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Euroseas, Ltd. Message Board

  • acebear01 acebear01 Mar 27, 2013 10:23 AM Flag

    Answers.

    Once again...I've proven if you don't do your own research you will get wrong answers. Bronfree76 is not correct. This company ESEA owns about 14.8% of a JOINT VENTURE in this shipping business....the other over 85% is owned by TWO "private" capital management companies. The total three "entities" are called Euromar LLC. That means....as I understand it.....that if ESEA reduces it's dividend further or doesn't pay any dividend (which it can do at any time).....the stock wold TANK,.,,,and NONE of the equity in the ships could be counted if they went bankrupt. Their only assets are the STOCK CERTIFICATES of ESEA itself.

    Also...in ESEA...there hasn't been an insider stock purchase in 5 years. The dividend payment has been decreasing lately.

    In a context of Westen capitalism's rip-off philosophy of a debt-ridden, austerity-sucking "public" and favoritism of little "rich boys".....I wouldn't put a dime in this company.

    Given the historical Mother of All Rip-offs....the price of gasoline for the "summer driving season".....the only places to be are in OIL and/or GOLD and SILVER IMO.

    Have a nice day.

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    • No disrespect, but more or less the whole post is factually incorrect. Euroseas owns a fleet of 15 ships. Each ship is held individually as a whole owned subsidiary. ESEA itself is incorporated in the Marshall Islands. The various ships are held in "flags of convenience" shipping nations including the Marshalls, Panama, Liberia, etc. This is done by everyone in shipping so that if one ship sinks and spills some oil on a remote reef that kills an african spotted guppy, one ship gets sued not the fleet. As an example. Euroseas ALSO owns part of the Euromar JV. Their stake is closer to being 14.28%, but close enough. Euromar currently has a fleet of 10 ships. No insider purchase in 5 years? The same insiders that hold 45% of the company? The same ones that everyone was screaming about during the rights offering that they owned TOO MUCH of the stock? The insider shares are owned through Freinds Investment Corp. by the way, which is more or less the Pittas family. I personally could care less if you or anyone else invests in the company. Make sure your research is correct before posting it on a public board. Regards.

 
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