Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
SAME S**T AT OCEANRIG. George is doing it again with shareholders of Oceanrig(ORIG). How many times can he screw stockholders without an SEC probe?
CALCULATION OF REGISTRATION FEE
Title of Each Class of Securities to be Registered
Amount to be
Registered
Proposed
Maximum
Offering Price
Per Share
Proposed
Maximum
Aggregate
Offering Price
Amount of
Registration
Fee
Common shares, par value $0.01
35,260,089 common shares
$22.61 (1)
$ 797,230,612.29 (1) (2)
$92,399.03
* Mr. Economou may be deemed to beneficially own 36,363,639 Common Shares as follows: (i) 12,000,000 Common Shares owned by SPII Holdings Inc., a Marshall Islands corporation controlled by Mr. Economou; (ii) 9,818,185 Common Shares owned by Sierra Investments Inc., a Marshall Islands corporation controlled by Mr. Economou; and (iii) 14,545,454 Common Shares owned by Mountain Investments Inc., a corporation controlled by Mr. Economou.
(1) Calculation based 67,911,072 Common Shares issued and outstanding as of September 1, 2017.
DryShips Inc. Announces Reverse Stock Split 1-7
ATHENS, GREECE -- (Marketwired) -- 07/18/17 -- DryShips Inc. (NASDAQ:DRYS) (the "Company" or "DryShips"), a diversified owner of ocean going cargo vessels, announced today that its Board of Directors (the "Board") has determined to effect a 1-for-7 reverse stock split of the Company's issued common shares. At the Company's annual general meeting of shareholders on May 2, 2017, the Company's shareholders approved the reverse stock split and granted the Board, or a duly constituted committee thereof, the authority to determine the exact split ratio and proceed with the reverse stock split.
The reverse stock split will take effect, and the Company's common shares will begin trading on a split-adjusted basis on the Nasdaq Capital Market as of the opening of trading on July 21, 2017 under the existing trading symbol "DRYS". The new CUSIP number for the common shares following the reverse stock split is Y2109Q705.
When the reverse stock split becomes effective, every seven shares of the Company's issued common stock will be automatically combined into one share of common stock. As of the date of this press release, the Company had 36,296,095 common shares issued and outstanding. Effecting the reverse stock split will reduce the number of issued and outstanding common shares to approximately 5.2 million shares.
Kalani is the diluter!!!!! Toronto real estate tycoon is behind $450m DryShips deals
Hedge fund manager also revealed as investor in Top Ships and Diana
A real estate heir has emerged as the man behind the mysterious Kalani Investments, which is pumping nearly $450m into George Economou-led DryShips.
A TradeWinds investigation reveals that Toronto-based hedge-fund manager Marc Bistricer and his firm Murchinson Ltd are behind Kalani, which has also invested a further $160m in fresh equity into two other Greek companies, Top Ships and Diana Containerships.
This will surprise many observers, who had assumed Kalani to be yet another private business of Greek shipowner
Who keeps buying this Shat? even penny stock traders woukld be a fool to buy DRYS. There is NO upside when another 109M shares need to be sold.
As previosly stated "a fool and his money are soon parted"
Poet Thomas Tusser in 1557 stated that: "A fool and his money are soon parted": And So it goes on 460 years later with DRYS investors looking for the quick rebound score....NOT!!!!!
This expression has been around since at least the year 1557, as it was used by the poet Thomas Tusser. He wrote a poem called Five Hundred Points of Good Husbandry, and the saying can be found within: "A foole and his money be soone at debate: which after with sorow repents him too late."
GE MAKES TENDER OFFER! How's this for a thought. GE makes an outrageous offer for all outstanding stock at 2 times market after next R/S and takes DRYS private. Total cost to him...4.8M x lets say, $10/share=48 million. Since he already owns all the preferred stock he would be sole owner of 13 ships at stockholders expense for "chump change"
JMO
Kalani not showing as major stockholder! Must be buying and flipping immediately. Anyone able to show how much Kalani holds besides the lies on weekly K-6's?
Ponzi Scheme noted long ago GE is NOT going to give up control at any cost! He is building a shipping dynasty at shareholders expense. Many of his "new" purchases were from his sister's company and I'm sure from other connected insiders.
JMO
Suckers like us just bought GE a fleet of 32 ships with no liability other than a $150 million loan to Korean bank. Soon the stock will be diluted to a point where the equity of shareholders will be nearly zero and his company will be earning mega bucks on operation commissions.
Will we ever see an up tick in DRYS again?
1 share pre-cumulative split is equal to 0.000002 shares The cumulative reverse stock split between March 11, 2016 and May 11, 2017 stands at 1 -for-336,000.
25 x 4 x 15 x 8 x 4 x 7=336,000
11,808M Revenue, 7,969M Vessel Op costs, 8,713M Gen' & Admin costs.
Guess what stockholders, GE is also raping company along with stock manipulation!!
Financial Report shows 1-for-48,000 share reverse split between 3/11/16 & 4/11/17. Does NOT include 1-for-7 effective today.
Can't do the math but we sure have been screwed to the deck!!!
JCP..308 million shares minus legal fees results in approx $0.10 per share. Any settlement from DRYS would be $0 based on the many dilutions and contracted liabilities to all the "connected" family menbers.
DRYSHIPS HEADING TO ZERO....READ ARTICLE!!
https://seekingalpha.com/article/4064633-dryships-heading-zero
The Simple Reason Why NOT to Buy DryShips Inc.
www.fool.com/investing/2017/04/19/the-simple-reason-why-i-wont-buy-dryships-inc.aspx
tdogwm Read this f-3/a at top of Posts
DRYS News: Securities Registration (foreign Private Issuer) (f-3/a)
DRYS MGMT ADVISING US NOT TO BUY!!
Investors may experience significant dilution as a result of future offerings.
We may have to attempt to sell shares in the future in order to satisfy our capital needs; however there can be no assurance that we will be able to do so. If we are able to sell shares in the future, the prices at which we sell these future shares will vary, and these variations may be significant and our existing shareholders may experience significant dilution if we sell these future shares to other than existing shareholders pro rata at prices significantly below the price at which such existing shareholders invested.
We may issue additional shares of our common stock or other equity securities without your approval, which would dilute your ownership interests and may depress the market price of shares of our common stock.
We may issue additional shares of our common stock or other equity securities of equal or senior rank in the future in connection with, among other things, future vessel acquisitions, repayment of outstanding indebtedness, or our equity incentive plan, without shareholder approval, in a number of circumstances.
Our issuance of additional shares of our common stock or other equity securities of equal or senior rank would have the following effects:
·
our existing shareholders' proportionate ownership interest in us will decrease;
·
the amount of cash available for dividends payable on our common shares may decrease;
·
the relative voting strength of each previously outstanding common share may be diminished; and
·
the market price of shares of our common stock may decline.
RISK FACTORS IN DRYS EXPLAINED! Even the company is telling us we are fools to buy their stock!!
Investors may experience significant dilution as a result of future offerings.
We may have to attempt to sell shares in the future in order to satisfy our capital needs; however there can be no assurance that we will be able to do so. If we are able to sell shares in the future, the prices at which we sell these future shares will vary, and these variations may be significant and our existing shareholders may experience significant dilution if we sell these future shares to other than existing shareholders pro rata at prices significantly below the price at which such existing shareholders invested.
We may issue additional shares of our common stock or other equity securities without your approval, which would dilute your ownership interests and may depress the market price of shares of our common stock.
We may issue additional shares of our common stock or other equity securities of equal or senior rank in the future in connection with, among other things, future vessel acquisitions, repayment of outstanding indebtedness, or our equity incentive plan, without shareholder approval, in a number of circumstances.
Our issuance of additional shares of our common stock or other equity securities of equal or senior rank would have the following effects:
·
our existing shareholders' proportionate ownership interest in us will decrease;
·
the amount of cash available for dividends payable on our common shares may decrease;
·
the relative voting strength of each previously outstanding common share may be diminished; and
·
the market price of shares of our common stock may decline.
WHOSE USED SHIPS IS HE BUYING? DOES ANYONE KNOW. I CAN'T FIND ANY NEWS ON THE SELLER. BUYING HIS OWN?
THE NUMBERS DON'T LIE If a stock violently drops 1,000% in less than 3 months, it's obvious that shorting and naked shorting is taking place. In my 55 years of trading I have NEVERseen such abuse of a companies fiduciary duty to it's stock holders abused such as this stock.
Anyone who thinks there is value in this stock is beyond an optimist . This CEO will continue to dilute until there is no stockholder value left. As another post stated, GE will buy the company back with his preferred stock and the common stock holders will have funded the transaction.
DryShips: Who Is Behind Naked Shorting Anyone in this stock to make money is in need of a Financial Planner. Cut and paste article and weep.
https://seekingalpha.com/article/4063027-behind-dryships-naked-shorting?auth_param=1e2ra6:1cfc7mm:f79fb6afc85c3a6eda86686bdcdfa9e1&dr=1&utoken=25e01a8c1a5d8f5641f71c030bc13a752c7b8d06#alt3
$2 BILLION...YES BILLION IN NEW STOCK REGISTRATION!!
An indeterminate aggregate initial offering amount or number of common stock, preferred stock, preferred stock purchase rights, debt securities, warrants, purchase contracts, rights and units are being registered as may from time to time be issued in primary offerings at indeterminate prices in an aggregate amount not to exceed $2,000,000,000 or the equivalent thereof in foreign currencies. Also includes such indeterminate amount of debt securities and number of common shares and preferred shares as may be issued upon conversion or exchange for any other debt securities or shares of preferred stock that provide for conversion or exchange into other securities.
(2)
Estimated solely for the purpose of calculating the registration fee pursuant to Rule 457(o) under the Securities Act of 1933, as amended. Pursuant to General Instruction II.C of Form F-3, the table does not specify by each class information as to the amount to be registered or the proposed maximum aggregate offering price. Any securities registered hereunder may be sold separately or as units with other securities registered hereunder. In no event will the aggregate offering price of all securities sold by DryShips Inc. pursuant to this registration statement exceed $2,000,000,000.
NOT ENOUGH INCOME FROM ALL SHIPS GOING FOWARD TO SUPPORT THE NUMBER OF SHARES OUTSTANDING. THAT IS WHY IT IS TRADING AT $0.63. IF drys WERE WORTH MORE, IT WOULD BE TRADING HIGHER....SIMPLE AS THAT!!
FUN TO DAY TRADE BUT NOT FOR ANY MAJOR GAINS AS LONG AS KALANI & GE & SIPROS ARE INVOLVED (WHICH THEY ARE)
DOES ANYONE READ MY POSTS? WHY WOULD ANYONE THINK THEIR IS OPPORTUNITY IN THIS STOCK..READ MORE
WHO WOULD BUY THIS POS? PONZI SCHEME REVEALED
CEO George Economou from Dryships Inc (DRYS: Nasdaq) took the “ death spiral ” and added a unique spin to it. In the Economou version, he “death spirals” his own stock through an independent party named Kalani.
DRYS has now undertaken a few variations of this theme, but the basic underlying trend is that DRYS sells shares to Kalani at a discount to market and Kalani then sells them into the market as rapidly as possible so that Kalani can reload and earn the spread between the price they buy them from DRYS at and what they can sell them for. In the process, the share price of DRYS has been in freefall.
Now, you have to be asking the question; why would Economou want to purposefully crash his share price? I don’t think he cares what happens to the share price, beyond propping it up sufficiently to sell more shares. His goal is to load DRYS up with cash from the share sales so that his private entities can extract value through fees and asset sales to DRYS at inflated values. It’s a unique spin on the host-parasite relationship.
WHO WOULD BUY THIS POS? PONZI SCHEME REVEALED
CEO George Economou from Dryships Inc (DRYS: Nasdaq) took the “ death spiral ” and added a unique spin to it. In the Economou version, he “death spirals” his own stock through an independent party named Kalani.
DRYS has now undertaken a few variations of this theme, but the basic underlying trend is that DRYS sells shares to Kalani at a discount to market and Kalani then sells them into the market as rapidly as possible so that Kalani can reload and earn the spread between the price they buy them from DRYS at and what they can sell them for. In the process, the share price of DRYS has been in freefall.
Now, you have to be asking the question; why would Economou want to purposefully crash his share price? I don’t think he cares what happens to the share price, beyond propping it up sufficiently to sell more shares. His goal is to load DRYS up with cash from the share sales so that his private entities can extract value through fees and asset sales to DRYS at inflated values. It’s a unique spin on the host-parasite relationship.
Kalani Buys 35.6M @ $1.08 Today. See 6-K
As previously disclosed, DryShips Inc. (the "Company") entered into a common stock purchase agreement (the "Purchase Agreement") with Kalani Investments Limited (the "Investor"), dated as of April 3, 2017, relating to the public offering by the Company of (i) up to $226.4 million of the Company's shares of common stock, par value $0.01 per share, to the Investor over a 24 month period (the "Shares") and (ii) up to an aggregate of $1.5 million of shares of the Company's common stock, par value $0.01 per share, issuable to the Investor as a commitment fee in consideration for entering into the Purchase Agreement . Capitalized terms used herein and not otherwise defined have the meanings given in the Purchase Agreement, which was included as Exhibit 1.1 to the Report on Form 6-K filed by the Company with the Securities and Exchange Commission (the "SEC") on April 3, 2017.
As mutually agreed to by the Company and the Investor, the Company sold 35,692,576 Shares to the Investor, pursuant to a Fixed Request Notice with a Fixed Amount Requested of $45.0 million following a Pricing Period from April 3, 2017 to April 7, 2017, which the Company expects to finally settle on April 10, 2017. The Fixed Request Amount was $38.4 million, subject to a price per share of approximately $1.08 mutually agreed to by the parties , resulting in estimated net proceeds of $38.1 million, after deducting the Company's estimated aggregate offering expenses.
Following the settlement for all of such Shares sold as of the date hereof, the Company will have a total of 188,043,945 shares of common stock outstanding, prior to the previously announced 1-for-4 reverse stock split that will take effect as of the opening of trading on April 11, 2017. As of the date hereof, up to $188.0 million of the Shares is remaining that the Company may sell pursuant to the Purchase Agreement.
The information contained in this report on Form 6-K is hereby incorporated by reference into the Company's registration statement on Form F-3 (File No. 333-202821) that was filed with the SEC and became effective on May 7, 2015.
Rosen Law Firm www.rosenlegal.com Rosen Law Firm, a global investor rights law firm, involves with class action suits. Anyone on this post that wants to contact them and be a plaintiff, include me and whoever else. They have a good history representing shareholders.
True Value of your DRYS Stock! On March 15, 2017 (the "Record Date"), the Company had issued and outstanding 143,572,689 shares of common stock, par value $0.01 per share (the "Common Shares") and 29,166 Series D Preferred Shares, par value $0.01 per share (the "Series D Preferred Shares" as listed on their SEC filing. Does not include current Kalani issue!
Greased by the Greek For all you old timers, you know what i am referring to. I have been posting for the past 2 weeks that this was nothing but a ponzi scheme on stockholders. Makes ENRON and Bernie Madoff look like amateurs. There is NO upside to this stock at this time IMO. The winner is GE who gets a newer fleet to fleese the profits from for his own personal financial gain. When delisted, he will still be operating the ships for the fees that he is paying his operating company and the shareholders will be filing a tax loss including myself.
GE Could be Forrest Gump in disquise All these boats are Shrimpers piloted by Cap'n Dan
Major financial losses if bought since 1/1/17 Unless you are just playing with chump change or learning how to play the stock market (and lose $$$) there is no fundamental financial justification for owning this POS. The whole company is a scam headed by GE. Kalani, Sifnos Investment and GE's other affiliated companies are using DRYS stock as a bankroll to buy ships that they will ponzi again after they are delisted from NASDAQ just like they did before
DEVILS IN THE DETAILS! $1.5Million commitment fee to Kalani (GE in veil for free money) and purchase of 2 VLGC's from company affiliated with GE. We are all being played as suckers to this man's stock manipulations. Every weekend more stock issued to Kalani, more ships purchased from "no one knows" and lower stock price on the Monday following.
TITANIC vs DRYSHIPS ON PARALLEL:The Mystery of DryShips
Despite being one of the most traded stocks by volume on the market, it's hard to say what DryShips really is. On the surface, the company represents itself as a diversified owner of ocean cargo vessels that operate worldwide. While DryShips owns a sizeable fleet of assorted sea-based shipping vehicles that is continuing to grow, the company has experienced a marked decline in revenue while hemorrhaging cash over the past two years. While DryShips' valuation correspondingly declined over this period, shares rallied significantly over the past week as the company announced the acquisition of four bulk carriers for $124 million.
A Completely Unnatural Ability to Raise Capital
DryShips, for better or for worse, has never experienced any problems in continuing operations, even despite the troubling operation concerns in cash flow and revenue shrinkage. Although investors have been excited by the recovery of dry bulk shipping rates, this fails to account for the incredible ease DryShips has been able to aggressively and repeatedly conduct capital raises to grow its fleet of ships. With income statements revealing the burn rate continuing to get worse, the company's ability to receive capital injections and invest in very expensive shipping vehicles is shrouded in mystery. By almost any standard understanding of capital markets, this is ridiculous.
DryShips' strong access to capital makes even less sense when its industry is considered. Investors are typically wary of capital raises by shipping companies. This stems from an extensive history of such companies overinvesting in their fleets beyond their means of expansion. Terrible capital allocation is fairly common for shippers and where they frequently drown the earning potential of hundreds of millions of dollars when said companies are unable to find a profitable use for newly acquired shipping carriers.
Cash Is Dwindling, That Raise is Coming
The company reported $243 million in cash on hand at its last fourth-quarter results. Although this seems like a tremendous amount of cash, the impact is diminished by the complete lack of positive cash flow in addition to the company's recent $124 million acquisition, implying cash levels are currently below $110 million accounting for the accelerating burn rate.
Based on current information, it seems unlikely that DryShips will be able to achieve any meaningful level of profitability over the next two years. With recent acquisitions impacting the company's financial liquidity, one can only assume another raise is in short order for DryShips.
Mystery Investment Group Will Dilute All Shareholders
Because DryShips just seems to lack the ability to say "no" to sources of capital, existing shareholders should just expect to get diluted down to nothing eventually. This isn't an exaggeration; look at the last two equity rounds announced within just two months of each other from December 2016 and February 2017.
When the first round was announced late last year, it was announced that the $200 million stock offering could take up to 24 months to complete, it completed in under 40 days. Less than a month after completion of the first round, an offering with the exact same terms was announced again. Representing a massive total of $400 million, completion of this financing probably blew out any previously existing shareholders.
What's worse is that proceeds from these offerings went on to purchase speculative investments such as oil and gas tankers. This shouldn't come at a surprise though, DryShips has an established five-year history in really destroying shareholder value, and it's nearly an art form now.
The most important question remains, what entity provided DryShips such substantial and rapid access to capital, not once- but twice? That would be Kalani Investments Limited ("Kalani"), an "entity apparently unaffiliated" with the Company. Despite the group being capable of fully exercising $ 200 million + offering in under a month, nobody else had heard of the group until their involvement with DryShips. With little proof of Kelani actually existing in the function of an investment group, some investors suspect Kelani may actually be a puppet controlled by the head of DryShip.
So Is DryShips Actually Improving, or will it sink like the Titanic?
Like one of the seven wonders of the world, the tremendous liquidity of DryShips is a sight to behold. A number of investors have likened the company to the Titanic, a ship shrouded in mystery and intrigue that sank in the early 20th century. While DryShips hasn't sunk yet, many seem to believe that the company will suffer the same fate.
This is highly unlikely, as seen with Ocean Rig's bankruptcy proceedings, the CEO realizes that his public companies are incredibly important for his success. That being said, it's hard to imagine that the company will ever become profitable or even viable as a long-term investment, given the random nature of its substantial acquisitions, and the rapid dilution from Kelani's $200 million stock offerings. At the very least, betting on a turnaround could be like staying on the Titanic.
GREECED AGAIN! Or is is F**Ked again by the Greek?
WOW $100. MOVE OVER WARREN BUFFETT. ORCA IS TAKING OVER THE MARKET!!!!!
Blatant manipulation that is why. SEC usually regulates "unusual" activity and takes action. Some reason this stock slips through cracks. Could it be that it is traded mostly by novices?
JMO
Issue Preferred stock to GE, Common Stock useless! GE ends up with ownership of ALL profits!! Simple why new prospectus issued this AM. (For you novice traders, preferred stock holders get dividends before common stock holders)
JMI
StockWhale, you have a better chance of getting harpooned than DRYS hitting 3 never mind 10