Yeah I know. Sorry. September it followed the BDI closely as it has done so quite a few times in the past. Thought it would flow with the BDI to some degree again.
Reverse splits have killed this thing every time. It's the psychology of the price and also, reverse splits are not good news ever! I know they are necessary sometimes for staying listed but unless super good news follows they will begin to slide.
He is getting 70 million more shares issued to him. After RS that is 14 million shares. Crede couldn't have paid .40 average pre reverse split. Also that deal hasn't been officially approved yet. Crede bought preferred shares that are convertible to common shares. When the news was first released there was a small pop and that's it. No one seems to care or think it will do them any good.
Company never said that. Also reverse splits tend to have this affect. Guarantee, had they put off the reverse split another two weeks. This would be around .34 instead of where we are at now. The BDI increasing is not helping at all this time around. Also because of weighted adjustments I thought Crede ended up getting those shares for more around .20 - .25 before RS?
I bought and sold a few times and made about 6k. After this round though I will be even or negative a little.
There are thousands of stocks to watch and research. Don't waste any thought on this one, just go look at stuff like: RNN, IDRA, DSS, ASTI, NBIX, SNE, and anything else that has a promising future that can actually be seen.
Last time MM's decided all shippers should soar on the BDI recovering. Now, I think the BDI could go up to 2500 and it won't do much good. Simply stock manipulation.
He has not been issued the shares yet and no they would be adjusted after rs. The deal is rather confusing, but think he is getting 70,000,000 shares for $10,000,000. After rs that's 14,000,000 shares. Crede capital could sell them all at .80 and still make money. I guess the shares were weighted and it somehow ended up coming out to mid .20's range for his initial shares?
No, they didn't hide what was happening. Everything was reported in every SEC filing and in advance.
Two of their ships are tied up with creditors because they have more debt on them than the ships are worth.
What are you talking about? If it was news worth reporting I don't think Forbes would be the only one with this information.............................................
If they get three more ships in the water soon chartering they could take in easily $750,000 - $1,000,000 a month from 5 ships. They need to get more ships operational.