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CONSOLIDATED STATEMENT OF CASH FLOWS
$ in Thousands
 9 Months Ended
Dec. 31, 2021
USD ($)
Cash Flows from Operating Activities:  
Net income/(loss) $ 134
Adjustments to reconcile net income / (loss) to net cash from operating activities:  
Depreciation 354
(Increase) / Decrease in:  
Accounts receivable, trade 24
Due from a related party (70)
Inventories 23
Prepaid expenses and other assets (460)
Deferred charges (152)
Increase / (Decrease) in:  
Accounts payable, trade and other 263
Due to related parties 59
Accrued liabilities, net of accrued preferred dividends 312
Deferred revenue 228
Net cash provided by / (used in) Operating Activities 715
Cash Flows used in Investing Activities:  
Payments for vessel improvements (Note 4) (42)
Net cash used in Investing Activities (42)
Cash Flows from Financing Activities:  
Proceeds from Spin-Off 1,000
Net cash provided by Financing Activities 1,000
Net increase in cash and cash equivalents 1,673
Cash and cash equivalents at beginning of the year/period 0
Cash and cash equivalents at end of the period 1,673
SUPPLEMENTAL CASH FLOW INFORMATION  
Issuance of common and preferred stock in exchange for entities acquisition $ 47,084