DryShips owns 78,301,755 shares of Ocean Rig Shares Outstanding of 131.880,000. (DryShips owns 59.4% of Ocean Rig.)
June 4, release: with an estimated backlog of approximately $165 million. (Quarter 1 2015) it will cost Dryships $98,010,000 to settle it’s part of the $165 million backlog. How much will DryShips, by itself, be getting paid to punch the holes?
June 5, release: with an estimated backlog of $1.3 billion. (Quarter 3 2015) it will cost Dryships $772,200,000 to settle it’s part of the $1.3 billion backlog. How much will DryShips, by itself, be getting paid to punch the holes?
(It's not a matter of subtraction, ORIG people don't work for free.)
Ocean Rig is a subsidiary of DryShips which is 59% owned by DryShips itself . So when DRYS works for ORIG, the other 41% of Ocean Rig stock holders pay 100% of the bills and DryShips ignores the fact that own 59% of any bills?
No wonder Economou beneficially owns 57,000,000 common shares of DryShips. Sounds like a good deal to me if your name is Economou.