger, and you'll see this news is worth about 2 cents per share. Why the share price is surging regardless, no idea, it makes no sense.
yes because dotcoms and purported cannabis companies that don't really sell cannabis are so similar???
and which sector is that. please, please explain to me what CBDS actually does and how much revenue they generate.
i'll happily take that bet, how much do you want to wager.
this thing is past its catalyst, a bit of uninformed dip buying before another wave of selling to zero. this company is worthless whoever is president.
how about tomorrow? another BIG GREEN DAY?
people have been saying this is going to go to 20 for months. at first it was "this well be 20$ at election day", nope. now it will be 20 "some time in the future".. nope. the company is worthless, as in worth zero.
congrats. too bad you missed a great opportunity to sell though.
this thing has crashed from 8 tot 5.50 every since I started posting, i'm not doing too bad thanks. and we're only getting started, trust me.
i was saying this will go lower, and it will. much much lower.
it is definitely dropping lower than today. if you haven't sold already, you're way too late.