Diana Containerships Inc. (NASDAQ: DCIX) is an Athens, Greece based container shipping company that currently owns 4 ships: 2 Panamax and 2 Post-Panamax. Following the sale of the containership m/v Hamburg in late July, the company has an unlevered balance sheet with net cash. With the ships worth around $60 million and net cash of $5 million, at face value, DCIX could be worth over $6 per share given current shares outstanding of around 10 million.
However, this is most certainly not possible given a dilutive convertible preferred equity financing that DCIX management executed