Euroseas ltd. (ESEA)
Balance Sheet / TTM
Jun'18Dec'17Jun'17Mar'17Dec'16Sep'16Dec'15Jun'15Dec'14Jun'14Dec'13Jun'13Dec'12Dec'11Dec'10
Current assets
Cash and cash equivalents

9,099

2,858

5,243

10,837

3,208

1,728

8,715

15,667

25,411

38,384

11,400

23,129

33,374

31,204

34,273

Trade accounts receivable, net

940

885

1,198

1,142

1,432

797

1,408

1,204

2,189

535

1,879

2,308

1,425

1,370

1,563

Other receivables

1,007

965

1,123

1,314

870

17,598

1,231

679

844

1,015

1,440

1,620

2,310

2,324

6,693

Inventories

1,104

1,193

1,366

1,045

1,291

1,347

1,464

1,463

1,758

1,950

1,474

1,920

1,812

2,606

1,788

Restricted cash

119

1,103

1,511

-

655

-

-

-

-

-

-

-

-

-

-

Restricted cash

-

-

-

937

-

1,889

5,916

291

294

294

462

921

926

870

976

Due from related companies

-

-

-

7

-

-

-

-

-

-

-

-

-

-

-

Trading securities

-

-

-

-

-

-

-

-

-

-

-

-

-

27

263

Derivatives

-

-

-

-

-

-

-

-

-

-

-

-

-

-

574

Prepaid expenses

301

247

355

375

172

242

175

456

348

325

295

327

273

264

271

Vessels held for sale

0

4,914

-

-

-

-

-

-

-

-

-

-

-

-

-

Total current assets, continuing operations

12,573

12,168

-

-

-

-

-

-

-

-

-

-

-

-

-

Current assets of discontinued operations

0

3,914

-

-

-

-

-

-

-

-

-

-

-

-

-

Vessel held for sale

-

-

0

0

2,814

0

2,671

-

-

-

-

-

-

-

-

Due from related companies

-

-

1,636

-

-

-

-

-

-

-

-

733

4,948

-

-

Total current assets

12,573

16,082

12,435

15,660

10,444

23,602

21,584

19,762

30,847

42,505

16,951

30,961

45,070

38,877

46,404

Fixed assets
Vessels, net

50,425

52,132

126,502

123,883

105,584

114,628

88,957

105,369

111,150

120,962

105,463

191,672

206,934

237,063

255,412

Advances for vessels under construction and vessel acquisition deposits

-

-

2,318

9

17,753

3,847

32,701

22,428

15,687

12,462

50

636

-

-

-

Long-term assets:
Restricted cash

4,334

4,334

6,934

-

5,484

-

-

-

-

-

-

-

-

-

-

Due from spun-off subsidiary

0

24,585

-

-

-

-

-

-

-

-

-

-

-

-

-

Fixed and long-term assets of discontinued operations

0

65,197

-

-

-

-

-

-

-

-

-

-

-

-

-

Restricted cash

-

-

-

6,634

-

5,184

4,550

5,200

7,700

7,700

7,400

10,000

9,000

5,050

4,800

Deferred charges, net

-

-

0

0

426

472

418

673

335

370

338

234

318

697

599

Other investment

-

-

4,000

4,000

4,000

8,421

7,396

6,749

6,183

5,671

5,196

-

-

-

-

Equity Method Investments

-

-

-

-

-

1,105

16,515

17,718

18,674

-

-

-

-

-

-

Investment in joint venture

-

-

-

-

-

-

-

-

-

19,953

21,215

22,341

16,989

14,458

14,461

Total long-term assets

-

-

139,754

134,526

-

133,659

150,540

158,138

159,731

167,120

139,664

224,884

233,242

257,270

275,272

Total assets

67,332

162,331

152,190

150,187

143,693

157,262

172,124

177,901

190,578

209,625

156,616

255,846

278,312

296,148

321,677

Liabilities, mezzanine equity and shareholders equity
Long-term bank loans, current portion

3,199

4,203

11,149

11,221

5,549

5,317

14,685

18,556

19,512

14,617

12,862

17,612

15,937

13,332

13,472

Trade accounts payable

1,618

1,522

-

-

-

-

-

-

-

-

-

-

-

-

-

Loan from related party

-

-

0

-

2,000

-

-

-

-

-

-

-

-

-

-

Trade accounts payable

-

-

3,472

3,696

1,864

2,913

1,394

4,298

2,369

-

-

-

-

-

-

Trade accounts payable

-

-

-

-

-

-

-

-

-

4,135

2,336

3,278

2,438

1,886

3,950

Accrued expenses

1,692

1,117

-

-

1,312

-

1,203

-

1,060

1,534

1,002

882

1,143

1,659

2,212

Accrued dividends

-

-

-

-

-

-

-

-

-

13

13

55

36

47

32

Deferred revenues

510

590

1,146

569

437

778

462

730

803

1,544

996

880

1,093

2,268

2,114

Loan from related party

-

-

-

0

-

139

322

558

1,145

1,025

903

-

-

-

-

Due to related company

-

-

-

0

-

-

322

558

1,145

1,025

903

-

-

-

-

Derivative

60

229

88

-

0

0

50

147

297

501

697

1,273

1,718

1,907

1,837

Due to related company

8,642

4,986

0

-

11

-

-

-

-

-

-

-

-

-208

1,594

Total current liabilities, continuing operations

15,723

12,649

-

-

-

-

-

-

-

-

-

-

-

-

-

Current liabilities of discontinued operations

0

5,885

-

-

-

0

1,122

-

-

-

-

-

-

-

-

Total current liabilities

15,723

18,534

15,857

15,487

11,174

9,149

19,241

24,291

25,190

23,371

18,812

23,981

22,367

21,101

25,214

Long-term liabilities
Long-term bank loans, net of current portion

27,440

29,811

50,513

48,252

44,366

47,010

25,552

31,265

34,745

44,821

32,782

36,513

45,644

61,581

74,913

Derivative

43

16

183

235

240

358

202

187

0

174

319

237

675

1,544

1,537

Vessel profit participation liability

2,005

1,297

487

-

0

-

-

-

-

-

-

-

-

-

-

Total long-term liabilities, continuing operations

29,489

31,124

-

-

-

-

-

-

-

-

-

-

-

-

-

Long-term liabilities of discontinued operations

0

30,364

-

-

-

-

-

-

-

-

-

-

-

-

-

Fair value of below market time charters acquired

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,318

Total long-term liabilities

29,489

61,489

51,185

48,487

44,607

47,368

25,755

31,452

34,745

44,995

33,101

36,750

46,319

63,125

77,768

Total liabilities

45,213

80,023

67,042

63,975

55,781

56,518

44,996

55,743

59,936

68,367

51,914

60,731

68,686

84,226

102,982

Commitments and Contingencies

0

0

0

0

0

0

0

0

-

-

0

-

-

-

0

Mezzanine Equity
Preferred shares (par value $0.01, 20,000,000 preferred shares authorized, 37,314 and 19,122 issued and outstanding, respectively)

18,272

35,613

34,690

34,242

33,804

33,363

32,079

31,248

30,440

29,651

0

0

0

0

0

Shareholders equity
Common stock (par value $0.03, 200,000,000 shares authorized, 11,274,126 issued and outstanding)

338

338

335

335

326

246

245

173

171

1,706

1,371

1,359

1,359

935

930

Additional paid-in capital

231,811

284,236

284,210

284,238

283,757

279,040

278,833

268,594

268,374

266,766

252,314

252,125

251,758

236,843

236,279

Accumulated deficit

-228,302

-237,880

-234,088

-232,604

-229,977

-211,906

-184,030

-177,858

-168,343

-156,865

-148,984

-58,371

-43,491

-25,856

-18,515

Total shareholders equity

3,847

46,694

50,456

51,969

54,106

67,381

95,048

90,909

100,202

111,606

104,702

195,114

209,626

211,921

218,694

Total liabilities, mezzanine equity and shareholders equity

67,332

162,331

152,190

150,187

143,693

157,262

172,124

177,901

190,578

209,625

156,616

255,846

278,312

296,148

321,677