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Condensed Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities:    
Net loss $ (6,689,970) $ (1,291,121)
Adjustments to reconcile net income/(loss) to net cash provided by operating activities:    
Depreciation and amortization 16,293,158 16,192,745
Amortization of financing costs 1,098,827 948,407
Unrealized (gain)/loss on derivatives 2,370,191 4,369,859
Stock-based compensation expense 1,524,217 1,009,798
Gain on early extinguishment of debt (4,117,364)  
Unrealized foreign currency (gain)/loss, net (75,142) 88,067
Other non-cash items 15,689 20,953
Changes in operating assets and liabilities    
Trade receivables, net and accrued revenue 8,300 18,482
Prepaid expenses and other receivables (784,288) (35,827)
Due from related parties 5,015,812 8,830,603
Inventories 122,335 156,030
Other non-current assets (3,410) 608
Trade accounts payable (2,511,722) (212,475)
Accrued expenses and other liabilities 516,824 (198,144)
Due to related parties 22,050 (115,926)
Payments for drydocking costs (395,189)  
Net cash provided by operating activities 12,410,318 29,782,059
Cash flows from investing activities:    
Capital expenditures (276,396) (1,241,220)
Restricted cash deposits (1,000)  
Restricted cash released 32,800,000  
Payments to acquire other fixed assets   (606)
Net cash provided by (used in) investing activities 32,522,604 (1,241,826)
Cash flows from financing activities:    
Proceeds from long-term debt borrowings 97,000,000  
Repayment of long-term debt borrowings (120,738,340) (15,657,054)
Purchase of treasury stock (350,279) (11,853,983)
Financing costs paid (2,541,005) (42,047)
Net cash used in financing activities (26,629,624) (27,553,084)
Effects of exchange rates on cash and cash equivalents 41,195 (77,911)
Net increase in cash and cash equivalents 18,344,493 909,238
Cash and cash equivalents at the beginning of the period 17,018,552 46,411,962
Cash and cash equivalents at the end of the period $ 35,363,045 $ 47,321,200