PBK - As with most things, there is likely a much larger story to be known about DRYS. What is currently known is based on information taken from the last financial report that reported what was expected based on the state of the drybulk industry. At the time DRYS had a significant debt load and insufficient revenue. Since then, however, a few things have changed. In addition to the $5 million received for the warrants, there was the sale of the ORIG shares for $50 mil. DRYS stated part of the funds would be used to pay down loans. It was also stated they had received favorable changes to their revolver. So what do their books look like today is a bit of a question mark, but perhaps things aren't quite as bad as they appear.
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