XML 78 R6.htm IDEA: XBRL DOCUMENT v2.4.1.9
Consolidated Statements of Cash Flows (USD $)
9 Months Ended 12 Months Ended
Mar. 31, 2014
Mar. 31, 2015
Cash flows from operating activities:    
Net income $ 2,833,843us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic $ 25,260,782us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic
Adjustments to reconcile net income to net cash provided by operating activities:    
Impairment   1,431,818us-gaap_AssetImpairmentCharges
Depreciation and amortization 6,620,372us-gaap_DepreciationDepletionAndAmortization 14,093,744us-gaap_DepreciationDepletionAndAmortization
Amortization of financing costs 800,806us-gaap_AmortizationOfFinancingCosts 830,899us-gaap_AmortizationOfFinancingCosts
Unrealized gain on derivatives (2,623,456)us-gaap_UnrealizedGainLossOnDerivatives (1,331,954)us-gaap_UnrealizedGainLossOnDerivatives
Stock-based compensation expense   2,311,565us-gaap_ShareBasedCompensation
Unrealized exchange differences (8,004)us-gaap_ForeignCurrencyTransactionGainLossUnrealized 1,244,394us-gaap_ForeignCurrencyTransactionGainLossUnrealized
Other non-cash items   489,039us-gaap_OtherNoncashIncomeExpense
Changes in operating assets and liabilities    
Trade receivables, net and accrued revenue (1,966,746)us-gaap_IncreaseDecreaseInAccountsReceivable (21,018,670)us-gaap_IncreaseDecreaseInAccountsReceivable
Prepaid expenses and other receivables (343,047)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets (1,437,501)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
Due from related parties (1,639,497)us-gaap_IncreaseDecreaseInDueFromRelatedParties 1,252,754us-gaap_IncreaseDecreaseInDueFromRelatedParties
Inventories 396,776us-gaap_IncreaseDecreaseInInventories (2,317,430)us-gaap_IncreaseDecreaseInInventories
Other non-current assets   (97,446)us-gaap_IncreaseDecreaseInOtherNoncurrentAssets
Trade accounts payable 1,799,616us-gaap_IncreaseDecreaseInAccountsPayable 2,731,828us-gaap_IncreaseDecreaseInAccountsPayable
Accrued expenses and other liabilities 2,043,523us-gaap_IncreaseDecreaseInAccruedLiabilities 2,306,631us-gaap_IncreaseDecreaseInAccruedLiabilities
Due to related parties (292,687)us-gaap_IncreaseDecreaseInDueToRelatedParties 411,705us-gaap_IncreaseDecreaseInDueToRelatedParties
Payments for drydocking costs (385,077)lpg_IncreaseDecreaseInPaymentsForDrydockingCosts (538,938)lpg_IncreaseDecreaseInPaymentsForDrydockingCosts
Net cash provided by operating activities 7,236,422us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations 25,623,220us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
Cash flows from investing activities:    
Payments for vessels and vessels under construction (172,237,529)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (314,173,298)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
Net payments to acquire predecessor businesses (13,732,896)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired  
Restricted cash deposits (35,448,702)us-gaap_IncreaseInRestrictedCash (28,700,000)us-gaap_IncreaseInRestrictedCash
Restricted cash released   30,938,702us-gaap_DecreaseInRestrictedCash
Payments to acquire other fixed assets (15,597)us-gaap_PaymentsToAcquireProductiveAssets (392,248)us-gaap_PaymentsToAcquireProductiveAssets
Net cash used in investing activities (221,434,724)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations (312,326,844)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
Cash flows from financing activities:    
Proceeds from long-term debt borrowings   80,086,143us-gaap_ProceedsFromIssuanceOfLongTermDebt
Repayment of long-term debt borrowings (6,506,000)us-gaap_RepaymentsOfLongTermDebt (9,612,000)us-gaap_RepaymentsOfLongTermDebt
Financing costs paid (1,516,847)us-gaap_PaymentsOfFinancingCosts (11,220,812)us-gaap_PaymentsOfFinancingCosts
Cash proceeds from common shares issuances 510,496,990us-gaap_ProceedsFromIssuanceOfCommonStock 155,830,178us-gaap_ProceedsFromIssuanceOfCommonStock
Payments relating to issuance costs (9,152,050)us-gaap_PaymentsOfStockIssuanceCosts (1,388,918)us-gaap_PaymentsOfStockIssuanceCosts
Net cash provided by (used in) financing activities 493,322,093us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations 213,694,591us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
Effects of exchange rates on cash and cash equivalents 8,004us-gaap_EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations (1,301,579)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations
Net (decrease)/increase in cash and cash equivalents 279,131,795us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease (74,310,612)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and cash equivalents at the beginning of the period   279,131,795us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash and cash equivalents at the end of the period 279,131,795us-gaap_CashAndCashEquivalentsAtCarryingValue 204,821,183us-gaap_CashAndCashEquivalentsAtCarryingValue
Supplemental disclosure of cash flow information    
Cash paid during the period for interest including interest capitalized to vessels 1,242,500us-gaap_InterestPaid 2,552,893us-gaap_InterestPaid
Non cash consideration of shares issued to acquire Predecessor businesses and acquisitions of assets 187,495,680us-gaap_StockIssued1  
Financing costs included in liabilities   1,039,479lpg_FinancingCostsIncurredButNotYetPaid
Issuance costs included in liabilities   $ 244,414lpg_IssuanceCostsIncurredButNotYetPaid