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v2.4.0.8

Consolidated Statement of Operations (USD $) | 12 Months Ended
--- | ---
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011
REVENUE |  |  |
Revenues | $ 35,867,356 | $ 25,172,654 | $ 22,375,414
OPERATING EXPENSES |  |  |
Commissions and voyage related costs | 2,523,842 | 789,149 | 468,067
Vessel operating expenses | 18,215,487 | 14,598,071 | 12,186,825
Charter hire costs | 0 | 1,699,943 | 1,663,380
Depreciation | 8,388,208 | 6,195,416 | 5,343,091
Amortization of deferred drydock expenditure | 1,420,814 | 441,491 | 0
General and administrative expenses | 5,669,935 | 2,975,139 | 2,599,031
Total operating expenses | 36,218,286 | 26,699,209 | 22,260,394
(Loss) / profit from operations | (350,930) | (1,526,555) | 115,020
Interest expense and finance costs | (3,464,006) | (2,966,014) | (3,080,472)
Interest income | 6,059 | 4,713 | 3,608
Loss before taxes | (3,808,877) | (4,487,856) | (2,961,844)
Income tax | (33,726) | (51,237) | (13,426)
Net loss | $ (3,842,603) | $ (4,539,093) | $ (2,975,270)
Loss per share, basic and diluted (in dollars per share) | $ (0.31) | $ (0.56) | $ (0.37)
Weighted average number of common shares, basic and diluted | 12,241,599 | 8,049,500 | 8,049,500

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