Good evening Bill,Originally Posted by billhart22
Here I am sitting in the hospital on my first night of 24hr call. And it really sucks!! hahaha
So far nobody dead yet (fingers crossed).
Oh, AND I broke up with my girlfriend last night. FML!
Hope your weekend is better than mine.
http://www.scandoil.com/moxie-bm2/ne...lling-ri.shtml
DryShips acquires the remainder of its drilling rig unit
Published Jul 10, 2009
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DryShips Inc.
DryShips Inc. has entered into an agreement to acquire the remaining 25% of the total issued and outstanding capital stock of Primelead Shareholders Inc. (Primelead). Upon closing of this transaction, Primelead will become a wholly owned subsidiary of the Company.
Primelead's principal assets include two owned and operational ultra deepwater semisubmersible drilling rigs, the Eirik Raude and the Leiv Eiriksson, and four newbuilding drillship contracts for Hulls 1837, 1838, 1865 and 1866. Upon delivery of the newbuilding drillships, Primelead will possess one of the youngest and most sophisticated fleets of ultra deepwater drilling rigs and drillships in the industry. The newbuilding drillships have contractual delivery dates commencing in the fourth quarter of 2010 and ending in the third quarter of 2011. In addition to its drilling rig assets, Primelead owns Ocean Rig ASA which manages the commercial, operational and technical aspects of the six drilling rig assets.
The consideration to be paid for the 25% interest in Primelead consists of a one-time $50.0 million cash payment on closing of the transaction, and the issuance of $280.0 million face value of convertible preferred stock ("Preferred Stock"). The Preferred Stock, which carries normal voting rights, will mandatorily convert into common shares of DryShips at a 27.5% premium to the established DryShips common share price of $5.36 per share. The Preferred Stock will mandatorily convert into common shares of DryShips in four equal increments that correspond to the contractual delivery of the four newbuilding drillships. The Preferred Stock bears a 6.75% per annum cumulative dividend payable in additional shares of Preferred Stock. The Preferred Stock can also be converted at any time by the holders at 42.9% premium to the established DryShips common share price of the $5.36 per share. The Sellers consist of a company controlled by DryShips' Chairman and Chief Executive Officer, George Economou, and other clients of Cardiff Marine Inc.
The transaction was negotiated and approved by the Audit Committee, which is comprised of DryShips' Independent Directors, acting as a Special Committee. The Audit Committee took the appropriate steps necessary to evaluate the transaction and determine its fairness. Evercore Partners acted as advisor to the Sellers.
Evangelos Mytilinaios, Chairman of the independent Audit Committee of DryShips, commented, "We are pleased to have signed the agreement to acquire the remaining 25% of Primelead. We continue to monitor the strengthening fundamentals of the ultra deepwater offshore drilling market and believe that the future prospects of this business are very bright. With Primelead as a wholly owned subsidiary, DryShips will now fully benefit from the expected free cash flows of our drilling rig unit which is operated by the experienced Ocean Rig management team comprised of seasoned industry executives with proven operational track records.
"In addition, with a majority of the consideration payable in mandatorily convertible Preferred Stock matching the contractual delivery dates of the four newbuilding drillships, the transaction aligns the interest of all the shareholders and is accretive to earnings. We are also pleased that our Chairman and CEO continues to show his long-term commitment to DryShips, maintaining his standing as DryShips' principal common shareholder. Finally, we believe this acquisition will provide DryShips more flexibility in the financing and employment of its offshore drilling units."
good evening Bill,
I have a buddy from Iwheel that needs some dd on bcle can you post any here...I will cut and paste...thanks
Good evening Shots,
Breaking up is always tough, unless you just really want to get rid of the woman. Then it is like a ton of bricks being lifted off of a guys chest.
Are you in the E.R.? That is where all of the action is (Just kidding)..lol
In the Medical ICU. And feeling like I have NO IDEA what I'm doing.Good evening Shots,
Breaking up is always tough, unless you just really want to get rid of the woman. Then it is like a ton of bricks being lifted off of a guys chest.
Are you in the E.R.? That is where all of the action is (Just kidding)..lol
Glad I got other knowledgeable doctors here to teach me what to do.
Good Evening Ray,
Let's see...11 P.M. at night and Ray is up...hmm, laughing....11 P.M. at night and Bill is up...hmmm
I will re-post some emails that were sent to me by the President of BCLE if I can find them.
You can start here:
They are a disabled veteran certified and ran company by disabled veterans and get preference on government contracts. They currently have bids in on 20 million dollars worth of the contracts. The are in an audit right now that will go into August and then some good things should be coming.
That is a start, Ray....feel free to copy and paste.
I will dig up the two letters from the president of BCLE and re-post them here for you.I haven't looked at my email in a few days, so it may take a few minutes, but I will suffer through it.
Yikes. I forgot about the I.C.U.. That could be rather intensive. It's a great place to learn. I would be scared. The responsibility is great and the people are in really bad shape, but with some good Doctors you will learn tons. There are a lot of great nurses in there also to learn from. They are kind of like the "First Sergeants" of the Medical Profession.In the Medical ICU. And feeling like I have NO IDEA what I'm doing.
Glad I got other knowledgeable doctors here to teach me what to do.
I am still downloading email. Everybody and their brother is sending me long files...geez.. I am working on it Ray!
HUNTINGTON BEACH, Calif., Jul 08, 2009 (BUSINESS WIRE) -- Bio-Clean
International, Inc. (Pink Sheets: BCLE) (www.bio-cleanintl.com) announced today
that the Company's affiliated entity American Bio-Clean Corporation
(www.americanbioclean.com), a Service-Disabled Veteran-Owned Small Business
(SDVOSB), has received a Priority-2 order for five additional weapons cleaning
machines from Defense Supply Center, Columbus, Ohio, in a contract award valued
in excess of $87,000.
About Bio-Clean International, Inc.
Bio-Clean International, Inc. recognizes the problems facing our environment.
Our exclusive, non-toxic, bio-remediation fluids provide an environmentally safe
solution. Our exclusive products and machines have been tested and shown to be
in complete compliance with environment regulations, in other words,
"Cleantech."
Our majority-owned subsidiary, American Bio-Tech Cleaning, Inc. (ABT), designs
and manufactures customized parts and weapons washing/cleaning systems that are
eco-friendly, using a water-based cleaning fluid integrated with a
self-contained bio-remediation process. We also own a minority interest in
American Bio-Clean Corporation (ABC), which markets and distributes our cleaning
fluids and parts/weapons cleaning machines. ABC is a Service-Disabled
Veteran-Owned Business (SDVOB) that is certified and meets the federal-mandated
3% minority spending requirements. Similar mandated spending requirements
adopted by most states vary from 3% to 20%. Additionally, many private sector
companies have targeted goals for suppliers.
We also maintain a minority interest in Veterans Training Corporation (VTC),
which is also a SDVOB business based in Southern California and provides a wide
range of training programs for a variety of clients including the U.S.
Department of Defense. In addition, VTC provides training programs for the
private sector such as its OSHA safety-training programs for the construction
industry.
For more information about Bio-Clean International, Inc. please visit our
website, http://www.bio-cleanintl.com.
A number of statements referenced in this Release, and any other interviews that
have been made, are forward-looking statements, which are made pursuant to the
Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995,
and within the meaning of Section 27A of the Securities Act of 1933 and Section
21B of the Exchange Act of 1934. Any statements that express or involve
discussions with respect to predictions, expectations, beliefs, plans,
projections, objectives, and goals, assumption of future events or performance
are not statements of historical fact and may be "forward-looking statements."
SOURCE: Bio-Clean International, Inc.
CONTACT:
Bio-Clean International, Inc.
Tammy D. Dunn, COO, 714-373-1990
Fax: 714-373-1991
ir@bio-cleanintl.com
James E. Shipley
James E. Shipley, President
Bio-Clean International, Inc.
5412 Bolsa Ave.
Suite D
Huntington Beach, CA 92649
Telephone (714) 373-1990
Fax (714) 373-1991
e-mail - jim@bio-cleanintl.com
From: Jeshipley
To: ir@Bio-cleanintl.com
CC: ir@bio-cleanintl.com
Sent: 5/28/2009 1:53:55 P.M. Pacific Daylight Time
Subj: Re: FW: BCLE
Mr. HartXXX:
My name is James Shipley, and I am the President of Bio-Clean International, and your inquiry was passed to me.
First, thank you for investing in our company, it is greatly appreciated. Second, as for the answers to your questions, I can only tell you that we are in the process of bringing everything current with Pink Sheets, and all the information you requested will be available soon. I cannot give you a date certain, as it would only be a guess. As always, we are waiting on accountants, and lawyers. However, there are a couple of your questions that I can answer.
1) The approximate float is 30 million shares.
2) The approximate amount of stock issued and outstanding is 75,000,000 shares.
3) The projections for revenues fiscal year 2009 is approximately $30 million. I realize this is very high, but we have bid government jobs for three times that amount, and we believe that when one or several of these contracts are let, we will be in the running. Also, in order to justify this figure, one should definitely research the Service Disabled Veteran Owned Small Business (SDVOSB) certifications, qualifications, and government laws, which can be found on our website, www.americanbioclean.com
5) Cannot release present company information that has not been made public, and I am sure you must understand that.
6) We expect monetary results with the Pipe Company in the very near future, and we will announce the jobs as they are bid, and finalized. We do not have a monetary interest in the company.
We will add your name to our e-mail list, and please accept our gratitude and appreciation once again.
Regards,
James E. Shipley
James E. Shipley, President
Bio-Clean International, Inc.
5412 Bolsa Ave.
Suite D
Huntington Beach, CA 92649
Telephone (714) 373-1990
Fax (714) 373-1991
e-mail - jim@bio-cleanintl.com
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