Investor Presentaiton
Statement of Operations (USD)
Statement of Operations Data
Revenues
Voyage expenses
Charter hire expenses
Three Months Ended
September 30, 2020
$
(Unaudited)
Three Months Ended
54,710,277
$
(858,919)
(4,518,850)
(21,435,904)
September 30, 2019
(Unaudited)
91,624,875
(855,023)
(2,055,000)
(17,393,685)
Vessel operating expenses
Depreciation and amortization
General and administrative expenses
Other income-related parties
Operating income
(17,202,714)
(16,473,418)
(5,912,810)
(5,895,406)
632,680
314,084
$
5,413,760 $
49,266,427
Interest and finance costs
(6,665,144)
(9,303,373)
Realized gain/(loss) on derivatives
(2,129,695)
Other income/(expenses), net
3,919,029
709,146
39,696
Net Income
$
537,950
$
40,711,896
Other Financial Data
Time charter equivalent rate
Daily vessel operating expenses
Adjusted EBITDA (3)
(1)
$
26,015
$
47,623
(2)
$
10,591
$
8,594
EA
$
22,295,472
$
67,337,351
(1) Our method of calculating time charter equivalent rate is to divide revenue net of voyage expenses by operating days for the relevant time period
(2) Calculated by dividing vessel operating expenses by calendar days for the relevant time period
(3) Represents net income/(loss) before interest and finance costs, unrealized (gain)/loss on derivatives, realized (gain)/loss on interest rate swaps, gain on early extinguishment of debt, stock-based 29
compensation expense, impairment, and depreciation and amortization and is used as a supplemental financial measure by management to assess our financial and operating performanceView entire presentation