Genco Shipping andTrading Limited (fka GNKOQ)

[eddy2]

They can't force you to buy equity that is extortion but what you can do is sell the warrants but there will be a time limit as to how much time you will have to do that. it is called having first rights to new shares at a discount to the strike price in other words interest payment for the borrowing of equity as well as a way to avoid dilution due too fractional shares cause of the huge number of shares sold of late and into the future.


They are giving shareholders an option of dilution or no dilution I would opt for the later my self of those two options or better yet stay clear of the whole thing and trade the stock.



She can be a dirty game. Insiders wrack up personal debt on up grading equipment as revenue drops when equipment is taken out of service and equipment under a private ownership takes the place of the old equipment at crazy lease prices but hey they all do it these guys are just a little nicer then most letting you still have the chance to stay in the game with new up dated equipment coming on line.



They are taking a risk as well the collateral in homes and cars they must of put up to secure the loans is crazy so be thankful for small miracles I would say.