Q1 report Depreciation and amortization 4,411 Interest and finance cost 8,168 Total: 12,579 Total vessel operating expenses 5,797 per day Total expenses $120 K per day to break even Income: 10 ships X 12-14 K average = $120K-$140K
Cash in the bank: $9 mil
At 8 K per day per ship they will go BK in 2250 days or 6 years.
huh? maybe do some research...read some of the other posts here.
This company only had 2 FLAT quarters during the misery of 2009, it had a good 2010 Q1 and is about to report an excellent 2010 Q2. Quietly going about its business paying down debt and building shareholder value.
The only thing holding back its stock price from DOUBLING OR TREBLING, are current uncertainties due to falling spot prices and jitters in the wider markets. These too shall pass...
What a numpty...I definitely think YOU should be SHORTING this stock. Go for it. Lol.
For the rest of us, the discussion on this board focusses on WHEN to buy NOT IF.
IMO this stock is currently a hold until BHSI, S&P500 sort stabilise, with a 20-25% downside risk from here and a 200-300% upside risk if you're patient.