Thank you for standing by, ladies and gentlemen. And welcome to the Euroseas’ Conference Call on the Fourth Quarter 2015 Financial Results. We have with us Mr. Aristides Pittas, Chairman and Chief Executive Officer; and Mr. Tasos Aslidis, Chief Financial Officer of the company. At this time, all participants are in a listen-only mode. There will be a presentation followed by a question-and-answer session. (Operator Instructions) I must advise you that the conference is being recorded today, Thursday, February 18, 2016. Please be reminded that the company announced their results with a press release that has been publicly distributed. Before passing the floor to Mr. Pittas, I'd like to remind everyone that in today’s presentation and conference call Euroseas will be making forward-looking statements. These statements are within the meaning of federal securities laws. Matters discussed might be forward-looking statement, which are based on current management expectations that involve risks and uncertainties that may result in such expectations not being realized. I kindly draw your attention to slide number 2 of the webcast presentation which has the full forward-looking statement and the same statement was also included in the press release. Please take a moment to go through the whole statement and read it. I'd now like to pass the floor to Mr. Pittas. Please go ahead sir.

Thank you. Good morning and thank you all for joining us today for our conference call. Together with me is Tasos Aslidis, our CFO. The purpose of today's call is to discuss our financial results for the three ended December 31, 2015 and the full-year. Let's turn to slide three of our presentation for our financial results overview. Let's start with the fourth quarter results. For the fourth quarter of 2015, we reported total net revenues of $8.8 million. Net loss for the period was $3.6 million while net loss attributable to common shareholders was $4 million. The difference being the $0.4 million in dividends paid through our Series B Preferred shareholders. Adjusted net loss attributable to common shareholders for the period was $3 million or $0.36 loss per share basic and diluted. Adjusted EBITDA for the fourth quarter of 2015 was $0.1 million. Looking at the full-year of 2015, we reported total net revenues of $37.7 million. Net loss for the period was $13.7 million, while net loss attributable to common shareholders was $15.3 million. Again, the difference is being $1.6 million, which was dividends paid to our Series B preferred shareholders. Adjusted net loss attributable to common shareholders for the period was $13.9 million or $2.17 loss per share basic and diluted. Adjusted EBITDA for 2015 was $0.2 million. Our CFO, Tasos Aslidis will go over our financials in more detail later on during the presentation. Please turn to slide four to discuss operational highlights. Rates in the containership sector and particularly in the feeder size where we operate declined back to their levels of the beginning of last year from the much higher levels observed during the second and third quarters. Overall the idle fleet is at higher levels compared to a year ago but it is…

Thank you very much Aristides. Good morning from me as well ladies and gentlemen. As usual I will now provide you with a brief overview of our financial results for the three months period and full year ended December 31, 2015. For that, let’s turn first to slide 21 and take a look at our results for the fourth quarter of 2015 in comparison to the same period of last year. I will repeat here some of the same figures that Aristides gave you in the beginning of the presentation. The fourth quarter of 2015, reflects the extremely low level of the drybulk market rates and the low level of the containership rates as well as the lower number of vessels who operated during the quarter, due to the sale of some of our ships. For the fourth quarter of 2015, we reported total net revenues of $8.8 million representing a 23.7% decrease over total net revenues of $11.5 million during the fourth quarter of last year. We reported net loss for the period of $3.6 million and a net loss attributable to common shareholders of $4 million as compared to net loss of $7 million for the fourth quarter of 2014. As Aristides mentioned earlier, the difference between net loss and net loss attributable to common shareholders is $0.4 million in accounts for the dividends we paid to our Series B preferred shares in the fourth quarter of 2015. This preferred divided can be paid out at our option either in cash or in kind and we have elected to pay it in kind for the last 10 quarters. Basic and diluted loss per share attributable to common shareholders for the fourth quarter of 2015 was $0.60 compared to basic and diluted loss per share of $1.28 for the…

Thank you, Tasos. Thanks everybody for listening into this presentation. Do we have any questions?

Okay. Then well we thank everybody for listening in and we'll be back to you in a quarter's time for the Q1 of 2016 results. Thank you everybody.

Thank you everybody.