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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: E_K_S who wrote (21842)	3/23/2006 2:31:07 PM
From: E_K_S	Read Replies (2) \| Respond to of 78670

Added a few more shares to my DRYS position. DRYS obtained a new credit facility which now provides them to spread out their debt out to ten years. The principal & interest is covered easily by their cash flow especially with current shipping rates near two year lows. DryShips Inc. Reports Details of New Credit Facility Wednesday March 22, 9:42 am ET (http://biz.yahoo.com/iw/060322/0114206.html) They also have access to a 2nd credit facility up to $150 million that can be used to acquire more ships. Terms and amounts are based on the ship's age and size. Stock was trading at an IPO low and is now up 9% since this announcement. Insiders continue to own a substantial equity position in the company. EKS FWIW - This is my third purchase in six months and have averaged down each time. Hopefully my next purchase will be at higher prices.