The only talk of bankruptcy is by yahoo board trolls who have already lost all their money.
Surofcheck is a professional.
surofchek • Aug 6, 2015 6:58 PM
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So everyone wanted Dryships to stop reporting their earnings with ORIG in them. To de-consolidate they had to take a charge. They did this today hence the nasty looking number. Now it's done and we can see exactly the cash on hand ($40 million), the amount of debt ($1.165 billion) and the true stockholders equity ($2.615 million). The reduction of debt still has not reflected any of the tanker sale in the q2 numbers. They are still showing the tankers as assets to sell on the balance sheet. After the tankers are sold there will be at least of reduction of total debt by $500 million bringing the debt to ~$600 million with. So your left with $1.4 billion in vessel assets + $40 million in cash and approximately $200 million in ORIG assets totaling $1.6 billion in assets minus $600 million in debt equal to $1.0 billion in book value. The stock currently has a market cap of ~$330 million. Someday this fact will matter and the stock will go up. We will lose all of the tanker income after the 3rd quarter so this company will be a pure play drybulker. The revenue for the bulker's in Q2 will probably be the lowest we will see due to the low rates in Q2 ($42,239,000).
In summary the price of DRYS will be connected to ORIG until the investment is sold down even more and until DRYS can show a profit on the drybulking side. Now that we will be able to see the pure numbers for DRYS knowing exactly the profit & loss will be is transparent. For those who can read balance sheets and income statements will see how depressed this stock is regardless of the challenging market. GE has done exactly what he said he was going to do separate the tanker and drilling units from DRYS. He also has significantly strengthen the balance sheet reducing debt by almo
ROFL. Anyone can make up "trades" after the fact. Your latest "entry" was 25% higher than this and it never traded over that. Go back to burger flipping. Millionaire - LOL!!!!
That board was LOADED with the same kind of doomsayers as here. Reverse splitting the stock was a godsend, it would be here too.
this never gets old
I don't think that loser has ever made a winning move!
and not one minute too soon
I know most of you trolls were in elementary school then.
Record will show that big fatty wuss sold at the bottom