Falling like dominoes...
The system of capitalism and patent greed is taking it's toll; even if it seems subtle.
"...increase in the average aflatoxin in corn.
The system of capitalism and patent greed is taking it's toll; even if it seems subtle.
"...increase in the average aflatoxin in corn.
Many states in the United States reported an increase in the level of contamination of fungal infection of the corn crop in 2012, compared with what it was in 2011. For example, in Missouri for more than 50% of the corn, harvested in October, was contaminated by a fungus Aspergillus flavus (In 2011 this figure was 8%).
Last year, drought conditions contributed to the spread of the fungus Aspergillus (Aspergillus flavus) — a pathogen that leads to the accumulation of toxins that can cause the death of livestock and pets.
He makes much of the harvest in 2012 could not be used for food and feed purposes..."
http://survincity.com/2013/08/drought-in-the-u-s-has-led-to-the-growth-of-maize/
Eagle Bulk Shipping Inc. (NASDAQ:EGLE) suffered new low after a Seeking Alpha blog post was bearish on the stock, claiming Eagle is insolvent just like Genco. Verge Of Bankruptcy said “in its last quarterly filling, Genco listed assets of $2.9B. Turns out the bankruptcy court ruled their NAV was only $1.4B, well shy of the nearly $1.6B in debt it owed. Outcome: Genco shareholders are entitled to no recovery whatsoever. Now with Eagle, their balance sheet lists $1.7B in assets. Since the company has $1.2B in debt, it would appear on the surface that there’s plenty of money left over for shareholders. Well, that’s obviously not the case! Remember in the case of Genco, the judge agreed with the $1.4B valuation of the company, which is about 50 cents on the dollar. Using a similar ratio for Eagle gets you at a valuation of $0.8B or so. So shareholders are about $500M away from seeing a single penny!”
Eagle Bulk Shipping Inc. (NASDAQ:EGLE) Tumbles Amid Continued Scrutiny of SEC Filing
BY DAVID SCOUTS ON JULY 9, 2014 COMPANY
Shares in Eagle Bulk Shipping Inc. (NASDAQ:EGLE)
fell sharply on Tuesday, down some 34%,
and at their lowest since January 2013 in what looks to be a continued selloff six days after the company filed with the SEC its entry into a material definitive agreement.
egle stock name
Eagle Bulk Ships
www.eagleships.com/
Eagle Bulk Shipping Inc. is the largest US-based owner of Handymax dry bulk vessels. This modern fleet is comprised principally of Supramax class vessels, ...
Eagle Bulk Ships | Eagle Bulk Ships
Eagle Bulk Shipping Inc. is the largest US-based owner of Handymax dry bulk vessels. This modern fleet is comprised principally of Supramax class vessels, a larger and more efficient Handymax design that enjoys strong demand from customers around the world.
Genco, which owns or operates vessels that transport iron ore, coal, grain, steel and other products worldwide, listed assets of $2.4 billion and debt of $1.5 billion in its Chapter 11 petition, saying weakness in charter rates made it difficult for the company to pay creditors.
Default Waived
Before the filing, Genco hired Blackstone to explore a debt restructuring. Lenders agreed to waive default after Genco missed a $3.1 million interest payment on its convertible bond, according to a filing with the U.S. Securities and Exchange Commission. Genco made the payment on March 20.
http://www.bloomberg.com/news/2014-07-02/genco-wins-ruling-on-valuation-at-core-of-reorganization.html
Last year, drought conditions contributed to the spread of the fungus Aspergillus (Aspergillus flavus) — a pathogen that leads to the accumulation of toxins that can cause the death of livestock and pets.
He makes much of the harvest in 2012 could not be used for food and feed purposes..."
http://survincity.com/2013/08/drought-in-the-u-s-has-led-to-the-growth-of-maize/
Eagle Bulk Shipping Inc. (NASDAQ:EGLE) suffered new low after a Seeking Alpha blog post was bearish on the stock, claiming Eagle is insolvent just like Genco. Verge Of Bankruptcy said “in its last quarterly filling, Genco listed assets of $2.9B. Turns out the bankruptcy court ruled their NAV was only $1.4B, well shy of the nearly $1.6B in debt it owed. Outcome: Genco shareholders are entitled to no recovery whatsoever. Now with Eagle, their balance sheet lists $1.7B in assets. Since the company has $1.2B in debt, it would appear on the surface that there’s plenty of money left over for shareholders. Well, that’s obviously not the case! Remember in the case of Genco, the judge agreed with the $1.4B valuation of the company, which is about 50 cents on the dollar. Using a similar ratio for Eagle gets you at a valuation of $0.8B or so. So shareholders are about $500M away from seeing a single penny!”
Eagle Bulk Shipping Inc. (NASDAQ:EGLE) Tumbles Amid Continued Scrutiny of SEC Filing
BY DAVID SCOUTS ON JULY 9, 2014 COMPANY
Shares in Eagle Bulk Shipping Inc. (NASDAQ:EGLE)
fell sharply on Tuesday, down some 34%,
and at their lowest since January 2013 in what looks to be a continued selloff six days after the company filed with the SEC its entry into a material definitive agreement.
egle stock name
Eagle Bulk Ships
www.eagleships.com/
Eagle Bulk Shipping Inc. is the largest US-based owner of Handymax dry bulk vessels. This modern fleet is comprised principally of Supramax class vessels, ...
Eagle Bulk Ships | Eagle Bulk Ships
Eagle Bulk Shipping Inc. is the largest US-based owner of Handymax dry bulk vessels. This modern fleet is comprised principally of Supramax class vessels, a larger and more efficient Handymax design that enjoys strong demand from customers around the world.
Genco, which owns or operates vessels that transport iron ore, coal, grain, steel and other products worldwide, listed assets of $2.4 billion and debt of $1.5 billion in its Chapter 11 petition, saying weakness in charter rates made it difficult for the company to pay creditors.
Default Waived
Before the filing, Genco hired Blackstone to explore a debt restructuring. Lenders agreed to waive default after Genco missed a $3.1 million interest payment on its convertible bond, according to a filing with the U.S. Securities and Exchange Commission. Genco made the payment on March 20.
http://www.bloomberg.com/news/2014-07-02/genco-wins-ruling-on-valuation-at-core-of-reorganization.html
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