Deep Blue Marine (DPBE)

[evenkeel]

I think you have to look at the math behind the company to see what is happening. Unfortunately they removed all the posts at their blog, but according to the last post the company was spending something close to $80,000 per month and selling close to $100,000 in stock per month to cover those expenses. I think that is about right, I didn't save the exact figures as i wasn't expecting them to delete all their posts like this. In any even they are selling more stock than they have expenses. That is both good and bad, they stay in business which is good, but they dilute the stock heavily which is bad.

On the DR site, I calculate that if DR gets half and the company gets 3/4 of the other half, that ends up being about 38% of the find, and TB gets 12%. So even on a $50 million recovery they end up with only $19 million, before all the expenses and the rest.

Also you can do some research on this ship and see what happened in the battle and how the crew got off and went aboard the assisting vessel. I think a couple of things about this makes it less likely and treasure was left aboard. First was the crew getting off safely, would you leave all that treasure? The second point is the depth of water. If the ship sank in only thirty feet of water and she lay on her side, that still means the ship was only underwater a few feet and easily accessible. Locals may have picked anything clean of any value, not sure but these two things make me wonder about any real valuables being left.

Since the company is already working the site we will see what they find, I hope they find what they want but I doubt it amounts to much. And anyone is free to disagree with this, it is only speculation. But I think it is important to look at the facts around the shipwreck and determine if there is much chance they find enough to make money for shareholders.

Like I said earlier, I already sold my shares but will still follow what happens. And I wish the best for those still sticking it out.