From my point of view. They sold ships to taken care the lenders settlement all of their debts. Therefore.. the next step is to pay dividend for the preferred shareholder. Who else holding more Preferred than the insiders? I have posted here explain how much cash flow they have on hand & that should be more than enough to pay for dividend.
Make no mistake: This is their game plan to get pay as well. When the dividend is announce, TEUFF PPS will move much higher than their current estimated sold the vessel $1.50 and at that point they can easily executed the option to buyback 3 ships.
It's clear they do not want us to know the dollar value of the 3 ships they sold. It's easy to understand because they do not wanted the PPS to increasing so much higher. The higher PPS the higher amount they have to settle with the lender.
I have challenge everyone here to figure out $1.50 far market value of the 3 ships they sold.
What exactly $1.50 that transfer into how many of million of dollar? or How much equal to PPS to consider that is the far market value?
Think about it. This is all part of their game plan. Smart investor who's manage to figure that out ahead of the game will become very richer.
ABSOLUTELY NO BODY CRAZY CALLS ALL PREFERRED INVESTORS, OFFER TO PAY DOUBLE AMOUNT TO GET THE PREFERRED SHARES OFF INVESTORS HAND IF THERE IS NOT A HUGE MONEY TO BE MAKE.
I have not sold a single shares since the price spike above 4 cents. Matter of fact.. I bought a lot more at the lowest pps level.
I told everyone here absolutely no BK. I am willing to bet they will announce the dividend payout first week or the second weeks of Jan, 2017. IMHO.
Mark this post.
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