Top ships inc. (TOPS)
Balance Sheet / Quarterly
Jun'18Dec'17Jun'17Dec'16Jun'16Dec'15Dec'14Jun'14Mar'14Dec'13Dec'12Dec'11Dec'10
CURRENT ASSETS:
Cash and cash equivalents

584

24,081

1,589

127

554

2,668

-

13,643

2,480

9,706

0

-

0

Trade accounts receivable

638

621

20

19

72

107

50

-

-

-

-

2,671

482

Insurance claims

-

-

-

-

-

-

-

-

-

-

-

4

-

Advances to various creditors

-

-

-

-

-

-

-

41

43

38

47

152

95

Prepayments and other

602

428

364

864

1,070

435

828

596

624

518

1,089

1,551

2,183

Due from related parties

-

-

0

34

58

0

25

239

218

-

-

74

-

Inventories

570

645

658

583

478

402

324

390

-

-

-

-

660

Prepaid bareboat charter hire

1,656

1,656

1,656

1,657

1,617

1,657

-

-

-

-

-

-

-

Deferred charges

0

341

-

0

-

-

-

-

-

-

-

-

-

Restricted cash

1,326

1,283

1,270

1,257

-

0

-

-

-

-

-

-

-

Vessel held for sale (Note 6)

-

-

-

-

-

-

-

-

-

-

-

10,414

-

Total current assets

5,376

29,055

5,557

4,541

3,849

5,269

1,227

14,909

3,365

10,262

26,735

14,866

3,420

FIXED ASSETS:
Advances for vessels under construction (Note 4(a))

27,763

6,757

-

0

8,717

25,098

34,375

22,301

33,007

14,400

-

-

-

Vessels, net (Note 4(b))

151,933

154,935

158,007

126,170

95,878

32,044

38,200

38,919

-

-

-

265,019

595,736

Other fixed assets, net

982

1,042

1,101

1,161

1,221

1,333

1,401

1,403

1,432

1,467

1,851

3,161

4,748

Total fixed assets

180,678

162,734

159,108

127,331

105,816

58,475

73,976

62,623

34,439

15,867

179,143

268,180

600,484

OTHER NON CURRENT ASSETS:
Prepaid bareboat charter hire

4,450

5,278

6,107

6,935

7,763

8,512

-

-

-

-

-

-

-

Deferred charges (Note 11)

-

-

-

-

-

-

208

-

-

-

-

-

-

Other long term receivable (Note 19)

-

-

-

-

-

-

-

-

-

-

-

1,841

0

Deferred vessel lease payments (Note 6)

-

-

-

-

-

-

-

-

-

-

-

-

-543

Restricted cash

5,407

5,249

5,092

4,210

4,240

1,750

164

1,294

1,576

1,739

5,537

11,486

17,644

Investments in unconsolidated joint ventures (Note 12)

21,617

17,738

11,200

0

-

-

-

-

-

-

-

-

-

Derivative financial instruments (Note 11)

1,760

394

202

300

-

0

-

-

-

-

-

-

-

Total non-current assets

33,234

28,659

22,601

11,445

12,003

10,262

372

78,826

39,380

1,739

211,415

296,373

622,091

Total assets

219,288

220,448

187,266

143,317

121,668

74,006

75,575

-

-

27,868

-

-

-

CURRENT LIABILITIES:
Current portion of long-term debt (Note 7)

9,126

9,508

9,648

7,995

5,805

1,914

1,412

1,386

-

-

-

171,437

337,377

Short-term debt (Note 7)

16,294

10,183

-

0

-

-

-

-

-

-

-

-

-

Debt from related parties (Note 10)

-

-

-

-

7,050

3,252

-

-

-

-

-

-

-

Debt from related parties (Note 10)

-

-

-

-

-

-

-

-

-

-

-

2,543

-

Debt related to vessel held for sale (Note 10)

-

-

-

-

-

-

-

-

-

-

-

19,769

-

Derivative financial instruments (Note 19)

-

-

-

-

-

-

-

1,134

1,136

1,135

5,811

8,467

12,938

Due to related parties (Note 5)

3,850

120

611

1,108

0

1,575

608

597

-

807

2,150

1,563

1,797

Accounts payable

3,423

2,799

2,088

1,902

2,539

4,940

2,193

2,007

2,134

2,082

3,732

8,156

4,542

Accrued liabilities

2,386

1,985

2,584

2,965

5,802

5,896

5,121

5,272

4,689

4,581

6,659

5,682

4,876

Unearned revenue

521

986

852

1,978

1,516

0

-

-

-

-

-

2,072

5,079

Total current liabilities

35,600

25,581

19,559

20,033

22,712

17,577

9,334

10,396

7,959

8,605

193,630

219,689

366,609

NON-CURRENT LIABILITIES:
Derivative financial instruments (Note 11)

4,491

3,335

2,028

3,563

1,996

3,216

2,599

7,157

280

562

-

-

-

Outstanding amount

-

-

3,776

-

-

-

-

-

-

-

-

-

-

Debt from related parties (Note 7)

920

0

0

4,085

-

-

-

-

-

-

-

-

-

Non-current portion of long term debt (Note 7)

79,606

84,258

89,321

72,459

-

19,060

18,007

18,549

-

-

-

-

-

Non-current portion of debt from related parties (Note 7)

-

-

2,447

-

-

-

-

-

-

-

-

-

-

Non-current portion of long term debt (Note 8)

-

-

-

-

58,372

-

3,106

3,506

3,705

3,906

4,706

-

-

Total non-current liabilities

85,017

87,593

93,796

76,022

60,368

22,276

23,712

29,212

3,985

4,468

4,706

-

-

COMMITMENTS AND CONTINGENCIES (Note 8)

0

0

0

0

0

0

-

-

-

-

-

-

-

Total liabilities

120,617

113,174

113,355

96,055

83,080

39,853

33,046

39,608

11,944

13,073

198,336

219,689

366,609

Preferred stock; 2,106 and 0 Series B shares issued and outstanding at December 31, 2016 and 2017 with $0.01 par value (Note 19)

-

-

369

1,741

-

0

-

-

-

-

-

-

-

STOCKHOLDERS EQUITY:
Preferred stock, $0.01 par value; 20,000,000 shares authorized; of which 100,000 Series D shares were outstanding at December 31, 2017 and June 30, 2018

1

1

0

0

0

0

0

0

0

0

0

0

0

Common stock, $0.01 par value; 1,000,000,000 shares authorized; 8,923,617 and 19,227,962 shares issued and outstanding at December 31, 2017 and June 30, 2018(Note 9)

192

89

86

0

36

21

19

190

83

25

24

171

34

Additional paid-in capital

401,747

402,644

361,411

328,762

322,555

318,425

318,296

318,126

305,982

293,453

293,109

292,583

282,406

Accumulated other comprehensive income

-

-

-

-

-

-

-

-

-

-

-

37

37

Accumulated deficit

-303,269

-296,645

-289,088

-283,241

-284,003

-284,293

-275,786

-279,098

-278,629

-278,683

-280,091

-216,107

-26,995

Total stockholders equity

98,671

106,089

73,542

45,521

38,588

34,153

42,529

39,218

27,436

14,795

13,079

76,684

255,482

Non-controlling Interests

0

1,185

1,133

0

-

-

-

-

-

-

-

-

-

Total equity

98,671

107,274

73,542

45,521

-

-

-

-

-

-

-

-

-

Total liabilities and stockholders equity

219,288

220,448

187,266

143,317

121,668

74,006

75,575

78,826

39,380

27,868

211,415

296,373

622,091