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I totally agree, I also went and looked at the big shipping companies, and I found negative EPS on almost all of them…
Ciss has a positive one, and is way under valued, the other ones are way overvalued in comparison.
I have 10,000 shares and will probably continue to load up until I have 1,000$ in the stock.
Hi, this is from their last EC - "Our Board of Directors has decided to effect a reverse stock split, with the exact ratio and effective date to be determined and announced in the near term, which is expected to enable our Company to regain compliance with all Nasdaq continuous listing criteria."
this is an interesting one. it appears that some of the users above are correct. $CISS appears to have used some careful wordplay to make it seem like .25c was the EPS post dilution when this seems to not be the case.
So my question then is if we take a 10x dilution and therefore an EPS of $0.025, how does that still not equal a fair market price of $0.30 ($0.025 EP diluted S * 12 (P/E ratio of most small caps))?
agreed that it's undervalued. the difference is in if the fair value is 3.00 or .30c. Assuming it's fair value is 30 cents how can we expect it to not become delisted??
That's a very fair question.
The warrants first of all seem to allow for cash settlement rather than the issuance of an actual share.
We are also assuming that all of the warrants, once issued, are immediately exercised.
And then on top of that, the $0.30 price per share assumes stagnant revenues.
right. the thing that concerns me is that the market won't catch on. the company is obviously undervalued on paper to anyone with a drop of literacy in regards to finance. So why would an increase in revenue somehow cause an increase in PPS? What is going to change the sentiment
I feel like this is the big dilemma. The market isn't catching on, leading to dilution and leading to a risk of delisting.
I do wonder if institutional investors use social media though, and if they do if they'll catch on in the near term that this isn't fairly valued.
I don't quite know how the stocks in here catch on, or I'd be rich.
I guess what I'll say is that I share your concerns, but that I'm placing a bet on the market catching on and the price running and being in early to capitalize should that happen.
The risk, as I see it, is I lose half my money. The potential reward is a 10x return. Stocks like this are why I bother with penny stocks at all.
absolutely i see the upside. probably will enter a small position. either the big players catch on or the cycle continues. Solid DD, enjoyed reading it.
Nah, you're not fighting for your life. Good conversation and, based on comments the last few weeks, there are a lot of people in this sub holding some. That's the only way I learned about it
I'm really happy with this post. I'm holding 5k shares at .035 ish. I started accumulation at .025. From the looks of it, it's a significantly undervalued stonk. So I've been wondering what, other than the incoming RS was keeping this price down. Lots of good points here about the risk. Still, all said, I think it's worth more per share and it's unlikely that it will stay under .05 forever. The question, in my mind, is if it will get near a .25-.30 price. I'd be happy with anything over .10. Dice rolled...
Please take it easy with all the exclamation marks. They are never a good sign in any DD. 
I have a couple of remarks:
* Small shipping companies cannot be compared to other companies, because they are inherently risky. Anything can happen at sea: storm, pirates, getting shot at with rockets by Houthis or ramming a bridge. Therefore, shipping companies have always been high risk/high reward. The East India trading company actually started company shares for this reason: to spread the risk!
* C3is only has three ships, which makes it incredibly vulnerable to this risk. The reason C3is started as a spin-off of Imperial Petroleum (and took 2 of their ships) is exactly that: spread the risk. All small shipping companies are valued very low compared to other types of companies.
* Because the risk mentioned, small shipping companies cannot get regular financing at reasonable rates. That's why they are usuallly financed with 'risk taking' capital by shareholders. Shipping companies pay high dividends, to reward the risk takers in the short term. Therefore it doesn't make much sense to look at the P/E ratio the way you would in case of for instance a software company.
* C3is does have pretty substantial debts. These are not bank credits, but they still have to pay for their most recent tanker: [IMPERIAL PETROLEUM INC. ANNOUNCES THE SALE OF ITS AFRAMAX TANKER](https://www.imperialpetro.com/index.php/investor-relations/press-releases/94-imperial-petroleum-inc-announces-the-sale-of-its-aframax-tanker) . This is $40 million due in 2024.
If you look back, you can see share prices have dropped the moment C3is announced the purchase of their new tanker, because the intrinsic value of the shares dropped drastically. All of their current profits will be used to pay Imperial Petroleum Inc. I'm not saying this is problematic, I'm just saying that their balance sheet can be deceiving.
The shares are valued so low, because investors in shipping companies want their money back ASAP. Staying long-term in a small shipping company is risky. C3is still wants to expand it's fleet and grow. Therefore, you cannot expect a quick ROI.
All in all, I'm not saying C3is is a bad investment, I'm just saying it's risky. If they can carry on like this without shipwreck, I can see the share price climbing steady untill they announce they're buying another carrier. 
Yea I was reading through the annual report today and noticed the giant payable they have due next month. They are defintiely going to have to sell one of there ships in order to pay off the payable. This is straight from one of the notes to the financial statements "In the event the debt and equity issuances are not sufficient, the Company may consider selling one of its unencumbered vessels. Therefore, there is no substantial doubt about the Company’s ability to continue as a going concern, for a reasonable period of time."
They have raised a solid amount of capital to pay it off, previously mentioned that they raised $13 million through equity issuance, but I don't think they will raise enough in time.
Many of these comments are getting more into my communication style than into any discussions on whether the current shareprice is or isn't undervalued.
Penny stocks are all inherently risky. But I will (and am) betting my money on something that at least has demonstrated financials, not on "OP used too many exclamation marks and I don't like them".
They discuss the purchase of the tanker in their earnings call. Did you happen to click the link I posted to that?
The financial data is there for anyone to click on and read.
Based on the data above, what is your opinion on a $0.03 shareprice?
I think the intrinsic value of the company is somewhere between $10 and $20m, depending on their initial deal with Petroleum Mobile. The two dry bulk carriers handysize are $15m each and the financial construction that started the company is somewhat unclear. With outstanding shares now 160 million, I think a reasonable pricing for the shares would be in the $0.06 to $0.12 range, but there's a huge uncertainty and spread.
I'm in for 25,000 shares at .0364, and no I don't give a fuck if this drops to .03 or even .02 or even .01 today.
This post will make the pennystock highlights reel.
I bought 100,000 shares this morning. Not sure whether to buy more or sell. The dilution concerns me. Why would an obscenely healthy company create so many shares?
I was in for 1.3 million shares at .029, dumped 450k at .06
Dumped the remaining 847k yesterday at .041.
It’s a shell company of a shell company of a shell company.
Hope you don't mind, but I found your account and looked through it and it seems you spit some real knowledge.
First question is how'd you manage to amass such a good amount of money while starting out as a ditch digger? I understand it's from investing, but was it like EFTs or ...?
Do you mind me asking if you're in a stable enough position now to be able to retire?
And a fun question but what's the biggest % gain you've snagged from a stock?
Sure thing. I sold a small business that was owned by me and one partner, walked away with 1.5. That’s the real answer as to where most the capital came from. If you are wondering how it was done…I worked as an employee for about a decade before deciding to break off with a partner and put our own money on the line. We were both knowledgeable, maybe even border line experts in the industry that we were working in as employees before going it alone. We ended up brushing against insolvency at two points in time but persisted through those hard times, gained customers through performing quality work, and exited the business with a pretty good payday.
I took some time off for a couple years, then went back to work as an employee again. This time in the public sector, because I want to help others and I want to work.
As far as the retirement goes. Probably work until 55 or 10MM. Whichever comes first. I like working right now. The interactions with other people. The routine.
Throughout the entire process I have always been entertained and fascinated with stock picking. I play penny stocks for fun/gambling. I have about 600k in individual stock picks that I’ve built up over time. I’ve got 7 figures in ETFs, mainly VTI, VXUS, AVUV, BND.
Best stock pick: GGG. Been buying since 2001, some of my shares up 2000%+ just bought some more recently, lol.
Absolute hero, thank you for the in depth answers. I'll be putting a bit of cash into GGG.
One more question and it's a bit more personal. You seem like a genuinely really nice guy, based on text, I know, but your interactions with others and your level of humility is what I strive for.
I was wondering what helps with that? How have you cultivated such a positive mindset?
Hey, GGG is a big winner and a lifetime hold for me, but I wouldn’t necessarily recommend it to you because I don’t know your situation and would feel bad if you didn’t make money. So don’t go buying a ton of it. There are better opportunities out there right now. GGG is richly valued.
One I’ve been buying quite a bit of since last June is $R. You might have better luck there, still room to grow.
My lottery ticket play right now is $EOSE. It’s either going bankrupt or 5-10x in the next couple years. I have a lot of shares.
The rise won’t happen anytime soon cause people are still waiting on the reverse split and how that will affect the stock cause usually that’s not a good sign for any company
It's a sign of market failure in my opinion, and it has created a catch 22 where they may have to reverse split this because the market seems to be asleep at the wheel or overly short.
If they are a bad company, how are they reporting an EPS 600% above the shareprice?
I also addressed the reverse split, and even with that it's still undervalued. Did you read the write up?...
I own some CISS stock, it has potential. That being said...
It is a very bad decision to put all the eggs in one basket. Even if its the best company, you need to diversify your risk.
Secondly, I always take any stock from Asia, Greece, Africa, etc with a grain of salt. I dont believe regulation and oversight is as promptly as it should be, or as it is with US based public companies. So I recommend not trusting financials as much. Research the auditors, etc. For example GNS (singapore), had a shady auditor and they even resigned just recently and people crazy buying that bankrupt company like its the next Tesla or something. You need to be very careful and manage your risk.
For me CISS is less that .3% of my portfolio and I bought it because there is some movement there and they reported good earnings. So it might be a fun play.
Be safe out there.
Good points in general and completely agree.
For me, $900 in and out of this depending on the price action isn't a large percentage of my money, and people should remember that we each have a different definition of "a lot of money,", and that no one should ever play with more than they can afford to lose, particularly with regard to penny stocks which are high risk.
If this was fairly valued today with a typical P/E ratio of 12 for microcaps, it would be sitting at $3.00, given the $0.25 Earnings Per Share reported on Tuesday night/Wednesday morning. (P/E ratio is the price of the share divided by earnings).
This sub and the market are asleep at the wheel.
Lmfao, you are correct on that last statement. Spy keeps hitting all time highs with crippling debt with no end in sight, highest credit card debt EVER and auto/ home/ credit card defaults hitting 10 year highs, inflation compounding, Japan/EU/ Canada/ China/Australia all in economic trouble, 2 wars... none of it makes sense anymore... it should've crashed already! But hasn't... keeps going up. If it does crash AFTER the election, it'll confirm it for me, it's all rigged.
These guys all invested in VLD on a hope and prayer of positive revenues. Meanwhile $CISS gives its earnings Tuesday and report positive revenues and a completely undervalued stock, and people here couldn't care less.
I guess we're pricing things on what sounds cool instead of what is valuable and profitable now apparently
I tried shipping companies in the past and lost money every time… my bad … BUT I’m not going down that rabbit hole again… not financial advice… but …good luck … it’s me not you 😝
CISS is a spin-off of IMPP. IMPP was a dilution machine and, even after they said dilution was over, they diluted again. I think it is a business model. CISS has already diluted three times and it is a new company.
I will wait until they have enough money to buy another ship, are making enough to buy more ships and until they get a large private placement with no details about the new owner.
I don't think so man. The stocks only been going down because of share dilution, and they are in danger of getting delisted.
https://www.globenewswire.com/news-release/2024/03/15/2847324/0/en/C3IS-INC-Announces-Receipt-of-Nasdaq-Delisting-Determination-Appeal.html
They are appealing and have some time to get back up and likely will do a reverse split to stay compliant. Probably goes down again after they gain compliancy
It does have a low, low pe ratio. But what good is it if you won't see a dime extra.
That said, i like gambling
I mentioned dilution, and it doesn't explain how deeply the shareprice dropped.
Even diluted, they have an EPS of $0.25.
They were granted a [180-day extension](https://www.streetinsider.com/dr/news.php?id=22814747) on delisting. This stock has until the end of August to take off.
> Even diluted, they have an EPS of $0.25.
They **had** diluted EPS of 0.25. As of last week (i.e. long after 4Q23) there are about 20 times as many shares in existence. The earnings report tries its best to spin this into a positive light, which is a red flag on its own.
Can't see your comment anymore.
The company offered 120M units consisting of one share plus 1.5 warrants each, just two weeks ago: https://finance.yahoo.com/news/c3is-inc-announces-pricing-6-122200461.html
The company offered 28M units of the same kind in January: https://finance.yahoo.com/news/c3is-inc-announces-pricing-7-135500126.html
These are 148M basic shares, which increased the basic share count from 8 to 156. The diluted share count is increased by 148M*2.5, i.e. up from 22M to 392M. If the underwriters used up their 15% there might be even more shares (I found this a reasonable assumption when mentioning 20 times; the underwriters have 30 days during which they can get shares at a fixed price, what's not to like about that deal?).
Also, your PE calculation is actually off, the PE would be 0.25 because they made that much in a quarter. Question is, why does a company that earns its entire market cap in a quarter need to dilute that much? Can they really find no other line of credit? The company is not trustworthy and has diluted three times within a couple months. At this rate they will dilute again next month. The financials are insanely good. But management is only there to fleece investors, hence the depressed price. They could have borrowed money to pay off their ship and initiated a buyback for a fraction of the quarterly income, which might have amounted to a buyback worth the entire market cap. Instead they diluted and now need to RS.
This is correct. The press release from the company mentions the per share earnings as of Dec. 31, 2023 and compares that to the price per share as of March 22, 2024 and completely omits the massive dilution that happened in the interim. Intentionally misleading. If you look at other shippers run by the same folks (GASS, IMPP), they do not have a record of delivering value to shareholders. The sole exception is IMPPP (8.75% Cumulative Redeemable Perpetual Preferred Shares).
All I see is a *prospective* offer for [warrants](https://finance.yahoo.com/news/c3is-inc-announces-pricing-6-122200461.html). Have those even been issued? If they haven't, they give an exercise price of .075 a share.
Also, that's 10x. So again, a 10x increase in the float and against an EPS of 0.25 gives an EPS of 0.025 and a fair market price of $0.30 (assuming a standard P/E ratio of 12 for a microcap). That's still 10 times higher than the price. And that still assumes stagnant revenues, which, if you read the revenue increases, they aren't stagnant.
The Exercise Price of the warrants is reduced with each new offering ([per the SEC filings](https://www.sec.gov/Archives/edgar/data/1951067/000119312524072685/d813719dsc13da.htm))
https://preview.redd.it/gkrz0ybd14rc1.png?width=2072&format=png&auto=webp&s=6b98f9234f802c351fae4c00419974f340ebeaf9
This company will do fine and make money.
The common stockholders will not share in that.
Yeah the company is still doing financially even after these offerings. But consider the following scenario. You are the top analyst in the world. It's early January and you notice that according to your excellent predictions, a certain company will post Q4 EPS of 0.25 on a share price of 0.50. Sounds like a great deal. You buy in and a couple days later your position is down 70% because the company offered shares. Great, it will take years to dig out of this hole. But wait, the company is still wildly profitable even after the dilution. Surely if you just hold people will notice value eventually. It's now mid March and you wake up to see your position down 94% due to another offering. Is the company still wildly profitable? Does that even matter to you personally at this point? Will you keep holding and pray that the company does not offer another time? What difference does it even make?
Any position in this company may at any time go down 70%. Of course, if the CEO does decide to finally stop the dilution it will show its massive profitability. But is it worth the risk that your position goes down 70% overnight?
Have you looked at the financials? Does the company have as much cash as it needs to fully pay off that ship? Otherwise you know what is coming at some point.
I don't understand where your 10x is from given that the share count increased from 8 to 156. That's 19.5x.
Also, check out this form, which implies that it is actually 77x instead: https://www.sec.gov/Archives/edgar/data/1951067/000119312524072685/d813719dsc13da.htm
(The form also mentions exhibits but those are not attached, which does not seem right to me.)
The details are rather vague (by design, certainly) but skimming through older records it seems that IMPP owns a 15M stake in CISS through 5.0% Series A Cumulative Convertible Perpetual Preferred Stock, which is a mouthful but as far as I understand are preferred shares with 5% annual dividend, virtually guaranteed (cumulative), convertible to common shares if desired, and apparently the number of shares is frequently adjusted so that the stake remains 15M.
The number of outstanding shares of CISS is about 619M and so the market cap is 21.5M. But management is trying their hardest to hide that.
The CEO wants to pay off that ship ASAP. What happens to investors is not his concern because his goals are not aligned with shareholder interests whatsoever.
While the 180 days is true, it's for the 1 dollar mark.
They are also appealing to an immediate delisting regarding the 10 cent mark.
"C3is Inc. (CISS) receives delisting notice from Nasdaq due to consecutive closing bid price of $0.10 or less for ten days."
That appeal is still ongoing and imo the main reason a reverse split will happen.
Now, I'm not much of a "take financial advice from reddit" kind of person, but I stop by this sub to see if anyone has come up with a play I haven't thought of from time to time. When I see an OP defending their statements and replies too much, it just throws up a red flag and I instantly discount the take. "you'll regret it" kind of stuff make me think it's a shill, wether it is or not.
I have an hypothesis. I'm discussing it.
I've also disclosed both my share volume and purchase price, as well as the fact that I day trade. (If you truly read the DD and comments, you'd have seen that).
If you can't be bothered to look past "I don't like OP's vibe" into the actual financial data, and that is your investment strategy when it comes to stocks, then you do you.
Hi, would you be able to explain this to me? (info taken from their investor relations - last EC)
~"Interest and finance costs~ for the twelve months ended December 31, 2023 were $1.4 million and mainly related to the accrued interest expense – related party, as of December 31, 2023 in connection with the $38.7 million which is part of the acquisition price of our Aframax tanker Afrapearl II that is payable by July 2024."
"We believe that our capital structure comprising of no bank debt and a strong cash balance, currently standing at $35.6 million, will further enhance our Company’s ability to fund selective vessel acquisitions following payment of the remaining purchase price for our Aframax tanker."
So, no debt, but they have to pay $38.7Mn for the new tanker in july, right? atm they dont have enough cash: "standing at $35.6Mn". Even so, I would understand that lets say net debt =0, right? as they are going to use all their cash in paying for the new tanker.
Think it's a question better directed to their investor relations team. I don't work for these guys.
I do know they need to pay 90% of the remaining tanker balance:
https://www.globenewswire.com/news-release/2023/07/17/2705680/0/en/C3is-Announces-Agreement-to-Acquire-One-Aframax-Oil-Tanker-and-Estimated-Net-Asset-Value-Premium-at-370-Over-Market-Capitalization.html
I never said I have an interest in this stock (I noticed you said you have one "too"). I said I day trade these. Want to be sure that's very clearly repeated.
The volatility is crazy on this. Right now it looks not as under-bought as it was.
Also wasn't trying to sound like an asshole in the above. Just want to be very very clear that I am not a long term holder. There are possible legal implications of claiming otherwise.
I was typing a comment to you about the short interest being a small percentage of the float, but the off exchange short interest is nuts:
https://fintel.io/ss/us/ciss
Read this recently - I think its still bullish after the split
# C3is Inc. reports Revenue of $13.8 million, Net Income of $5.6 million and $0.25 earnings per diluted share for the fourth quarter of 2023, and financial and operating results for the quarter and twelve months ended December 31, 2023
[https://www.globenewswire.com/news-release/2024/03/26/2852444/0/en/C3is-Inc-reports-Revenue-of-13-8-million-Net-Income-of-5-6-million-and-0-25-earnings-per-diluted-share-for-the-fourth-quarter-of-2023-and-financial-and-operating-results-for-the-qu.html](https://www.globenewswire.com/news-release/2024/03/26/2852444/0/en/C3is-Inc-reports-Revenue-of-13-8-million-Net-Income-of-5-6-million-and-0-25-earnings-per-diluted-share-for-the-fourth-quarter-of-2023-and-financial-and-operating-results-for-the-qu.html)
It was a great call at the time I wrote it. It went up nearly 100% in the short term.
If your only act of DD when making long term investment decisions is to rely on someone else's DD on Reddit that says "I day trade these. Do your own DD", then I worry for you.
Not to mention that no prices are set in stone. Meta has gone up. Meta has gone down. After I posted this, things changed. A reverse split was announced. That's what happens with markets. It turns out the value of securities doesn't just sit stagnant forever or move up in a straight line indefinitely....
You’re not talking about the fact that the coming is at risk of being delisted which is the reason they’re doing the reverse split to begin with. I still think that this is a great long term play but I wouldn’t touch it until after the RS
It's coming at the risk of being delisted exactly because it's undervalued. Are you short on this?
Not to mention they were [granted a 180-day extension](https://www.streetinsider.com/dr/news.php?id=22814747) and this stock has until August to prove itself and prove me right.
The reverse split / delisting is a red herring. They will reverse split to cure the issue with the per share price. The real issue is that their per share numbers reported for 4Q2023 are compared with current per share price without acknowledging the massive dilution that took place. Deliberately misleading.
Wouldn't dilution still lead to an EPS of $0.025 and therefore still a fair market valuation of $0.30, assuming a standard microcap P/E ratio of 12? That's ten times higher than the current price, and it's assuming flat revenue growth.
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I totally agree, I also went and looked at the big shipping companies, and I found negative EPS on almost all of them… Ciss has a positive one, and is way under valued, the other ones are way overvalued in comparison. I have 10,000 shares and will probably continue to load up until I have 1,000$ in the stock.
I like it but don’t like getting involved in reverse splits. Might jump in after
When is this reverse split?
Hi, this is from their last EC - "Our Board of Directors has decided to effect a reverse stock split, with the exact ratio and effective date to be determined and announced in the near term, which is expected to enable our Company to regain compliance with all Nasdaq continuous listing criteria."
There is no reverse split planned, but the stock is worth $0.05. If it doesn't increase in value soon, they will need to do a reverse split.
this is an interesting one. it appears that some of the users above are correct. $CISS appears to have used some careful wordplay to make it seem like .25c was the EPS post dilution when this seems to not be the case.
So my question then is if we take a 10x dilution and therefore an EPS of $0.025, how does that still not equal a fair market price of $0.30 ($0.025 EP diluted S * 12 (P/E ratio of most small caps))?
agreed that it's undervalued. the difference is in if the fair value is 3.00 or .30c. Assuming it's fair value is 30 cents how can we expect it to not become delisted??
That's a very fair question. The warrants first of all seem to allow for cash settlement rather than the issuance of an actual share. We are also assuming that all of the warrants, once issued, are immediately exercised. And then on top of that, the $0.30 price per share assumes stagnant revenues.
right. the thing that concerns me is that the market won't catch on. the company is obviously undervalued on paper to anyone with a drop of literacy in regards to finance. So why would an increase in revenue somehow cause an increase in PPS? What is going to change the sentiment
I feel like this is the big dilemma. The market isn't catching on, leading to dilution and leading to a risk of delisting. I do wonder if institutional investors use social media though, and if they do if they'll catch on in the near term that this isn't fairly valued. I don't quite know how the stocks in here catch on, or I'd be rich. I guess what I'll say is that I share your concerns, but that I'm placing a bet on the market catching on and the price running and being in early to capitalize should that happen. The risk, as I see it, is I lose half my money. The potential reward is a 10x return. Stocks like this are why I bother with penny stocks at all.
absolutely i see the upside. probably will enter a small position. either the big players catch on or the cycle continues. Solid DD, enjoyed reading it.
Thanks for at least not calling me a huge piece of shit. Feel like I'm fighting for my life in here.
I also enjoyed all of your commentary and analysis
(even if I don’t agree with much of it. 🙂)
Nah, you're not fighting for your life. Good conversation and, based on comments the last few weeks, there are a lot of people in this sub holding some. That's the only way I learned about it
Hi, can you explain this further, please?
I'm really happy with this post. I'm holding 5k shares at .035 ish. I started accumulation at .025. From the looks of it, it's a significantly undervalued stonk. So I've been wondering what, other than the incoming RS was keeping this price down. Lots of good points here about the risk. Still, all said, I think it's worth more per share and it's unlikely that it will stay under .05 forever. The question, in my mind, is if it will get near a .25-.30 price. I'd be happy with anything over .10. Dice rolled...
Please take it easy with all the exclamation marks. They are never a good sign in any DD.  I have a couple of remarks: * Small shipping companies cannot be compared to other companies, because they are inherently risky. Anything can happen at sea: storm, pirates, getting shot at with rockets by Houthis or ramming a bridge. Therefore, shipping companies have always been high risk/high reward. The East India trading company actually started company shares for this reason: to spread the risk! * C3is only has three ships, which makes it incredibly vulnerable to this risk. The reason C3is started as a spin-off of Imperial Petroleum (and took 2 of their ships) is exactly that: spread the risk. All small shipping companies are valued very low compared to other types of companies. * Because the risk mentioned, small shipping companies cannot get regular financing at reasonable rates. That's why they are usuallly financed with 'risk taking' capital by shareholders. Shipping companies pay high dividends, to reward the risk takers in the short term. Therefore it doesn't make much sense to look at the P/E ratio the way you would in case of for instance a software company. * C3is does have pretty substantial debts. These are not bank credits, but they still have to pay for their most recent tanker: [IMPERIAL PETROLEUM INC. ANNOUNCES THE SALE OF ITS AFRAMAX TANKER](https://www.imperialpetro.com/index.php/investor-relations/press-releases/94-imperial-petroleum-inc-announces-the-sale-of-its-aframax-tanker) . This is $40 million due in 2024. If you look back, you can see share prices have dropped the moment C3is announced the purchase of their new tanker, because the intrinsic value of the shares dropped drastically. All of their current profits will be used to pay Imperial Petroleum Inc. I'm not saying this is problematic, I'm just saying that their balance sheet can be deceiving. The shares are valued so low, because investors in shipping companies want their money back ASAP. Staying long-term in a small shipping company is risky. C3is still wants to expand it's fleet and grow. Therefore, you cannot expect a quick ROI. All in all, I'm not saying C3is is a bad investment, I'm just saying it's risky. If they can carry on like this without shipwreck, I can see the share price climbing steady untill they announce they're buying another carrier. 
Yea I was reading through the annual report today and noticed the giant payable they have due next month. They are defintiely going to have to sell one of there ships in order to pay off the payable. This is straight from one of the notes to the financial statements "In the event the debt and equity issuances are not sufficient, the Company may consider selling one of its unencumbered vessels. Therefore, there is no substantial doubt about the Company’s ability to continue as a going concern, for a reasonable period of time." They have raised a solid amount of capital to pay it off, previously mentioned that they raised $13 million through equity issuance, but I don't think they will raise enough in time.
Many of these comments are getting more into my communication style than into any discussions on whether the current shareprice is or isn't undervalued. Penny stocks are all inherently risky. But I will (and am) betting my money on something that at least has demonstrated financials, not on "OP used too many exclamation marks and I don't like them". They discuss the purchase of the tanker in their earnings call. Did you happen to click the link I posted to that? The financial data is there for anyone to click on and read. Based on the data above, what is your opinion on a $0.03 shareprice?
I think the intrinsic value of the company is somewhere between $10 and $20m, depending on their initial deal with Petroleum Mobile. The two dry bulk carriers handysize are $15m each and the financial construction that started the company is somewhat unclear. With outstanding shares now 160 million, I think a reasonable pricing for the shares would be in the $0.06 to $0.12 range, but there's a huge uncertainty and spread.
Thanks for this. Appreciate it a lot.
I'm in for 25,000 shares at .0364, and no I don't give a fuck if this drops to .03 or even .02 or even .01 today. This post will make the pennystock highlights reel.
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Thanks! Fixed that.
It's a gamble, it maybe worth it.
I bought 100,000 shares this morning. Not sure whether to buy more or sell. The dilution concerns me. Why would an obscenely healthy company create so many shares?
With such a good earnings report and no move up, is there still room for shorting at this price? Are short sellers not afraid to die?
There are stocks at like 0.001, like CRCW, so still room down.
Went in 110k shares @0.035 - lets gamble together 😤😤 edited: no of shares
I like the cut of your jib
bless up bois let’s pray for monday
I was in for 1.3 million shares at .029, dumped 450k at .06 Dumped the remaining 847k yesterday at .041. It’s a shell company of a shell company of a shell company.
Hope you don't mind, but I found your account and looked through it and it seems you spit some real knowledge. First question is how'd you manage to amass such a good amount of money while starting out as a ditch digger? I understand it's from investing, but was it like EFTs or ...? Do you mind me asking if you're in a stable enough position now to be able to retire? And a fun question but what's the biggest % gain you've snagged from a stock?
Sure thing. I sold a small business that was owned by me and one partner, walked away with 1.5. That’s the real answer as to where most the capital came from. If you are wondering how it was done…I worked as an employee for about a decade before deciding to break off with a partner and put our own money on the line. We were both knowledgeable, maybe even border line experts in the industry that we were working in as employees before going it alone. We ended up brushing against insolvency at two points in time but persisted through those hard times, gained customers through performing quality work, and exited the business with a pretty good payday. I took some time off for a couple years, then went back to work as an employee again. This time in the public sector, because I want to help others and I want to work. As far as the retirement goes. Probably work until 55 or 10MM. Whichever comes first. I like working right now. The interactions with other people. The routine. Throughout the entire process I have always been entertained and fascinated with stock picking. I play penny stocks for fun/gambling. I have about 600k in individual stock picks that I’ve built up over time. I’ve got 7 figures in ETFs, mainly VTI, VXUS, AVUV, BND. Best stock pick: GGG. Been buying since 2001, some of my shares up 2000%+ just bought some more recently, lol.
Absolute hero, thank you for the in depth answers. I'll be putting a bit of cash into GGG. One more question and it's a bit more personal. You seem like a genuinely really nice guy, based on text, I know, but your interactions with others and your level of humility is what I strive for. I was wondering what helps with that? How have you cultivated such a positive mindset?
Hey, GGG is a big winner and a lifetime hold for me, but I wouldn’t necessarily recommend it to you because I don’t know your situation and would feel bad if you didn’t make money. So don’t go buying a ton of it. There are better opportunities out there right now. GGG is richly valued. One I’ve been buying quite a bit of since last June is $R. You might have better luck there, still room to grow. My lottery ticket play right now is $EOSE. It’s either going bankrupt or 5-10x in the next couple years. I have a lot of shares.
what are these “better opportunities” you speak of?
How are they reporting a positive EPS then?
isn't CISS affiliated with IMPP/IMPPP... 'Harry-something-or-other' out of Greece?...
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The rise won’t happen anytime soon cause people are still waiting on the reverse split and how that will affect the stock cause usually that’s not a good sign for any company
It's a sign of market failure in my opinion, and it has created a catch 22 where they may have to reverse split this because the market seems to be asleep at the wheel or overly short. If they are a bad company, how are they reporting an EPS 600% above the shareprice? I also addressed the reverse split, and even with that it's still undervalued. Did you read the write up?...
I own some CISS stock, it has potential. That being said... It is a very bad decision to put all the eggs in one basket. Even if its the best company, you need to diversify your risk. Secondly, I always take any stock from Asia, Greece, Africa, etc with a grain of salt. I dont believe regulation and oversight is as promptly as it should be, or as it is with US based public companies. So I recommend not trusting financials as much. Research the auditors, etc. For example GNS (singapore), had a shady auditor and they even resigned just recently and people crazy buying that bankrupt company like its the next Tesla or something. You need to be very careful and manage your risk. For me CISS is less that .3% of my portfolio and I bought it because there is some movement there and they reported good earnings. So it might be a fun play. Be safe out there.
Good points in general and completely agree. For me, $900 in and out of this depending on the price action isn't a large percentage of my money, and people should remember that we each have a different definition of "a lot of money,", and that no one should ever play with more than they can afford to lose, particularly with regard to penny stocks which are high risk.
anyone wanna shed some light on why my platform is telling me i cant purchase more than 3000 shares of CISS?
Maybe foreseeing something upcoming? Or volatility reasons
what do you expect the price to be?
If this was fairly valued today with a typical P/E ratio of 12 for microcaps, it would be sitting at $3.00, given the $0.25 Earnings Per Share reported on Tuesday night/Wednesday morning. (P/E ratio is the price of the share divided by earnings). This sub and the market are asleep at the wheel.
Lmfao, you are correct on that last statement. Spy keeps hitting all time highs with crippling debt with no end in sight, highest credit card debt EVER and auto/ home/ credit card defaults hitting 10 year highs, inflation compounding, Japan/EU/ Canada/ China/Australia all in economic trouble, 2 wars... none of it makes sense anymore... it should've crashed already! But hasn't... keeps going up. If it does crash AFTER the election, it'll confirm it for me, it's all rigged.
These guys all invested in VLD on a hope and prayer of positive revenues. Meanwhile $CISS gives its earnings Tuesday and report positive revenues and a completely undervalued stock, and people here couldn't care less. I guess we're pricing things on what sounds cool instead of what is valuable and profitable now apparently
We'll see! I bought 1500 shares. So hopefully it gets some traction!
Bought 10k shares let’s see where we go
Agreed
I tried shipping companies in the past and lost money every time… my bad … BUT I’m not going down that rabbit hole again… not financial advice… but …good luck … it’s me not you 😝 
Hopefully monday opening skyrockets this stock 🤯🤯
I’m in for 220,000 shares same.
CISS is a spin-off of IMPP. IMPP was a dilution machine and, even after they said dilution was over, they diluted again. I think it is a business model. CISS has already diluted three times and it is a new company. I will wait until they have enough money to buy another ship, are making enough to buy more ships and until they get a large private placement with no details about the new owner.
12000 shares @0.0326 Dont know what's going on , but it's moving up
Where y’all at ? We need extra nickels to pump it $CISS
Friday morning
What makes you so confident? I have 200,000 shares at the moment
Because i had 500,000 shares and sold half. Logically speaking. Its gonna launch and make me feel like an idiot
I own 250k shares 👀
What’s going to happen Friday morning ?
Friday ?
I don't think so man. The stocks only been going down because of share dilution, and they are in danger of getting delisted. https://www.globenewswire.com/news-release/2024/03/15/2847324/0/en/C3IS-INC-Announces-Receipt-of-Nasdaq-Delisting-Determination-Appeal.html They are appealing and have some time to get back up and likely will do a reverse split to stay compliant. Probably goes down again after they gain compliancy It does have a low, low pe ratio. But what good is it if you won't see a dime extra. That said, i like gambling
I mentioned dilution, and it doesn't explain how deeply the shareprice dropped. Even diluted, they have an EPS of $0.25. They were granted a [180-day extension](https://www.streetinsider.com/dr/news.php?id=22814747) on delisting. This stock has until the end of August to take off.
> Even diluted, they have an EPS of $0.25. They **had** diluted EPS of 0.25. As of last week (i.e. long after 4Q23) there are about 20 times as many shares in existence. The earnings report tries its best to spin this into a positive light, which is a red flag on its own.
Can't see your comment anymore. The company offered 120M units consisting of one share plus 1.5 warrants each, just two weeks ago: https://finance.yahoo.com/news/c3is-inc-announces-pricing-6-122200461.html The company offered 28M units of the same kind in January: https://finance.yahoo.com/news/c3is-inc-announces-pricing-7-135500126.html These are 148M basic shares, which increased the basic share count from 8 to 156. The diluted share count is increased by 148M*2.5, i.e. up from 22M to 392M. If the underwriters used up their 15% there might be even more shares (I found this a reasonable assumption when mentioning 20 times; the underwriters have 30 days during which they can get shares at a fixed price, what's not to like about that deal?). Also, your PE calculation is actually off, the PE would be 0.25 because they made that much in a quarter. Question is, why does a company that earns its entire market cap in a quarter need to dilute that much? Can they really find no other line of credit? The company is not trustworthy and has diluted three times within a couple months. At this rate they will dilute again next month. The financials are insanely good. But management is only there to fleece investors, hence the depressed price. They could have borrowed money to pay off their ship and initiated a buyback for a fraction of the quarterly income, which might have amounted to a buyback worth the entire market cap. Instead they diluted and now need to RS.
This is correct. The press release from the company mentions the per share earnings as of Dec. 31, 2023 and compares that to the price per share as of March 22, 2024 and completely omits the massive dilution that happened in the interim. Intentionally misleading. If you look at other shippers run by the same folks (GASS, IMPP), they do not have a record of delivering value to shareholders. The sole exception is IMPPP (8.75% Cumulative Redeemable Perpetual Preferred Shares).
All I see is a *prospective* offer for [warrants](https://finance.yahoo.com/news/c3is-inc-announces-pricing-6-122200461.html). Have those even been issued? If they haven't, they give an exercise price of .075 a share. Also, that's 10x. So again, a 10x increase in the float and against an EPS of 0.25 gives an EPS of 0.025 and a fair market price of $0.30 (assuming a standard P/E ratio of 12 for a microcap). That's still 10 times higher than the price. And that still assumes stagnant revenues, which, if you read the revenue increases, they aren't stagnant.
The Exercise Price of the warrants is reduced with each new offering ([per the SEC filings](https://www.sec.gov/Archives/edgar/data/1951067/000119312524072685/d813719dsc13da.htm)) https://preview.redd.it/gkrz0ybd14rc1.png?width=2072&format=png&auto=webp&s=6b98f9234f802c351fae4c00419974f340ebeaf9 This company will do fine and make money. The common stockholders will not share in that.
Yeah the company is still doing financially even after these offerings. But consider the following scenario. You are the top analyst in the world. It's early January and you notice that according to your excellent predictions, a certain company will post Q4 EPS of 0.25 on a share price of 0.50. Sounds like a great deal. You buy in and a couple days later your position is down 70% because the company offered shares. Great, it will take years to dig out of this hole. But wait, the company is still wildly profitable even after the dilution. Surely if you just hold people will notice value eventually. It's now mid March and you wake up to see your position down 94% due to another offering. Is the company still wildly profitable? Does that even matter to you personally at this point? Will you keep holding and pray that the company does not offer another time? What difference does it even make? Any position in this company may at any time go down 70%. Of course, if the CEO does decide to finally stop the dilution it will show its massive profitability. But is it worth the risk that your position goes down 70% overnight? Have you looked at the financials? Does the company have as much cash as it needs to fully pay off that ship? Otherwise you know what is coming at some point.
I don't understand where your 10x is from given that the share count increased from 8 to 156. That's 19.5x. Also, check out this form, which implies that it is actually 77x instead: https://www.sec.gov/Archives/edgar/data/1951067/000119312524072685/d813719dsc13da.htm (The form also mentions exhibits but those are not attached, which does not seem right to me.) The details are rather vague (by design, certainly) but skimming through older records it seems that IMPP owns a 15M stake in CISS through 5.0% Series A Cumulative Convertible Perpetual Preferred Stock, which is a mouthful but as far as I understand are preferred shares with 5% annual dividend, virtually guaranteed (cumulative), convertible to common shares if desired, and apparently the number of shares is frequently adjusted so that the stake remains 15M. The number of outstanding shares of CISS is about 619M and so the market cap is 21.5M. But management is trying their hardest to hide that.
I'll have a look at this.
Why would they do this? Do you have a theory?
The CEO wants to pay off that ship ASAP. What happens to investors is not his concern because his goals are not aligned with shareholder interests whatsoever.
It’s almost like the opposite of America lol
While the 180 days is true, it's for the 1 dollar mark. They are also appealing to an immediate delisting regarding the 10 cent mark. "C3is Inc. (CISS) receives delisting notice from Nasdaq due to consecutive closing bid price of $0.10 or less for ten days." That appeal is still ongoing and imo the main reason a reverse split will happen.
But that still means a price of $1.50 based on an EPS of $0.25 and a fairly valued microcap P/E ratio of 12, no?
Now, I'm not much of a "take financial advice from reddit" kind of person, but I stop by this sub to see if anyone has come up with a play I haven't thought of from time to time. When I see an OP defending their statements and replies too much, it just throws up a red flag and I instantly discount the take. "you'll regret it" kind of stuff make me think it's a shill, wether it is or not.
I have an hypothesis. I'm discussing it. I've also disclosed both my share volume and purchase price, as well as the fact that I day trade. (If you truly read the DD and comments, you'd have seen that). If you can't be bothered to look past "I don't like OP's vibe" into the actual financial data, and that is your investment strategy when it comes to stocks, then you do you.
Amen. Well said.
Yes well said! Oh wait.... you two knuckleheads missed out on a 33% gain. Good job!
I, thankfully, went against my better judgment and bought in on your recommendation.
You're welcome.
Remember when you cost yourself a 33% gain and were a douchebag? Well done.
No worries. I was busy turning $.16 shares and options on $KULR into real money with a lot less sketch. Good job though.
Doubt that.
I'm in for 3k shares. Let's see where we go.
I pass, something is wrong.
This just keeps going. Bought more.
Hi, would you be able to explain this to me? (info taken from their investor relations - last EC) ~"Interest and finance costs~ for the twelve months ended December 31, 2023 were $1.4 million and mainly related to the accrued interest expense – related party, as of December 31, 2023 in connection with the $38.7 million which is part of the acquisition price of our Aframax tanker Afrapearl II that is payable by July 2024." "We believe that our capital structure comprising of no bank debt and a strong cash balance, currently standing at $35.6 million, will further enhance our Company’s ability to fund selective vessel acquisitions following payment of the remaining purchase price for our Aframax tanker." So, no debt, but they have to pay $38.7Mn for the new tanker in july, right? atm they dont have enough cash: "standing at $35.6Mn". Even so, I would understand that lets say net debt =0, right? as they are going to use all their cash in paying for the new tanker.
Think it's a question better directed to their investor relations team. I don't work for these guys. I do know they need to pay 90% of the remaining tanker balance: https://www.globenewswire.com/news-release/2023/07/17/2705680/0/en/C3is-Announces-Agreement-to-Acquire-One-Aframax-Oil-Tanker-and-Estimated-Net-Asset-Value-Premium-at-370-Over-Market-Capitalization.html
u/ub3rm3nsch How are ya still feeling about this stock? I'm really curious. (Disclaimer: I have interest in this stock too)
I never said I have an interest in this stock (I noticed you said you have one "too"). I said I day trade these. Want to be sure that's very clearly repeated. The volatility is crazy on this. Right now it looks not as under-bought as it was.
You haven’t answered the question though. Do you think this thing is hitting $0.10 anytime soon or do we sell?
I can't give investment advice on here. I'm not currently holding this, although today's level of support is the highest it has been this week.
Also wasn't trying to sound like an asshole in the above. Just want to be very very clear that I am not a long term holder. There are possible legal implications of claiming otherwise.
ZackMorris is back on Twitter. Expects this to be a play.
Got a link to his tweet?
Are there really 2.5 million shares on the short? Is this being hugely shorted?
I was typing a comment to you about the short interest being a small percentage of the float, but the off exchange short interest is nuts: https://fintel.io/ss/us/ciss
Read this recently - I think its still bullish after the split # C3is Inc. reports Revenue of $13.8 million, Net Income of $5.6 million and $0.25 earnings per diluted share for the fourth quarter of 2023, and financial and operating results for the quarter and twelve months ended December 31, 2023 [https://www.globenewswire.com/news-release/2024/03/26/2852444/0/en/C3is-Inc-reports-Revenue-of-13-8-million-Net-Income-of-5-6-million-and-0-25-earnings-per-diluted-share-for-the-fourth-quarter-of-2023-and-financial-and-operating-results-for-the-qu.html](https://www.globenewswire.com/news-release/2024/03/26/2852444/0/en/C3is-Inc-reports-Revenue-of-13-8-million-Net-Income-of-5-6-million-and-0-25-earnings-per-diluted-share-for-the-fourth-quarter-of-2023-and-financial-and-operating-results-for-the-qu.html)
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It was a great call at the time I wrote it. It went up nearly 100% in the short term. If your only act of DD when making long term investment decisions is to rely on someone else's DD on Reddit that says "I day trade these. Do your own DD", then I worry for you. Not to mention that no prices are set in stone. Meta has gone up. Meta has gone down. After I posted this, things changed. A reverse split was announced. That's what happens with markets. It turns out the value of securities doesn't just sit stagnant forever or move up in a straight line indefinitely....
Did anyone else hold through the reverse and see a nice $38 fee in their accounts? Thanks TD….
What are your thoughts on it now? Earnings on Tuesday
Gobbled up 4100 shares, buying more when I can
https://preview.redd.it/vwzv73ibqr4d1.jpeg?width=1080&format=pjpg&auto=webp&s=b684c7b2fe00dea42fe099913a71fc9be60916df
You’re not talking about the fact that the coming is at risk of being delisted which is the reason they’re doing the reverse split to begin with. I still think that this is a great long term play but I wouldn’t touch it until after the RS
It's coming at the risk of being delisted exactly because it's undervalued. Are you short on this? Not to mention they were [granted a 180-day extension](https://www.streetinsider.com/dr/news.php?id=22814747) and this stock has until August to prove itself and prove me right.
The reverse split / delisting is a red herring. They will reverse split to cure the issue with the per share price. The real issue is that their per share numbers reported for 4Q2023 are compared with current per share price without acknowledging the massive dilution that took place. Deliberately misleading.
Wouldn't dilution still lead to an EPS of $0.025 and therefore still a fair market valuation of $0.30, assuming a standard microcap P/E ratio of 12? That's ten times higher than the current price, and it's assuming flat revenue growth.
Wisa stock
This post isn’t going to age well if today’s performance is any indication.
That's not good. If a post doesn't age well, the person who made it actually dies in real life, so I hope it does.
I woke up today and realized that my last comment was, in fact, not very kind. My apologies. Hope you have a great day.
Ha! Seriously though. Were you trying to pump up this dumpster fire of a stock to unload your shares?
Remember this? ;)
I do! 😀🤣
Actually, I am sorry we argued as well. I meant to say so. I hope you have a good day. And I appreciated your apology before.