I think the pending 2015 notes are easy to cover with additional stock sale to Freidrickson. Say you buy another 250 mllion shares at $1.50 you could easily get a quick $375 million. You'd still only have a float of say 330 million still well below the average tanker companies all tapped out in selling equity and raising debt. Those fleets go out of business. You rise to the top and create an almost monopoly in the tanker business and rates skyrocket. Suddenly your throwing off tons of cash flow and well the rest is a $30 FRO. .
I saw an explanation of when the S&P goes 8% above its 200 day moving average the market always corrects.
Take a look at the charts on this, its uncanny.