One of those Greek drybulk shipping stocks. A new one on the block.
Thalassa Investment Co. S.A. (of the Democratic Republic of Liberia) owns 1,124,094 common shares
Universe Shipping Inc.(Republic of Marshall Islands) owns 235,200 common shares
Common shares outstanding is currently 2,400,000
“We are incorporated in the Republic of the Marshall Islands, which does not have a well-developed body of corporate law, and as a result, shareholders may have fewer rights and protections under Marshall Islands law than under a typical jurisdiction in the United States”.
Shareholders’ Equity: $9,474,582
6/28/19 We have entered into an equity distribution agreement with Maxim Group LLC pursuant to which we may issue and sell up to an aggregate of $10,000,000 of our common shares. Maxim Group LLC may sell our common shares by any method permitted by law deemed to be an “at-the-market” offering (F-3 approved by the SEC on June.21st for 100 million). Commission equal to 3% of the aggregate gross proceeds
Doesn’t get more obvious than this….
Our Chairman, Chief Executive Officer and Chief Financial Officer, Mr. Petros Panagiotidis, may be deemed to beneficially own, directly or indirectly, all of the 12,000 outstanding shares of our Series B Preferred Stock. The shares of Series B Preferred Stock each carry 100,000 votes.
1.2 billion votes………….Better believe the SEC will be watching this closely. There is a huge risk of a trading halt. This guy is sloppy, and clearly doesn’t care about subtleties. If it starts to go supernova, like 200% or more, immediately sell. Even 150%. Don’t push your luck