SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13G
(Rule 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULES 13d-1(b)(c), AND (d) AND AMENDMENTS THERETO FILED
PURSUANT TO RULE 13d-2(b)
(Amendment No. )
DryShips Inc.
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(Name of Issuer)
Common Stock, par value $0.01
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(Title of Class of Securities)
Y2109Q101
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(CUSIP Number)
December 31, 2005
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
[_] Rule 13d-1(b)
[_] Rule 13d-1(c)
[X] Rule 13d-1(d)
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(1) The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities
Exchange Act of 1934 or otherwise subject to the liabilities of that
section of the Act but shall be subject to all other provisions of the Act
(however, see the Notes).
CUSIP No. Y2109Q101
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Entrepreneurial Spirit Foundation
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [X]
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Lichtenstein
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5. SOLE VOTING POWER
6. SHARED VOTING POWER
10,780,000
7. SOLE DISPOSITIVE POWER
8. SHARED DISPOSITIVE POWER
10,780,000
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
10,780,000
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[_]
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
35.5%
12. TYPE OF REPORTING PERSON*
OO
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CUSIP No. Y2109Q101
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
George Economou
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [X]
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Greece
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5. SOLE VOTING POWER
6. SHARED VOTING POWER
13,552,000*
7. SOLE DISPOSITIVE POWER
8. SHARED DISPOSITIVE POWER
13,552,000*
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
13,552,000*
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[_]
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
44.7%
12. TYPE OF REPORTING PERSON*
IN
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* Mr. Economou owns 10,780,000 of these shares through the Entrepreneurial
Spirit Foundation. Mr. Economou disclaims beneficial ownership of 2,772,000 of
these shares held of record by Advice Investments S.A., a Liberian corporation,
all of the issued and outstanding capital stock of which is held by Mr.
Economou's wife, Ms. Elisavet Manola of Athens, Greece. Advice Investments S.A.
has filed a separate Schedule 13G with respect to these shares.
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CUSIP No. Y2109Q101
Item 1(a). Name of Issuer:
DryShips Inc.
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Item 1(b). Address of Issuer's Principal Executive Offices:
80 Kifissias Ave.
Amaroussion 15125, Athens, Greece
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Item 2(a). Name of Persons Filing:
Entrepreneurial Spirit Foundation
George Economou
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Item 2(b). Address of Principal Business Office, or if None, Residence:
Entrepreneurial Spirit Foundation:
Heiligkreuz 6
Postfach 484, FL-9490
Vaduz, Liechtenstein
Switzerland
George Economou:
80 Kifissias Ave.
Amaroussion 15125, Athens, Greece
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Item 2(c). Citizenship:
Entrepreneurial Spirit Foundation: Lichtenstein
George Economou: Greece
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Item 2(d). Title of Class of Securities:
Common Stock, par value $0.01
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Item 2(e). CUSIP Number:
Y2109Q101
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Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b)
or (c), Check Whether the Person Filing is a:
(a) [_] Broker or dealer registered under Section 15 of the Exchange Act.
(b) [_] Bank as defined in Section 3(a)(6) of the Exchange Act.
(c) [_] Insurance company as defined in Section 3(a)(19) of the Exchange
Act.
(d) [_] Investment company registered under Section 8 of the Investment
Company Act.
(e) [_] An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E);
(f) [_] An employee benefit plan or endowment fund in accordance with
Rule 13d-1(b)(1)(ii)(F);
(g) [_] A parent holding company or control person in accordance with
Rule 13d-1(b)(1)(ii)(G);
(h) [_] A savings association as defined in Section 3(b) of the Federal
Deposit Insurance Act;
(i) [_] A church plan that is excluded from the definition of an
investment company under Section 3(c)(14) of the Investment
Company Act;
(j) [_] Group, in accordance with Rule 13d-1(b)(1)(ii)(J).
Item 4. Ownership.
Provide the following information regarding the aggregate number and
percentage of the class of securities of the issuer identified in Item 1.
(a) Amount beneficially owned:
10,780,000 shares owned by the Entrepreneurial Spirit Foundation.
13,522,000 shares owned by George Economou. Mr. Economou owns
10,780,000 of these shares through the Entrepreneurial Spirit
Foundation. Mr. Economou disclaims beneficial ownership of 2,772,000
of these shares held of record by Advice Investments S.A., a Liberian
corporation, all of the issued and outstanding capital stock of which
is held by Mr. Economou's wife, Ms. Elisavet Manola of Athens, Greece.
Advice Investments S.A. has filed a separate Schedule 13G with respect
to these shares.
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(b) Percent of class:
35.5 % owned by Entrepreneurial Spirit Foundation
44.7 % owned by George Economou
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(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote
0
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(ii) Shared power to vote or to direct the vote
Entrepreneurial Spirit Foundation: 10,780,000 shares
George Economou: 13,552,000 shares
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(iii) Sole power to dispose or to direct the disposition of
0
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(iv) Shared power to dispose or to direct the disposition of
Entrepreneurial Spirit Foundation: 10,780,000 shares
George Economou: 13,552,000 shares
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Item 5. Ownership of Five Percent or Less of a Class.
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 [ ].
N/A
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Item 6. Ownership of More Than Five Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to
direct the receipt of dividends from, or the proceeds from the sale of, such
securities, a statement to that effect should be included in response to this
item and, if such interest relates to more than five percent of the class, such
person should be identified. A listing of the shareholders of an investment
company registered under the Investment Company Act of 1940 or the beneficiaries
of employee benefit plan, pension fund or endowment fund is not required.
N/A
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Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on by the Parent Holding Company or Control
Person.
If a parent holding company or Control person has filed this schedule,
pursuant to Rule 13d-1(b)(1)(ii)(G), so indicate under Item 3(g) and attach an
exhibit stating the identity and the Item 3 classification of the relevant
subsidiary. If a parent holding company or control person has filed this
schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating
the identification of the relevant subsidiary.
N/A
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Item 8. Identification and Classification of Members of the Group.
If a group has filed this schedule pursuant to s.240.13d-1(b)(1)(ii)(J), so
indicate under Item 3(j) and attach an exhibit stating the identity and Item 3
classification of each member of the group. If a group has filed this schedule
pursuant to s.240.13d-1(c) or s.240.13d-1(d), attach an exhibit stating the
identity of each member of the group.
N/A
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Item 9. Notice of Dissolution of Group.
Notice of dissolution of a group may be furnished as an exhibit stating the
date of the dissolution and that all further filings with respect to
transactions in the security reported on will be filed, if required, by members
of the group, in their individual capacity. See Item 5.
N/A
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Item 10. Certifications.
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were not acquired and are not
held for the purpose of or with the effect of changing or influencing
the control of the issuer of the securities and were not acquired and
are not held in connection with or as a participant in any transaction
having such purpose or effect.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Date: April 10, 2006
ENTREPRENEURIAL SPIRIT FOUNDATION
By: /s/ DR. HERBERT OBERHUBER
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Name: DR. HERBERT OBERHUBER
Title: BOARD MEMBER
By: /s/ DR. PETER MARXER JUN.
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Name: DR. PETER MARXER JUN.
Title: BOARD MEMBER
/s/ GEORGE ECONOMOU
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GEORGE ECONOMOU
Attention. Intentional misstatements or omissions of fact constitute federal
criminal violations (see 18 U.S.C. 1001).
Exhibit 99.1
JOINT FILING AGREEMENT
The undersigned hereby agree that they are filing this statement jointly
pursuant to Rule 13d-1(k)(1). Each of them is responsible for the timely filing
of such Schedule 13G and any amendments thereto, and for the completeness and
accuracy of the information concerning such person contained therein; but none
of them is 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.
In accordance with Rule 13d-1(k)(1) promulgated under the Securities and
Exchange Act of 1934, as amended, the undersigned hereby agree to the joint
filing with each other on behalf of each of them of such a statement on Schedule
13G with respect to the common stock beneficially owned by each of them.
This Joint Filing Agreement shall be included as an exhibit to such
Schedule 13G.
ENTREPRENEURIAL SPIRIT FOUNDATION
By: /s/ DR. HERBERT OBERHUBER
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Name: DR. HERBERT OBERHUBER
Title: BOARD MEMBER
By: /s/ DR. PETER MARXER JUN.
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Name: DR. PETER MARXER JUN.
Title: BOARD MEMBER
/s/ GEORGE ECONOMOU
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GEORGE ECONOMOU
SK 23113 0002 653184 v3