FreeSeas Inc fka FREEF

[MACH1]

FREE$ What Bank in their right mind would

completely lay the RED CARPET out and give a struggling shipping company a new lease on life? You gotta think that the bank has to know something. Why else would they forgive essentially 29 mil and two vessels free and clear? OK, since you asked... My theory is that FREE knew it couldn't make it to a buck on it's debt and past RS history this year, so they struck a deal with the bank. You know the bank is going to get paid and without the debt cloud and vessel payments looming the bank knows they have a better chance to stay on NASDAQ, which I'm sure the bank is hedging that way. Today we closed at a 1.33 mil market cap. That's a joke when you add both vessel assets and 2.5 mil in cash to work with. They don't even have to make any more payments on two vessels. What's that worth a month? How much higher will all this drive their gross profit?

They only have a 3.7 million float, according to yahoo finance, and we traded approx. 73 mil this week alone. If we can get rid of the day traders that are flipping this for 2 and 4 cent profits, then we could see a nice steady climb to a buck. I expect a big PR or two that'll ignite the bulls and drive this to a buck creating a short squeeze well before Dec. 1.

To my point about volume. The last two days were low volume sell offs, which leads me to believe that shares were flipped into stronger hands.

Bottom line IMO, this company is set up for success with a growing market made possible through the debt forgiveness of Deutsch Bank. If FREE can't make this work then we've all been dooped. LOL!

Remember, the 52 week high is $5.80. My bet is on Deutsch Bank making sure this stock gets there. I bet they have great incentive to make that happen. Why else would they put their money on the line without knowing the probability of success?


Say what you will, but this is my story and I'm stickin' to it!! LOL!

GL out there these are shark infested waters. Do the DUE!!


Athens, Greece, Aug. 5, 2013 (GLOBE NEWSWIRE) -- FreeSeas Inc. (Nasdaq CM: FREE) ("FreeSeas'' or the "Company''), a transporter of dry-bulk cargoes through the ownership and operation of a fleet of six Handysize vessels and one Handymax vessels, announced today that the previously announced agreement (the "Agreement") among Deutsche Bank Nederland N.V.(the "Bank"), the Company, various wholly-owned subsidiaries of the Company and Hanover Holdings I, LLC (the "Investor") is effective with the deposit of $2,539,657 into an escrow account. The Bank, the Investor and the Company are committed for a smooth execution of the transaction as per terms of the Agreement.

Pursuant to the terms of the Agreement, the Investor has agreed to purchase USD 10,500,000 of outstanding indebtedness owed by the Company to the Bank, out of a total outstanding amount owed of USD 29,958,205.28, and to undertake and guarantee its settlement subject to the satisfaction of a number of conditions. Upon settlement of the Investor's obligations to the Bank, the remaining outstanding indebtedness of FreeSeas and its subsidiaries to the Bank shall be forgiven, and the mortgages of both of its two security vessels discharged.