He is seldom in a horrible situation. Investors are the ones in the horrible situations. The related party transactions make him millions every month. His latest purchase of shares of $53 million were easily offset by his management fees over a pretty short time. Much of DRYS losses are attributable to his fees for the many things for which he charges DRYS. He even gets commissions selling DRYS ships to himself. But it has always been this way. Since inception. Even before. Alpha Shippings default now seems to be a paltry thing compared to DRYS, looking back.
of about $900 million. They have most of the shares, 95%?, pledged on the debt to ABN Amro which requires three times coverage using the VWAP of ORIG. With ORIG at $2.92 a share, the coverage isn't there, not even close anymore and DRYS only has 2 or 3 million shares left to pledge. Things looking pretty grim.
Never seen so much crazy from one individual. What sort of revenge do you think this moron thinks he is getting from acting like a child for hours a day, for weeks on end, just because he got humiliated on a message board a long time ago?