XML 36 R2.htm IDEA: XBRL DOCUMENT v3.21.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2020
Dec. 31, 2019
CURRENT ASSETS:    
Cash and cash equivalents $ 1,620 $ 1,441
Restricted cash, current portion 535
Inventories 681 501
Trade accounts receivable 672 1,243
Less: Allowance for credit losses (9)
Trade accounts receivable, net 663 1,243
Due from related parties 2,308
Vessel held-for-sale 13,190
Prepayments and other assets 133 325
Total current assets 5,405 17,235
FIXED ASSETS, NET:    
Vessels, net 83,774 87,507
Total fixed assets, net 83,774 87,507
OTHER NON-CURRENT ASSETS:    
Restricted cash, net of current portion 2,417 3,200
Financial derivative instrument 1
Deferred charges, net 1,594 779
Prepayments and other assets 47
Total other non-current assets 4,011 4,027
Total assets 93,190 108,769
CURRENT LIABILITIES:    
Current portion of long-term debt, net of deferred financing costs 3,255 8,984
Trade accounts payable 3,642 4,538
Due to related parties 6,849
Hire collected in advance 726 1,415
Accrued and other liabilities 677 750
Total current liabilities 8,300 22,536
NON-CURRENT LIABILITIES:    
Long-term debt, net of current portion and deferred financing costs, non-current 50,331 49,233
Promissory note 5,000 5,000
Total non-current liabilities 55,331 54,233
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY:    
Preferred stock ($0.001 par value; 50,000,000 shares authorized of which 1,000,000 authorized Series A Convertible Preferred Shares; 0 and 181,475 Series A Convertible Preferred Shares issued and outstanding as at December 31, 2019 and 2020, respectively)
Common stock ($0.001 par value; 450,000,000 shares authorized; 21,370,280 and 21,962,881 shares issued and outstanding as at December 31, 2019 and 2020, respectively) 22 21
Additional paid-in capital 79,692 75,154
Accumulated deficit (50,155) (43,175)
Total stockholders' equity 29,559 32,000
Total liabilities and stockholders' equity $ 93,190 $ 108,769