Paragon Shipping Inc. announced unaudited consolidated earnings results for first quarter ended Mar. 31, 2014. For the quarter, the company reported net revenue of $13,429,000, operating loss of $20,622,000, net loss of $25,885,000 or $1.24 per basic and diluted share, adjusted net loss available to common shareholders of $6,388,000 or $0.31 per basic and diluted share, adjusted EBITDA of $333,000 compared to the net revenue of $13,453,000, operating loss of $2,021,000, net loss of $3,511,000 or $0.32 per basic and diluted share, adjusted net loss available to common shareholders of $2,843,000 or $0.26 per basic and diluted share, adjusted EBITDA of $3,182,000 for the same quarter a year ago.