And mind you Drys was very profitable thru like 2010, and into 2011.. Not only have those profits dissapeared.. So have all those billions from stk sales.. And I bet this about killed GE to shr this? In 2011, to get enough stk holders, for Orig to trade on Nasdaq.. He took and payed 2% of the 132M shrs.. He IPOed Orig with.. That 2% of 132M shrs got devided by the ones who owned the 380M shrs of Drys at the time.. So GE didn't take it all.. But he had just made his nephew wealthy buying Ocnf for at least $100M more than it was worth, with drys money.. What was $100M to GE? Just sell idiots some more of Drys stk, I sold my few shrs of Orig, and all my Drys stk.. Since then, just watching to see how long it's going to take GE to have Drys BK...Now we are very close.. But what the hell.. My understanding.. GE has bought us all a private island with all those billions.. I'm sure we would all be welcome anytime!
I ain't missed nothing..I would not ever, got on this ship with 1 bulker.. Investors come up with like a Million, to pay down on.. Have borrowed money on that bulker.. They probably done got their million back.. And if capabable of selling idiots those $46.55M shrs.. They will be sheeting in high cotton... They will be ice skating in hell before SHIP ever reports one penny in earnings... I wouldn't pay 10 cent per shr for it.. But, sure seems like a lot of idiots out there that will... Since 07.. Geo. Economue has sold over $3B of Drys stk.. From $100. per shr to now like .50... Guess what stk holders own for all those billions.. 39 bulkers maybe worth half of Drys $1B debt.. Keep buying any of these drybulker stks.. You will learn... My understanding GE has billions.. Owns his own island and one of worlds largest art collections.. Can you blame other greeks, for not trying to follow in his footsteps? All they got to do is get you to buy bunch of worthless stk!
NEWL, was selling on Nasdaq first of 2014, at like $35. per shr.. But as stk dropped.. They had several reversal splits..Trying to keep it listed.. It is now trading OTC at .0018 cent.. Not even 1/5th of a penny.. Could it get that ugly for Drys?
I just glanced over transcript.. They sure talk a lot about things.. I find not important to stk holders.. In mean time, long term debt is $613.5M.. That's a hell of a lot of debt, with what DSX is generating in revenues.. I think they got financials covered? But I watched EGLE go BK last yr.. And wipe out stk holders as they couldn't handle debt..Just to turn around and IPO new issue.. One thing I did notice is how EGLE's Gen. + Admin. expenses dropped to less that $3M per qtr.. Before creditors come in and took over.. As of right now DSX G+A is little over $6M per qtr.. In last yr. it did actually drop $100K.. One other thing I learned from transcript... Average age of bulkers that get scraped is 25 yrs.. I thought it was more like 20 yrs.. So existing glut of bulkers, have got longer life, than I thought..
I am surprized it wasn't down.. Loses about doubled from 1st qtr.. They added a couple of new bulkers.. Even with that revenue.. Revenues were down.. And now with debt over $500M.. Can DSX service all that debt?? Well they did just borrow another $165M.. So they should have enough cash for awhile.. Stk holders may lose everything.. But as long as officers can borrow or sell stk holders equity to preferred stk holders.. They are sure going to come up with money to pay their compensations..
If anyone is interested. Little truth to what Mike posted.. DSX is up about $1. since first of 2015.. But one yr ago DSX was trading at like $10. At $7.55 a shr... In last yr.. DSX is down about 25%..
Mike concerning DSX! Their situation is just as ragged as all other drybulker..Maybe even worse? Debt just keeps going up and revenues keep going down, even after adding a few bulkers in last yr.. Sad part they got like 4 newbulds coming.. And value of them are lot less than when they ordered them? And only reason they got any cash at all? They been selling common stk holders equity to preferred stk holders.. And borrowing every penny they can against other equity.. I have concluded their common stk, may be just as worthless as Drys?? Are you aware? Loses in 2nd qtr about doubled from 1st qtr?? Either you have no idea? Or one lying SOB!!!
Little good news.. And then some not so good.. Per Compass Maritime weekly.. T/C Rates for Capes went up $2K per day last week..But DSX has 20 Panamax and losing serious money.. Rates for them stayed the same. At $7.5K per day...
As of last Fri..T/C rates hadn't went up with BDI.. Google, Compass Maritime to see what they done this week.. Getting ready to do that, myself.. In mean time.. DSX loses about doubled from 1st qtr? And now debt is over $500M..
And as far as our local theif.. If he can figure out how to suck any more money out of Drys..I can't figure out how? But I would have never thought idiots would have bought another $423M of Drys stk in 2014?? And it does seem he has cleared the way! To sell another 1B shrs of Drys... If oppertunity arrises..
What is pathetic? When manipulators thought they could drive Drys higher.. They would move in and trade like 30M shrs back and forth and drive it up.. Now they are scared, to even touch it.. Bottom line: If they buy trying to drive it up.. They are getting that stk they bought stuck up their rectum.. No body wants a drybulker, with 670M shr.. And losing money Drys is..
IBM looking good! And not any of my calls have expired yet.. Yea I am down a little.. But waite till next week!! How you doing with all that Drys stk you been buying as it fell from $5. to 50c?
If you are sitting on $160. calls that expire today.. What to do? Hell they may end up being worth $1. or $2.50 a shr by 4:00? Don't sound like a lot.. If you were sitting on 100, $160 calls.. It could be difference in $15K..
London the most valuable thing on earth is clean water.. I have no idea how said bunch can lay their heads down at night, with all their wealth.. Knowing some people don't have clean water? There are people dying every day.. And for a little money you could drill wells to where water is? Every time I see gates and buffet with their little sheet eating grins.. I'd like to smack the grins off their faces...
Hate to tell you!! Oil is due to have small rebound!! I think oil will trade between $50. and $60. in coming mths.. Only time will tell..
I done posted, I took like $50. loss on those Orig Aug $4. calls... And glad I did.. When has there been any good investors concerning Drys or Orig Stk? Idiots listen to lying hoes like you and kemmy.. As for why NOW? I figure to take some of shock away, as how bad earnings are going to be!! And you can bet one thing! I can add and subtract with best of them.. And seems I am only one who has figured out just how much money Drys has been losing.. Stong buy my $%^&*....
Will it ever be profitable? Be carefull.. They don't have that many shrs outstanding.. But what is a stk worth? That just keeps reporting loses?
Did GE think people would ignore fact Orig divvy was suspended? As he thru that fact in.. When announcing that loan from Orig to Drys had been settled with shrs of Orig being transferred to Orig's books from Drys books.. You can bet that loan got settled? Only time GE ever personnaly garanteed any of Drys debt.. And whether you know it.. When loan was made.. Looked like nothing.. As Orig was selling at $13.50 a shr..
Analyst estimates: Orig to earn 27c per shr in 2nd qtr.. $1.51 per shr for 2015.. So why did they do away with Dividend?? I'll tell you what that divvy was about.. Orig payed Drys like $75M over last 5 qtrs.. Just GE moving money from his right pocket to his left.. Sure didn't do Drys stk holders any good.. Yet created a smoke screen.. While Drys was getting that $75M.. GE was able to sell "COMLETE" idiots another $423M of Drys stk.. Sold $90M worth in 1st qtr, 2014.. Another $333M in 4th qtr..