Paragon Shipping Inc (PRGNF)

[doglover1]

Your research is correct, and you are right. After the sale of the 6 ships they will have no physical ships left, only those new ones on order, and they are pushing the acceptance dates of those orders further and further out. Shortly after I made that post I discovered this, also. Don't really see how they can purchase new ships when they have no cash and no means of raising cash. It's my understanding all the proceeds from the ship sales will go to existing loans and liens on those vessels, with a balance probably still remaining.

Like you said, not much to invest in as far as PRGN is concerned. I've scratched that one. Looking at ULTR instead, although it's up about 140% this year so I'll wait for a pullback...

Did buy some GNK and EGLE, with GNK my favorite of the two, although neither one could in any way be called 'investment grade.'