These 6 rigs, were supposed to making big profits by now.. Yet in Feb.. Drys took out loans for $210M, sold 3 panamax for about $120M, cash.. And now have turned around and sold $100M worth of Orig stk?? And that is while, Orig is generating about $280M, in this qtr!! There is nothing that indicates why they would need all that cash (this qtr, $710M)!!! Seems like all the Drys investors have ended up with from this Gold mine, is the shaft and Geo is obscounding with the gold!!! Everybody should go back and read the yr end resuts from 05 till now.. And ask themselves where all those profits went to?? And now we are sitting here with about $5B debt.. You might also want to ask, where about $2B from the sale of stk went to also???
And your trying to make a case about what makes sense? Nervouse, compulsive desperation and high anxiety disorder - that's what makes sense. Go back to bed. You're insane delerium has always been a problem for you but you'll be in the nut house sooner than your trading account goes bust.
Up till I read that last earnings report.. I was fully invested in Drys!! I was willing to give Geo the benefit of the doubt??? Now I am convinced he has lost his mind and his one objective is to drain the stk holders dry!!! Up till that last earnings report.. I would have never went back and looked at anything that had went on past the last year or so, "And he has become filthy rich".. But anybody who isn't questioning where all the money went from selling about 400M shrs of Drys stk into the mkt(maybe $2B to $3B), in the last few yrs.. borrowed about $5B, and all the profits from those bulkers have vanished!! And anybody who isn't questioning why he just raised about anouther $710M thru debt and selling assets, should lose their money!!! Talks all that BS you want to!!! Best I can figure, there is a few billion, that ain't showed up on those earnings reports, when you go thru the figures... I think I know where those billions went!!!
When reading those earnings reports.. Remember this.. They are unaudited... And Drys(Orig) are not subject to reporting, like U.S. Cos.. Bottom line: They may be able to report, what they chose, and leave a lot of stuff out??? Was that 100M shrs, that were sold into the mkt last yr.. Actually issued to Geo and he sold them into the mkt and kept all those revenues??? Can you find where any of the revenues from selling all that stk, shows up anywhere on the earnings reports?? When you see where Geo has come in 7 yrs.. Makes you wonder.. In 05 had 6, 19 yr old rust buckets, which he probably borrowed the money to buy them... IPOed them!!! Now!!!