XML 47 R7.htm IDEA: XBRL DOCUMENT v2.4.1.9
Consolidated Statements of Cash Flows (Unaudited) (USD $)
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Successor [Member]    
Net loss $ (20,667,064)us-gaap_NetIncomeLoss
/ us-gaap_StatementScenarioAxis
= us-gaap_SuccessorMember
 
Depreciation 10,271,775us-gaap_OtherDepreciationAndAmortization
/ us-gaap_StatementScenarioAxis
= us-gaap_SuccessorMember
 
Amortization of deferred drydocking costs 285,396egle_AmortizationOfDeferredDryDockingCosts
/ us-gaap_StatementScenarioAxis
= us-gaap_SuccessorMember
 
Amortization of deferred financing costs 28,341us-gaap_AmortizationOfFinancingCosts
/ us-gaap_StatementScenarioAxis
= us-gaap_SuccessorMember
 
Amortization of discount on Exit Facility 696,084us-gaap_AmortizationOfDebtDiscountPremium
/ us-gaap_StatementScenarioAxis
= us-gaap_SuccessorMember
 
Amortization of fair value below contract value of time charter acquired (335,330)egle_AmortizationOfFairValuebelowAboveContractValueOfTimeCharterAcquired
/ us-gaap_StatementScenarioAxis
= us-gaap_SuccessorMember
 
Non-cash compensation expense 1,884,452us-gaap_ShareBasedCompensation
/ us-gaap_StatementScenarioAxis
= us-gaap_SuccessorMember
 
Drydocking expenditures (3,060,384)egle_DryDockingExpenditures
/ us-gaap_StatementScenarioAxis
= us-gaap_SuccessorMember
 
Accounts receivable 3,833,086us-gaap_IncreaseDecreaseInAccountsReceivable
/ us-gaap_StatementScenarioAxis
= us-gaap_SuccessorMember
 
Other assets 947,830us-gaap_IncreaseDecreaseInOtherOperatingAssets
/ us-gaap_StatementScenarioAxis
= us-gaap_SuccessorMember
 
Prepaid expenses 715,445us-gaap_IncreaseDecreaseInPrepaidExpense
/ us-gaap_StatementScenarioAxis
= us-gaap_SuccessorMember
 
Inventories (672,954)us-gaap_IncreaseDecreaseInInventories
/ us-gaap_StatementScenarioAxis
= us-gaap_SuccessorMember
 
Accounts payable (3,860,279)us-gaap_IncreaseDecreaseInAccountsPayable
/ us-gaap_StatementScenarioAxis
= us-gaap_SuccessorMember
 
Accrued interest 34,882us-gaap_IncreaseDecreaseInInterestPayableNet
/ us-gaap_StatementScenarioAxis
= us-gaap_SuccessorMember
 
Accrued expenses 1,138,665us-gaap_IncreaseDecreaseInAccruedLiabilities
/ us-gaap_StatementScenarioAxis
= us-gaap_SuccessorMember
 
Unearned revenue (876,693)us-gaap_IncreaseDecreaseInDeferredRevenue
/ us-gaap_StatementScenarioAxis
= us-gaap_SuccessorMember
 
Net cash (used in) / provided by operating activities (9,636,748)us-gaap_NetCashProvidedByUsedInOperatingActivities
/ us-gaap_StatementScenarioAxis
= us-gaap_SuccessorMember
 
Vessel Improvements (742,014)egle_PaymentsToAcquireVesselsAndVesselImprovementsAndAdvancesForVesselConstruction
/ us-gaap_StatementScenarioAxis
= us-gaap_SuccessorMember
 
Net cash used in investing activities (742,014)us-gaap_NetCashProvidedByUsedInInvestingActivities
/ us-gaap_StatementScenarioAxis
= us-gaap_SuccessorMember
 
Repayment of Term Loan (3,906,250)us-gaap_RepaymentsOfLongTermDebt
/ us-gaap_StatementScenarioAxis
= us-gaap_SuccessorMember
 
Cash used to settle net share equity awards (1,285,506)us-gaap_EmployeeServiceShareBasedCompensationCashFlowEffectCashUsedToSettleAwards
/ us-gaap_StatementScenarioAxis
= us-gaap_SuccessorMember
 
Net cash used in financing activities (5,191,756)us-gaap_NetCashProvidedByUsedInFinancingActivities
/ us-gaap_StatementScenarioAxis
= us-gaap_SuccessorMember
 
Net increase (decrease) in cash (15,570,518)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
/ us-gaap_StatementScenarioAxis
= us-gaap_SuccessorMember
 
Cash at beginning of period 39,975,287us-gaap_CashAndCashEquivalentsAtCarryingValue
/ us-gaap_StatementScenarioAxis
= us-gaap_SuccessorMember
 
Cash at end of period 24,404,769us-gaap_CashAndCashEquivalentsAtCarryingValue
/ us-gaap_StatementScenarioAxis
= us-gaap_SuccessorMember
 
Predecessor [Member]    
Net loss   (22,589,886)us-gaap_NetIncomeLoss
/ us-gaap_StatementScenarioAxis
= us-gaap_PredecessorMember
Depreciation   18,413,964us-gaap_OtherDepreciationAndAmortization
/ us-gaap_StatementScenarioAxis
= us-gaap_PredecessorMember
Amortization of deferred drydocking costs   663,849egle_AmortizationOfDeferredDryDockingCosts
/ us-gaap_StatementScenarioAxis
= us-gaap_PredecessorMember
Amortization of deferred financing costs   2,015,777us-gaap_AmortizationOfFinancingCosts
/ us-gaap_StatementScenarioAxis
= us-gaap_PredecessorMember
Payment-in-kind interest on debt   7,337,775us-gaap_PaidInKindInterest
/ us-gaap_StatementScenarioAxis
= us-gaap_PredecessorMember
Non-cash compensation expense   279,743us-gaap_ShareBasedCompensation
/ us-gaap_StatementScenarioAxis
= us-gaap_PredecessorMember
Drydocking expenditures   (870,303)egle_DryDockingExpenditures
/ us-gaap_StatementScenarioAxis
= us-gaap_PredecessorMember
Accounts receivable   (2,524,494)us-gaap_IncreaseDecreaseInAccountsReceivable
/ us-gaap_StatementScenarioAxis
= us-gaap_PredecessorMember
Other assets   (2,301,153)us-gaap_IncreaseDecreaseInOtherOperatingAssets
/ us-gaap_StatementScenarioAxis
= us-gaap_PredecessorMember
Prepaid expenses   (2,317,078)us-gaap_IncreaseDecreaseInPrepaidExpense
/ us-gaap_StatementScenarioAxis
= us-gaap_PredecessorMember
Inventories   2,875,171us-gaap_IncreaseDecreaseInInventories
/ us-gaap_StatementScenarioAxis
= us-gaap_PredecessorMember
Accounts payable   (1,804,245)us-gaap_IncreaseDecreaseInAccountsPayable
/ us-gaap_StatementScenarioAxis
= us-gaap_PredecessorMember
Accrued interest   (1,746)us-gaap_IncreaseDecreaseInInterestPayableNet
/ us-gaap_StatementScenarioAxis
= us-gaap_PredecessorMember
Accrued expenses   1,520,243us-gaap_IncreaseDecreaseInAccruedLiabilities
/ us-gaap_StatementScenarioAxis
= us-gaap_PredecessorMember
Unearned revenue   (532,203)us-gaap_IncreaseDecreaseInDeferredRevenue
/ us-gaap_StatementScenarioAxis
= us-gaap_PredecessorMember
Net cash (used in) / provided by operating activities   165,414us-gaap_NetCashProvidedByUsedInOperatingActivities
/ us-gaap_StatementScenarioAxis
= us-gaap_PredecessorMember
Purchase of other fixed assets   (20,532)us-gaap_PaymentsToAcquireOtherPropertyPlantAndEquipment
/ us-gaap_StatementScenarioAxis
= us-gaap_PredecessorMember
Net cash used in investing activities   (20,532)us-gaap_NetCashProvidedByUsedInInvestingActivities
/ us-gaap_StatementScenarioAxis
= us-gaap_PredecessorMember
Net increase (decrease) in cash   144,882us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
/ us-gaap_StatementScenarioAxis
= us-gaap_PredecessorMember
Cash at beginning of period   19,682,724us-gaap_CashAndCashEquivalentsAtCarryingValue
/ us-gaap_StatementScenarioAxis
= us-gaap_PredecessorMember
Cash at end of period   $ 19,827,606us-gaap_CashAndCashEquivalentsAtCarryingValue
/ us-gaap_StatementScenarioAxis
= us-gaap_PredecessorMember