Global Boatworks Holdings Inc (OTCMKTS:GBBT) is a microcap in the luxury boating space that has clearly begun to spur some interest among players in the marketplace as shares bounce up off recent lows. GBBT just announced that it has successfully moved Luxuria from the Lauderdale Marine Center to the prestigious Bahia Mar Resort and Yachting Center in Ft. Lauderdale, FL.
According to the release, Global Boatworks is excited and pleased at the turnout at its initial open house and the booking of its first guests onboard Luxuria. “We are expecting additional short-term charters and are scheduling more open houses as well as attendance at boat and yacht shows in the south Florida area through the end of the year. Luxuria can be chartered in the short term and will be available for sale. At the previous location at Lauderdale Marine Center, access to the vessel was restricted and available only through Global Boatworks personnel as an escort while at the facility.”
Global Boatworks Holdings Inc (OTCMKTS:GBBT) bills itself as a company that builds, sells, and rents Luxury Floating Vessels. Their vessels are literally luxury homes that float. They have stainless steel appliances, granite counter tops, fireplaces, roman tubs, floor to ceiling windows, electric blinds, heated towel racks, etc. The Luxuria Floating vessel is a true luxury home that just happens to float.
Global Boatworks Holdings, LLC is a multifaceted boat-building and vacation-charter company that operates out of Pompano Beach, Florida. The Company has previously built a highly successful charter houseboat in Boston, and currently has designed a state-of-the-art luxury floating home that will launch in the South Florida market. Global Boatworks also constructs custom vessels for its customers.
According to company materials, “The “Luxuria” features floor-to-ceiling impact windows with motorized shades, large living room with contemporary LED fireplace, a chef-quality modern kitchen featuring, Caesarstone counters, Bosch appliances and a “one of a kind” modern contemporary wine refrigerator. Spacious extravagant open stairway leading to the luxurious master suite and guest bedroom, featuring spa-like bathrooms with soaking tub and TV and ultramodern showers with waterfall and rain head/body spray dispensers. There are three (3) big-screen TVs, computer/working area, two large outdoor living decks as well as many other numerous luxury amenities.”
Find out when $GBBT stock reaches critical levels. Subscribe to OracleDispatch.com Right Now by entering your Email in the box below.
Bob Rowe, CEO of Global Boatworks stated, “Everything onboard Luxuria is now complete. We just hosted our first guests. While the income from charters can be substantial annually and can fluctuate seasonally, we are really looking to sell the Luxuria because we have several other business opportunities we can take advantage of. We have funding in place for a second vessel and have done all the preliminary work to start construction but we need the additional funds to start construction on a third and fourth vessel. South Florida is going to be a great place for luxury vessels in the coming months and years.”
Traders will note 40% added to share values of the stock over the past week of action, a bounce that has taken root amid largely bearish action over the larger time frame. Market participants may want to pay attention to this stock. GBBT has a history of dramatic rallies. What’s more, the listing has seen an influx in interest of late, with the stock’s recent average trading volume running greater than 1500% beyond what we have been seeing over the larger time frame.
This is particularly important with a float in play that’s extremely small — barely over 700k shares. One is wise to respect the dynamic this may create — with such a tight trading float, this kind of ramping interest can force a supply-shock squeeze.
At this time, carrying a capital value in the market of $0.5M, GBBT has virtually no reported cash on the books, which compares with virtually no total current liabilities. The company is pre-revenue at this point. We will update the story again soon as developments transpire. For continuing coverage on shares of $GBBT stock, as well as our other breakout stock picks, sign up for our free newsletter today and get our next hot stock pick!
Disclosure: we hold no position in $GBBT, either long or short, and we have not been compensated for this article.