PRGN is a POS in every sense of the phrase. They don't even have enough assets to liquidate in order to make INTEREST payments on outstanding debt. Just take a look at the horrid financials here.
I wouldn't touch this stock with a 10 foot pole. Default is inevitable here. The fact that people are buying this at the current PPS is ridiculous. These guys don't even have a running vessel LOL. They had to liquidate in order to pay off debts. And they just delayed the supposed delivery of 3 new vessels. How can they afford new vessels if they lack the ability to make interest payments, let alone principle.
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