It is just amazing how freakin stupid some people on this board are. One poster says that OCNF is going back to $5, others are waiting for it to jump to $2. For anyone who cares here is an easy assesment of OCNF value,

Stock price before financial crises, $20
Recent dilution of shares, 16M to 120M ~ 7x
Expected stock price after dilution, 20/7 = ~$3
But wait they had a $0.77 dividend that was proping the price up to $20 so the estimated worth of OCNF without the dividend, ~$1.50. But it gets even worse as vessel values have declined ~60%-70% since the stock was $20. As a result OCNF became in breach of their loan covenants and now they have to pay more for their debt. In addtion they have had several breach of charter contracts which were reset at much lower charter rates which mean lower earnings. To add insult to injury they are not done diluting yet. So how much is OCNF worth now, sub $1? The bottom line is that when times were good OCNF management were stuffing the earnings into thier pockets faster than it was comming in. Then when tough times came along they resort to schemes of massive diluting to extract equity from shareholders to keep the lenders happy so they are not forced to sell the vessels under loan covenants at severely depressed market prices.

The bottom line is that if you are long because you actually believe the BS that this is a good company to own then you are freakin stupid. On the other hand, if you are trading the swings then GLTA.