FreeSeas Inc fka FREEF

[Sonar]

DryShips + FreeSeas = Perfect Match.

IMO; FREEF definitely fits the description of "assets at distressed levels."

DRYS
“We are delighted to announce a series of positive developments for the Company. We appreciate the support shown by our Founder to restore our balance sheet. Following the closing of our successful equity offering and putting the New Revolver in place, we will have total available liquidity of between $119.0 million and 129.0 million that will not only give us comfort to fund operations but also gives us the opportunity to evaluate the possible acquisition of assets at distressed values. We believe that given where we are in the cycle in both the tanker and drybulk markets, we are faced with a unique entry point to acquire vessels in these sectors at historic low prices. Together with the support of our manager TMS and the revised agreements that provide for full scalability, we will make DryShips great again.”