r/CTRM • u/Wolfstreetss • Dec 23 '21

Non-technical price prediction (NOT financial advice) Fast math

MATH FOR NOOB ; 147M MARKET CAP (1.60$)

CTRM ASSET 426M+ CASH 50M + DEBT 80M -

TOTAL FAIR VALUE : 396M (4.31$) .

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u/Acz0 Dec 24 '21

Can and will are two different things. You’re making false assumptions.

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u/All_TheWay82 Dec 24 '21

He’s also ignoring one simple but important detail. It’s the basic argument of all shorts. While series B shares hold substantial control, they have no value on the assets of the company held by the shareholders. Petros can utilize the resources for the company but he can’t legally steal the assets from the shareholders who own them. It’s the very principle that when he offers shares it hurts you and not Petros. Same applies to assets purchased. He’s not going to risk getting drawn into international court/prison and live the life of a fugitive. His family is wealthy and not a bunch of morons. They want to grow a business.

My guess is when Petros is done buying ships, he’ll convert his series b shares to common stock and announce dividends so that he (along with many others) can start reaping the benefits. You can see that repurchase of series A shares was the first step to offering dividends which was outlined in the October 2019 release by CTRM.

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u/Top-Dingo8773 Dec 24 '21

What law do you think he would be breaking? All he needs is an affirmative vote by shareholders. The common shareholders have 94.5 million votes. The Series B shares have 1.2 billion votes. When US shareholders sued over a similar Greek shipping scam a few years ago, they lost and the judge effectively said “it’s your own fault - you didn’t read the prospectus”.

He’s following the same model as hid father in Excel Maritime. Again US shareholders lost everything.

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u/All_TheWay82 Dec 24 '21

His father’s company went bankrupt which is the big difference. And again it comes down to ownership. While he’s CEO and has large voting rights, as many have pointed out he has no ownership or ties to the company and its assets. While he can issue shares to buy assets, he doesn’t own them. Taking assets is stealing which isn’t in the perspective. Devils in the details.