ONLINE EQUIVALENT OF SKYGLOBE? SERIES
On March 2, 2021, we issued an additional 10,000 of our Series B Preferred Shares to Goldenmare Limited in return for $130,000.
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Issuance of the Series B preferred shares Management Discussion and Analysis of the Results of Operations Last but not least we are confident that we are well positioned to reap the benefits of a robust market and we believe that our balance sheet is strong enough to support future growth and expansion.” We remain committed at these tough times to support and help our crew on board of our vessels, and to take care of their needs. We remain vigilant to the inefficiencies and issues related to the pandemic that affect trade routes, ports and charterer operations. At the same time, we are evaluating possible vessel candidates in our constant effort for fleet expansion and renewal.ĬOVID-19 continues to significantly affect our market and our operations. We continue to scan the market for financing options that best suit our needs and plans for the future. This quarter was the first quarter that we fully benefited from our previously announced refinancing arrangements as it is indicated in our financing costs stated for the period. We expect short-term fluctuations and generally take into account the volatility involved in market seasonality as we examine market opportunities. We continue to operate on short term spot charters in order to try and fully utilize the market dynamics. We remain optimistic on the supply and demand fundamentals of the market for the near and medium term. We were pleased that the market moved to higher territories and provided rates for our vessels not seen in a long time. “The third quarter of 2021 was pivotal for our company - it signified the return to profit after a prolonged time of depressed market conditions. Weighted Average Age: 10.1 Years as at November 30, 2021Īll our vessels are currently operating on short-term time charters (“on spot”).
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See a later section of this press release for a reconciliation of Daily TCE to Voyage revenues. The basic and diluted weighted average number of shares for the three-month period ended September 30, 2021, was 20,467,086 compared to 1,574,877 shares for the three-month period ended September 30, 2020.ĭaily Time charter equivalent rate (“TCE”) is a measure not in accordance with generally accepted accounting principles (“GAAP”). The basic and diluted weighted average number of shares for the nine-month period ended September 30, 2021, was 12,865,496 compared to 584,158 shares for the nine-month period ended September 30, 2020. See a later section of this press release for a reconciliation of Adjusted EBITDA to total comprehensive loss and net cash used in operating activities, which are the most directly comparable financial measures calculated and presented in accordance with the GAAP measures. The Adjusted EBITDA for 9M2021 increased by about 14.3 million compared to 9M2020.Īs at September 30, 2021, and December 31, 2020, our cash and bank balances and bank deposits (including restricted cash) were $67.9 and $21.1 million, respectively, an increase of 222%.Īs at September 30, 2021, the total outstanding borrowings under our Loan agreements decreased to $33 million compared to $37 million as at December 31, 2020, gross of unamortized debt discount, a decrease of about 11%.Īdjusted EBITDA is a measure not in accordance with generally accepted accounting principles (“GAAP”). In 9M2021, Total revenues increased by about 217% compared to 9M2020.įor the 9M2021 the Total comprehensive income amounted to $4.8 million compared to a Total comprehensive loss of $14.5 million for 9M2020. 30, 2021 (GLOBE NEWSWIRE) - Globus Maritime Limited (“Globus”, the “Company”, “we”, or “our”) (NASDAQ: GLBS), a dry bulk shipping company, today reported its unaudited consolidated operating and financial results for the quarter and nine-month period ended September 30, 2021.