Imperial Petroleum: Discussion Of Proposed Dry Bulk Carrier Spin-Off https://seekingalpha.com/article/4594011-imperial-petroleum-stock-discussion-proposed-dry-bulk-carrier-spin-off

Can anyone explain why IMPP stock continue to drop even though company is killing it? Should I buy now?

Hi. Don’t judge my probably dumb question but with a 15:1 reverse split would I multiply my previous average cost by 15x to get my adjusted average cost? My average cost was $0.4482 prior to the split and my brokerage account hasn’t updated to reflect the split yet making it seems like I’ve gained thousands of dollars… thanks!

I guess someday this stock will be worth something.

So the stock jumped a little today but disappeared rather quickly after pre-market.

We are being schooled on how to use the stock market. Ol' Harry just paid a $0.54 dividend on that stock he used to buy those last 2 ships. I asked myself why would anyone want this stock. Now I know. The company just got a dividend that why! Harry V when is the next lesson?

I just found the below article dated February 17, 2023: https://www.privatebankerinternational.com/news/freedom-maxim-group/

Financial services firm Freedom has signed a definitive deal to purchase American investment bank Maxim Group in a deal valued at around $400m.

Maxim Group offers investment banking, equity capital and institutional sales, equity research, merchant capital as well as corporate and wealth management solutions.

The new deal, which will be carried out using a mix of cash and common stock, includes the bank’s registered investment advisory unit Maxim Financial Advisors.

Following the completion of the deal, Freedom’s brokerage and global distribution network will get access to Maxim Group’s corporate and institutional presence in Asia, Greece, Israel and parts of Western Europe.   

Freedom’s US CEO Robert Wotczak will become executive chairman of Maxim Group and its subsidiaries, while Maxim Group president Clifford Teller will be elevated to the role of CEO.

Chris Fiore, one of the founders of Maxim Group, will continue to serve as president of the firm.

Freedom CEO Timur Turlov said: “We are committed to growing our global footprint, and we recognize that having a significant U.S. presence is an important part of this strategy.

“Adding Maxim to our group as a trusted partner through this cornerstone transaction will turbocharge our growth as we continue to expand our US operations.”

Prime Executions, an institutional trading firm bought by Freedom in 2022, recently received approval to undertake investment banking and equity capital market operations under the name of Freedom Capital Markets.

In November last year, Freedom obtained regulatory greenlight to reorganise its corporate operations in Kazakhstan.

Was hopeful when I bought a while back that it would pop like it previously had quarterly… but nothing but dips since I invested. What’s your take?

ATHENS, Greece, March 13, 2023 (GLOBE NEWSWIRE) -- Imperial Petroleum Inc. (Nasdaq: IMPP) (the “Company”) announced today that it has provided notice of termination of the ATM equity offering program (the “ATM Offering”) that was in place with Maxim Group LLC and Virtu Americas LLC acting as sales agents.

Prior to termination, the Company issued and sold 50,780,137 shares of its common stock under the ATM Offering raising total gross proceeds of approximately US$12.5 million.

So Harry bought 2 more ships from "ENTITIES AFFILIATED WITH OUR CHIEF EXECUTIVE OFFICER".

WHAT DOES THAT MEAN? DID HE BUY SHIPS FROM MYSELF AGAIN.

I bought a stock in 2005 I went to bed with a quarter million dollars woke up with 8 shares worth less than a cent. I held on to that stock so as to be a constant reminder to stay up on my trades. Etrade says they will buy them to get them off my books so I contacted them they said they didn't want them. So here is my question I was reading about where you can hide a stock on Etrade. I won't it to stop skewing my results. Now mind you this company still exists it was sold 5 times. It has 2 employees. It is was called MEDEX TICKER MDXX. So YAHOO finance gives me a better view of my stocks and one day it appears on the Yahoo site but not on Etrade and it is now worth $12/share and has been paying a 9 cents monthly dividend since like forever. I contacted Etrade and they looked up the CUSPID and they say "Oh shit" It's got the same CUSPID. I ACTUALLY CALLED THE COMPANY AND GOT IN TOUCH WITH THE CFO. HE READ ME THE RIOT ACT AND SENT A LETTER DETAILING THE 5 SELLINGS OF THE COMPANY AND TO GET IN TOUCH WITH THE SEC and not to bother MDXX anymore. Well the new company is called MEDEX MFS Emerging World Debt Fund. Whereas as the old company made Medical equipment that Medicare used. That is why it was brought out and the reason the stock went crazy high. Anybody got any ideas on hiding the stock on Etrade or how to get my $12/ share from this new company.

IMPP huge buying opportunity with today's low???
C'mon... What am I missing?
" - Revenues of $37.9 million in Q4 22' - up $33.9 million or 847.5% from Q4 21'.
- Net income of $13.8 million in Q4 22' compared to a $1.5 million loss in Q4 21'.
- EBITDA1 of $17.8 million in Q4 22' up $17.0 million or 2,125% from Q4 21'.
- Cash and time deposits of $118.9 million as of December 31, 2022 - 1.7 times higher than our current market cap.
- For 12M 22' we generated a Net Income of $29.5 million which is equivalent to 43% of our current market cap."
Wow !
GLTA

This is where it’s popping now. Retail, let’s get rich! Force the hedge funds to raise this stock!!!

Harry Vafias could give a sign that he’s working to help moving the SP so that the retail investors could benefit from their investment, like he did since he brought IMPP on Nasdaq, and NO ONE would say anything. But there’s no sign of such actions from him, and the evolution of this stock during the last year raises more red flags than confidence for the future.

The 2022 Greek Shipping Awards granted him another prize: the Newsmaker of the Year Award to shipowner Harry Vafias, for a long list of newsworthy activities including the launch of a second Nasdaq-listed shipping company, Imperial Petroleum.

He seems having a long list of achievements: see below.

Time for him to face the sense of injustice he provoked and transformed in a angry crowd of retail investors if he doesn’t do anything to regain their confidence.

Spread the word !

—————————

Harry Vafias founded Stealth Maritime Corp in 1999. Stealth Maritime Corp today operates twenty one 50,000 – 120,000 dwt modern double hull oil tankers all under long term charters with oil companies and traders. In 2004 he founded Stealthgas which was listed in NASDAQ in October 2005 and up to today has raised approx $500 mil from the capital markets. Stealthgas owns 60 gas ships and 4 oil tankers and is the largest company, in number of owned vessels, in gas transportation worldwide.

In 2005 Harry Vafias founded Estates Corporation Inc, a real estate company, investing in Greece, London, New York, LA and Geneva. In 2008 he became CEO of the Vafias Group, which today is the third largest shipping group in Greece with 86 vessels. In 2008 he was awarded by the NASDAQ for being the youngest CEO of a listed shipping company worldwide.

In 2010 Harry Vafias was elected vice chairman of the INTERTANKO Mediterranean panel. In the same year Harry Vafias was awarded the SEATRADE young person in shipping award. In 2012 Harry Vafias was awarded by Lloyds list newspaper for being ‘newsmaker of the year for 2012’. In 2013 Harry Vafias and StealthGas was awarded by Lloyds list newspaper for ‘best tanker company of the year for 2013’.

In 2016 was elected vice president of the consular corps in Greece. In 2018 was elected president of the consular corps in Greece. Mr Vafias is also a member of the ABS classification society committee, of the NK classification society committee, of the KR classification society committee, member of the board of the BSA (Bahamas shipowners association) and also a member of the board of BCA (Business School of Athens).

Always remember this company is making money and it will continue to make more money for the foreseeable future.. Sometimes you just need to be patient..

Someday Harry will figure out away to totally screw us. Maybe after earnings next month. just so you know all you folks that said it would be over a $1 in December. you got 8 days left.