Guy,are the warrants just for current shareholders or bond holders too,and are the number of warrants issued on the number of shares held before the reorganization or 3.1 for every 100 we own?
If we had known the contracts were not worth the paper they were printed on,we would have never invested in this company,not only did the Saudis cut the contracts in half,they did it from Jan.,what lawyer would have given a contract where this can happen?
The company is not a scam,over 2 million shares were traded today,either Goldman bought in or there is a buyout coming,will see another 10% gain tommorow.
The short interest went up because even if they get contracts now,they will be at dismal rates because everyone knows the Saudi deal and will be looking to scalp Hero on the rates,so a positive is looked at as a negitive and the pps will not go up.Even though the Maesrk deal is only a yr. away,the way it looks the rates will be cut also or tied into the Triump contract their trying to get with Maserk.The only thing that will catch the shorts off guard is if they sign multiple contracts and at better rates than 67,000 a day.
Yes,you would think they throw them a bone and give amsc at least this one,what gets me is they say lack of evidence,I guess e-mails,confession and equipement with pirated parts is not enough,they will use this excuse for all the cases,we should have dumped this stock when the news first came out,thought the lawsuit was a easy win with all the evidence,but forgot China courts only rule whats in their own interest,my bad.
The China courts must have watched the O.J. trial,they were never going to give Amsc a dime,what hurts is not only did they get screwed by Sinovel,but also the Chinese gov.because they keep the money put up front by Amsc to hear the trial,I believe it's one third the amount of the lawsuit,they love when amsc appeals the Chinese get to make more easy money.China is the real superpower they do whatever they want and without any consequences.
About time,the money is in Pharma and cosmetics,not oil or jet fuel,they should have stayed with pharma from the get go with the developement for the malaria drug.
The problem with the Triump &Resilence is not getting a contract,it's getting a contract at a decent rate.After the renegotiated contract with the Saudi's,Hero showed the world they are willing to contract at break even or even at a loss and for extended periods,they are just trying to keep going hoping that oil prices and rates will increase before they go broke,when they announce the Triump contract it will be another Saudi type deal,esp. if Maersk contracts it,they are hoping hero goes belly up,just so they get out of the contract for the new rig in 2016,but then again who knows maybe hero did'nt put a penalty clause like the 261 and loose that contract to.When they have you by the blls they always squeeze.
Arch,McGhan was the one in charge in China when the Chinese stole the source code,then they made him ceo and ever since he has been destroying shareholder value and amsc,maybe the Chinese paid him off too,someone should check his e-mails.Amsc was trading at $10,book value was $8.50 and he sold stock for $6,knowing that they have a Navy contract and new contracts coming,how is he still ceo?