Smilin_B
5 months ago
Yes $124 MILLION dollars in cash, zero debt, 9+ vessels (and growing). Year end revenue increased by 89.4%, net income by 141%. Cash on hand $124M. Trading at $52M market cap. Company repurchased $10M worth shares. 75% short interest. Not sure how they are going to cover. A recent capital raise was concluded and there was no substantial sell-off on the shares due to dilution. In fact, our share price has doubled in just a few months. The chart looks beautiful and although it would appear to someone not knowledgeable in the space, that the pattern is "overbought', we have had days where retracement down to support has been tested and retested - and has so far, held it's ground. I'm not really certain what shareholders were expecting out of earnings but they were absolutely incredible. I would like to think that we can make another test through the $3.60 level prior to increased volume and larger institutional investment here.
Smilin_B
5 months ago
CEO Harry Vafias Commented:
“Since our Company’s listing, we managed to almost triple our fleet, accumulate more than $100 million of cash, pay off all of our bank loans and excel in terms of profits. For 2023, our profitability was $71.1 million, that is 141% higher than 2022. Since September 2023, we have commenced a sharebuyback program. To date, we have purchased 4.3 million common shares and 5.8 million of outstanding warrants for a total consideration of approximately $10 million while, since the commencement of our share buyback program, our share price has doubled.”
Conference Call details:
On February 13, 2023 at 11:00 am ET, the company’s management will host a conference call to discuss the results and the company’s operations and outlook.
Online Registration:
Conference call participants should pre-register using the below link to receive the dial-in numbers and a personal PIN, which are required to access the conference call.
https://register.vevent.com/register/BIb0d71756a48d45f7bcfb53165f7242da
Slides and audio webcast:
There will also be a live and then archived webcast of the conference call, through the IMPERIAL PETROLEUM INC. website (www.ImperialPetro.com). Participants to the live webcast should register on the website approximately 10 minutes prior to the start of the webcast.