Nautilus Marine Services Share Discussion Threads

[mally6] 09/3/2017 08:31

M cap 5 mill 17mill cash this is way undervalued

[anangf] 08/3/2017 17:16

Some volume today....any thoughts?

[andrbea] 08/3/2017 11:02

naut mentioned at foot of page

[hugepants] 07/3/2017 16:56

That's a must read article Bill. It's an industry website and completely destroys this deal. It's worth reading for the financial explanation alone. There are also some comments at the end of the article from guys who actually worked on some of these boats.

"...Its just extraordinary on a number of levels. All of us, with even a modicum of vessel knowledge, consider these assets to be some of the most compromised and poor quality in the market. I don’t believe you could get USD 8m for the vessels in Transaction A in an open market deal under any circumstances. They are just such bad ships the sooner they become Matchbox cars, or whatever else you do with recycled steel, the better. Prediction is hard, especially about the future, as Nils Bohr said, but the scenarios under which there was any economic value in those assets must be on a statistical basis with a large meteorite strike..."

[biggest bill] 06/3/2017 11:52

The following link from lse is worth a read.
hxxps://fromthesouthsea.com/2017/01/19/back-to-the-future-its-cal-dive-apparently-putting-the-band-back-together/#comments

[anangf] 03/3/2017 20:52

Yes uninvestable.

[hugepants] 03/3/2017 19:38

I've done a very rough estimate of what the business looks like after the acquisitions. I'm making some, hopefully educated, guesses here but definetly DYOR.

69M shares in issue. (this assumes all the loan notes are converted)

Running costs per annum:
$4M general and admin costs
$2M maintainance and cap ex costs of the rust-buckets
$2M loan note payments

I'm assuming zero revenues. Therefore cash burn per annum approx $8M = 9p per share.

I'm estimating the company currently has approx $28M net cash (32p per share)

I don't hold and don't plan to hold either. The concert party have shown their hand so I regard this junk as pretty much uninvestable.

[anangf] 03/3/2017 18:26

Very odd. No reason to buy this stock as far as i can see. PIs will never see the cash.

[biggest bill] 03/3/2017 13:58

Anybody know the reason for all the buying today? I can't find any announcement by the company so I presume that some tipsheet has tipped it.

[loverat] 17/2/2017 09:17

No, nor would I , except possible as a shortish term trade. The share price has always disappointed here although I did make some on a couple of spikes - a few years back.

But considering all the other junk on this market, is this any worse? Probably not and just keeping an eye on this to see how much more it'll fall.

[biggest bill] 17/2/2017 09:03

Given the past behaviour of the management, I wouldn't touch this with a bargepole.

[loverat] 17/2/2017 08:44

This company has been run into the ground recently.

Looks like they may have bought a load of old rust buckets - but at what share price before this becomes buyable again?.

It still has cash and this is now capped at 4million. So views welcome as this is on my watchlist again.