XML 18 R7.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
10 Months Ended 12 Months Ended
Sep. 30, 2017
Sep. 30, 2018
Cash Flows from Operating Activities:    
Net income $ 878,644 $ 980,938
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 182,346 637,611
Changes in operating assets and liabilities:    
Accounts receivable trade (342,605) 340,152
Inventories (46,586) (14,111)
Due from related party (96,264) (166,815)
Prepaid expenses and other current assets (29,060) (15,537)
Accounts payable 105,104 (71,621)
Accrued liabilities 119,170 (3,437)
Deferred dry-docking expenses 0 (784,474)
Net Cash provided by Operating Activities 770,749 902,706
Cash Flows used in Investing Activities:    
Purchase of vessel (7,549,281) 0
Net cash used in Investing Activities (7,549,281) 0
Cash Flows provided by Financing Activities:    
Shareholders' contribution 7,615,000 0
Net cash provided by Financing Activities 7,615,000 0
Net increase in cash and cash equivalents 836,468 902,706
Cash and cash equivalents beginning of the period 0 836,468
Cash and cash equivalents at the end of the period/year 836,468 1,739,174
Non cash Financing Activities    
Deemed contribution relating to issuance of preferred shares $ 2,740,000 $ 0