Thursday, March 31, 2022 1:06:42 PM
Under ticker IMPPP. Trading at $22.25 currently.
If you look at the balance sheet, there wasn't a need for share issuance to cover the dividend. There is positive cashflow to cover it.
I am sure in this instance they did use dilution to cover it, as they are acquiring new vessels off the back of diluting investors.
Acquisition of vessels brings me to the next point. Depreciation. Although they are cashflow positive, their balance sheet reports negative because they are depreciating a large percentage of the value of the vessels.
Considering they have stated they will continue to purchase vessels. This will lead to more depreciation. Which leads to more negativity associated with the stocks balance sheet.
This will lead SP lower, and management knows this. Interest here is gone. They obviously want this below one dollar and soon to be delisted. This will allow them to go bankrupt and buy this company back for pennies on the dollar after they've built it off the back of investors.
If they cared about the company, they would have ATM offerings at around 5-6$... But they were only concerned with satisfying the underwriters who found themselves in trouble and in jeopardy of being able to afford their Manhattan lifestyle.
Recent IMPP News
- IMPERIAL PETROLEUM INC. Declares Dividend on Series A Preferred Shares • GlobeNewswire Inc. • 06/13/2024 01:20:00 PM
- Imperial Petroleum Inc. Reports First Quarter 2024 Financial and Operating Results • GlobeNewswire Inc. • 05/16/2024 12:15:00 PM
- Imperial Petroleum Inc. Announces the Date for the Release of First Quarter 2024 Financial and Operating Results, Conference Call and Webcast • GlobeNewswire Inc. • 05/14/2024 12:30:00 PM
- IMPERIAL PETROLEUM INC. Declares Dividend on Series A Preferred Shares • GlobeNewswire Inc. • 03/14/2024 08:45:00 PM
- Imperial Petroleum Inc. Reports Fourth Quarter and Twelve Months 2023 Financial and Operating Results • GlobeNewswire Inc. • 02/13/2024 02:15:00 PM
- Imperial Petroleum Inc. Announces the Date for the Release of Fourth Quarter and Twelve Months 2023 Financial and Operating Results, Conference Call and Webcast • GlobeNewswire Inc. • 02/09/2024 02:10:00 PM
- Imperial Petroleum Inc. Announces Conversion of Outstanding Series C Convertible Preferred Stock • GlobeNewswire Inc. • 12/22/2023 02:20:00 PM
- Imperial Petroleum Inc. Declares Dividend on Series A Preferred Shares • GlobeNewswire Inc. • 12/14/2023 02:15:00 PM
- Imperial Petroleum Inc. Announces Repurchase of 3.2 Million Warrants • GlobeNewswire Inc. • 12/06/2023 02:28:00 PM
- Imperial Petroleum Inc. Reports Third Quarter and Nine Months 2023 Financial and Operating Results • GlobeNewswire Inc. • 10/25/2023 01:20:00 PM
- Imperial Petroleum Inc. Announces the Date for the Release of Third Quarter and Nine Months 2023 Financial and Operating Results, Conference Call and Webcast • GlobeNewswire Inc. • 10/20/2023 01:20:00 PM
- Imperial Petroleum Inc. Announces Repurchase of 2.58 Million Warrants • GlobeNewswire Inc. • 10/09/2023 01:10:00 PM
- IMPERIAL PETROLEUM INC. Declares Dividend on Series Preferred Shares • GlobeNewswire Inc. • 09/15/2023 01:15:00 PM
- Imperial Petroleum announces $10 million share repurchase program and agreement to acquire two vessels • GlobeNewswire Inc. • 09/07/2023 01:15:00 PM
- Imperial Petroleum Inc. Announces Pricing of Approximately $17.0 Million Registered Direct Offering • GlobeNewswire Inc. • 08/11/2023 12:30:00 PM
- Imperial Petroleum Inc. Reports Second Quarter and Six Months 2023 Financial and Operating Results • GlobeNewswire Inc. • 08/10/2023 01:15:00 PM
- Imperial Petroleum Inc. Announces the Date for the Release of Second Quarter and Six Months 2023 Financial and Operating Results, Conference Call and Webcast • GlobeNewswire Inc. • 08/08/2023 01:20:00 PM
- Imperial Petroleum Inc. Announces the Sale of Its Aframax Tanker • GlobeNewswire Inc. • 07/17/2023 01:15:00 PM
- Imperial Petroleum Inc. Announces Completion of Spin-Off of C3is Inc. • GlobeNewswire Inc. • 06/21/2023 08:45:00 PM
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