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v3.19.1

Consolidated Statements of Income - USD ($) $ in Thousands | 12 Months Ended
--- | ---
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016
OPERATING REVENUES |  |  |
Time charter revenue | $ 30,890 | $ 35,334 | $ 37,881
Time charter revenue - related party | 126,207 | 123,944 | 128,956
Total operating revenue | 157,097 | 159,278 | 166,837
OPERATING EXPENSES: |  |  |
Vessel operating expenses | 47,584 | 41,098 | 43,757
Vessel operating expenses - related parties | 1,689 | 1,599 | 1,599
Time charter and voyage expenses | 1,352 | 962 | 705
Time charter and voyage expenses - related party | 222 | 0 | 0
Depreciation and amortization | 35,455 | 37,981 | 42,805
Impairment of vessels | 71,834 | 87,624 | 92,422
General and administrative expenses | 9,221 | 5,367 | 6,224
Operating Loss | (10,260) | (15,353) | (20,675)
NON OPERATING INCOME/(EXPENSES) |  |  |
Interest income | 1,425 | 489 | 198
Interest and other finance expenses | (48,686) | (59,413) | (44,788)
Other income, net | 212 | 51 | 216
Total non operating expenses | (47,049) | (58,873) | (44,374)
Loss before income taxes | (57,309) | (74,226) | (65,049)
Income taxes | (55) | (40) | (46)
Net Loss | (57,364) | (74,266) | (65,095)
Earnings allocated to Series B Preferred Shares | (3,062) | (3,062) | (3,062)
Net Loss available to Common Shareholders | $ (60,426) | $ (77,328) | $ (68,157)
Common Class A [Member] |  |  |
Weighted average number of common shares outstanding |  |  |
Basic and diluted | 6,514,390 | 5,996,986 | 5,981,794
Net loss per common share |  |  |
Basic and diluted | $ (7.42) | $ (12.89) | $ (11.39)
Common Class B [Member] |  |  |
Weighted average number of common shares outstanding |  |  |
Basic and diluted | 925,745 | 925,745 | 925,745
Net loss per common share |  |  |
Basic and diluted | $ 0 | $ 0 | $ 0

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