DryShips Inc (fka DRYS)

[Blingsauces]

I have seen some reports that suggest a 1 for 4 is all that is left on the May 2nd authorization... A 1 for 7 may require approval from the shareholders... Is hitting the 1 for 1000 max authorization if he does more than 1 for 4... He may have a tough time getting approved for larger at this moment

This is based on GE's preferred shares being diluted along with common shares and him no longer being able to out vote commons anymore...

Possibly making a 1 for 7 difficult to approve... It also suggested DRYS could issue/sell however him more preferred super voting shares to take back control ...

Buyer beware... I took my haircut and am kicking myself for going long instead of short for the first time since Feb...

Ah well my next short here will more than make up for my .45 a share loss in the under 24 hours I was long