But DryShips, unlike ACLN, actually has cash on it's balance sheet, and George Economou needs to steal this money also. So DryShips is paying $26.5 million for each ship, or $105 million in total, to have the option to acquire these ships by the end of 2009 for the sum of $160 million dollars. So DryShips is paying it's Chairman, $160 million, to have the option of buying ships for $160 million, that may or may not be
So let's look at this logically, comparing it with what DryShips ships. If we had a contract to buy 100 million ounces of copper at $4 a pound, and now it's worth less than $1.5 a pound, would anybody in their right mind pay $2 a pound for the right to buy copper at the price of $2 by the end of 2009? And would they pay that price to someone who may or may not actually have the copper? Then why do shareholders allow George Economou to do the same? Here's the largest shareholders of DRYS. Why aren't they complaining? And why doesn't George know if these ships are in Korea or if they are in China?
Seven years ago, we had the ACLN scam. Now DRYS is enacting another scam, but this time it is a bit more elaborate and a bit more bold, but this time the bagholders will include banks. But just like last time, the SEC won't have a clue, until even those who are clueless will be clued in.
Hhnd the NASDAQ? The culdn't police their former chair in his $50 billion scam. So do you think that they could even follow this?
DryShips latest scam. Supposedly DryShips was going to pay the inflated price of $400 million for four Panamax dry bulk carriers from it's Chairman, George Economou's company. Two of these ships are allegedy being constructed in China, and supposedly DryShips was not able to get financing for these ships. Thus DryShips is walking away, and is going to pay a $55 million dollar fee. Coincidentally, this $55 million is the same amount that DryShips was supposed to receive for selling the M/V Lacerta, of which that buyer has now walked away.
Thats ge while drys sholders arelosing
Thats from kem
Who in the hhell would trust ge with their millions of $$$! $
Long at $18?