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Condensed Interim Consolidated Balance Sheets - USD ($)
Mar. 31, 2017
Dec. 31, 2016
Current assets    
Cash and cash equivalents $ 45,239,647 $ 55,952,873
Receivables, trade 26,815,143 23,148,782
Working capital advances 3,450,000 3,300,000
Prepayments 1,060,594 803,003
Advances and deposits 4,071,948 3,136,362
Other receivables 0 82,636
Inventories 7,970,981 7,339,252
Total current assets 88,608,313 93,762,908
Non-current assets    
Vessels and vessel equipment, net 777,204,873 785,461,415
Deferred dry dock expenditure, net 2,865,323 3,232,293
Leasehold improvements 487,265 488,561
Other non-current assets, net 676,986 697,546
Total non-current assets 781,234,447 789,879,815
TOTAL ASSETS 869,842,760 883,642,723
Current liabilities    
Payables, trade 13,988,584 14,448,043
Charter revenue received in advance 0 507,780
Other payables 19,854 5,354
Accrued interest on loans 2,016,774 2,067,991
Current portion of long-term debt 41,575,142 41,827,480
Current portion of capital lease obligations 298,343 159,028
Total current liabilities 57,898,697 59,015,676
Non-current liabilities    
Non-current portion of long-term debt 400,948,674 411,385,626
Non-current portion of capital lease obligations 8,778,519 8,971,622
Total non-current liabilities 409,727,193 420,357,248
Equity    
Share capital 340,613 340,613
Additional paid in capital 405,393,519 405,279,257
Treasury stock (4,272,477) (4,272,477)
Accumulated surplus 755,215 2,922,406
Total equity 402,216,870 404,269,799
TOTAL LIABILITIES AND EQUITY $ 869,842,760 $ 883,642,723