XML 71 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 $ 19,328 $ 4,412
Trade accounts receivable 0 642
Prepayments and other 904 628
Inventories 514 848
Assets held for sale (Note 4c, 14 and 19) 24,340 43,271
Non-current portion of derivative financial instruments (Note 14) 0 82
Restricted cash (Note 7) 0 859
Total current assets 45,086 50,742
FIXED ASSETS:    
Advances for vessels under construction (Note 4a) 31,654 12,241
Vessels, net (Note 4b) 136,292 353,946
Right of use assets from operating leases (Note 6) 45,222 0
Other fixed assets, net 548 655
Total fixed assets 213,716 366,842
OTHER NON CURRENT ASSETS:    
Restricted cash (Note 6 and 7) 4,000 8,000
Investments in unconsolidated joint ventures (Note 17) 28,230 19,306
Deposit asset (Note 19) 2,000 0
Total non-current assets 34,230 27,306
Total assets 293,032 444,890
CURRENT LIABILITIES:    
Current portion of long-term debt (Note 7) 5,324 16,908
Debt related to vessels held for sale (Note 7) 0 29,977
Due to related parties (Note 5) 5,159 16,592
Accounts payable 2,544 4,460
Accrued liabilities 959 4,030
Unearned revenue 2,074 3,337
Current portion of derivative financial instruments (Note 14) 66 113
Short-term lease liability 9,288 0
Total current liabilities 25,414 75,417
NON-CURRENT LIABILITIES:    
Non-current portion of long term debt (Note 7) 99,295 262,122
Long-term lease liability 33,805 0
Non-current portion of derivative financial instruments (Note 14) 0 1,594
Other non-current liabilities 300 0
Total non-current liabilities 133,400 263,716
COMMITMENTS AND CONTINGENCIES (Note 8) 0 0
Total liabilities 158,814 339,133
MEZZANINE EQUITY:    
Preferred stock; 15,724 and 11,264 Series E Shares issued and outstanding at December 31, 2019 and 2020 with $0.01 par value (Note 16) 13,517 18,083
STOCKHOLDERS’ EQUITY:    
Preferred stock, $0.01 par value; 20,000,000 shares authorized; of which 100,000 Series D shares were outstanding at December 31, 2019 and 2020 (Note 9) 1 1
Common stock, $0.01 par value; 1,000,000,000 shares authorized; 347,813 and 39,831,972 shares issued and outstanding at December 31, 2019 and 2020 (Note 9) 398 3
Additional paid-in capital 465,672 411,583
Accumulated deficit (345,370) (322,552)
Accumulated other comprehensive income 0 (1,361)
Total stockholders’ equity 120,701 87,674
Total liabilities, mezzanine equity and stockholders’ equity 293,032 444,890
Series E Preferred Stock [Member]    
MEZZANINE EQUITY:    
Preferred stock; 15,724 and 11,264 Series E Shares issued and outstanding at December 31, 2019 and 2020 with $0.01 par value (Note 16) $ 13,517 $ 18,083