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Subject:  DRYS Q2 Date:  8/31/2011  3:51 PM
Author:  Hohum777 Number:  2327 of 3758

I no longer have a position, so I don't have too much interest in DRYS anymore.

The main events
- Revenue from the UDW drilling subsidiary increased.
- Revenue from dry bulk side declined.
- Company took major hit on selling five dry bulk vessel.
- Acquired OCNF - six vessels + 5 newbuilds
- UDW drilling rig #3 of 4 delivered in July. Financing for #3 and #4 have been arranged.
- Plans to list UDW drilling subsidiary, Ocean Rig UDW, on US exchange
- Having issues with dry bulk charter payments from Cosco

DRYS plans on distributing 2% of the Ocean Rig UDW subsidiary to shareholders. Before the
announcement, the distribution of the Ocean Rig UDW was the upside to this stock.
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