A billion dollars.....not a billion shares......he can sell billions and billions of shares all the way down to pennies.....then do a 500 or 1000 or 10,000 to one reverse split and start all over.
Then he will award himself a new supplies of valued shares and round and round she goes.
Wait for the liquidation sale.....then the reverse split.....then the new drop in split shares...then if you think they are out of the water......bottom fish
Sorry Kem......been here before
why is everything about you kem.....there are others on this board who may be more innocent
You may enjoy your money....God Bless
Others may appreciate a warning shot
ORMS ( ME ) lost 430k on DRYS
and I am out.....but I wish I could help you....GE is going to sell you guys down to pennies and then tenth of pennies and then hundredth of pennies
If shipping rate had recovered and China kept up the game......DRYS could be 6 or 7 or 8 bucks now
China died....shipping died.....can happen
Just that Rat fink GE is jumping ship on us for himself
Remember what happened to the Italian Captain on the cruise ship who jumped before the passenger....15 to life
GE will get life with Mr Satan.....in Hell......
That was the final draw
GE will steel the 4 best Tankers for a 40 % discount........sell 100 million of his shares first for 60 /70/ 80 cents....then when he starts selling the shelf 1 Billion he will sell at any price all the way down to pennies...
sure DRYS may get enough to pay ANB and ORIG but there will be over 2 billion shares outstanding
Even if DRYS pulls thru till shipping rates recover ....the shareholdes will drastically diminished to pennies per share.
About a week or so ago...GE filed for a 1 billion shelf registration with a 100 million inside holder attached as well
He has just bought the 4 most profitable Tankers with a " promise of maybe buying the other 6 later"
He can sell as many shares as he wants all the way down to a penny to get up to 1 billion dollars.....which means he will sell at some point well over a billion shares to receive less and less money
At some point he can sell 100 million shares to par the monthly bills
And bet his 100 million gets sold first as the inside party of interest.
DRYS may survive.....if the DRYbulk market recovers........but the shareholders are in for a hard time.
wrong...I took my loses a while back at great pain when I finally woke up.
This GUY is only out for himself now that the chips are down.
Who says the tankers aren,t worth double
I'll bet several hundred million has been left off DRYS table and put on GE's table
He had to get his 80 million back plus all his stock devaluation...
Hell is too good for MR GE.....I wonder if a Picaso painting can buy a cup of water in HELL
You get the DRYS dry bulk business loosing 70 million per quarter......
If rates on DRY bulk shipping don't raise soon.....he will sell everything at bargin basement prises and be done...
DRYS had 1.56 billion of its own debt in Nov 2014......DRYS diluted the stock about 35% and paid off 200 million......if IPO's tankers will remove 280 million more off books....that's 480 million dollars of debt removed so far
DRYS will also own 80% of Tanker IPO'd company possible dividends and loan collateral against any covenant breaches we may encounter until rates recover in shipping
If ORIG rebounds to over 14 per share DRYS will do a MLP and get about 200 million which GE wants to pay off AMB's loan of 200 million and then can convert 8.8 million shares of ORIG to remove the 120 million dollar loan with them....they will retire the stock and DRYS will have 70 million shares left and a 53% controlling interests still
So another 320 million of debt can come off this year.......So 480 plus 320 =800 million of removed debt in one years time.
I. 56 billion minus800 million = 760 million
so in 1 year DRYS can have an 80% ownership in TNAKERS and a 53% ownership in ORIG with 760 million of debt........ less than 50% of last years debt
If shipping rates recover.....GE will be a Star and a Hero on Wall Street.
Come on RATES!!!!!!!!!
No KEM this was a horrible experience for me
Every analyst and predictor had straight up up up guidance last year for shipping and GE was so strong on China closing their mines and shipping in more ore
I bought these clowns expert opinions hook line and sinker like a major fool
Now 3.50 sounds like manor from heaven
Oil Tanker on fire and will give a gangbuster IPO
ORIG will be back to full strength by Summer/Fall
If DRY bulk rate pick up this year we have a hit on all three segments
So if DRYS was worth 5 to 6 before 37% dilution then 5.5 x .63 = 3.46 per share
So all we need is a little improvement in shipping and we have at least a 3.50 per share company
A good move is a good move regardless of where DRYS is heading
and my cost basis is 3.40 sadly enough not 6.00
I still think this will be a positive and may prevent a further dilution in Dec 15 with ABN may accept some shares in Tanker IPO for a 1 yr extension
Give shipping rates some time to euualize
Audio we are all frayed with DRYS...no need for name calling
thats not our problem
the Goldman Sacks of the world do the selling and the advising.....GE hires people for this
The Oil tanker market is near its top
DRYS IPO's the Tankers.....keeps 80% ownership.....removes 279 million of costly debt.....receives a new dividend.
DRYS gets new collateral to use if need be to keep its loan covenants in check.
AS was complained about in Trade winds.....ships being bought from related parties at a premium....should red hot big earning assets be bought at a discount???????? Common now...of corse at a premium.
If in a year or two oil tankers cool off as we all know they will.......off our books....no debt...no depreciation...no covenants.
Of corse GE should IPO Oil Tankers right here at the high..........
Oil should rebound this year a little and more next year and ORIG should be fine.....hopefully the dividend will stand through the next couple of years and share price will rebound.
Just my opinion
and as for Trade Wins says 2200 per day fee to run oil ships......that will not be on DRYS expense sheet either
You can spin anything any way you want