Wednesday, May 21, 2014 7:29:43 AM
Does that quote not completely contradict everything it is you preach here every day? That its a scam company, there is no plan, theyre not trying to do anything theyre just selling shares, everythings a lie? Sounds like to me they were really trying to do what they announced before, but being in october, just a few months after an unexpected drop in pps occurred from notes that were not known by peter to exist being converted into hundreds of millions or more idk, the financing agreement they had for the ionian was canceled because the share price was too low then. His revenue generating plan had to change at that point, then with all the lawsuits coming in the co had to pay for legal help. Increasing shares while trying to find financing which at that point is impossible. So without a RS whats there to do? Do what you can with the little money you can get from a pps this low (which isnt acquiring a ship) and clear up debt and legal mess.
"while the Company underwent dilution while clearing up the balance to be able access a line of credit
that will enable them to scale up revenue generating activities.
" I think Peter got screwed with the whole situation if you ask me. Yes he was defaulted with loans, but he was probably expecting to be generating revenue from the ionian and possibly nissos rodos also to be able to pay them. The unexpected drop in PPS from Ayers and Salmon converting notes that Peter and the company never knew they had (confirmed by Seaam) took that opportunity away and screwed their financing options. So without the revs to pay for the legal mess and notes you have the stock dilution. Now its up to people decide how they take this statement from the companys quarterly.
while the Company underwent dilution while clearing up the balance to be able access a line of credit
that will enable them to scale up revenue generating activities.
Of course just my thought of it all
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