Yea everybody buy this share, no dilution.
a) As per 20-F the company has 1,7mil. stock-based compensation to provide to President and major owner Bertsos and 2 BoD members. Only 1,5mil. attributable to Bertsos are restricted for 4 years, nevertheless he has established a RS protection clause in his contract, just read it. 1,5mil. worth of shares are to be issued to Bertsos wirhin 60 days of May 15, 2017, it;s in their 20-F.
b) 230k. of convertible debt capital,
c) 7,49mil. (yes milions) of derivative liability of convertible debt
d) 654k. accrued interest out most of which is related to convertible debt,
e) Vessel value is around 4,5mil. as this is what you get for a 1996 vessel with these specifics nowdays,
f) And there are people that have allocated a pps value to the shares they wish to trade,
g) Let's wait until the company sells th vessel and see whether they will repay their convertible debt with the excessive cash or with dilution,
And also bare in mind that they have not included in their 20-F the dilution from debt conversion as a risk to the shareholders,
They only own 1 vessel and have not yet published the Financial Statements they are obligated to. Each FPI has to publish year end and one "interim: period statements, so during 2017 BSTN should publish for example June 30 2017 or September 30 2017 statements and during 2018 they should publish December 31 2017 statements. So let's just wait to see when they will publish June 30 or September 30 statements.
Buy this share and hold it tight
