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Non-Tech : Shipping - Oil & Gas Tankers, Dry cargo, LNG -- Ignore unavailable to you. Want to Upgrade?

To: Paul Senior who wrote (2398)	12/27/2023 10:33:06 AM
From: Julius Wong	Read Replies (1) \| Respond to of 2670

Imperial Petroleum announces $10 million share repurchase program and agreement to acquire two vessels finance.yahoo.com

To: Paul Senior who wrote (2398)	12/27/2023 10:34:44 AM
From: stuffbug	1 Recommendation Recommended By Rarebird Respond to of 2670

Because IMPP has been a real sh1tco for the past 2 years - a history of dilution and related party dealings. Massive dilution to fund new ships - shares outstanding zoomed from under 5 million to almost 30 million. Through an affiliated company, the CEO recently converted preferred stock into company shares. Harry Vafias now beneficially owns over 1/3 of IMPP. Going forward, the CEO's interests should be much better aligned with those of the shareholders. Big run-up over the past 5 weeks (information leakage?), stock price may need to catch its breath before further advances.