DryShips Inc (fka DRYS)

[Net-Man]

The current cash out value of DRYS is ~.50/share. It is also easy to forget that at the moment DRYS does operate 39 ships + 5 tankers. The tanker sale should close by next week and the most recent announcement for the Capes and 4 Panamax won't take place until some unknown date in 4Q. 3Q still looks like .05-.06 ebitda and break even bottom line.

No word on whether the NASDAQ extension has been requested. That deadline is 10/12. It will bode extremely well for DRYS if the extension is requested and could easily double the current pps. However, if GE does not request the extension, DRYS will most likely become a private company.

No matter how you slice this up though, DRYS is worth much more than the current pps.