We read proxies. And 10-K’s.

We generally are not a fan of floating assets. We are generally not a fan of voting controlled public companies. Together, we have Top Ships (TOPS) and this little doozy from their 20-F filing with the SEC.

“We are in advanced discussions to acquire an interest in a company that owns a 47-meter megayacht from an affiliate of our Chief Executive Officer. We anticipate that we will fund the acquisition, if completed, with cash on hand. We believe market conditions are favorable for investments in this sector and are evaluating additional similar investment opportunities. However, there can be no assurance that we will complete this acquisition or successfully identify any similar opportunities in the future. Any megayacht we acquire is expected to be employed on short-term charters. We expect that management services, including commercial and technical management, for any yacht we acquire will be provided by CSI.”

Read the SEC Form 20-F.

Nothing further, your honor.