| Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|---|---|---|---|---|---|---|---|
Series C Convertible Preferred Stock [Member] | ||||||||
Stock Issued in Exchange for Converting Debt, Interest & Finance Fees [Member] | ||||||||
Equity Offering of Common Stock to Settle Notes [Member] | ||||||||
(Increase in restricted cash | ||||||||
- | - | - | -1,575 | -2,563 | - | - | - | - |
Cash Flows from Operating Activities: | ||||||||
Net (loss)/ income | ||||||||
-13,372 | 1,052 | -8,507 | - | - | - | - | - | - |
Net income/(loss) | ||||||||
- | - | - | 2,896 | 1,408 | -63,984 | -189,112 | 2,513 | -50,196 |
Vessel depreciation (Note 4) | ||||||||
5,744 | 3,467 | 668 | 757 | - | - | - | - | - |
Other fixed assets depreciation | ||||||||
120 | 121 | 127 | 120 | - | - | - | - | - |
Equity losses in unconsolidated joint ventures | ||||||||
-27 | 0 | 0 | - | - | - | - | - | - |
Non-cash debt conversion expenses | ||||||||
842 | 0 | 0 | - | - | - | - | - | - |
Depreciation (Note 5) | ||||||||
- | - | - | - | 6,763 | 12,510 | 27,156 | 33,864 | 32,466 |
Amortization of Debt Issuance Costs | ||||||||
1,640 | 163 | 538 | 16 | 1,815 | 1,437 | - | 1,946 | 2,539 |
Amortization of debt discount | ||||||||
7,500 | 0 | 0 | - | - | - | - | - | - |
Amortization of debt discount | ||||||||
- | - | - | - | - | 371 | - | 1,464 | - |
Translation gain of foreign currency denominated loan and unrealized foreign exchange differences | ||||||||
- | - | - | -5 | - | -70 | 294 | 159 | - |
Provision for service leaving indemnities | ||||||||
- | - | - | - | -37 | - | - | - | - |
Stock-based compensation expense (Note 12) | ||||||||
-25 | 239 | 131 | 0 | 345 | 378 | 1,412 | 2,024 | 3,467 |
Change in fair value of derivative financial instruments (Note 17) | ||||||||
175 | -682 | -617 | 4,442 | 2,313 | 2,656 | 2,835 | 865 | 2,635 |
Write-off of short term debt (Note 9) | ||||||||
-1,118 | 0 | 0 | - | - | - | - | - | - |
Amortization of deferred gain on sale and leaseback of vessels and write-off of seller's credit | ||||||||
- | - | - | - | - | - | - | - | -7,799 |
Amortization of fair value of below market time charter | ||||||||
- | - | - | - | - | - | - | - | -3,911 |
Loss on sale of other fixed assets | ||||||||
0 | -22 | 0 | -5 | -3 | -178 | -81 | -54 | -165 |
Gain on sale of vessels | ||||||||
- | - | - | - | 14 | - | - | 5,101 | - |
Gain on disposal of subsidiaries (Note 20) | ||||||||
- | - | - | - | 1,591 | - | - | - | - |
Amortization of prepaid bareboat charter hire (Note 6) | ||||||||
1,657 | 1,577 | 1,431 | 0 | - | - | - | - | - |
Impairment on vessel (Note 4) | ||||||||
0 | 0 | 3,081 | 0 | - | 61,484 | - | - | 36,638 |
Other operating income | ||||||||
914 | 3,137 | 0 | - | - | - | - | - | - |
Other operating income | ||||||||
- | - | - | 0 | - | - | - | - | - |
Provision for doubtful accounts | ||||||||
- | - | - | - | - | 256 | - | 160 | 1,017 |
Trade accounts receivable | ||||||||
602 | -88 | 57 | 50 | -384 | -1,281 | 2,189 | 314 | -2,863 |
Insurance claims | ||||||||
- | - | - | - | - | -4 | - | -1,310 | -2,656 |
Deferred vessel lease payments | ||||||||
- | - | - | - | - | - | - | -543 | - |
Insurance claims | ||||||||
- | - | - | - | - | - | - | -1,127 | -2,666 |
Inventories | ||||||||
62 | 181 | 78 | 324 | - | - | - | 171 | -476 |
Advances to various creditors | ||||||||
- | - | - | - | - | -105 | 57 | -308 | -373 |
Prepayments and other | ||||||||
-436 | 429 | -340 | 219 | -580 | -462 | -632 | -243 | -2,340 |
Due from related parties | ||||||||
-34 | 34 | -25 | 25 | - | -74 | - | - | - |
Other long term receivable | ||||||||
- | - | - | - | - | -1,841 | - | - | - |
Due to related parties | ||||||||
-1,034 | 14 | 110 | -445 | -1,343 | 587 | -234 | 1,797 | - |
Accounts payable | ||||||||
-207 | 954 | 114 | -311 | -1,650 | -4,426 | 2,473 | 663 | -5,048 |
Other non-current liabilities | ||||||||
0 | 0 | -430 | -800 | -800 | 4,706 | - | - | - |
Accrued liabilities | ||||||||
1,196 | 128 | 503 | 14 | -480 | -136 | -75 | -658 | -2,474 |
Unearned revenue | ||||||||
-992 | 1,978 | 0 | 0 | - | 587 | -3,007 | -496 | -1,039 |
Net Cash (used in)/ provided by Operating Activities | ||||||||
695 | 6,704 | -1,387 | -2,803 | 3,070 | 15,129 | 15,779 | 35,602 | 6,576 |
Cash Flows from Investing Activities: | ||||||||
Advances for vessels under construction | ||||||||
6,757 | 73,383 | 53,410 | 45,911 | 14,400 | - | - | -511 | 136,678 |
Vessel acquisitions (Note 4) | ||||||||
34,671 | 0 | 0 | 114 | - | 7 | - | 416 | 836 |
Investments in unconsolidated joint ventures (Note 12) | ||||||||
17,639 | 0 | 0 | - | - | - | - | - | - |
Decrease in restricted cash | ||||||||
- | - | - | - | - | -5,949 | - | -4,600 | -30,331 |
Net proceeds from sale of vessels (Note 4) | ||||||||
0 | 0 | 54,152 | 0 | 25,214 | - | - | 19,473 | - |
Net proceeds from disposal of subsidiaries (Note 20) | ||||||||
- | - | - | - | 37,552 | - | - | - | - |
Net proceeds from sale of other fixed assets | ||||||||
0 | 29 | 0 | 0 | 65 | 60 | 35 | 254 | 156 |
Acquisition of other fixed assets | ||||||||
0 | 0 | 6 | - | - | - | - | - | - |
Net Cash used in Investing Activities | ||||||||
-59,067 | -73,354 | 736 | -44,450 | 50,994 | 6,002 | 124,929 | 25,732 | -104,371 |
Cash Flows from Financing Activities: | ||||||||
Proceeds from convertible debt | ||||||||
- | - | - | - | - | - | - | 4,000 | - |
Proceeds from debt (Note 7) | ||||||||
24,849 | 65,385 | 24,450 | 20,125 | - | 500 | - | - | 111,670 |
Proceeds from short-term Notes (Note 7) | ||||||||
68,790 | 0 | 0 | - | - | - | - | - | - |
Proceeds from related party debt (Note 7) | ||||||||
3,148 | 235 | 3,850 | 0 | - | - | - | - | - |
Principal payments of debt (Note 7) | ||||||||
9,546 | 5,085 | 500 | 706 | 11,120 | 16,656 | 27,637 | 40,674 | 44,774 |
Prepayment of debt | ||||||||
0 | 0 | 19,419 | 0 | 27,518 | 4,975 | - | 23,950 | - |
Prepayment of related party debt | ||||||||
7,233 | 0 | 2,250 | 0 | 2,808 | - | - | - | - |
Consideration paid in excess of purchase price over book value of vessels (Note 1) | ||||||||
12,909 | 0 | 0 | - | - | - | - | - | - |
Proceeds from issuance of Series C convertible preferred stock | ||||||||
- | 1,741 | - | 0 | - | - | - | - | - |
Proceeds from warrant exercises | ||||||||
1,567 | 5,765 | 0 | 0 | - | - | - | - | - |
Prepayment of debt | ||||||||
- | - | - | - | - | - | - | - | 9,500 |
Derivative financial instrument termination payments | ||||||||
- | - | - | 1,134 | - | - | - | - | 5,000 |
Proceeds from equity offerings | ||||||||
9,726 | 0 | 0 | 20,191 | - | - | - | -27 | 2,569 |
Equity offerings costs | ||||||||
1,342 | 87 | 237 | 710 | - | - | - | - | - |
Repurchase and cancellation of common stock | ||||||||
- | - | - | - | - | - | - | - | 732 |
Payment of financing costs | ||||||||
1,159 | 388 | 989 | 219 | 2,837 | - | - | 842 | 2,680 |
Net Cash provided by Financing Activities | ||||||||
83,391 | 67,826 | 4,905 | 37,547 | -44,283 | -21,131 | -141,002 | -61,493 | 51,553 |
Net increase/(decrease) in cash and cash equivalents and restricted cash | ||||||||
25,019 | 1,176 | 4,254 | - | - | - | - | - | - |
Net (decrease)/increase in cash and cash equivalents | ||||||||
- | - | - | -9,706 | 9,781 | - | -294 | -159 | -46,242 |
Effect of exchange rate changes on cash | ||||||||
- | - | - | - | -75 | - | - | 159 | - |
SUPPLEMENTAL CASH FLOW INFORMATION | ||||||||
Capital leases | ||||||||
- | - | - | - | - | - | - | - | 0 |
Fair value of below market time charter | ||||||||
- | - | - | - | - | - | - | - | 0 |
Capital expenditures included in Accounts payable/Accrued liabilities | ||||||||
43 | 205 | 1,093 | 435 | - | - | - | 14 | 52 |
Interest paid net of capitalized interest | ||||||||
5,103 | 2,434 | 189 | 284 | 5,621 | 6,837 | - | 11,476 | 16,764 |
Finance fees included in Accounts payable/Accrued liabilities | ||||||||
372 | 67 | 670 | 5 | - | - | - | - | - |
Offering expenses included in liabilities | ||||||||
1,108 | 792 | 515 | 752 | - | - | - | - | - |
Shares issued as consideration for acquisition of vessels (Note 1) | ||||||||
- | - | - | 40,833 | - | - | - | - | - |
Advances to shipyards before acquisition of vessels (Note 1) | ||||||||
- | - | - | 22,087 | - | - | - | - | - |
Shares issued in exchange for converting debt, interest & finance fees | ||||||||
0 | 3,796 | 0 | 0 | - | - | - | - | - |
Beneficial conversion feature of Series B convertible preferred stock (Note 19) | ||||||||
0 | 1,403 | 0 | 0 | - | - | - | - | - |
Deemed dividend for beneficial conversion feature of Series B convertible preferred stock (Note 19) | ||||||||
0 | 1,403 | 0 | 0 | - | - | - | - | - |