8 Milion revenue--2.5 for first six months, and 5.5 for rest of year, based on BDI swings in 2014, revenue should be higher in latter half, and two ships were laid up in first half--second half revenue is not lower than 5 and not more than 7 but 5.5. is about right from my guess.
Cost of operations will be closer to 25 million, just an eyeball from past years--so in the hole by 17 million, and they got 12 from the Goddess, and 2 more from the sales--so its not bad a mortgage maybe one ship could cover the rest, cost in interest is down to a mill maybe.
So limping along, we see FREE as cleared with another mortgage to buy one old ship, as a confidence building measure. What really is bad is China adding handies like no tomorrow, 59 new handies on the waters last year--lets hope scrapping kept up.
its takes no brains to all to see the pattern is meant to trap, its is well designed like a glove--Ion is the source of all evil in this world, he is "greece" and the "right" to rip off investors is in the blood--oh take most of the aid money, like greece, then reneg, so clever really, its the same with this company.
These dopes were born to lose, unless they like to lose, which is the real truth, so humourous.
i wouldn't listen to the fool Gato either, but he does say the truth, and that is the part that hurts, that is exactly what Ion seems to be doing, get his pay for the year from a company now valued below bankruptcy, but why blame Ion or Gato? Ion has no choice, and when the ship is sinking who would he rather enrich? His loyal shareholders who he wiped out from thousands of dollars a share, or his friends ( who may even have some money for him later on) at various toxic financing "shops" ( perhaps the very family that controls the socalled "preferred") My suspicions are it is the controlling family that are bankrupting the shareholders, but perhaps its just how hopeless BDI is--when things get this sour, all bets are possible.
Lets be honest for a change, who has made money here in 5, or lets say 7 or 8 years? ION gets his two and half million, off the top, the company gets maybe 6 million in revenue and blows through 35 million in losses a year or really lets say 41 million in losses since that is a net loss. For a company with boats at carry value of 75 million (minus 12 million for the sale of their best boat, sale value of 45 minus the 12 again so 33 million--so its simple, they got till december or they will have zero value and its headed that way right now--on the plus side, they won't BK, that much is clear from the last two financings, but there is only a million left in value--ah yes so there is a disconnect, it has been overshorted, we might even be lucky and ION with his useless LSE education, might know something, he might even be smart enough to set up the two sales against each other, but be careful of the pumpers, they lie lie lie, --one kept telling everyone nonstop for a month the last sale would mean .46 was the warrant price ( now its .24 with the last finanincing) but without pointing out that the it states the lesser of these deliberately misleading numbers, or 60% VWAP--have a brain for a change and stay away or join the misery of these hell creatures, the pumpers like u know who.
Pumpers, ah well enough said, one in particular is annoying to all of us, since he suckers people into his losing bet--its a shame to bring down others with yourself--think it through buddy, life is short. Dumpers, well its our friend and CEO Ion, who has sucked out all value, leaving the shareholders as fools, leaving them crumbs, its the way of incompetent people everywhere--and people lacking in morals in general---his day will come, but he already is a what he is so , I guess it can't get worse. Stumpers: How do we get out of this mess? Will the company finally fall off Nasdaq and that is the end? Or is this another NEWL that fooled us by staying on Nasdaq? BDI is certainly the main culrprit, so don't give up hope, DRYS is doing about as well and we are not done for yet by any stretch--hold and prosper, imho, but run if you must, its scary, this is toxic financing--they can't survive another one of those 500K sell off of stock for 60% of VWAP--that is pure insanity--think about it.
No no one hear has any clue audio but that doesn't stop them from pumping-we got one who has been pumping since .13--what a guy! goes on and on and never quotes anything of value--like the ships or revenue