I think that secondary public offerings are worth more to the investor then initial public offerings. Genco and the whole bulk vessel industry is stuck behind the eight ball. Things look bleak and almost lost. Banks won't buy their bonds or give them credit. The only recourse is a public offering. This will dilute the shares but provides an excellent opportunity for a second chance. I would jump at a chance to get in on a company that has a track record and just needs a little time to get past this truly bad storm. The rewards outpace the risk. Just because a Bank won't lend does not mean we can't join the party.