we has engaged financial and legal ad visors to help it restructure its obligations in order to permit it to survive this period of difficulty and to return to profitability. To achieve this objective, we are asking its financial creditors to grant it significant relief, including the conversion of substantial portions of their clams into equity, and will require from its shipowners a commensurate effort during this difficult period. The existing shareholders will, of necessity, be substantially diluted and, following the restructuring, the majority if the company's equity is expected to be held by the company's creditors.