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DryShips, Inc. Message Board

  • jrmills0014 jrmills0014 Jul 23, 2013 12:32 PM Flag

    Figures don't add up!!!

    A few days ago, I told everyone!! Everyone would probably go ecstatic, when Orig leased the last rig coming this yr, and backlog could jump to about $6.5B??? I don't care enough to even try to figure out...Why backlog was about $5B.. And they just reported about an additional $1.4B backlog for that rig!!! And now, they report backlog of $6.1B???? What the hell is $300M to $400M amounst friends?? And don't consider all that backlog as being sure money!!! Last qtr, they reported someone, cancelled a contract, and Orig was to recieve $15M cancellation fees... Seemed like a small amount, as to what it may cost to release it and remobilize it??? And so you won't think, I am completly crazy!! Those are questions I ask myself?? While sitting here and wondering will Orig report earnings or loses, this qtr?? No doubt Drys will report loses!! I think Orig, will report from .10 earnings to a .10 loss??? But never lose sight!! Whatever Orig reports?? Drys may only own about 51% of thier 131.9M shrs?? If Drys reports a 10 cent lose... Its times at least 382M shrs!!! Even thou, the .30 lose per shr, last qtr.. Most of it was a one time lose!! But don't you believe they weren't real loses!!! Drys, has serious problems!!! Orig, with a $6.1B backlog!!! How much more money, will bankers lend against that??? Maybe not a hell of a lot more?? If they have come to same conclusion I have!!! Geo, just takes as much money out of Drys and Orig, thru Cardiff as possible??? Then that is his money!!! All that debt, belongs to Drys and Orig!!!! Should make you proud to own no nothing stks, with all that debt?? In a few yrs, will GE have Orig in same shape as he has Drys??? Debt may be twice, what assets are worth??

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    • maybe the backlog got placed into service or cancelled. Who cares?

      • 1 Reply to pattb99
      • Patti, I done agreed with you.. What difference does $300M to $400M matter, amoungst friends!!! I was just pointing out, why I won't a complete idiot the other day, stating backlog could jump to $6.5B!! In the mean time.. They are adding to backlog.. Fine!! But it don't start generating revenues till delivered and most of that backlog starts in 2015??? In the mean time: They been paying interest on from $240M to $750M of borrowed money, for last 3 yrs, as that rig was being built!! Payed builders up front $240M of $600M to build!! As witnessed by last 4 rigs!! Cardiff is going to get thier 30% or so for ordering them!!! Last 4, they stated for yrs, cost was $600M apiece.. Last yr, they stated actual cost was a little over $750M a piece!! (Cardiff) In the mean time till this rig is delivered, at end of yr!!! They got to pay interest on all that money.. And have money to take delivery!!! But they must be in pretty good shape??? As Geo ordered a new rig, which will be built, by first qtr of 2015?? Ask yourself.. Why would he have done that at this stage of the game??

    • This is what kem60's wife said 48 years ago, she said....kem, you said you had 8 inches before we got married, but something just does not add up, you only have 3 inches. She left kem 48 years ago, kem has never remarried, couldn't please a woman with that little tiny poker.

      Now you know the rest of the story, tiny little ding #$%$, he just stays in his room, trying to take it out on everyone else. He thinks misery loves company, but kem60....Everyone else is having a life, you could get an extension...No, ti's too late, you are in your 70's, grayoldman, that's one of your id's

      Now you know!

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