Deferred Charges, Net (Predecessor)

12 Months Ended

Mar. 31, 2016

Deferred Charges, Net

9. Deferred Charges, Net

The analysis and movement of deferred charges is presented in the table below:

	Financing		Drydocking		Equity		Total deferred
	costs		costs		offering costs		charges, net
Balance, April 1, 2014	$	716,040	$	535,291	$	1,304,343	$	2,555,674
Additions		13,411,075		323,623		760,680		14,495,378
Amortization		(830,899)		(189,209)		—		(1,020,108)
Transferred to APIC		—		—		(2,065,023)		(2,065,023)
Balance, March 31, 2015		13,296,216		669,705		—		13,965,921
Additions		12,951,085		—		—		12,951,085
Amortization		(2,499,185)		(374,770)		—		(2,873,955)
Balance, March 31, 2016	$	23,748,116	$	294,935	$	—	$	24,043,051

The drydocking costs incurred during the year ended March 31, 2015 relate to the drydocking for Grendon.

Financing costs incurred during the year ended March 31, 2016 and 2015 relate to the 2015 Debt Facility as further described in Note 11.

Offering costs related to our IPO were transferred to additional paid in capital (“APIC”) on completion of our IPO on May 13, 2014.

Predecessor

Deferred Charges, Net

5. Deferred Charges, Net

The deferred charges comprised of the following:

	Financing		Drydocking
	costs		costs		Total
April 1, 2013	$	262,355	$	949,508	$	1,211,863
Amortization		(15,437)		(116,038)		(131,475)
July 28, 2013	$	246,918	$	833,470	$	1,080,388