Replies to post #302 on Genco Shipping andTrading Limited (fka GNKOQ)

[Steady_T]

That has NOTHING to do with the present situation that gnkoQ is in.

The present shareholders, including institutions, will be wiped out.

They will get very high strike priced warrants in return.

So lets review.....

Present shareholders stock will go to ZERO value. Presently valued at $1.78 per share.

In return for the value going to ZERO, present shareholders will warrants representing 6% of the stock that they presently own 100% of, that may or may not have ANY VALUE. Of course the good news is, you may have to wait up to 7 years to find out if those warrants ever have any value.

Sounds like a solid investment in hopium.