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    Michael Moncroft

    Research Analyst at MRM Capital

    Michael Moncroft is a Research Analyst at MRM Capital, specializing in equity research with a focus on transportation and shipping sectors. He has specifically covered Nordic American Tankers, participating in at least one earnings call and engaging directly with company management. Moncroft's analytical work at MRM Capital showcases his experience in evaluating operational and financial metrics, although detailed historical performance metrics and overall returns are not publicly available. Information about his career timeline, previous professional experience, and formal securities credentials or FINRA registration is not available in accessible public records.

    Michael Moncroft's questions to NORDIC AMERICAN TANKERS (NAT) leadership

    Michael Moncroft's questions to NORDIC AMERICAN TANKERS (NAT) leadership • Q4 2016

    Question

    Michael Moncroft of MRM Capital asked for specifics on the amount borrowed under the credit facility, the cost of the three newbuilds, and the use of proceeds from a recent equity offering. He also questioned why insiders had not purchased more stock at its current lower price.

    Answer

    Chairman & CEO Herbjørn Hansson clarified that while the gross borrowing was $447 million, the company's net debt was very low. He confirmed the newbuilds cost in the mid-$50 million range per ship and were funded by the recent equity offering. Regarding insider purchases, Hansson explained they were in a blackout period and that his personal financial resources, while significant, are finite.

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