NEW Reddit Mentions | ChartExchange

**Everything purchased and paid for today will be shipped out on MONDAY**
**Please be warned that I will never send you unsolicited messages offering to sell something that is not part of this sale.**
**I use 2FA and will not share my password, don't waste your time**
Please send me Chat, would prefer not to use DMs any longer
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[**PROOF FOR EVERYTHING**](https://imgur.com/a/Tj2UiBO)
Everything is priced with AU spot @$4078 and AG spot @$58.55 and Pt @$1628 (Kitco quotes)
I use custom poured silver bar made by u/420pepe in my verification photos, I think you should too! :)
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**PLATINUM AND GEIGER SILVER!**
2003 1/10 Platinum American Eagle - $220 | [**ALBUM**](https://imgur.com/a/lAc6cEJ)
2005 1/10 Platinum American Eagle - $220 | [**ALBUM**](https://imgur.com/a/ETlQbTK)
Geiger 1oz .999 Silver Bar in Essay Square design - $115 | [**ALBUM**](https://imgur.com/a/2IEwTfJ)
Geiger Edelmetalle Security Line 10 oz Bar .999 Fine - $725 | [**ALBUM**](https://imgur.com/a/pCHRjDM)
Geiger Edelmetalle Security Line 500 Grams Bar .999 Fine - $1300 | [**ALBUM**](https://imgur.com/a/iLdXgxO)
PAMP Suisse Lady Fortuna 1oz Silver Bars - $105 each, 2 available | [**ALBUM**](https://imgur.com/a/ffQXBGi)
PAMP Suisse Lady Fortuna 20 Grams Silver Bars - $80 each, 4 available | [**ALBUM**](https://imgur.com/a/y3mPVF6)
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**NEW STUFF!!**
2014 Chinese Panda Gold 100 Yuan (1/4oz) MS70 - $1250. Small scratch on reverse is on the holder, not the coin | [**ALBUM**](https://imgur.com/a/q8noUu7)
1867 Brazil 10000 Reis AU50 - $1600. Can't find any info on the mintages but not a common type, not a lot of comps. Great circ look. | [**ALBUM**](https://imgur.com/a/nVZY08c)
1896 French Indo China Piatsre Chopmarked - $140. Lots of cool chops | [**ALBUM**](https://imgur.com/a/faa8uP1)
Russian Empire 1837 1 Ruble Nicholas I - $240 | [**ALBUM**](https://imgur.com/a/X4EP1Sf)
1876-S Trade Dollar - $275. Nice even wear | [**ALBUM**](https://imgur.com/a/rz8Sw7D)
1904 MO H-61-330 1/2 Louisiana Purchase Expo NGC MS63 DPL - $500. Very cool token, priced below comps, check out the video | [**ALBUM**](https://imgur.com/a/3aG8jR0)
**2006 American Silver Eagle 20th Anniversary 3-Coin Set** - $275. Proof, Burnished and Business strike, comes in OGP & with COA, beautiful set | [**ALBUM**](https://imgur.com/a/FpzNMcb)
George T. Morgan $100 Union Proposed Design 1876 Private Issue 1.5oz Silver Gem Proof - $125 | [**ALBUM**](https://imgur.com/a/3orJpyp)
1914-D Germany 1 Mark MS67 - $175. Nice toning, old NGC fatty holder | [**ALBUM**](https://imgur.com/a/iKViAGd)
1947 Swiss 1 Mark MS66 - $175. Great luster, old NGC fatty holder | [**ALBUM**](https://imgur.com/a/9XHanRU)
Austrian Empire 1 Florint coins lot from 1800's - $240 for all 6. 1859, 1860, 1861, 1873, 1883 and 1884 | [**ALBUM**](https://imgur.com/a/W0STTkM)
**1934 and 1935 Germany 5 Marks Potsdam Church** - $35 each, 4 available | [**ALBUM**](https://imgur.com/a/bYR2Wzr)
1935 and 1936 Germany 5 Marks - $75 for the pair | [**ALBUM**](https://imgur.com/a/xILpTVj)
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**20 CENTS AND SEATED QUARTERS**
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1875-S 20 Cents - $100 | [**ALBUM**](https://imgur.com/a/VhCmYEJ)
1853-O Seated Liberty Quarter - $60 | [**ALBUM**](https://imgur.com/a/wlJd1Su)
1855 Seated Liberty Quarter - $25. Great detail but small hole above the head | [**ALBUM**](https://imgur.com/a/p8DnOIF)
1856 Seated Liberty Quarter - $45 | [**ALBUM**](https://imgur.com/a/vdt5Brw)
1857 Seated Liberty Quarter - $60 | [**ALBUM**](https://imgur.com/a/GfWYmmk)
1858 Seated Liberty Quarter - $30 | [**ALBUM**](https://imgur.com/a/BgJAMPt)
1860 Seated Liberty Quarter - $80 | [**ALBUM**](https://imgur.com/a/p8kGm7O)
1875 Seated Liberty Quarter - $25 | [**ALBUM**](https://imgur.com/a/YSKWt5m)
1876 Seated Liberty Quarter - $25 | [**ALBUM**](https://imgur.com/a/vpR9U0f)
1876-S Seated Liberty Quarter - $25 | [**ALBUM**](https://imgur.com/a/BJ4PHVv)
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**Foreign Lot various countries** - $180 - 12 coins, different countries/years. From UK 1865 Shilling to Venezuela and Switzerland, New Zealand and Turkey. From Jamaica to 1929 Czechoslovakia 5 Korun, all cool stuff. Total weight is 2.2836 ASW | [**ALBUM**](https://imgur.com/a/oD4gheK)
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**Iran 1971 5 Coin Set** - $1150. Hard to find set, iconic design issued to commemorate the 2,500th anniversary of the Persian Empire | [**ALBUM**](https://imgur.com/a/9Zo4F7d)
1921 Missouri 2x4 Commemorative 50c MS62 - $950. Rare type, gorgeous blast white example. Looks MUCH better than you'd expect a 62 to look | [**ALBUM**](https://imgur.com/a/cIYRpjl)
1830 Capped Bust Half Dollar AU53 Small 0 - $450. Very attractive white coin | [**ALBUM**](https://imgur.com/a/CcFJJvq)
1835 Capped Bust Half Dollar AU55 O-107 - $625. Loads of luster, very attractive white coin | [**ALBUM**](https://imgur.com/a/Ib1vDSp)
1837 Capped Bust Half Dollar XF45 Reeded Edge - $450. Beautiful XF example | [**ALBUM**](https://imgur.com/a/u0BlbpH)
1879-CC $1 Morgan VF25 - $750. Great example of key date from CC Mint for your collection | [**ALBUM**](https://imgur.com/a/o0paiIN)
1935 Boone Commemorative 50c MS64 - $215. Good looking coin in OGH | [**ALBUM**](https://imgur.com/a/hvLR2Ir)
1890 $1 Morgan MS63 - $90. Nice coin, priced below GS | [**ALBUM**](https://imgur.com/a/b1u8K47)
1885-O $1 Morgan MS63 - $75. Nice coin, priced below GS | [**ALBUM**](https://imgur.com/a/yhLTb0N)
2021 Cook Islands 1 Ounce Silver $5 U.S. State Animal Utah Mountain Elk MS70 - $110. Cool looking coin, flawless example | [**ALBUM**](https://imgur.com/a/sZ0gvf6)
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**Graded Pre-33 Gold and US Type Coins!**
**1857-C $5 Liberty VF Detail** - $2750. Affordable example of Charlotte Mint gold | [**ALBUM**](https://imgur.com/a/68ZCV5T)
1875-CC $20 Liberty XF45 - ~~$6300~~ $6250. Great XF example | [**ALBUM**](https://imgur.com/a/y49sW0S)
1851 $10 Liberty No Motto XF40 - $2600. Very attractive pre-Civil War example in old NGC Fatty | [**ALBUM**](https://imgur.com/a/h0yW6eu)
1910 $2.5 Indian MS62 - $825. Better date, attractive coin | [**ALBUM**](https://imgur.com/a/VwmclBI)
1857 Indian Princess G$1 AU55 - $550. Great eye appeal, problem free coin | [**ALBUM**](https://imgur.com/a/4bTCGkV)
1818 Capped Bust Quarter F12 CAC - $500. Very attractive example, harder coin to find with CAC approval | [**ALBUM**](https://imgur.com/a/ysAQ9yX)
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**BUT WAIT THERE'S MORE!**
1925 UK Sovereign MS62 - $1150. Old Anacs soapbox | [**ALBUM**](https://imgur.com/a/H5c9Ym1)
1866-A France 10 Francs PCGS MS63 - $800. Spectacular example with PL fields. TrueViews came out horribly and do not represent the look of the coin in hand accurately at all | [**ALBUM**](https://imgur.com/a/F3fSLd2)
1882-S Finland 10 Markkaa PCGS MS65 - $1295. Rare coin, lustrous example. Same issue with TrueViews, looks bad in PCGS images, very different from what it looks like in hand. | [**ALBUM**](https://imgur.com/a/AXQ7BSu)
1888 $1 Morgan MS64 Vam-12A DDR Hot 50 - $325. Not a cheap coin just as this VAM alone with beautiful colors to boot! | [**ALBUM**](https://imgur.com/a/1yGMXO4)
1882-S $1 Morgan MS65 - $200. Very attractive coin with some toning, old NGC Fatty. | [**ALBUM**](https://imgur.com/a/v3fhXWw)
1883-O $1 Morgan MS63 - $125. Pretty and affordable reverse crescent toner | [**ALBUM**](https://imgur.com/a/NzaLPzY)
1806-Mo Mexico 8 Reales AU50 - $375. Very nice coin with even wear. Cool crack on the planchette, still has some luster in the fields | [**ALBUM**](https://imgur.com/a/EzEL7ZK)
1809 8 Reales - $225. Sharp strike, some luster, a little cleaning. Nice coin overall | [**ALBUM**](https://imgur.com/a/Hil3iRA)
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**RAW COINS!!**
1859-O Seated Liberty Half Dollar - $100. Nice album coin | [**ALBUM**](https://imgur.com/a/sNfPf2n)
1878-CC Seated Liberty 25c - $175. High grade coin but has issues as you can see. Priced accordingly | [**ALBUM**](https://imgur.com/a/ijKzLx3)
1892-O Barber Half Dollar - $500. Key date, very attractive rim toning. I don't think it would grade straight, old cleaning, but you are welcome to try your luck at TPGs :) | [**ALBUM**](https://imgur.com/a/Y8YKLJF)
1890-CC $1 Morgan - ~~$325~~ $300. Nice reverse colors, I would grade it AU Details | [**ALBUM**](https://imgur.com/a/1890-cc-1-morgan-vNea1Ks)
1964 USA Mint Set - $75. Nicely toned Kennedy, Washington and Roosevelt, check out pics/video | [**ALBUM**](https://imgur.com/a/My9dosp)
1960 Mexico 10 Pesos 150th Anniversary War of Independence - $80. Really good condition, popular design | [**ALBUM**](https://imgur.com/a/CaIfzH5)
1927-D $1 Peace - $110 | [**ALBUM**](https://imgur.com/a/u2MNKLU)
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**Shipping at cost** - First Class (aka Ground Advantage) starts at $5, Priority at $10.50. If you would like insurance (Cost is $1 per $100 of value of the package) or signature (+$3.50) this will be extra. Please let me know if you want any of these extra services. I pack safely and discretely, and ship fast. All paid for purchases will be on their way **NEXT BUSINESS DAY**
Payments are accepted via **PPFF** (Sorry, I do not accept G&S payments anymore) or **Zelle**. If you are a trusted buyer/seller I can accept Venmo (sorry, no Venmo for newer users). USPS money order is cool too. I can no longer accept CashApp

I recently posted that I was confused about why $HMR keeps drifting despite the earnings beat, the first profit, and the Q-Shipping acquisition & others speeding up growth. The comments came back with some sharp, fair questions: the lease/debt accounting, where the cash actually came from, the real margin picture, and the CFO change.
The CEO just did a long-form interview that goes straight at all of it. I've timestamped every question below so you can jump to whatever you care about instead of taking my word for anything (under the bio and updated checklist)
**QUICK BIO FOR NEW READERS**
Heidmar (NASDAQ: HMR) is an asset-light maritime platform with a \~40-year track record, running commercial and technical management for tanker and other vessels. Clients include Shell, BP, Chevron, Vitol, Aramco, Trafigura and Glencore, across six global hubs (Athens, London, Dubai, Singapore, Hong Kong, Chennai). It earns commissions and management fees on the commercial side plus voyage and time charter hire. CEO Pankaj Khanna is a long-time shipping industry veteran, owns roughly 45% of the company, and has been buying in the open market with zero sales. They earn about 10-15% more due to hormuz / disruption as they service the vessels only. In down markets rates are less but they get more vessels / do more volume
**THE UPDATED CHECKLIST**
\* ✅ Market cap still below annual revenue run-rate
\* ✅ Single-digit forward PE on the current run-rate vs peers at 15-45x
\* ✅ 217% YoY Q1 revenue growth - audited, real
\* ✅ Net income +$2.8M - first clean GAAP profit in listed history, single quarter (not cumulative)
\* ✅ EPS beat by 450% - on a single quarter
\* ✅ 55%+ gross margins on the high-margin commission/fee book (blended is lower given the larger charter book)
\* ✅ Zero interest-bearing debt - lease obligations are charter-in commitments serviced by charter revenue, not bank debt (explained at 00:00)
\* ✅ $27.6M cash and growing, no bank debt - net cash by the standard definition, EV around $35M
\* ✅ CEO buying above market, zero sales, 45% personal ownership
\* ✅ Float under 6M shares, near un-borrowable, \~0.3% short interest
\* ✅ \~90% held by insiders/strategic holders
\* ✅ 40-year track record, Shell/BP/Aramco clients, six global hubs
\* ✅ Asset-light model - the "Uber of tanker shipping" (earns fees on managed voyages; charter book carries genuine rate risk)
\* ✅ Geopolitical volatility increases revenue
\* ✅ No meaningful dilution since listing - equity line barely used (\~0.4%), dilution protection covered at 21:05
\* ✅ Concentration flag: closed - \~40 vessels managed, plus the Q-Shipping 9 and further newbuilds in client pipelines
\* ✅ Q-Shipping acquisition completed - 9 vessels, \~€200k, adds technical management and crewing in European hubs
\* ✅ CFO transition addressed head-on at 29:08
\* ✅ NASDAQ compliance restored - $1 level now acting as support
\* ✅ 200-day MA now acting as support after the post-earnings pullback
\* ✅ Acquisitions likely as cash pile grows - not priced in
\* ✅ Active YouTube channel - CEO speaking directly to investors
THE QUESTIONS, AND WHERE THEY'RE ANSWERED (jump to whatever you care about instead of taking my word for anything)
\[00:00\] Debt-Free Balance Sheet & Lease Obligations: "Could you clarify the accounting treatment of lease obligations on the balance sheet and demonstrate how Heidmar maintains a genuinely debt-free position with zero net cash outlay on chartered vessels?"
\[03:11\] Core Earnings & Cash Flow Growth: "With earnings surging, is your rapidly expanding cash reserve driven primarily by core operational profitability, and how do you plan to deploy this capital prudently?"
\[06:33\] M&A Discipline & Strategic Criteria: "You've demonstrated exceptional discipline by walking away from deals that don't meet your strict standards. What specific criteria do you look for when evaluating high-value service acquisitions?"
\[09:18\] Strategic Focus vs. Opportunistic Deals: "Do prospective acquisitions need to align directly with your core management platform, or would you consider standalone profitable deals that fit within your strict playbook?"
\[10:35\] Capital Allocation & Shareholder Value: "Given the significant discount in the current valuation, how do you balance reinvesting for growth and future potential dividends against stock buybacks to maximize long-term shareholder value?"
\[11:44\] Strategic Value of the Q Shipping Acquisition: "You completed the Q Shipping acquisition for an extraordinarily attractive €200k. How does this asset-light transaction unlock expansion across both technical management and crewing in key European hubs?"
\[14:55\] Synergies Between Commercial & Technical Management: "How do high-volume, lower-margin technical management services complement higher-margin commercial management services to rapidly scale the overall Heidmar platform?"
\[15:47\] Client Concentration & Built-In Fleet Growth: "How is Heidmar actively mitigating client concentration risk while capitalizing on the substantial newbuild delivery pipelines of your major existing client partners?"
\[17:43\] Industry-Leading Margins & AI Efficiency: "With net margins around \~50%, how does Heidmar leverage scalable overhead and AI technology to maintain exceptionally high profitability as fleet size expands?"
\[18:48\] Sustained Quarterly Earnings Momentum: "With tanker market fundamentals remaining robust and your managed vessel count expanding continuously, what underpins your confidence in strong quarter-over-quarter earnings growth?"
\[21:05\] Prudent Use of Capital Markets (Standby Equity Line): "Heidmar maintains an Equity Line of Credit (ELOG) with virtually zero past utilization (\~0.4%). Under what specific conditions would you consider using this tool, and how does it protect existing shareholders from unnecessary dilution?"
\[22:25\] Alignment of Interests & Insider Ownership: "With insiders owning approximately 90% of the company and zero shares sold, how does this heavy skin-in-the-game ensure complete alignment with public investors?"
\[24:10\] Fully Diluted Share Count & Performance Incentives: "Could you clarify the fully diluted share count and explain how the equity incentive plan is structured to align team incentives with long-term performance?"
\[24:45\] Institutional Investor Opportunity & Minority Protections: "With a compelling valuation, independent board members, and Deloitte as long-standing auditors, why is now an ideal timing entry point for institutional and strategic investors?"
\[26:20\] Governance Excellence & Independent Board Oversight: "How does the deep maritime, banking, and commercial expertise of your independent board members strengthen Heidmar's corporate governance?"
\[27:52\] Competitive Moat in Commercial & Technical Management: "As traditional competitors shrink or lose focus, why are vessel owners increasingly choosing Heidmar's dedicated, owner-centric service platform?"
\[29:08\] Financial Management & Leadership Transition: "Following an orderly, post-earnings CFO transition, what steps are underway to further strengthen Heidmar's finance team moving forward?"
\[30:35\] Regaining NASDAQ Compliance & Value Re-Rating: "With full NASDAQ compliance restored and record operational profits being delivered, how is Heidmar positioned to close the gap between its current share price and intrinsic value?"
\[32:07\] Key Delivery Milestones for Investor Trust: "What is the single most compelling proof point that will demonstrate Heidmar's operational execution and drive a market re-rating?"
\[32:49\] Multi-Year Growth Scorecard & Performance Metrics: "Looking a year out, what key performance indicators-such as fleet expansion, vessel count, and net profitability-should investors track to monitor Heidmar's growth trajectory?"
Watch the segments that matter to you and tell me if any of the answers change your read. The lease/debt one at the start is the piece I'd point the skeptics to first.
Full interview: [https://youtu.be/Fh4IpTkioGc?si=ywE0FGcSFZBWo0PB](https://youtu.be/Fh4IpTkioGc?si=ywE0FGcSFZBWo0PB)
Not financial advice. Do your own DD. Disclosure: I hold $HMR from 95c and have not sold.

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