The latest financial statement is for the quarter ending 2025-09-30.
| Cash Flow | 2025-09-30 | 2025-06-30 |
|---|---|---|
| Net income | 12,987,513 | -5,098,740 |
| Depreciation and amortization expense | 10,213,995 | 20,520,975 |
| Amortization of deferred financing costs | 264,440 | 610,839 |
| Amortization of prepaid rent | 28,769 | 59,883 |
| Unrealized loss on derivative instruments | 665,790 | -1,117,392 |
| Income from equity method investee | 954,492 | 876,788 |
| Earnings attributable to non-controlling interest recorded as other long-term liability | 0 | 0 |
| Provision for doubtful accounts | 107,951 | 1,065,911 |
| Gain on sale of vessel and equipment | 308,685 | - |
| Drydocking costs | 1,867,333 | 11,945,125 |
| Share-based compensation | 614,419 | 2,080,781 |
| Accounts receivable | -3,651,704 | 8,020,737 |
| Inventories | -2,445,872 | 5,735,507 |
| Advance hire, prepaid expenses and other current assets | 1,613,696 | 355,235 |
| Accounts payable, accrued expenses and other current liabilities | 3,859,950 | 13,571,953 |
| Deferred revenue | -202,898 | 3,043,556 |
| Net cash provided by operating activities | 28,561,719 | 10,039,158 |
| Purchase of vessels, vessel improvements and equipment | 5,283,402 | 222,988 |
| Proceeds from sale of vessels and equipment | 7,859,513 | - |
| Acquisition of non-controlling interest | 2,700,000 | - |
| Purchase of fixed assets and equipment | - | 1,346,003 |
| Dividends received from equity method investments | 3,100,000 | - |
| Advances for vessel purchases | - | 0 |
| Contributions to non-consolidated subsidiaries and other investments | 0 | 842,307 |
| Net cash provided by (used in) investing activities | 4,322,114 | -2,411,298 |
| Proceeds from long-term debt | 0 | 0 |
| Payments of financing fees and debt issuance costs | 45,000 | 0 |
| Payments of long-term debt | 4,148,681 | 8,269,173 |
| Proceeds from financing obligation | 18,000,000 | - |
| Payments of financing obligations | 6,513,306 | 12,601,538 |
| Payments of finance leases | 710,939 | 1,421,874 |
| Dividends paid to non-controlling interests | 258,009 | 1,941,667 |
| Cash dividends paid | 3,186,590 | 9,939,066 |
| Payments to repurchase ordinary shares | 984,235 | 1,007,102 |
| Payments to non-controlling interest | 0 | 0 |
| Net cash (used in) provided by financing activities | 2,153,240 | -35,180,420 |
| Net change in cash, cash equivalents and restricted cash | 35,037,073 | -27,552,560 |
| Cash and cash equivalents at beginning of period | 86,805,470 | - |
| Cash and cash equivalents at end of period | 94,289,983 | - |
Pangaea Logistics Solutions Ltd. (PANL)
Pangaea Logistics Solutions Ltd. (PANL)