----

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**UNITED      STATES**

**SECURITIES      AND EXCHANGE COMMISSION **

**WASHINGTON,      D.C. 20549 **

**FORM      10-Q **

**Quarterly      Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of      1934**
**For      the quarterly period ended June 30, 2006.**

**Transition      Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of      1934**
**or      the transition period from __________to____________.**

**Commission      File Number: **
**001-32685**

**Star      Maritime**
**      Acquisition Corporation**

| **Delaware**                                                                                |   | **20-2873585**                                                    |
|---------------------------------------------------------------------------------------------|--------|-------------------------------------------------------------------|
| (State                or Other Jurisdiction ofIncorporation                or Organization) |   | (I.R.S.                EmployerIdentification                No.) |

**c/o      Schwartz & Weiss, P.C.**

**457      Madison Avenue**

**New      York, New York 10022**

**212-752-3100**

|  Large                Accelerated Filer o |  Accelerated                Filer  o |  Non-Accelerated                Filer  x |
|------------------------------------------------|------------------------------------------------|----------------------------------------------------|

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----

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**Star      Maritime Acquisition Corporation Index to Form 10-Q **

| **Part                I.**  | **Financial                Information**                                                                                          |   |
|-----------------------------|-----------------------------------------------------------------------------------------------------------------------------------|--------|
|                        |                                                                                                                              |   |
|                        | Item                1. Financial Statements (unaudited)                                                                           | 3      |
|                        |                                                                                                                              |   |
|                        | Condensed                Balance Sheet                                                                                            | 3      |
|                        |                                                                                                                              |   |
|                        | Condensed                Statements of Income                                                                                     | 4      |
|                        |                                                                                                                              |   |
|                        | Condensed                Statement of Stockholders’ Equity                                                                  | 5      |
|                        |                                                                                                                              |   |
|                        | Condensed                Statement of Cash Flows                                                                                  | 6      |
|                        |                                                                                                                              |   |
|                        | Notes                to Financial Statements                                                                                      | 7      |
|                        |                                                                                                                              |   |
|                        | Item                2. Management’s Discussion and Analysis of Financial Condition and Results                of Operations | 10     |
|                        |                                                                                                                              |   |
|                        | Item                3. Quantitative and Qualitative Disclosures About Market Risk                                                 | 12     |
|                        |                                                                                                                              |   |
|                        | Item                4. Controls and Procedures                                                                                    | 12     |
|                        |                                                                                                                              |   |
| **Part                II.** | **Other                Information**                                                                                              |   |
|                        |                                                                                                                              |   |
|                        | Item                1. Legal Proceedings                                                                                          | 13     |
|                        |                                                                                                                              |   |
|                        | Item                1A. Risk Factors                                                                                              | 13     |
|                        |                                                                                                                              |   |
|                        | Item                2. Unregistered Sales of Equity Securities and Use of                Proceeds                                 | 13     |
|                        |                                                                                                                              |   |
|                        | Item                3. Defaults Upon Senior Securities                                                                            | 13     |
|                        |                                                                                                                              |   |
|                        | Item                4. Submission of Matters to a Vote of Security Holders                                                        | 13     |
|                        |                                                                                                                              |   |
|                        | Item                5. Other Information                                                                                          | 13     |
|                        |                                                                                                                              |   |
|                        | Item                6. Exhibits                                                                                                   | 13     |
|                        |                                                                                                                              |   |
| SIGNATURES                  | 14                                                                                                                                |

----

**PART      I - FINANCIAL INFORMATION**

**ITEM      1 - FINANCIAL STATEMENTS (UNAUDITED)**

**Star      Maritime Acquisition Corp**

**Condensed      **
**Balance      Sheet**

|                                                                                                                                                                                                                                                             |   | **June                  30, 2006** |            | **December                  31, 2005** |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------------------------|-----------------|----------------------------------------|--------|
|                                                                                                                                                                                                                                                             |   | **(unaudited)**                    |            | **(audited)**                          |   |
| **ASSETS**                                                                                                                                                                                                                                                       |   |                               |            |                                   |   |
| **Current                  Assets**                                                                                                                                                                                                                              |   |                          |            |                                   |   |
|  Cash                                                                                                                                                                                                                                                       |   | $                                  | 1,032,247       |                                   | $      | 593,281 |   |
|  Investments                  in trust account                                                                                                                                                                                                              |   |                               | 191,071,916     |                                   |   | 188,858,542 |   |
|  Prepaid                  expenses and other current assets                                                                                                                                                                                                 |   |                               | 60,614          |                                   |   | 118,766 |   |
|                                                                                                                                                                                                                                                             |   |                               |            |                                   |   |   |   |
| **Total                  Current Assets**                                                                                                                                                                                                                   |   |                               | 192,164,777     |                                   |   | 189,570,589 |   |
| Other                  Assets-Deferred tax asset                                                                                                                                                                                                            |   |                               | 230,656         |                                   |   | 9,000 |   |
|                                                                                                                                                                                                                                                             |   |                               |            |                                   |   |   |   |
| **TOTAL                  ASSETS**                                                                                                                                                                                                                                |   | **$**                              | **192,395,433** |                                   | **$**  | **189,579,589** |   |
|                                                                                                                                                                                                                                                             |   |                               |            |                                   |   |   |   |
| **LIABILITIES                  & STOCKHOLDERS' EQUITY**                                                                                                                                                                                                      |   |                               |            |                                   |   |   |   |
| **Liabilities**                                                                                                                                                                                                                                             |   |                               |            |                                   |   |   |   |
|  Accounts                  payable and accrued expenses                                                                                                                                                                                                |   | $                                  | 118,512         |                                   | $      | 344,638 |   |
|  Deferred                  Interest on investments                                                                                                                                                                                                          |   |                               | 851,571         |                                   |   |   |   |
|  Deferred                  underwriting fees                                                                                                                                                                                                                |   |                               | 4,000,000       |                                   |   | 4,000,000 |   |
|  Income                  taxes payable                                                                                                                                                                                                                      |   |                               | 545,087         |                                   |   |   |   |
|                                                                                                                                                                                                                                                             |   |                               |            |                                   |   |   |   |
| **Total                  Liabilities**                                                                                                                                                                                                                      |   |                               | 5,515,170       |                                   |   | 4,344,638 |   |
|  Common                  Stock, $.0001 par value, 6,598,000 shares subject to possible redemption,                  at redemption value of $9.80 per share                                                                                                  |   |                               | 64,660,400      |                                   |   | 64,660,400 |   |
| ** **                                                                                                                                                                                                                                                  |   |                               |            |                                   |   |  |   |
| **Commitments                  and Contingencies**                                                                                                                                                                                                               |   |                               |            |                                   |   |   |   |
|                                                                                                                                                                                                                                                             |   |                               |            |                                   |   |   |   |
| **Stockholders'                  Equity**                                                                                                                                                                                                                   |   |                               |            |                                   |   |   |   |
|  Preferred                  Stock, $.0001 par value; authorized, 1,000,000 shares; none issued                  or                  outstanding                                                                                                             |   |                               | -               |                                   |   |   |   |
|  Common                  Stock, $.0001 par value, authorized, 100,000,000 shares; 29,026,924                  shares                  issued and outstanding. (including 6,598,000 shares subject to                  possible                  redemption) |   |                               | 2,903           |                                   |   | 2,903 |   |
|                                                                                                                                                                                                                                                             |   |                               |            |                                   |   |   |   |
|  Additional                  paid in capital                                                                                                                                                                                                                |   |                               | 120,461,317     |                                   |   | 120,461,317 |   |
|                                                                                                                                                                                                                                                             |   |                               |            |                                   |   |   |   |
|  Earnings                  accumulated in the development stage                                                                                                                                                                                             |   |                               | 1,755,643       |                                   |   | 110,331 |   |
| **Total                  Stockholders' Equity**                                                                                                                                                                                                             |   |                               | 122,219,863     |                                   |   | 120,574,551 |   |
|                                                                                                                                                                                                                                                             |   |                               |            |                                   |   |   |   |
| **TOTAL                  LIABILITIES AND STOCKHOLDERS' EQUITY**                                                                                                                                                                                                  |   | **$**                              | **192,395,433** |                                   | **$**  | **189,579,589** |   |

----

**Star        Maritime Acquisition Corp**

**Condensed        **
**Statements        of Income**

|                                                                             |   | **For                      the Three Months Ending June 30, 2006** |       | **For                      the Six Months Ended June 30, 2006** |   | **May                      13, 2005 (date of inception) to June 30, 2005** |   | **May                      13, 2005 (date of inception) to June 30, 2006** |      |
|----------------------------------------------------------------------------------|--------|--------------------------------------------------------------------|------------|-----------------------------------------------------------------|--------|----------------------------------------------------------------------------|--------|----------------------------------------------------------------------------|-----------|
|                                                                             |   | **(unaudited)**                                                    |       | **(unaudited)**                                                 |   | **(unaudited)**                                                            |   | **(unaudited)**                                                            |      |
|                                                                             |   |                                                               |       |                                                            |   |                                                                       |   |                                                                       |      |
| **Formation                      and operating costs**                           |   | $                                                                  | (267,397   | )                                                               | $      | (383,228                                                                   | )      | $                                                                          | (6,770    | ) | $ | (433,439 | ) |
| **Interest                      income**                                         |   |                                                               | 1,372,317  |                                                            |   | 2,366,971                                                                  |   |                                                                       | -         |   |   | 2,550,513 |   |
| **Income/(loss)                      before provision for income tax**           |   |                                                               | 1,104,920  |                                                            |   | 1,983,743                                                                  |   |                                                                       | (6,770    | ) |   | 2,117,074 |   |
| **Provision                      for income taxes**                              |   |                                                               | 316,801    |                                                            |   | 338,431                                                                    |   |                                                                       | -         |   |   | 361,431 |   |
| **Net                      income/(loss)**                                       |   | $                                                                  | 788,119    |                                                            | $      | 1,645,312                                                                  |   | $                                                                          | (6,770    | ) | $ | 1,755,643 |   |
| **Earnings                      per share (basic and diluted)**                  |   | $                                                                  | 0.03       |                                                            | $      | 0.06                                                                       |   | $                                                                          | (0.00     | ) | $ | 0.10 |   |
|                                                                             |   |                                                               |       |                                                            |   |                                                                       |   |                                                                       |      |   |   |   |   |
| **Weighted                      average shares outstanding - basic and diluted** |   |                                                               | 29,026,924 |                                                            |   | 29,026,924                                                                 |   |                                                                       | 9,026,924 |   |   | 18,292,771 |   |

----

**Star        Maritime Acquisition Corp**

**Condensed****      Statements of Stockholders’ Equity**

**(unaudited)**

|                                                                           |   | Common                    Stock |       | Additionalpaid-in |   | Earningsaccumulatedin                            thedevelopment |   | Totalstockholders' |        |
|--------------------------------------------------------------------------------|--------|---------------------------------|------------|-------------------|--------|-----------------------------------------------------------------|--------|--------------------|-------------|
|                                                                           |   | Shares                          |       | Amount            |   | capital                                                         |   | stage              |        | equity |   |
| May                    13, 2005 (inception) to                                 |   |                            |       |              |   |                                                            |   |               |        |   |   |
| June                    30, 2006                                               |   |                            |       |              |   |                                                            |   |               |        |   |   |
|                                                                           |   |                            |       |              |   |                                                            |   |               |        |   |   |
| Stock                    Issuance on May 17, 2005 at $.003 per share           |   |                            | 9,026,924  |              | $      | 903                                                             |   | $                  | 24,097      |   | $ | - |   | $ | 25,000 |   |
|                                                                           |   |                            |       |              |   |                                                            |   |               |        |   |   |   |   |   |   |   |
| Private                    placement issued December 15, 2005 at $10 per share |   |                            | 1,132,500  |              |   | 113                                                             |   |               | 11,324,887  |   |   |   |   |   | 11,325,000 |   |
|                                                                           |   |                            |       |              |   |                                                            |   |               |        |   |   |   |   |   |   |   |
| Common                    shares issued December 21, 2005 at $10 per share     |   |                            | 18,867,500 |              |   | 1,887                                                           |   |               | 188,673,113 |   |   |   |   |   | 188,675,000 |   |
|                                                                           |   |                            |       |              |   |                                                            |   |               |        |   |   |   |   |   |   |   |
| Expenses                    of offerings                                       |   |                            |       |              |   |                                                            |   |               | (14,900,380 | ) |   |   |   |   | (14,900,380 | ) |
|                                                                           |   |                            |       |              |   |                                                            |   |               |        |   |   |   |   |   |   |   |
| Proceeds                    subject to possible conversion of 6,598,000 shares |   |                            |       |              |   |                                                            |   |               | (64,660,400 | ) |   |   |   |   | (64,660,400 | ) |
|                                                                           |   |                            |       |              |   |                                                            |   |               |        |   |   |   |   |   |   |   |
| Net                    Income for the period                                   |   |                            | -          |              |   | -                                                               |   |               | -           |   |   | 110,331 |   |   | 110,331 |   |
|                                                                           |   |                            |       |              |   |                                                            |   |               |        |   |   |   |   |   |   |   |
| Balance,                    December 31, 2005                                  |   |                            | 29,026,924 |              | $      | 2,903                                                           |   | $                  | 120,461,317 |   | $ | 110,331 |   | $ | 120,574,551 |   |
|                                                                           |   |                            |       |              |   |                                                            |   |               |        |   |   |   |   |   |   |   |
| Net                    Income for the three months ended March 31, 2006        |   |                            | -          |              |   | -                                                               |   |               | -           |   |   | 857,193 |   |   | 857,193 |   |
|                                                                           |   |                            |       |              |   |                                                            |   |               |        |   |   |   |   |   |   |   |
| Balance,                    March 31, 2006                                     |   |                            | 29,026,924 |              |   | 2,903                                                           |   |               | 120,461,317 |   |   | 967,524 |   |   | 121,431,744 |   |
|                                                                           |   |                            |       |              |   |                                                            |   |               |        |   |   |   |   |   |   |   |
| Net                    Income for the three months ended June 30, 2006         |   |                            | -          |              |   | -                                                               |   |               | -           |   |   | 788,119 |   |   | 788,119 |   |
|                                                                           |   |                            |       |              |   |                                                            |   |               |        |   |   |   |   |   |   |   |
| Balance,                    June 30, 2006                                      |   | $                               | 29,026,924 |              | $      | 2,903                                                           |   | $                  | 120,461,317 |   | $ | 1,755,643 |   | $ | 122,219,863 |   |

----

**Star          Maritime Acquisition Corp**

**Condensed****      Statements of Cash Flows**

|                                                                                                                                             |   | **Six                    months ended June 30, 2006** |          | **May                    13, 2005 (date of inception) to June 30, 2005** |   | **May                    13, 2005 (date of inception) to June 30, 2006** |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------------------------------|---------------|--------------------------------------------------------------------------|--------|--------------------------------------------------------------------------|--------|
|                                                                                                                                             |   | **(unaudited)**                                       |          | **(unaudited)**                                                          |   | **(unaudited)**                                                          |   |
| **Cash                    flows from operating activities:**                                                                                     |   |                                                  |          |                                                                     |   |                                                                     |   |   |   |   |
| **Net                    Income/(loss)**                                                                                                         |   | $                                                     | 1,645,312     |                                                                     | $      | (6,770                                                                   | )      | $ | 1,755,643 |   |
| **Adjustments                    to reconcile net income(loss) to net cash provided by (used in)                    operating activities:** |   |                                                  |          |                                                                     |   |                                                                     |   |   |   |   |
| Changes                    in operating assets and liabilities:                                                                             |   |                                                  |          |                                                                     |   |                                                                     |   |   |   |   |
| Increase                    in value of trust account                                                                                       |   |                                                  | (2,213,374    | )                                                                        |   | -                                                                        |   |   | (2,396,916 | ) |
| Decrease/(increase)                    in prepaid expenses and other current assets                                                              |   |                                                  | 58,152        |                                                                     |   | (272,979                                                                 | )      |   | (60,613 | ) |
| Increase                    in deferred tax asset                                                                                           |   |                                                  | (221,656      | )                                                                        |   |  -                                                                  |   |   | (230,656 | ) |
| Increase/(Decrease)                    in accounts payable and accrued expenses                                                             |   |                                                  | (226,126      | )                                                                        |   | 23,802                                                                   |   |   | (52,074 | ) |
| Increase                    in deferred interest                                                                                            |   |                                                  | 851,571       |                                                                     |   | -                                                                        |   |   | 851,571 |   |
| Increase                    in taxes payable                                                                                                |   |                                                  | 545,087       |                                                                     |   | -                                                                        |   |   | 545,087 |   |
|                                                                                                                                                  |   |                                                  |          |                                                                     |   |                                                                     |   |   |   |   |
| **Net                    cash provided by (used in) operating activities**                                                                       |   |                                                  | 438,966       |                                                                     |   | (255,947                                                                 | )      |   | 412,042 |   |
| **Cash                    flows from investing activites:**                                                                                      |   |                                                  |          |                                                                     |   |                                                                     |   |   |   |   |
| Payment                    to trust account                                                                                                 |   |                                                  | -             |                                                                     |   | -                                                                        |   |   | (188,675,000 | ) |
| **Net                    cash used in investing activities**                                                                                     |   |                                                  | -             |                                                                     |   | -                                                                        |   |   | (188,675,000 | ) |
| **Cash                    flows from financing activites:**                                                                                      |   |                                                  |          |                                                                     |   |                                                                     |   |   |   |   |
| Gross                    proceeds from public offering                                                                                      |   |                                                  |          |                                                                     |   |                                                                     |   |   | 188,675,000 |   |
| Gross                    proceeds from private offering                                                                                     |   |                                                  |          |                                                                     |   |                                                                     |   |   | 11,325,000 |   |
| Proceeds                    of note payable to stockholder                                                                                  |   |                                                  | -             |                                                                     |   | 390,000                                                                  |   |   | 590,000 |   |
| Repayment                    of note payable to stockholder                                                                                 |   |                                                  | -             |                                                                     |   | -                                                                        |   |   | (590,000 | ) |
| Proceeds                    from sale of shares of common stock                                                                             |   |                                                  | -             |                                                                     |   | 25,000                                                                   |   |   | 25,000 |   |
| Payment                    of offering costs                                                                                                |   |                                                  | -             |                                                                     |   | -                                                                        |   |   | (10,729,795 | ) |
| **Net                    cash provided by financing activities**                                                                                 |   |                                                  | -             |                                                                     |   | 415,000                                                                  |   |   | 189,295,205 |   |
| **Net                    cash increase for period**                                                                                              |   |                                                  | 438,966       |                                                                     |   | 159,053                                                                  |   |   | 1,032,247 |   |
| **Cash,                    beginning of period**                                                                                                 |   |                                                  | 593,281       |                                                                     |   | -                                                                        |   |   | - |   |
| **Cash                    at end of period**                                                                                                     |   | **$**                                                 | **1,032,247** |                                                                     | **$**  | **159,053**                                                              |   | **$** | **1,032,247** |   |
| **Supplemental                    cash disclosure**                                                                                              |   |                                                  |          |                                                                     |   |                                                                     |   |   |   |   |
| Interest                    paid                                                                                                            |   | $                                                     | -             |                                                                     | $      | -                                                                        |   | $ | 9,163 |   |
| **Supplemental                    schedule of non-cash financial activities**                                                                    |   |                                                  |          |                                                                     |   |                                                                     |   |   |   |   |
| Accrual                    of deferred underwriting fees                                                                                    |   | $                                                     | -             |                                                                     | $      | -                                                                        |   | $ | 4,000,000 |   |
| Accrual                    of offering costs                                                                                                |   | $                                                     | -             |                                                                     | $      | -                                                                        |   | $ | 170,585 |   |

----

**Star      Maritime Acquisition Corporation**

**Notes        to Unaudited Financial Statements — (Continued)**

**NOTE        A — ORGANIZATION AND PROPOSED BUSINESS OPERATIONS**

*Nature        of Operations*

**$226,500**

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**Star          Maritime Acquisition Corporation**

**Notes            to Unaudited Financial Statements — (Continued)**

**Note        B - Recent Accounting Pro**
**nouncements**

----

**Star        Maritime Acquisition Corporation**

**Notes            to Unaudited Financial Statements —(Continued)**

**NOTE        C—COMMITMENTS**

**NOTE        D—COMMON STOCK RESERVED FOR ISSUANCE**

**Note        E - Preferred Stock**

----

**ITEM        2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS        OF        OPERATIONS**

**Forward        Looking Statements **

**Overview        **

**Critical        Accounting Policies**

**Results        of Operations for the Period April 1, 2006 to June 30, 2006**

**Results        of Operations for the Period January 1, 2006 to June 30, 2006**

----

**Liquidity            and Capital Resources.**

----

**Off-Balance        Sheet Arrangements **

**Contractual        Obligations.**

**ITEM        3.**
**QUANTITATIVE        AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK**

**ITEM        4. CONTROLS AND PROCEDURES**

----

**PART          II - OTHER INFORMATION**

**ITEM        1. LEGAL PROCEEDINGS**

**ITEM        1A. RISK FACTORS**

**If          we liquidate, the procedures we must follow under Delaware law are          time-consuming and may result in residual liability for our          stockholders**

**We          may choose to redeem our outstanding warrants at a time that is          disadvantageous to our warrant holders.**

|   | · | to                    exercise the warrants and pay the exercise price therefor at a time                    when it may be disadvantageous for the holders to do                    so, |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | to                    sell the warrants at the then current market price when they might                    otherwise wish to hold the warrants,                    or |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | to                    accept the nominal redemption price which, at the time the warrants                    are called for redemption, is likely to be substantially less than                    the market value of                    the warrants. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**Our          warrant holders may not be able to exercise their warrants, which may create          liability for us.**

and          in          which there is no exemption will be unable to exercise their warrants and          would either have to sell their warrants in the open market or allow them          to expire unexercised. If and when the warrants become redeemable by us, we          may exercise our redemption right even if we are unable to qualify the          underlying securities for sale under all applicable state securities laws.          Since our obligations in this regard are subject to a “best efforts” standard,          it is possible that, even if we are able to successfully assert a defense          to a          claim by warrant holders due to impossibility, a court may impose monetary          damages on us to compensate warrant holders due to the change in circumstances          that led to us being unable to fulfill our obligations.

**ITEM        2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF        PROCEEDS**

**ITEM        3. DEFAULTS UPON SENIOR SECURITIES**

**ITEM        4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS**

**ITEM        5. OTHER INFORMATION**

**ITEM          6. EXHIBITS**

|                               |   |                                                                                                                                                                                                                                                                                                                                        |
|------------------------------------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| **Exhibit                    No.** |   | **Description**                                                                                                                                                                                                                                                                                                                             |
| 31.1                               |   | Certification                    of the Chief Executive Officer (Principal Executive Officer)                    pursuant to                    Rule 13a-14(a) of                    the Securities Exchange Act, as amended                                                                                                      |
| 31.2                               |   | Certification                    of the Chief Financial Officer and (Principal Accounting Officer)                    pursuant                    to Rule 13a-14(a) of                    the Securities Exchange Act, as amended                                                                                                 |
| 32.1                               |   | Certification                    of the Chief Executive Officer (Principal Executive Officer)                    and Chief                    Financial Officer (Principal Accounting Officer) pursuant to18                    U.S.C. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley                    Act of 2002 . |

----

**SIGNATURES**

|                                |                                                                                                                                                 |                            |
|-------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------|
|                                | STAR                MARITIME ACQUISITION CORPORATION                                                                                                 |
|                           |                                                                                                                                            |                       |
| August 16,                2006 | By:                                                                                                                                        | /s/ Prokopios (Akis) Tsirigakis |
|                                | Prokopios                (Akis) TsirigakisChairman,                Chief Executive Officer and President(Principal Executive                Officer) |
|                                |                                                                                                                                                 |

|         |                                                                                      |                   |
|--------------|-------------------------------------------------------------------------------------------|------------------------|
|         |                                                                                      |
|    |                                                                                 |              |
|         | By:                                                                             | /s/ George Syllantavos |
|         | George SyllantavosChief                  Financial Officer (Principal Accounting Officer) |
|         |                                                                                      |

----