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There's going to be a nice bounce. The sell off was to be expected but book value still calls for mid $5's in my opinion!
@Penny - Looked like offer was being hit at close. May open up tomorrow. We will see.
So what's the stock worth now based on the company's net assets?
Here's my rough assessment:
Cash: $250 mln
Drybulk and offshore service fleet: $100 mln
Advance payment made towards the first VLGC: $22 mln
Long-term debt: $160 mln
Number of shares outstanding: 36.25 mln
In sum, DryShips current net assets roughly calculate to $212 mln ($250 mln cash + $100 mln fleet assets + $22 mln VLGC advance payment - $160 mln long-term debt) or $5.85 per share.
This company likely has down side short term because of massive red flags and conflicts of interest. Kelani's mysterious investment seems to benefit George Economou more than anyone else. And this is in keeping with DryShip's track record of related party transactions.
@Stock - where do you think this finds bottom?
@Wall - probably for the best! I'm newbie here though. Might look for entry.
@JP - Very quiet here. Looking for some interesting oil & gas deals. Anything going on?
@JR - Hoping to see more of a pull back to get back in. Looks like things are setting up though nicely for rest of first quarter.
@Penny - The filings have been a critical next step for this Company. While it doesn't guarantee execution it shows to me that management is serious about up-listing and completing M&A to drive shareholder value.
@Chris - I've been watching the tape, looks more like market makers and traders churning in at this new level. Trend is still in tact.
Very positive steps. Market reacting well here. Added more last week and this week so very pleased.
I don't disagree. Just starting to do more research here.
Will look to see how the bottom forms here. Agreed need to see what comes out.
Was thinking the same. Volume spiking.
I think it may have some room to downside but will average back in here today at some point.
Buying opportunity? Been watching this one.
Adding to position here.
The rebound here from last week's dip is impressive. Level 2 showing $.0141 x $.0147 up 8%
Looks like there may be some opportunities to buy the dip here.
Good list of DD here. Thank you for sharing.
What is next major catalyst for growth we are waiting for?
Looks like it may break, I'm hitting ask here.
Looks like this could be a good week. New here but may take position.
@Kit - thank you, will be interesting to see what happens next.
Positive developments. Seems to be heading in the right direction.
The social media outreach seems to be going well, connected with CEO on LinkedIn and he was quick to reply.
Looks like they are going to be very proactive as the acquisition is announced to getting in front of new investors.
@Kit - Yes that was my thought too. Have their been any comments since he because President or just during campaign trail?
Going to be a strong day!
$CSOC - Breakout Board Highlight
Caduceus Software Systems Corp is an innovation company. It develops software, software design assets and technical expertise to its clients. The term, Caduceus, is an ancient symbol of good business/commerce.
The company is focused on innovation with search as a primary project, and has lots of experience in IT in harsh environments, and it has a passion for music and the ability for music searchability improvements. It has assets and intellectual property that has accumulated for the past 5 years and will be applied to its projects.
As of November 2016, the company has recently expanded its business model to include Software as a Service (Cloud business services) to obtain recurring revenue streams.
It has projects in technology currently, and has strategic alliances with the open source community. As of January 2017 it has a working relationship with a hardware vendor called Icon Media Holdings.
$SHOM - what are you seeing as the catalyst here?
$VAPE - On Watch: VAPE Holdings, Inc. focuses on designing, marketing, and distributing various vaporization products. The company offers medical and food grade ceramic products primarily under the HIVE Ceramics brand throughout North America, Europe and South America. HIVE offers a nonporous, non-corrosive, chemically inert ceramic vaporization element, which can be used for a range of applications, including stand-alone vaporization products and electronic cigarettes. The company is based in Agoura Hills, California.
For more information on HIVE Ceramics and to visit our e-commerce site, please visit: http://www.hiveceramics.com.
From time to time, VAPE Holdings will provide market updates and news via its website http://www.vapeholdings.com or the Company's Facebook page at http://on.fb.me/1d5c7iO.
Good article, what is your take on Sessions as AG who has vocally opposed this concept?
I think you are right. However still digging for more relative rec and med use in the USA but would be interesting.
Encouraging comments from management.
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."
Starting to look well positioned
ATHENS, GREECE -- (Marketwired) -- 01/31/17 -- 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.
Following the completion of the offering, the Company has approximately 36,253,870 common shares outstanding.
Its very refreshing to see the company actively communicating as it makes progress on key things like the SEC filings.
At this stage, in my opinion its just a matter of when not if they deliver acquisition news in some form.
With the tight share structure here and history of no dilution I think it could be good this year for this company.
Very good questions. Here is some interesting history you may enjoy reading like I did.
Traditional Chinese medicine offers a range of practices that use concepts based on a tradition that’s 5,000 years old. This medicine includes forms of herbal medicine, massage (tui na), exercise (tai chi), dietary therapy and acupuncture. Many people are familiar with acupuncture and its uses, but most are not familiar with its connections to Cannabis. Research is confirming that acupuncture works with the endocannabinoid system, as does Cannabis. It is not a stretch to think that if you are treating pain/inflammation with Cannabis, adding acupuncture might ease your pain.
Cannabis has a long history in TCM. Cannabis is one of the 50 “fundamental” herbs of TCM, and is prescribed to treat diverse symptoms. Cannabis, called má, means “hemp; Cannabis; numbness” in Chinese, and was used by the Emperor Shen Nung, who was a pharmacologist.
http://www.thenorthwestleaf.com/pages/articles/post/traditional-chinese-medicine-how-marijuana-has-been-used-for-centuries
Clean Power Concepts CEO, Michael Shenher, Is Intent On Acquiring A Medical Marijuana Or Hemp Company As A Wholly Owned Subsidiary
NEW YORK, NY -- (Marketwired) -- 02/03/17 -- Clean Power Concepts Inc (OTC PINK: CPOW ) CEO Michael Shenher announced that the company has entered in an agreement with a consultant to assist him in pursuing a forward acquisition of a private company in the medical marijuana and or hemp field.
The Company already has taken steps to enhance its public disclosure on OTC Markets by attempting to go from a limited information sign to back to current in its filing obligations. Corporately, Clean Power Concepts Inc. is in the process of amending its Articles of Incorporation and Corporate Bylaws to create a series of Anti-Dilutive, Convertible Preferred Shares. The Company believes these securities would be attractive as currency to acquire these kinds of opportunities because the evaluation is not based on market conditions.
Clean Power Concepts Inc. CEO said, "We were in previous talks and were working to consummate a deal with a Company in the medical marijuana business, but we just couldn't come to terms due to several factors, one of which was the common stock we were going to issue. Now with the Preferred Stock we can do a deal which makes sense for all parties."
He further stated, "We have a team of very qualified professionals & consultants who have just started having preliminary talks with medical marijuana and hemp companies, and we think the conditions are much better to consummate a deal with the right candidate. The Company will update its stockholders as soon as its warranted, in the meantime building equity and value and anticipating growth in emerging sectors are what has driven us to this decision."
TA agree with your comments. Took advantage to dip to buy more. For those that read or post on this board that are questioning the progress of the company.
Honestly this is a speculative investment, we all know this.
If they follow through then we all do well. If not well we know what happens then as well. Its the risk versus reward that brings us here.
The rapid growth of the legal cannabis industry could help spur the U.S. economy. According to a report from The Marijuana Policy Group, the legal cannabis market in Colorado alone created about 18,000 cannabis-related jobs in 2015 and generated about $2.39 billion in economic activity for the state. In 2016, cannabis-related companies employed an estimated 100,000 to 150,000 full- and part-time workers, as was indicated in a report by Marijuana Business Daily. Legalization of cannabis for recreational use in four states in 2016 will further fuel the growth of this market. ChineseInvestors.com, Inc. (OTC: CIIX), GW Pharmaceuticals (NASDAQ: GWPH), Cara Therapeutics Inc. (NASDAQ: CARA), Zynerba Pharmaceuticals Inc. (NASDAQ: ZYNE), Insys Therapeutics Inc. (NASDAQ: INSY)
According to a 2016 cannabis report from the Cowen Group, a New York-based market research firm, annual consumer spending in cannabis is estimated to be $30 billion. California, a state home to 38 million U.S. citizens, legalized recreational cannabis use in November and is expected to boost the legal cannabis market. Vivien Azer, a cannabis analyst with Cowen, claimed that the nation's legal market will grow rapidly over next decade due to consumer spending on recreational and medical cannabis.
ChineseInvestors.com, Inc. (OTCQB: CIIX) this week announced, "the launch of its new website for its new subsidiary ChineseCBDoil.com. The website went live on January 31st under the URL: http://www.ChineseCBDoil.com. The Company is expanding into the medical marijuana industry with the launch of its website and plans to retail hemp oil and related products, which are legal to sell and distribute within China and in the United States in all fifty states (hemp oil is not marijuana, but indeed a separate and distinct plant made from hemp). CBD oil, derived from hemp is a product with medicinal qualities that are primarily used for anti-inflammatory and other common ailments. Its website is intended for the Chinese speaking population, a global market of 2 billion people.
Sunset Island Group Announces Launch of Medical Cannabis Division
Marina Del Rey, CA, Feb. 03, 2017 (GLOBE NEWSWIRE) -- Sunset Island Group, Inc. (OTCQB: SIGO) announced today that it has launched a medical cannabis division. The Company’s vision is to establish a fully integrated company that provides turnkey solutions to the medical cannabis industry. The Company's main focus is on providing a licensed facility that companies can manufacture and produce their products. Additionally, the Company will provide distribution for companies through an established network of dispensaries.
“With legal cannabis sales projected to jump from estimated $5.4 billion in 2015 to an estimated $11 billion by 2019, our industry needs scalable distribution platforms like those in comparable industries to efficiently meet wholesale, retail and consumer demands” said T.J. Magallanes. “In virtually every other industry this size, the leading independent distributors are themselves billion dollar businesses. We are looking to use our extensive experience in the medical cannabis industry to bring together a number of requirements, from a licensed manufacturing facility, sales, marketing and inventory management to warehousing, security and transportation with the intent to positions us as the industry’s leading distribution platform.”
Notice Regarding Forward-Looking Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate.
Contact:
Sunset Island Group
info@sunsetislandgroup.com
(424) 239-6230
Mentor Capital Adds 1,000 Shareholders per Month, Eyes OTCQX
Debt-free Cannabis M&A Leader Targets $2 Million in New Cash
SAN DIEGO--(BUSINESS WIRE)-- Mentor Capital, Inc. (OTCQB: MNTR) announced it has doubled its base of active shareholders who have shares in a brokerage account in the last quarter rising 100% to 6,000 from 3,000 three months earlier. “Each quarter I personally welcome every new fellow-owner reported by brokers with a signed note of appreciation, so this was a particularly happy recent task,” says Mentor Capital, Inc. CEO, Chet Billingsley.
“The additional free cash flow from our growing approximately $2.0 million December 28, 2016 judgment against Bhang Corporation, for failing to return our 2014 $1.5 Million investment after they rejected and breached the contract, seems of particular positive interest to shareholders. Ironically, the multi-million dollar success of Bhang Corporation in the medical marijuana, recreational cannabis and vape markets further improves the certainty of collection on the judgment, with or without the help of US Marshall servicing in each state where Bhang does business.” Mentor notes that it has already affirmatively discussed a $1.9 million tentative offer from a third party introduced by Bhang owners but that was not timely reserved with a $100,000 non-refundable deposit.
The company reports that in part because of this growth and cash, Mentor Capital, Inc. is looking to apply to join the 399 companies in the OTCQX, the top tier of the 10,000 companies organized by OTCMarkets. All aspects of qualification are arranged, significantly including net tangible asset levels, bid price, market makers, number of shareholders, market cap, audited financials, full SEC reporting, independent directors and an audit committee. Following the next board of directors meeting, it is anticipated that the formal paperwork will be submitted to OTCMarkets for their consideration.
In parallel with the hoped for uplisting, the company reports it looks to further simplify its already straightforward capital structure. Series B warrant holders who have not already done so, should send in their paper certificates to the company to receive an as of yet unscheduled redemption payment from potential cash flows. Series B warrants in brokerage accounts will automatically receive 10 cents each without any shareholder action needed. All shareholders are reminded that they may ask to be put on the list at any time to request to be a designee to together redeem in total up to 1% per tranche of the irregularly available Series D Warrants. These are under the Section 1145 partial exercise and exemption and are at a discount to the market. The warrants often come from the estates of former shareholders or others that have not exercised timely, who then later receive 10 cents for their warrants. The five Bhang affiliates have the option during 2017 under the rescission order to return their shares purchased for $1.95 plus interest to the judgment date, or they may keep and sell the shares if that becomes more lucrative. If 100% of such shares are returned 89,456 active Series B warrants will redound back to the CEO who contributed them and be exercised. The three longstanding non-affiliate Series H warrant holders have been contacted to discuss how to fairly monetize their cashless warrants. The CEO’s 10b5-1 Plan that allows level stock sales by a third party at about 1% of volume continues. Mr. Billingsley notes, “I removed my shares from the voluntary multi-year non-selling escrow, which itself followed about ten years of no stock sales on my part. This was triggered August 2016 in order to afford my two son’s out of state overlapping university tuition. Since the start of this trickle of sales, with repeating weekly notice to the SEC, our share price has increased 400%.”
About Mentor Capital: The Company seeks to come alongside and assist private medical marijuana and cannabis companies and their founders in meeting their liquidity and financial objectives, to add protection for investors and to help incubate private cannabis companies. Additional important information for investors is presented at: www.MentorCapital.com .