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Unaudited Interim Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2019
Dec. 31, 2018
CURRENT ASSETS:    
Cash and cash equivalents $ 2,654 $ 57
Trade accounts receivable 1,064 815
Prepayments and other 1,715 808
Due from related party 75
Inventories 923 587
Prepaid bareboat charter hire 1,656
Restricted cash 907 1,290
Total current assets 7,263 5,288
FIXED ASSETS:    
Advances for vessels under construction (Note 4) 38,744
Vessels, net (Note 4) 364,550 180,635
Right of use assets from operating leases* 18,717
Other fixed assets, net 667 669
Total fixed assets 383,934 220,048
OTHER NON CURRENT ASSETS:    
Prepaid bareboat charter hire 3,621
Restricted cash 9,196 6,315
Investments in unconsolidated joint ventures (Note 13) 22,488 22,063
Derivative financial instruments (Note 11) 165 1,153
Total non-current assets 31,849 33,152
Total assets 423,046 258,488
CURRENT LIABILITIES:    
Current portion of long-term debt (Note 7) 27,169 10,210
Short-term debt (Note 7) 13,416
Due to related parties 689 4,223
Accounts payable 5,909 4,098
Accrued liabilities 4,129 2,957
Unearned revenue 4,175
Current portion of Operating lease liabilities 4,985
Current portion of derivative financial instruments (Note 11) 281 1,915
Total current liabilities 47,337 36,819
NON-CURRENT LIABILITIES:    
Non-current portion of long term debt (Note 7) 239,073 101,358
Long term debt from related party (Note 7) 15,671
Non-current portion of Operating lease liabilities 9,283
Non-current portion of derivative financial instruments (Note 11) 1,257 359
Total non-current liabilities 249,613 117,388
COMMITMENTS AND CONTINGENCIES (Note 8)
Total liabilities 296,950 154,207
MEZZANINE EQUITY:    
Preferred stock; 0 and 28,158 Series E Shares issued and outstanding at December 31, 2018 and June 30, 2019 with $0.01 par value (refer to Mezzanine Equity - Note 12) 32,381
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, 2018 and 100,000 Series D shares and 28,158 Series E Shares were issued and outstanding at June 30, 2019 (refer to Mezzanine Equity - Note 12) 1 1
Common stock, $0.01 par value; 1,000,000,000 shares authorized; 1,150,873 and 1,542,355 shares issued and outstanding at December 31, 2018 and June 30, 2019 (Note 9) 15 11
Additional paid-in capital 403,494 412,048
Accumulated deficit (308,407) (307,779)
Accumulated other comprehensive income (1,388)
Total stockholders’ equity 93,715 104,281
Total liabilities, mezzanine equity and stockholders’ equity $ 423,046 $ 258,488