Low float ? Where did you get that information?
SHARES OUTSTANDING
37.88M
PUBLIC FLOAT
32.64M
What would you do to get the PPS back above $1.00 to stay on exchange ?
Todd can borrow all the money he can, but he lacks the revenue to pay it back. Burning through losses of $8-$10 million a month, more than half of the fleet has no real value and needs to be written off the books and sold for scrap. HOSed is insolvent in my opinion.
The R/S is unavoidable in my opinion.
Have you been to Fourchon lately ? Leeville? Morgan City ?
Have you searched the fleet using AIS ? Most of The fleet just sits. 0.0 knots. Going nowhere except to the scrapyard.
Think of the 3 boats Todd purchased with other people’s money. 3 Big boats, $33 million.? Almost new boats. 10-12 million each, put right into service while getting painted the HOSed colors.
What is the real value of older, dark stacked, rusting out of service $5 million each to return to classification boats ? Pick it. Not more than $1 or $2 million each, except the $1,500 a day (each)cost to stack this rusting garbage. HOSed liability for a sinking, spillage, you name it. Half the fleet is worthless.
HOSed is done. Turn out the lights. Go have some more drinks at The Chimes. I’ll swing back down I-12 and take a picture.
Gotta go, I think Chouest needs something, LMAO
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