DryShips (NASDAQ: DRYS) reported its first-quarter results after the closing bell on Wednesday. That said, those results were buried deeply within its press release because the company didn’t want them to overshadow what it is becoming. That’s probably because the first quarter was another disaster for the company after it spent nearly $2 for every $1 of revenue it took in, and that doesn’t even factor in the boatload of cash that went out the door to buy more boats.