XML 9 R2.htm IDEA: XBRL DOCUMENT v3.21.2
Unaudited Interim Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2021
Dec. 31, 2020
CURRENT ASSETS:    
Cash and cash equivalents $ 8,393 $ 19,328
Trade accounts receivable 57 0
Prepayments and other 653 904
Inventories 671 514
Vessels held for sale (Note 4c) 25,887 24,340
Total current assets 35,661 45,086
FIXED ASSETS:    
Advances for vessels under construction (Note 4a) 3,200 31,654
Vessels, net (Note 4b) 232,552 136,292
Right of use assets from operating leases (Note 6) 41,280 45,222
Other fixed assets, net 539 548
Total fixed assets 277,571 213,716
OTHER NON CURRENT ASSETS:    
Restricted cash (Note 7) 4,000 4,000
Investments in unconsolidated joint ventures 25,426 28,230
Investments in affiliates (Note 1) 8,425 0
Deposit asset 2,000 2,000
Total other non-current assets 39,851 34,230
Total assets 353,083 293,032
CURRENT LIABILITIES:    
Current portion of long-term debt (Note 7) 10,061 5,324
Debt related to vessels held for sale (Note 7) 19,314 0
Due to related parties (Note 5) 6,189 5,159
Accounts payable 2,535 2,544
Accrued liabilities 1,382 959
Unearned revenue 3,976 2,074
Current portion of derivative financial instruments (Note 11) 0 66
Current portion of Operating lease liabilities (Note 6) 9,601 9,288
Total current liabilities 53,058 25,414
NON-CURRENT LIABILITIES:    
Non-current portion of long term debt (Note 7) 145,711 99,295
Non-current portion of Operating lease liabilities (Note 6) 28,864 33,805
Other non-current liabilities 275 300
Total non-current liabilities 174,850 133,400
Total liabilities 227,908 158,814
MEZZANINE EQUITY:    
Preferred stock; 11,264 Series E Shares issued and outstanding at December 31, 2020 and June 30, 2021 with $0.01 par value (Note 12) 13,517 13,517
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, 2020 and June 30, 2021 1 1
Common stock, $0.01 par value; 1,000,000,000 shares authorized; 39,831,972 shares issued and outstanding at December 31, 2020 and June 30, 2021 398 398
Additional paid-in capital 454,947 465,672
Accumulated deficit (343,688) (345,370)
Total stockholders’ equity 111,658 120,701
Total liabilities, mezzanine equity and stockholders’ equity 353,083 293,032
Series E Preferred Stock [Member]    
MEZZANINE EQUITY:    
Preferred stock; 11,264 Series E Shares issued and outstanding at December 31, 2020 and June 30, 2021 with $0.01 par value (Note 12) $ 13,517 $ 13,517