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<SEC-DOCUMENT>0000950136-08-000718.txt : 20080214
<SEC-HEADER>0000950136-08-000718.hdr.sgml : 20080214
<ACCEPTANCE-DATETIME>20080214145226
ACCESSION NUMBER:		0000950136-08-000718
CONFORMED SUBMISSION TYPE:	SC 13G/A
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20080214
DATE AS OF CHANGE:		20080214
GROUP MEMBERS:		HARRY N. VAFIAS

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			StealthGas Inc.
		CENTRAL INDEX KEY:			0001328919
		STANDARD INDUSTRIAL CLASSIFICATION:	DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT [4412]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			1T
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13G/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-81487
		FILM NUMBER:		08613844

	BUSINESS ADDRESS:	
		STREET 1:		331 KIFISSIAS AVENUE
		STREET 2:		ERITHREA 14561
		CITY:			ATHENS
		STATE:			J3
		ZIP:			00000
		BUSINESS PHONE:		30 210 625 2849

	MAIL ADDRESS:	
		STREET 1:		331 KIFISSIAS AVENUE
		STREET 2:		ERITHREA 14561
		CITY:			ATHENS
		STATE:			J3
		ZIP:			00000

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Flawless Management Inc.
		CENTRAL INDEX KEY:			0001328920
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			1T
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13G/A

	BUSINESS ADDRESS:	
		STREET 1:		331 KIFISSIAS AVENUE
		STREET 2:		ERITHREA 14561
		CITY:			ATHENS
		STATE:			J3
		ZIP:			00000
		BUSINESS PHONE:		30 210 625 2849

	MAIL ADDRESS:	
		STREET 1:		331 KIFISSIAS AVENUE
		STREET 2:		ERITHREA 14561
		CITY:			ATHENS
		STATE:			J3
		ZIP:			00000
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13G/A
<SEQUENCE>1
<FILENAME>file1.htm
<DESCRIPTION>SC 13G/A
<TEXT>


<TITLE>
</TITLE>








<DIV STYLE=""></DIV><BR>
<DIV style="width: 100%; border-bottom: 3pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:center;'><B><font STYLE='FONT-SIZE:10PT'>UNITED STATES<br>

SECURITIES AND EXCHANGE COMMISSION
</font></B></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font style='font-size:10pt'>Washington, D.C.  20549</font></b></p>
<p style=' margin-bottom:0pt; margin-top:16pt;text-align:center;'><B><font STYLE='FONT-SIZE:10PT'>SCHEDULE 13G/A</font></B></p>
<p style=' margin-bottom:0pt; margin-top:16pt;text-align:center;'><B><font STYLE='FONT-SIZE:10PT'>UNDER THE SECURITIES EXCHANGE ACT OF 1934</font></B></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font style='font-size:10pt'>(Amendment No. 1)<sup>1</sup></font></b></p>
<p style=' margin-bottom:0pt; margin-top:16pt;text-align:center;'><font STYLE='FONT-SIZE:10PT'>StealthGas Inc.</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font style='font-size:10pt'>____________________________________________________________</font></p>
<p style=' margin-bottom:0pt; margin-top:4pt;text-align:center;'><font style='font-size:10pt'>(Name of Issuer)</font></p>
<p style=' margin-bottom:0pt; margin-top:16pt;text-align:center;'><font STYLE='FONT-SIZE:10PT'>Common Stock, par value $0.01 per share</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font style='font-size:10pt'>____________________________________________________________</font></p>
<p style=' margin-bottom:0pt; margin-top:4pt;text-align:center;'><font style='font-size:10pt'>(Title of Class of Securities)</font></p>
<p style=' margin-bottom:0pt; margin-top:16pt;text-align:center;'><font style='font-size:10pt'>Y81669 10 6</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font style='font-size:10pt'>_______________________________________</font></p>
<p style=' margin-bottom:0pt; margin-top:4pt;text-align:center;'><font style='font-size:10pt'>(CUSIP Number)</font></p>
<p style=' margin-bottom:0pt; margin-top:12pt;text-align:center;'><font style='font-size:10pt'>December 31, 2007</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font style='font-size:10pt'>_____________________________________________________________</font></p>
<p style=' margin-bottom:0pt; margin-top:4pt;text-align:center;'><font style='font-size:10pt'>(Date of Event Which Requires Filing of this Statement)</font></p>
<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:5%;text-align:left;'><font style='font-size:10pt'>Check the appropriate box to designate the rule pursuant to which this Schedule is filed:</font></p>
&nbsp;
<div align=left>
  <table border="0" cellspacing=0 cellpadding=0 width="100%" style=' border-collapse:collapse;'>
    <tr>
      <td width="5%" valign=bottom >&nbsp;</td>
      <td width="5%" valign=bottom ><p style=' margin-left:8.65pt;text-indent:-8.65pt;text-align:left;margin-top:2pt;margin-bottom:0pt;'><font face=Wingdings>o</font></p></td>
      <td valign=top ><p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;'><font style='font-size:10pt'>Rule 13d-1(b)</font></p></td>
    </tr>
    <tr>
      <td valign=bottom >&nbsp;</td>
      <td valign=bottom ><p style=' margin-left:8.65pt;text-indent:-8.65pt;text-align:left;margin-top:2pt;margin-bottom:0pt;'><font face=Wingdings>o</font></p></td>
      <td valign=top ><p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;'><font style='font-size:10pt'>Rule 13d-1(c)</font></p></td>
    </tr>
    <tr>
      <td valign=bottom >&nbsp;</td>
      <td valign=bottom ><p style=' margin-left:8.65pt;text-indent:-8.65pt;text-align:left;margin-top:2pt;margin-bottom:0pt;'><font face=Wingdings>x</font></p></td>
      <td valign=top ><p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;'><font style='font-size:10pt'>Rule 13d-1(d)</font></p></td>
    </tr>
  </table>
</div>
<b><font style='font-size:10.5pt'>______________</font></b>
<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:5%;text-align:left;'><font style='font-size:10pt'><sup>1</sup>The remainder of this cover page shall be filled out for a reporting person&#146;s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.</font></p>
<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:5%;text-align:left;'><font style='font-size:10pt'>The information required in the remainder of this cover page shall not be deemed to be &#147;filed&#148; for the purpose of Section 18 of the Securities Exchange Act of 1934 (&#147;Act&#148;) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, <i>see</i> the <i>Notes</i>).</font></p>
<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 3pt solid black; font-size: 1pt">&nbsp;</DIV>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:10pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:10pt'>&nbsp;</font></p>

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<div align=left>
<table width="100%" border="0" cellpadding=0 cellspacing=0>
 <tr>
        <td width="30%" style='border:solid black .5pt;'>
      <p style=' margin-left:.05in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;'><b><font style='font-size:10pt'>CUSIP No.</font></b><font style='font-size:10pt'><b> Y81669 10 6</b></font></p> </td>
        <td style='border-right:solid black .5pt; '>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:center;margin-bottom:0pt;'><b><font style='font-size:10pt'>13G</font></b></p> </td>
        <td width="30%" style='border:solid black .5pt;border-left: none;'>
  <p style=' margin-left:0pt;margin-right:.05in;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;'><font style='font-size:10pt'>Page 2 of 7    </font></p> </td> </tr></table>
</div>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:10pt'>&nbsp;</font></p>
<div align=left>
<table border="0" cellspacing=0 cellpadding=0 width="100%">
 <tr>
        <td width="93" valign=top style='border:solid black .5pt; '>
      <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom: 0in;'><font style='font-size:10pt'><b>1</b></font></p> </td>
        <td colspan="5" valign=top style='border:solid black .5pt; border-left:none;'>
                        <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;'><font STYLE='FONT-SIZE:10PT'>NAME OF REPORTING PERSON</font></p>
            <p style=' margin-left:.05in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;'><font STYLE='FONT-SIZE:10PT'>I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)</font></p>
            <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0in;'><font style='font-size:10pt'>Flawless Management Inc. </font></p> </td> </tr>
 <tr>
        <td valign=top style='border:solid black .5pt; border-top:none;'>
                        <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom: 0in;'><font style='font-size:10pt'><b>2</b></font></p> </td>
        <td colspan="3" valign=top style='border-top:none; border-left:none;border-bottom:solid black .5pt;border-right:solid black .5pt; '>
                        <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;'><font STYLE='FONT-SIZE:10PT'>CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*<br>
<br>
Not applicable.</font></p> </td>
        <td colspan="2" valign=top style='border-top:none; border-left:none;border-bottom:solid black .5pt;border-right:solid black .5pt; '>
                        <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;'><font style='font-size:10pt'>(a) </font><font face=Wingdings>o</font><br> <font style='font-size:10pt'>(b) </font><font face=Wingdings>o</font></p> </td> </tr>
 <tr>
        <td valign=top style='border:solid black .5pt; border-top:none;'>
                        <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom: 0in;'><font style='font-size:10pt'><b>3</b></font></p> </td>
        <td colspan="5" valign=top style='border-top:none; border-left:none;border-bottom:solid black .5pt;border-right:solid black .5pt; '>
                        <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;'><font STYLE='FONT-SIZE:10PT'>SEC USE ONLY</font></p> </td> </tr>

 <tr>
        <td valign=top style='border:solid black .5pt; border-top:none;'>
                        <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom: 0in;'><font style='font-size:10pt'><b>4</b></font></p> </td>
        <td colspan="5" valign=top style='border-top:none; border-left:none;border-bottom:solid black .5pt;border-right:solid black .5pt; '>
                        <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;'><font STYLE='FONT-SIZE:10PT'>CITIZENSHIP OR PLACE OF ORGANIZATION</font></p>
            <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0in;'><font style='font-size:10pt'>Republic of the Marshall Islands</font></p> </td> </tr>
 <tr>
        <td colspan="2" rowspan=4 valign=top style='border: solid black .5pt;border-top:none; '>
                        <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:center;margin-top:20.0pt;margin-bottom: 0in;'><font STYLE='FONT-SIZE:10PT'>NUMBER OF</font><br> <font STYLE='FONT-SIZE:10PT'>SHARES</font><br> <font STYLE='FONT-SIZE:10PT'>BENEFICIALLY</font><br> <font STYLE='FONT-SIZE:10PT'>OWNED BY</font><br> <font STYLE='FONT-SIZE:10PT'>EACH</font><br> <font STYLE='FONT-SIZE:10PT'>REPORTING</font><br> <font STYLE='FONT-SIZE:10PT'>PERSON</font><br> <font STYLE='FONT-SIZE:10PT'>WITH</font>  </p> </td>
        <td width="73" valign=top style='border-top:none;border-left: none;border-bottom:solid black .5pt;border-right:solid black .5pt; '>
      <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;'><b><font style='font-size:10pt'>5</font></b></p> </td>
        <td colspan="3" valign=top style='border-top:none; border-left:none;border-bottom:solid black .5pt;border-right:solid black .5pt; '>
                        <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;'><font STYLE='FONT-SIZE:10PT'>SOLE VOTING POWER</font></p>
            <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0in;'><font style='font-size:10pt'>6,000,000 shares</font></p> </td> </tr>
 <tr>
        <td valign=top style='border-top:none;border-left: none;border-bottom:solid black .5pt;border-right:solid black .5pt; '>
                        <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;'><b><font style='font-size:10pt'>6</font></b></p> </td>
        <td colspan="3" valign=top style='border-top:none; border-left:none;border-bottom:solid black .5pt;border-right:solid black .5pt; '>
                        <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;'><font STYLE='FONT-SIZE:10PT'>SHARED VOTING POWER</font></p>
            <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0in;'><font style='font-size:10pt'>0</font></p> </td> </tr>
 <tr>
        <td valign=top style='border-top:none;border-left: none;border-bottom:solid black .5pt;border-right:solid black .5pt; '>
                        <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;'><b><font style='font-size:10pt'>7</font></b></p> </td>
        <td colspan="3" valign=top style='border-top:none; border-left:none;border-bottom:solid black .5pt;border-right:solid black .5pt; '>
                        <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;'><font STYLE='FONT-SIZE:10PT'>SOLE DISPOSITIVE POWER</font></p>
            <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0in;'><font style='font-size:10pt'>6,000,000 shares</font></p> </td> </tr>
 <tr>
        <td valign=top style='border-top:none;border-left: none;border-bottom:solid black .5pt;border-right:solid black .5pt; '>
                        <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;'><b><font style='font-size:10pt'>8</font></b></p> </td>
        <td colspan="3" valign=top style='border-top:none; border-left:none;border-bottom:solid black .5pt;border-right:solid black .5pt; '>
                        <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;'><font STYLE='FONT-SIZE:10PT'>SHARED DISPOSITIVE POWER</font></p>
            <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0in;'><font style='font-size:10pt'>0</font></p> </td> </tr>
 <tr>
        <td valign=top style='border:solid black .5pt; border-top:none;'>
                        <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom: 0in;'><b><font style='font-size:10pt'>9</font></b></p> </td>
        <td colspan="5" valign=top style='border-top:none; border-left:none;border-bottom:solid black .5pt;border-right:solid black .5pt; '>
                        <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;'><font STYLE='FONT-SIZE:10PT'>AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</font></p>
            <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0in;'><font style='font-size:10pt'>6,000,000 share</font>s</p> </td> </tr>
 <tr>
        <td valign=top style='border:solid black .5pt; border-top:none;'>
                        <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom: 0in;'><b><font style='font-size:10pt'>10</font></b></p> </td>
        <td colspan="5" valign=top style='border-top:none; border-left:none;border-bottom:solid black .5pt;border-right:solid black .5pt; '>
                        <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;'><font style='font-size:10pt'>CHECK BOX IF THE AGGREGATE AMOUNT IN ROW  (9) EXCLUDES CERTAIN SHARES*&nbsp;&nbsp;</font><font face=Wingdings>o</font><font style='font-size:10pt'> </font></p>
            <p style=' margin-left:.05in;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><font STYLE='FONT-SIZE:10PT'>Not applicable.</font></p> </td> </tr>
 <tr>
        <td valign=top style='border:solid black .5pt; border-top:none;'>
                        <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom: 0in;'><b><font style='font-size:10pt'>11</font></b></p> </td>
        <td colspan="5" valign=top style='border-top:none; border-left:none;border-bottom:solid black .5pt;border-right:solid black .5pt; '>
                        <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;'><font STYLE='FONT-SIZE:10PT'>PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)</font></p>
            <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0in;'><font style='font-size:10pt'>26.9% (based on 22,284,105 shares of Common Stock issued and outstanding as of February 14, 2008)</font></p> </td> </tr>
 <tr>
        <td valign=top style='border:solid black .5pt; border-top:none;'>
                        <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom: 0in;'><b><font style='font-size:10pt'>12</font></b></p> </td>
        <td colspan="5" valign=top style='border-top:none; border-left:none;border-bottom:solid black .5pt;border-right:solid black .5pt; '>
                        <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;'><font STYLE='FONT-SIZE:10PT'>TYPE OF REPORTING PERSON*</font></p>
            <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0in;'><font STYLE='FONT-SIZE:10PT'>CO</font></p> </td> </tr>
 <tr>
        <td width="93" ></td>
                    <td width="132" ></td>
        <td width="73" ></td>
                    <td width="451" ></td>
        <td width="69" ></td>
  <td width="61" ></td> </tr> </table>
</div>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font style='font-size:10pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:12pt'>&nbsp;</font></p>
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        <td width="30%" style='border:solid black .5pt;'>
      <p style=' margin-left:.05in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;'><b><font style='font-size:10pt'>CUSIP No.</font></b><font style='font-size:10pt'> <b>Y81669 10 6</b></font></p> </td>
        <td style='border-right:solid black .5pt; '>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:center;margin-bottom:0pt;'><b><font style='font-size:10pt'>13G</font></b></p> </td>
        <td width="30%" style='border:solid black .5pt;border-left: none;'>
  <p style=' margin-left:0pt;margin-right:.05in;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;'><font style='font-size:10pt'>Page 3 of 7    </font></p> </td> </tr></table>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:10pt'>&nbsp;</font></p>
<div align=left>
<table border="0" cellspacing=0 cellpadding=0 width="100%">
 <tr>
        <td width="93" valign=top style='border:solid black .5pt; '>
      <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom: 0in;'><font style='font-size:10pt'><b>1</b></font></p> </td>
        <td colspan="5" valign=top style='border:solid black .5pt; border-left:none;'>
                        <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;'><font STYLE='FONT-SIZE:10PT'>NAME OF REPORTING PERSON</font></p>
            <p style=' margin-left:.05in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;'><font STYLE='FONT-SIZE:10PT'>I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)</font></p>
            <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0in;'><font style='font-size:10pt'>Harry N. Vafias </font></p> </td> </tr>
 <tr>
        <td valign=top style='border:solid black .5pt; border-top:none;'>
                        <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom: 0in;'><font style='font-size:10pt'><b>2</b></font></p> </td>
        <td colspan="3" valign=top style='border-top:none; border-left:none;border-bottom:solid black .5pt;border-right:solid black .5pt; '>
                        <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;'><font STYLE='FONT-SIZE:10PT'>CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*<br>
<br>
Not applicable.</font></p> </td>
        <td colspan="2" valign=top style='border-top:none; border-left:none;border-bottom:solid black .5pt;border-right:solid black .5pt; '>
                        <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;'><font style='font-size:10pt'>(a) </font><font face=Wingdings>o</font><br> <font style='font-size:10pt'>(b) </font><font face=Wingdings>o</font></p> </td> </tr>
 <tr>
        <td valign=top style='border:solid black .5pt; border-top:none;'>
                        <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom: 0in;'><font style='font-size:10pt'><b>3</b></font></p> </td>
        <td colspan="5" valign=top style='border-top:none; border-left:none;border-bottom:solid black .5pt;border-right:solid black .5pt; '>
                        <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;'><font STYLE='FONT-SIZE:10PT'>SEC USE ONLY</font></p> </td> </tr>

 <tr>
        <td valign=top style='border:solid black .5pt; border-top:none;'>
                        <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom: 0in;'><font style='font-size:10pt'><b>4</b></font></p> </td>
        <td colspan="5" valign=top style='border-top:none; border-left:none;border-bottom:solid black .5pt;border-right:solid black .5pt; '>
                        <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;'><font STYLE='FONT-SIZE:10PT'>CITIZENSHIP OR PLACE OF ORGANIZATION</font></p>
            <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0in;'><font style='font-size:10pt'>Greece</font></p> </td> </tr>
 <tr>
        <td colspan="2" rowspan=4 valign=top style='border: solid black .5pt;border-top:none; '>
                        <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:center;margin-top:20.0pt;margin-bottom: 0in;'><font STYLE='FONT-SIZE:10PT'>NUMBER OF</font><br> <font STYLE='FONT-SIZE:10PT'>SHARES</font><br> <font STYLE='FONT-SIZE:10PT'>BENEFICIALLY</font><br> <font STYLE='FONT-SIZE:10PT'>OWNED BY</font><br> <font STYLE='FONT-SIZE:10PT'>EACH</font><br> <font STYLE='FONT-SIZE:10PT'>REPORTING</font><br> <font STYLE='FONT-SIZE:10PT'>PERSON</font><br> <font STYLE='FONT-SIZE:10PT'>WITH</font>  </p> </td>
        <td width="73" valign=top style='border-top:none;border-left: none;border-bottom:solid black .5pt;border-right:solid black .5pt; '>
      <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;'><b><font style='font-size:10pt'>5</font></b></p> </td>
        <td colspan="3" valign=top style='border-top:none; border-left:none;border-bottom:solid black .5pt;border-right:solid black .5pt; '>
                        <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;'><font STYLE='FONT-SIZE:10PT'>SOLE VOTING POWER</font></p>
            <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0in;'><font style='font-size:10pt'>6,200,000 shares(1)</font></p> </td> </tr>
 <tr>
        <td valign=top style='border-top:none;border-left: none;border-bottom:solid black .5pt;border-right:solid black .5pt; '>
                        <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;'><b><font style='font-size:10pt'>6</font></b></p> </td>
        <td colspan="3" valign=top style='border-top:none; border-left:none;border-bottom:solid black .5pt;border-right:solid black .5pt; '>
                        <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;'><font STYLE='FONT-SIZE:10PT'>SHARED VOTING POWER</font></p>
            <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0in;'><font style='font-size:10pt'>0</font></p> </td> </tr>
 <tr>
        <td valign=top style='border-top:none;border-left: none;border-bottom:solid black .5pt;border-right:solid black .5pt; '>
                        <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;'><b><font style='font-size:10pt'>7</font></b></p> </td>
        <td colspan="3" valign=top style='border-top:none; border-left:none;border-bottom:solid black .5pt;border-right:solid black .5pt; '>
                        <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;'><font STYLE='FONT-SIZE:10PT'>SOLE DISPOSITIVE POWER</font></p>
            <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0in;'><font style='font-size:10pt'>6,200,000 shares(1)</font></p> </td> </tr>
 <tr>
        <td valign=top style='border-top:none;border-left: none;border-bottom:solid black .5pt;border-right:solid black .5pt; '>
                        <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;'><b><font style='font-size:10pt'>8</font></b></p> </td>
        <td colspan="3" valign=top style='border-top:none; border-left:none;border-bottom:solid black .5pt;border-right:solid black .5pt; '>
                        <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;'><font STYLE='FONT-SIZE:10PT'>SHARED DISPOSITIVE POWER</font></p>
            <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0in;'><font style='font-size:10pt'>0</font></p> </td> </tr>
 <tr>
        <td valign=top style='border:solid black .5pt; border-top:none;'>
                        <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom: 0in;'><b><font style='font-size:10pt'>9</font></b></p> </td>
        <td colspan="5" valign=top style='border-top:none; border-left:none;border-bottom:solid black .5pt;border-right:solid black .5pt; '>
                        <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;'><font STYLE='FONT-SIZE:10PT'>AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</font></p>
            <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0in;'><font style='font-size:10pt'>6,200,000 shares(1)</font></p> </td> </tr>
 <tr>
        <td valign=top style='border:solid black .5pt; border-top:none;'>
                        <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom: 0in;'><b><font style='font-size:10pt'>10</font></b></p> </td>
        <td colspan="5" valign=top style='border-top:none; border-left:none;border-bottom:solid black .5pt;border-right:solid black .5pt; '>
                        <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;'><font style='font-size:10pt'>CHECK BOX IF THE AGGREGATE AMOUNT IN ROW  (9) EXCLUDES CERTAIN SHARES*&nbsp;&nbsp;</font><font face=Wingdings>o</font><font style='font-size:10pt'> </font></p>
            <p style=' margin-left:.05in;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><font STYLE='FONT-SIZE:10PT'>Not applicable.</font></p> </td> </tr>
 <tr>
        <td valign=top style='border:solid black .5pt; border-top:none;'>
                        <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom: 0in;'><b><font style='font-size:10pt'>11</font></b></p> </td>
        <td colspan="5" valign=top style='border-top:none; border-left:none;border-bottom:solid black .5pt;border-right:solid black .5pt; '>
                        <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;'><font STYLE='FONT-SIZE:10PT'>PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)</font></p>
            <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0in;'><font style='font-size:10pt'>27.8% (based on 22,284,105 shares of Common Stock issued and outstanding as of February 14, 2008)</font></p> </td> </tr>
 <tr>
        <td valign=top style='border:solid black .5pt; border-top:none;'>
                        <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom: 0in;'><b><font style='font-size:10pt'>12</font></b></p> </td>
        <td colspan="5" valign=top style='border-top:none; border-left:none;border-bottom:solid black .5pt;border-right:solid black .5pt; '>
                        <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:4.0pt;margin-bottom:0in;'><font STYLE='FONT-SIZE:10PT'>TYPE OF REPORTING PERSON*</font></p>
            <p style=' margin-left:.05in;margin-right:0in;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0in;'><font STYLE='FONT-SIZE:10PT'>IN</font></p> </td> </tr>
 <tr>
        <td width="93" ></td>
                    <td width="132" ></td>
        <td width="73" ></td>
                    <td width="451" ></td>
        <td width="69" ></td>
  <td width="61" ></td> </tr> </table>
</div>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font style='font-size:10pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:10pt'>(1) Includes (a) 6,050,000 shares of Common Stock and (b) 150,000 restricted shares, 25,000 shares of which will vest on October 1, 2008, 50,000 shares of which will vest on October 31, 2008, 25,000 shares of which will vest on October 1, 2009, 25,000 shares of which will vest on October 31, 2009 and 25,000 shares of which will vest on October 31, 2010.</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font style='font-size:10pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:12pt'>&nbsp;</font></p>
<!-- EEDocs PBStart--><hr noshade="noshade" align="center" width="100%" size="2"><p style='page-break-before:always'></p><DIV STYLE="page-break-before: always;"></DIV><BR>
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      <td width="30%" style='border:solid black .5pt;'><p style=' margin-left:.05in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;'><b><font style='font-size:10pt'>CUSIP No.</font></b><font style='font-size:10pt'><b> Y81669 10 6</b></font></p></td>
      <td style='border-right:solid black .5pt; '><p style=' margin-left:0pt;text-indent:0pt;text-align:center;margin-bottom:0pt;'><b><font style='font-size:10pt'>13G</font></b></p></td>
      <td width="30%" style='border:solid black .5pt;border-left: none;'><p style=' margin-left:0pt;margin-right:.05in;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;'><font style='font-size:10pt'>Page 4 of 7 </font></p></td>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:12pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:12pt'>&nbsp;</font></p>
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      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><b><font style='font-size:10pt'>Item 1.</font></b></p> </td>
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      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><b><font style='font-size:10pt'>(a)</font></b></p> </td>
        <td valign=top style='padding:6.0pt 0in 0in 0in;'>
      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><b><font style='font-size:10pt'>Name of Issuer:</font></b></p> </td> </tr></table>
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<p style=' margin-bottom:0pt; margin-top:8pt; margin-left:15%;text-align:left;'><font style='font-size:10pt'>StealthGas Inc. (the &#147;Company&#148;)</font></p>
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      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6pt;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
        <td width="5%" valign=top style='padding:6.0pt 0in 0in 0in;'>
      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><b><font style='font-size:10pt'>(b)</font></b></p> </td>
        <td width="85%" valign=top style='padding:6.0pt 0in 0in 0in;'>
      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><b><font style='font-size:10pt'>Address of Issuer&#146;s Principal Executive Offices:</font></b></p> </td> </tr></table>
</div>
<p style=' margin-bottom:0pt; margin-top:8pt; margin-left:15%;text-align:left;'><font style='font-size:10pt'>331 Kifissias Avenue</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:15%;text-align:left;'><font style='font-size:10pt'>Erithrea 14561</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:15%;text-align:left;'><font style='font-size:10pt'>Athens, Greece</font></p>
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      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><b><font style='font-size:10pt'>Item 2.</font></b></p> </td>
        <td width="5%" valign=top style='padding:8.0pt 0in 0in 0in;'>
      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><b><font style='font-size:10pt'>(a)</font></b></p> </td>
        <td valign=top style='padding:8.0pt 0in 0in 0in;'>
  <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><b><font style='font-size:10pt'>Name of Person Filing:</font></b></p> </td> </tr></table>
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<p style=' margin-bottom:0pt; margin-top:8pt; margin-left:15%;text-align:left;'><font style='font-size:10pt'>This statement is being filed pursuant to a Joint Filing Agreement (attached as Exhibit 1 and incorporated herein by reference) between (i) Flawless Management Inc. and (ii) Harry N. Vafias. Mr.&nbsp;Vafias is the sole stockholder of Flawless Management Inc. </font></p>
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      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6pt;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
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      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><b><font style='font-size:10pt'>(b)</font></b></p> </td>
        <td width="85%" valign=top style='padding:6.0pt 0in 0in 0in;'>
      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><b><font style='font-size:10pt'>Address of Principal Business Office or, if None, Residence: </font></b></p> </td> </tr></table>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:10pt'>&nbsp;</font></p>
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      <p style=' margin-left:8.65pt;text-indent:-8.65pt;text-align:left;margin-top:2pt;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
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      <p style=' margin-left:8.65pt;text-indent:-8.65pt;text-align:left;margin-top:2pt;margin-bottom:0pt;'><font style='font-size:10pt'>Flawless Management Inc. </font></p> </td>
        <td width="45%" valign=top >
      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;'><font style='font-size:10pt'>331 Kifissias Avenue</font></p> </td> </tr>
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                        <p style=' margin-left:8.65pt;margin-right:0in;text-indent:-8.65pt;text-align:left;margin-top:0in;margin-bottom: 0in;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:8.65pt;margin-right:0in;text-indent:-8.65pt;text-align:left;margin-top:0in;margin-bottom: 0in;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
        <td valign=top >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>Erithrea 14561</font></p> </td> </tr>
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                        <p style=' margin-left:8.65pt;margin-right:0in;text-indent:-8.65pt;text-align:left;margin-top:0in;margin-bottom: 0in;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:8.65pt;margin-right:0in;text-indent:-8.65pt;text-align:left;margin-top:0in;margin-bottom: 0in;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>Athens, Greece</font></p> </td> </tr>
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                        <p style=' margin-left:8.65pt;text-indent:-8.65pt;text-align:left;margin-top:2pt;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:8.65pt;text-indent:-8.65pt;text-align:left;margin-top:2pt;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td> </tr>
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                        <p style=' margin-left:8.65pt;text-indent:-8.65pt;text-align:left;margin-top:2pt;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:8.65pt;text-indent:-8.65pt;text-align:left;margin-top:2pt;margin-bottom:0pt;'><font style='font-size:10pt'>Harry N. Vafias</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;'><font style='font-size:10pt'>331 Kifissias Avenue</font></p> </td> </tr>
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                        <p style=' margin-left:8.65pt;margin-right:0in;text-indent:-8.65pt;text-align:left;margin-top:0in;margin-bottom: 0in;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:8.65pt;margin-right:0in;text-indent:-8.65pt;text-align:left;margin-top:0in;margin-bottom: 0in;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>Erithrea 14561</font></p> </td> </tr>
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                        <p style=' margin-left:8.65pt;margin-right:0in;text-indent:-8.65pt;text-align:left;margin-top:0in;margin-bottom: 0in;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:8.65pt;margin-right:0in;text-indent:-8.65pt;text-align:left;margin-top:0in;margin-bottom: 0in;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>Athens, Greece</font></p> </td> </tr></table>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6pt;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
        <td width="5%" valign=top style='padding:6.0pt 0in 0in 0in;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><b><font style='font-size:10pt'>(c)</font></b></p> </td>
        <td valign=top style='padding:6.0pt 0in 0in 0in;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><b><font style='font-size:10pt'>Citizenship: </font></b></p> </td> </tr></table>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:10pt'>&nbsp;</font></p>
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      <p style=' margin-left:8.65pt;text-indent:-8.65pt;text-align:left;margin-top:2pt;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
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      <p style=' margin-left:8.65pt;text-indent:-8.65pt;text-align:left;margin-top:2pt;margin-bottom:0pt;'><font style='font-size:10pt'>Flawless Management Inc. </font></p> </td>
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      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;'><font style='font-size:10pt'>Republic of the Marshall Islands</font></p> </td> </tr>
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                        <p style=' margin-left:8.65pt;text-indent:-8.65pt;text-align:left;margin-top:2pt;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:8.65pt;text-indent:-8.65pt;text-align:left;margin-top:2pt;margin-bottom:0pt;'><font style='font-size:10pt'>Harry N. Vafias</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;'><font style='font-size:10pt'>Greece</font></p> </td> </tr></table>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6pt;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><b><font style='font-size:10pt'>(d)</font></b></p> </td>
        <td valign=top style='padding:6.0pt 0in 0in 0in;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><b><font style='font-size:10pt'>Title of Class of Securities: </font></b></p> </td> </tr></table>
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<p style=' margin-bottom:0pt; margin-top:8pt; margin-left:15%;text-align:left;'><font style='font-size:10pt'>Common Stock, par value $0.01 per share (the &#147;Common Stock&#148;)</font></p>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6pt;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><b><font style='font-size:10pt'>(e)</font></b></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><b><font style='font-size:10pt'>CUSIP Number: </font></b></p> </td> </tr></table>
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<p style=' margin-bottom:0pt; margin-top:8pt; margin-left:15%;text-align:left;'><font STYLE='FONT-SIZE:10PT'>Y81669 10 6</font></p>


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      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><b><font style='font-size:10pt'>Item 3.</font></b></p> </td>
        <td width="90%" valign=top style='padding:6.0pt 0in 0in 0in;'>
      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><b><font style='font-size:10pt'>If this Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b) or (c), Check whether the Person Filing is:</font></b></p> </td>
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      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6pt;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
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      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><font style='font-size:10pt'>(a)</font></p> </td>
        <td width="5%" valign=top style='padding:6.0pt 0in 0in 0in;'>
      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><font face=Wingdings>o</font></p> </td>
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  <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><font style='font-size:10pt'>Broker or dealer registered under Section 15 of the Exchange Act;</font></p> </td> </tr></table>
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        <td width="10%" valign=top style='padding:6.0pt 0in 0in 0in;'>
      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6pt;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
        <td width="5%" valign=top style='padding:6.0pt 0in 0in 0in;'>
      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><font style='font-size:10pt'>(b)</font></p> </td>
        <td width="5%" valign=top style='padding:6.0pt 0in 0in 0in;'>
      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><font face=Wingdings>o</font></p> </td>
        <td valign=top style='padding:6.0pt 0in 0in 0in;'>
      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><font style='font-size:10pt'>Bank as defined in Section 3(a) (6) of the Exchange Act;</font></p> </td> </tr></table>
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      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6pt;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
        <td width="5%" valign=top style='padding:6.0pt 0in 0in 0in;'>
      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><font style='font-size:10pt'>(c)</font></p> </td>
        <td width="5%" valign=top style='padding:6.0pt 0in 0in 0in;'>
      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><font face=Wingdings>o</font></p> </td>
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      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><font style='font-size:10pt'>Insurance company as defined in Section 3(a) (19) of the Exchange Act;</font></p> </td> </tr></table>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:10pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:12pt'>&nbsp;</font></p>
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      <td width="30%" style='border:solid black .5pt;'><p style=' margin-left:.05in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;'><b><font style='font-size:10pt'>CUSIP No.</font></b><font style='font-size:10pt'><b> Y81669 10 6</b></font></p></td>
      <td style='border-right:solid black .5pt; '><p style=' margin-left:0pt;text-indent:0pt;text-align:center;margin-bottom:0pt;'><b><font style='font-size:10pt'>13G</font></b></p></td>
      <td width="30%" style='border:solid black .5pt;border-left: none;'><p style=' margin-left:0pt;margin-right:.05in;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;'><font style='font-size:10pt'>Page 5 of 7 </font></p></td>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:12pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:12pt'>&nbsp;</font></p>


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      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6pt;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
        <td width="5%" valign=top style='padding:6.0pt 0in 0in 0in;'>
      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><font style='font-size:10pt'>(d)</font></p> </td>
        <td width="7%" valign=top style='padding:6.0pt 0in 0in 0in;'>
      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><font face=Wingdings>o</font></p> </td>
        <td width="78%" valign=top style='padding:6.0pt 0in 0in 0in;'>
  <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><font style='font-size:10pt'>Investment company registered under Section 8 of the Investment Company Act;</font></p> </td> </tr></table>
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        <td width="12%" valign=top style='padding:6.0pt 0in 0in 0in;'>
      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6pt;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
        <td width="6%" valign=top style='padding:6.0pt 0in 0in 0in;'>
      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><font style='font-size:10pt'>(e)</font></p> </td>
        <td width="8%" valign=top style='padding:6.0pt 0in 0in 0in;'>
      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><font face=Wingdings>o</font></p> </td>
        <td width="74%" valign=top style='padding:6.0pt 0in 0in 0in;'>
      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><font style='font-size:10pt'>An investment adviser in accordance with Rule 13-d-1(b) (1) (ii) (E);</font></p> </td> </tr></table>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6pt;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
        <td width="5%" valign=top style='padding:6.0pt 0in 0in 0in;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><font style='font-size:10pt'>(f)</font></p> </td>
        <td width="7%" valign=top style='padding:6.0pt 0in 0in 0in;'><p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><font face=Wingdings>o</font></p> </td>
        <td width="78%" valign=top style='padding:6.0pt 0in 0in 0in;'>
      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><font style='font-size:10pt'>An Employee benefit plan or endowment fund in accordance with Rule 13-d-1(b) (1) (ii) (F);</font></p> </td> </tr></table>
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        <td width="10%" valign=top style='padding:6.0pt 0in 0in 0in;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6pt;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
        <td width="5%" valign=top style='padding:6.0pt 0in 0in 0in;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><font style='font-size:10pt'>(g)</font></p> </td>
        <td width="7%" valign=top style='padding:6.0pt 0in 0in 0in;'><p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><font face=Wingdings>o</font></p></td>
        <td width="78%" valign=top style='padding:6.0pt 0in 0in 0in;'>
      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><font style='font-size:10pt'>A parent holding company or control person in accordance with Rule 13-d-1(b) (1) (ii) (G);</font></p> </td> </tr></table>
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      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6pt;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
        <td width="5%" valign=top style='padding:6.0pt 0in 0in 0in;'>
      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><font style='font-size:10pt'>(h)</font></p> </td>
        <td width="7%" valign=top style='padding:6.0pt 0in 0in 0in;'>
      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><font face=Wingdings>o</font></p> </td>
        <td width="78%" valign=top style='padding:6.0pt 0in 0in 0in;'>
      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><font style='font-size:10pt'>A Savings association as defined in Section 3(b) of the Federal Deposit Insurance Act;</font></p> </td> </tr></table>
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        <td width="10%" valign=top style='padding:6.0pt 0in 0in 0in;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6pt;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
        <td width="5%" valign=top style='padding:6.0pt 0in 0in 0in;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><font style='font-size:10pt'>(i)</font></p> </td>
        <td width="7%" valign=top style='padding:6.0pt 0in 0in 0in;'><p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><font face=Wingdings>o</font></p> </td>
        <td width="78%" valign=top style='padding:6.0pt 0in 0in 0in;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><font style='font-size:10pt'>A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act;</font></p> </td> </tr></table>
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        <td width="10%" valign=top style='padding:6.0pt 0in 0in 0in;'>
      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6pt;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
        <td width="5%" valign=top style='padding:6.0pt 0in 0in 0in;'>
      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><font style='font-size:10pt'>(j)</font></p> </td>
        <td width="7%" valign=top style='padding:6.0pt 0in 0in 0in;'>
      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><font face=Wingdings>o</font></p> </td>
        <td width="78%" valign=top style='padding:6.0pt 0in 0in 0in;'>
      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><font style='font-size:10pt'>Group, in accordance with Rule 13-d-1(b) (1) (ii) (J)</font></p> </td> </tr></table>
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<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:10%;text-align:left;'><font style='font-size:2pt'>&nbsp;</font></p>
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        <td width="10%" valign=top style='padding:0pt 0in 0in 0in;'>&nbsp;</td>
        <td width="90%" valign=top style='padding:0pt 0in 0in 0in;'> <p style=' margin-bottom:0pt; margin-top:8pt; margin-left:0%;text-align:left;'><font style='font-size:10pt'>Not applicable.</font></p>
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      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><b><font style='font-size:10pt'>Item 4.</font></b></p> </td>
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      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><b><font style='font-size:10pt'>Ownership.</font></b></p> </td> </tr></table>
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        <td width="10%" valign=top style='padding:8.0pt 0in 0in 0in;'>
      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:8pt;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
        <td width="5%" valign=top style='padding:8.0pt 0in 0in 0in;'>
      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><font style='font-size:10pt'>(a)</font></p> </td>
        <td valign=top style='padding:8.0pt 0in 0in 0in;'>
      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><font style='font-size:10pt'>Amount beneficially owned:</font></p> </td> </tr></table>
</div>
<p style=' margin-bottom:0pt; margin-top:8pt; margin-left:15%;text-align:left;'><font style='font-size:10pt'>6,200,000 shares(1) beneficially owned by Harry N. Vafias, including the 6,000,000 shares beneficially owned by Flawless Management Inc.</font></p>
<div align=left>
<table border="0" cellspacing=0 cellpadding=0 width="100%" style=' border-collapse:collapse;'>
 <tr>
        <td width="10%" valign=top style='padding:6.0pt 0in 0in 0in;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6pt;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
        <td width="5%" valign=top style='padding:6.0pt 0in 0in 0in;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><font style='font-size:10pt'>(b)</font></p> </td>
        <td valign=top style='padding:6.0pt 0in 0in 0in;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><font style='font-size:10pt'>Percent of class: </font></p> </td> </tr></table>
</div>
<p style=' margin-bottom:0pt; margin-top:8pt; margin-left:15%;text-align:left;'><font style='font-size:10pt'>27.8% by Harry N. Vafias (based on 22,284,105 shares of Common Stock issued and outstanding as of February 14, 2008)</font></p>
<p style=' margin-bottom:0pt; margin-top:8pt; margin-left:15%;text-align:left;'><font style='font-size:10pt'>26.9% by Flawless Management Inc. (based on 22,284,105 shares of Common Stock issued and outstanding as of February 14, 2008)</font></p>
<div align=left>
<table border="0" cellspacing=0 cellpadding=0 width="100%" style=' border-collapse:collapse;'>
 <tr>
        <td width="10%" valign=top style='padding:6.0pt 0in 0in 0in;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6pt;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
        <td width="5%" valign=top style='padding:6.0pt 0in 0in 0in;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><font style='font-size:10pt'>(c)</font></p> </td>
        <td valign=top style='padding:6.0pt 0in 0in 0in;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><font style='font-size:10pt'>Number of shares as to which the person has: </font></p> </td> </tr></table>
</div>
<div align=left>
<table border="0" cellspacing=0 cellpadding=0 width="100%" style=' border-collapse:collapse;'>
 <tr>
        <td width="15%" valign=top style='padding:6.0pt 0in 0in 0in;'>
      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6pt;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
        <td width="6%" valign=top style='padding:6.0pt 0in 0in 0in;'>
      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><font style='font-size:10pt'>(i) </font></p> </td>
        <td width="79%" valign=top style='padding:6.0pt 0in 0in 0in;'>
      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><font style='font-size:10pt'>Sole power to vote or to direct the vote: </font></p> </td> </tr></table>
</div>
<p style=' margin-bottom:0pt; margin-top:8pt; margin-left:21%;text-align:left;'><font style='font-size:10pt'>6,200,000 shares(1) beneficially owned by Harry N. Vafias, including the 6,000,000 shares beneficially owned by Flawless Management Inc.</font></p>
<div align=left>
<table border="0" cellspacing=0 cellpadding=0 width="100%" style=' border-collapse:collapse;'>
 <tr>
        <td width="15%" valign=top style='padding:6.0pt 0in 0in 0in;'>
      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6pt;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
        <td width="6%" valign=top style='padding:6.0pt 0in 0in 0in;'>
      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><font style='font-size:10pt'>(ii) </font></p> </td>
        <td width="79%" valign=top style='padding:6.0pt 0in 0in 0in;'>
      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><font style='font-size:10pt'>Shared power to vote or to direct the vote: </font></p> </td> </tr></table>
</div>
<p style=' margin-bottom:0pt; margin-top:8pt; margin-left:21%;text-align:left;'><font style='font-size:10pt'>0 </font></p>
<div align=left>
<table border="0" cellspacing=0 cellpadding=0 width="100%" style=' border-collapse:collapse;'>
 <tr>
        <td width="15%" valign=top style='padding:6.0pt 0in 0in 0in;'>
      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6pt;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
        <td width="6%" valign=top style='padding:6.0pt 0in 0in 0in;'>
      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><font style='font-size:10pt'>(iii)</font></p> </td>
        <td width="79%" valign=top style='padding:6.0pt 0in 0in 0in;'>
      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><font style='font-size:10pt'>Sole power to dispose or to direct the disposition of: </font></p> </td> </tr></table>
</div>
<p style=' margin-bottom:0pt; margin-top:8pt; margin-left:21%;text-align:left;'><font style='font-size:10pt'>6,200,000 shares(1) beneficially owned by Harry N. Vafias, including the 6,000,000 shares beneficially owned by Flawless Management Inc.</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:10pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:12pt'>&nbsp;</font></p>
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      <td width="30%" style='border:solid black .5pt;'><p style=' margin-left:.05in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;'><b><font style='font-size:10pt'>CUSIP No.</font></b><font style='font-size:10pt'><b> Y81669 10 6</b></font></p></td>
      <td style='border-right:solid black .5pt; '><p style=' margin-left:0pt;text-indent:0pt;text-align:center;margin-bottom:0pt;'><b><font style='font-size:10pt'>13G</font></b></p></td>
      <td width="30%" style='border:solid black .5pt;border-left: none;'><p style=' margin-left:0pt;margin-right:.05in;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;'><font style='font-size:10pt'>Page 6 of 7 </font></p></td>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:12pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:12pt'>&nbsp;</font></p>


<div align=left>
<table border="0" cellspacing=0 cellpadding=0 width="100%" style=' border-collapse:collapse;'>
 <tr>
        <td width="14%" valign=top style='padding:6.0pt 0in 0in 0in;'>
      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6pt;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
        <td width="7%" valign=top style='padding:6.0pt 0in 0in 0in;'>
      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><font style='font-size:10pt'>(iv)</font></p> </td>
        <td width="79%" valign=top style='padding:6.0pt 0in 0in 0in;'>
      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><font style='font-size:10pt'>Shared power to dispose or to direct the disposition of: </font></p> </td> </tr></table>
</div>
<p style=' margin-bottom:0pt; margin-top:8pt; margin-left:21%;text-align:left;'><font style='font-size:10pt'>0 </font></p>
<p style=' margin-bottom:0pt; margin-top:8pt;text-align:left;'><font style='font-size:10pt'>(1) Includes (a) 6,050,000 shares of Common Stock and (b) 150,000 restricted shares, 25,000 shares of which will vest on October 1, 2008, 50,000 shares of which will vest on October 31, 2008, 25,000 shares of which will vest on October 1, 2009, 25,000 shares of which will vest on October 31, 2009 and 25,000 shares of which will vest on October 31, 2010.</font></p>
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        <td width="10%" valign=top style='padding:6.0pt 0in 0in 0in;'>
      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><b><font style='font-size:10pt'>Item 5.</font></b></p> </td>
        <td valign=top style='padding:6.0pt 0in 0in 0in;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><b><font style='font-size:10pt'>Ownership of Five Percent or Less of a Class.</font></b></p> </td> </tr></table>
</div>
<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:10%;text-align:left;'><font style='font-size:10pt'>If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following </font><font face=Wingdings>o</font><font style='font-size:10pt'>. </font></p>
<p style=' margin-bottom:0pt; margin-top:8pt; margin-left:10%;text-align:left;'><font style='font-size:10pt'>Not applicable.</font></p>
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        <td width="10%" valign=top style='padding:6.0pt 0in 0in 0in;'>
      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><b><font style='font-size:10pt'>Item 6.</font></b></p> </td>
        <td valign=top style='padding:6.0pt 0in 0in 0in;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><b><font style='font-size:10pt'>Ownership of More than Five Percent on Behalf of Another Person. </font></b></p> </td> </tr></table>
</div>
<p style=' margin-bottom:0pt; margin-top:8pt; margin-left:10%;text-align:left;'><font style='font-size:10pt'>Not applicable.</font></p>
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<table border="0" cellspacing=0 cellpadding=0 width="100%" style=' border-collapse:collapse;'>
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        <td width="10%" valign=top style='padding:6.0pt 0in 0in 0in;'>
      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><b><font style='font-size:10pt'>Item 7.</font></b></p> </td>
        <td valign=top style='padding:6.0pt 0in 0in 0in;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><b><font style='font-size:10pt'>Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company.</font></b></p> </td> </tr></table>
</div>
<p style=' margin-bottom:0pt; margin-top:8pt; margin-left:10%;text-align:left;'><font style='font-size:10pt'>Not applicable.</font></p>
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<table border="0" cellspacing=0 cellpadding=0 width="100%" style=' border-collapse:collapse;'>
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        <td width="10%" valign=top style='padding:6.0pt 0in 0in 0in;'>
      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><b><font style='font-size:10pt'>Item 8.</font></b></p> </td>
        <td valign=top style='padding:6.0pt 0in 0in 0in;'>
      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><b><font style='font-size:10pt'>Identification and Classification of Members of the Group.</font></b></p> </td> </tr></table>
</div>
<p style=' margin-bottom:0pt; margin-top:8pt; margin-left:10%;text-align:left;'><font style='font-size:10pt'>Not applicable.</font></p>
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<table border="0" cellspacing=0 cellpadding=0 width="100%" style=' border-collapse:collapse;'>
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        <td width="10%" valign=top style='padding:8.0pt 0in 0in 0in;'>
      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><b><font style='font-size:10pt'>Item 9.</font></b></p> </td>
        <td valign=top style='padding:8.0pt 0in 0in 0in;'>
      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><b><font style='font-size:10pt'>Notice of Dissolution of Group.</font></b></p> </td> </tr></table>
</div>
<p style=' margin-bottom:0pt; margin-top:8pt; margin-left:10%;text-align:left;'><font style='font-size:10pt'>Not applicable.</font></p>
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        <td width="10%" valign=top style='padding:6.0pt 0in 0in 0in;'>
      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><b><font style='font-size:10pt'>Item 10.</font></b></p> </td>
        <td valign=top style='padding:6.0pt 0in 0in 0in;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><b><font style='font-size:10pt'>Certifications.</font></b></p> </td> </tr></table>
</div>
<p style=' margin-bottom:0pt; margin-top:8pt; margin-left:10%;text-align:left;'><font style='font-size:10pt'>Not applicable.</font></p>
<p style=' margin-bottom:0pt; margin-top:8pt;text-align:center;'><font style='font-size:10pt'>[The remainder of this page intentionally left blank.]</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:10pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:12pt'>&nbsp;</font></p>
<!-- EEDocs PBStart--><hr noshade="noshade" align="center" width="100%" size="2"><p style='page-break-before:always'></p><DIV STYLE="page-break-before: always;"></DIV><BR>
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      <td width="30%" style='border:solid black .5pt;'><p style=' margin-left:.05in;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;'><b><font style='font-size:10pt'>CUSIP No.</font></b><font style='font-size:10pt'><b> Y81669 10 6</b></font></p></td>
      <td style='border-right:solid black .5pt; '><p style=' margin-left:0pt;text-indent:0pt;text-align:center;margin-bottom:0pt;'><b><font style='font-size:10pt'>13G</font></b></p></td>
      <td width="30%" style='border:solid black .5pt;border-left: none;'><p style=' margin-left:0pt;margin-right:.05in;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;'><font style='font-size:10pt'>Page 7 of 7 </font></p></td>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:12pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:12pt'>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:16pt;text-align:center;'><B><font STYLE='FONT-SIZE:10PT'>SIGNATURE</font></B></p>
<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:5%;text-align:left;'><font style='font-size:10pt'>After reasonable inquiry and to the best of the knowledge and belief of each of the undersigned, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.</font></p>
<p style=' margin-bottom:0pt; margin-top:8pt;text-align:left;'><font style='font-size:10pt'>Date: February 14, 2008</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:10pt'>&nbsp;</font></p>
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<table border="0" cellspacing=0 cellpadding=0 width="100%" style=' border-collapse:collapse;'>
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        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font STYLE='FONT-SIZE:10PT'>FLAWLESS MANAGEMENT INC.</font></p> </td> </tr>
 <tr>
        <td width="5%" valign=top >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'>  </p> </td>
        <td width="7%" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'>  </p> </td>
        <td width="37%" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'>  </p> </td>
        <td width="7%" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'>  </p> </td>
        <td width="7%" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>By:&nbsp;</font></p> </td>
        <td width="37%" valign=bottom style='border-bottom: solid black .5pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><br> <font style='font-size:10pt'>/s/ Harry N. Vafias</font></p> </td> </tr>
 <tr>
        <td valign=top >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
        <td valign=top >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
        <td valign=top >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
        <td valign=top >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
        <td valign=top >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
        <td valign=top >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>Name:&nbsp;Harry N. Vafias</font></p> </td> </tr>
 <tr>
        <td valign=top >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
        <td valign=top >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
        <td valign=top >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
        <td valign=top >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
        <td valign=top >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
        <td valign=top >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>Title:&nbsp;Chief Executive Officer</font></p> </td> </tr></table>
</div>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:10pt'>&nbsp;</font></p>
<div align=left>
<table border="0" cellspacing=0 cellpadding=0 width="100%" style=' border-collapse:collapse;'>
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        <td width="49%" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
        <td width="7%" valign=bottom >
      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
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      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
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      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td> </tr>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'>  </p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><br> <font style='font-size:10pt'>/s/ Harry N. Vafias</font></p> </td> </tr>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>Harry N. Vafias</font></p> </td> </tr></table>
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<DOCUMENT>
<TYPE>EX-1
<SEQUENCE>2
<FILENAME>file2.htm
<DESCRIPTION>JOINT FILING AGREEMENT
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<DIV STYLE="page-break-before: always;"></DIV><BR>
<p style=' margin-bottom:0pt; margin-top:8pt;text-align:right;'><font style='font-size:10pt'>Exhibit 1</font></p>
<p style=' margin-bottom:0pt; margin-top:16pt;text-align:center;'><B><font STYLE='FONT-SIZE:10PT'>JOINT FILING AGREEMENT</font></B></p>
<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:5%;text-align:left;'><font style='font-size:10pt'>JOINT FILING AGREEMENT, dated as of the 14th day of February, 2008, between Harry N. Vafias and Flawless Management Inc. (collectively, the &#147;Joint Filers&#148;). </font></p>
<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:5%;text-align:left;'><font style='font-size:10pt'>WHEREAS, pursuant to Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;), the parties hereto desire to satisfy any filing obligation under Section 13(d) of the Exchange Act by a single joint filing;</font></p>
<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:5%;text-align:left;'><font style='font-size:10pt'>NOW, THEREFORE, in consideration of the premises and the mutual covenants herein contained, the Joint Filers hereby agree and represent as follows: </font></p>
<p style=' margin-bottom:0pt; margin-top:8pt;text-align:left;'><font style='font-size:10pt'>Schedule 13G with respect to the Common Stock, par value $.01 per share, of StealthGas Inc. (to which this Joint Filing Agreement is an exhibit) is filed on behalf of each of the Joint Filers. </font></p>
<p style=' margin-bottom:0pt; margin-top:8pt;text-align:left;'><font style='font-size:10pt'>Each of the Joint Filers is eligible to use Schedule 13G for the filing of information therein contained. </font></p>
<p style=' margin-bottom:0pt; margin-top:8pt;text-align:left;'><font style='font-size:10pt'>Each of the Joint Filers is responsible for the timely filing of Schedule 13G and any amendments thereto, and for the completeness and accuracy of the information concerning such person contained therein, provided that each such person is not responsible for the completeness or accuracy of the information concerning the other persons making the filing, unless such person knows or has reason to believe that such information is inaccurate.</font></p>
<p style=' margin-bottom:0pt; margin-top:16pt;text-align:center;'><font style='font-size:10pt'>[The remainder of page intentionally left blank]</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:10pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:12pt'>&nbsp;</font></p>
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<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:5%;text-align:left;'><font style='font-size:10pt'>IN WITNESS WHEREOF, the undersigned have caused this Joint Filing Agreement to be duly executed and delivered as of the date first written above. </font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:10pt'>&nbsp;</font></p>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font STYLE='FONT-SIZE:10PT'>FLAWLESS MANAGEMENT INC.</font></p> </td> </tr>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'>  </p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>By:&nbsp;</font></p> </td>
        <td width="37%" valign=bottom style='border-bottom: solid black .5pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><br> <font style='font-size:10pt'>/s/ Harry N. Vafias</font></p> </td> </tr>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>Name:&nbsp;</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>Harry N. Vafias</font></p> </td> </tr>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>Title:&nbsp;</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>Chief Executive Officer</font></p> </td> </tr></table>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:10pt'>&nbsp;</font></p>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
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      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
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      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
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      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td> </tr>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'>  </p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-bottom: solid black .5pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><br> <font style='font-size:10pt'>/s/ Harry N. Vafias</font></p> </td> </tr>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>Harry N. Vafias</font></p> </td> </tr></table>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:10pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:12pt'>&nbsp;</font></p>
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