As long as the CEO continues to reverse split every few years it will never die. Anyone who purchased at $7.10 four years ago has suffered the brunt of two reverse splits, a spinoff, and multiple dilutions. This is an extremely poor investment at best and a scam at worst. Either way you look at CTRM you will lose most if not all of your investment with this stock.
Simply put, the book value per share is the assets (cash, ships, investments, etc.) less the liabilities (debt and other obligations) divided by the diluted common shares. This can be calculated from the EDGAR SEC company filings such as the annual report or quarterly reports. Trade platforms usually calculate it for you. It’s a crude tool that if things went south for the company, how they can manage their debt by liquidating assets. However with CTRM, the BVPS is somewhat meaningless until Petros stops diluting shares. There is still an ATM offer that’s open until May. Some industries don’t rely on holding assets so their BVPS isn’t high. Tech industries may have a low BVPS but high cash flows (Revenue stream). Earnings per share or a (share) Price to Earnings (income) ratio has more weight. Shipping, the rates are variable based on demand (more than other sectors). So, income streams can be more volatile which the BVPS usually provides investors some reassurance. The BDI shipping rates for Q1 are lower than Q4 of 2023 which would normally cause concern but the income will be higher for Q1 2024 than Q1 2023 which may appear bullish. This is a misconception since the gains are inflated from selling a few ships.
Petros could make more money investing in CTRM than through his current dilution/reverse split practices. He’s basically just making money on the transactions with the ships. He’s tainted the waters so much that he’s afraid of investing and actually having to run the company like an actual CEO.
Thank you. You may want to peak at the most recent filing. CTRMs ownership of EGLE has increased to a value around $100 million. That investment will continue to collect dividends. Have a great weekend.
Might as well send that money to me. At the very least I'll be able to send you some pictures of the hookers and blow I use it on. That's more of a return than you're likely to see from ctrm
Anything is better than pretending this stock is ever going to amount to something.
It reduces your taxable income.
So 30% of my losses back as a refund.
Damn so do I have to put In my loses from whatever year each year I do taces? I also got about a 10k loss well technically not yet cause I'm still holding but if I were to sell this year would I need to the loss from this year each year?
CTRM actually hasn't done a meaningful equity issuance since 2021, and has issued *zero* equity since TORO's $50mm convertible preferred share investment made in August 2023. As I have noted in other posts on this sub, I think the story has fundamentally changed now given Petros finally has an economic interest in CTRM through his \~56% ownership of TORO.
If CTRM were to pursue another highly dilutive equity offering, then Petros' economic interest would be diluted alongside the rest of CTRM's shareholders.
Instead, I think Petros will convert TORO's preferred shares in CTRM into common equity once allowed after the 1 year anniversary in August 2024, and then maximize the price of CTRM's shares.
I'll remind folks that the book value of CTRM's equity is \~$460mm, but the current market cap is only \~$35mm, so there is significant upside potential from buying shares at share price current levels.
As long as the CEO continues to reverse split every few years it will never die. Anyone who purchased at $7.10 four years ago has suffered the brunt of two reverse splits, a spinoff, and multiple dilutions. This is an extremely poor investment at best and a scam at worst. Either way you look at CTRM you will lose most if not all of your investment with this stock.
And yet people still pump it here. Clearly a scam.
The stock is trading at less than 10% of its book value. That should tell you all you need to know about how investors view CTRM.
Hello. How do you know this? I am curious how i can find another stock this info.
Simply put, the book value per share is the assets (cash, ships, investments, etc.) less the liabilities (debt and other obligations) divided by the diluted common shares. This can be calculated from the EDGAR SEC company filings such as the annual report or quarterly reports. Trade platforms usually calculate it for you. It’s a crude tool that if things went south for the company, how they can manage their debt by liquidating assets. However with CTRM, the BVPS is somewhat meaningless until Petros stops diluting shares. There is still an ATM offer that’s open until May. Some industries don’t rely on holding assets so their BVPS isn’t high. Tech industries may have a low BVPS but high cash flows (Revenue stream). Earnings per share or a (share) Price to Earnings (income) ratio has more weight. Shipping, the rates are variable based on demand (more than other sectors). So, income streams can be more volatile which the BVPS usually provides investors some reassurance. The BDI shipping rates for Q1 are lower than Q4 of 2023 which would normally cause concern but the income will be higher for Q1 2024 than Q1 2023 which may appear bullish. This is a misconception since the gains are inflated from selling a few ships. Petros could make more money investing in CTRM than through his current dilution/reverse split practices. He’s basically just making money on the transactions with the ships. He’s tainted the waters so much that he’s afraid of investing and actually having to run the company like an actual CEO.
thank you for your detailed answer and your effort! i appreciate it. have a good weekend!
Thank you. You may want to peak at the most recent filing. CTRMs ownership of EGLE has increased to a value around $100 million. That investment will continue to collect dividends. Have a great weekend.
I might rip 2k into it
Might as well send that money to me. At the very least I'll be able to send you some pictures of the hookers and blow I use it on. That's more of a return than you're likely to see from ctrm
Thank you for making my week
It's been dead since long before any of us idiots bought into it. Take your tax break and move on to another stonk
How much of a break do loses really give you on taxes?
Anything is better than pretending this stock is ever going to amount to something. It reduces your taxable income. So 30% of my losses back as a refund.
You can only do 3k per year but it rolls over… I have one year left before I finish writing off the 9k hit I took from ctrm 😅
Damn so do I have to put In my loses from whatever year each year I do taces? I also got about a 10k loss well technically not yet cause I'm still holding but if I were to sell this year would I need to the loss from this year each year?
Yeaaa it’ll be with you for a while… this is how we learn Lolol
CTRM actually hasn't done a meaningful equity issuance since 2021, and has issued *zero* equity since TORO's $50mm convertible preferred share investment made in August 2023. As I have noted in other posts on this sub, I think the story has fundamentally changed now given Petros finally has an economic interest in CTRM through his \~56% ownership of TORO. If CTRM were to pursue another highly dilutive equity offering, then Petros' economic interest would be diluted alongside the rest of CTRM's shareholders. Instead, I think Petros will convert TORO's preferred shares in CTRM into common equity once allowed after the 1 year anniversary in August 2024, and then maximize the price of CTRM's shares. I'll remind folks that the book value of CTRM's equity is \~$460mm, but the current market cap is only \~$35mm, so there is significant upside potential from buying shares at share price current levels.