10-K Filing

Pangaea Logistics Solutions Ltd. CIK: 1606909 FY 2014

Filing Information

Form Type	10-K
Accession Number	`0001144204-15-020193`
Period End Date	20141231
Filing Date	20150331
Fiscal Year	2014
Fiscal Period	FY
XBRL Instance	cik0001606909-20141231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 88 Income Statement 48 Cash Flow Statement 104 Stockholders Equity 26

Balance Sheet 88 line items

Line Item	Tag	Value	Unit	Period
Allowance for Doubtful Accounts Receivable	`AllowanceForDoubtfulAccountsReceivable`	$1.66M	USD	Point-in-time
Allowance for Doubtful Accounts Receivable	`AllowanceForDoubtfulAccountsReceivable`	$4.03M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$29.82M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$19.70M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$18.93M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$1.00M	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$500.00K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts receivable (net of allowance of $4,029,669 at December 31, 2014 and $1,662,593 at December 31, 2013)	`AccountsReceivableNetCurrent`	$44.69M	USD	Point-in-time
Accounts receivable (net of allowance of $4,029,669 at December 31, 2014 and $1,662,593 at December 31, 2013)	`AccountsReceivableNetCurrent`	$27.36M	USD	Point-in-time
Bunker inventory	`InventoryNet`	$15.60M	USD	Point-in-time
Temporary equity, par value (in dollars per share)	`TemporaryEquityParOrStatedValuePerShare`	$1.00K	USD	Point-in-time
Temporary equity, par value (in dollars per share)	`TemporaryEquityParOrStatedValuePerShare`	$1.00K	USD	Point-in-time
Bunker inventory	`InventoryNet`	$21.07M	USD	Point-in-time
Temporary equity, shares authorized	`TemporaryEquitySharesAuthorized`	112,500.00	shares	Point-in-time
Temporary equity, shares authorized	`TemporaryEquitySharesAuthorized`	112,500.00	shares	Point-in-time
Advance hire, prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$12.88M	USD	Point-in-time
Advance hire, prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$6.57M	USD	Point-in-time
Vessels held for sale, net	`AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$4.52M	USD	Point-in-time
Vessels held for sale, net	`AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent`	-	USD	Point-in-time
Temporary equity, shares issued	`TemporaryEquitySharesIssued`	0.00	shares	Point-in-time
Temporary equity, shares issued	`TemporaryEquitySharesIssued`	89,114.00	shares	Point-in-time
Temporary equity, shares outstanding	`TemporaryEquitySharesOutstanding`	89,114.00	shares	Point-in-time
Temporary equity, shares outstanding	`TemporaryEquitySharesOutstanding`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$98.07M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$84.87M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	$197.15M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	$207.67M	USD	Point-in-time
Investment in newbuildings in-process	`DevelopmentInProcess`	$38.47M	USD	Point-in-time
Investment in newbuildings in-process	`DevelopmentInProcess`	$31.90M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	34.76M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	13.42M	shares	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$3.25M	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$1.45M	USD	Point-in-time
Total assets	`Assets`	$330.37M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	34.76M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	13.42M	shares	Point-in-time
Total assets	`Assets`	$332.46M	USD	Point-in-time
Accounts payable accrued expenses and other current liabilities	`AccountsPayableAccruedExpensesAndOtherCurrentLiabilities`	$40.20M	USD	Point-in-time
Accounts payable accrued expenses and other current liabilities	`AccountsPayableAccruedExpensesAndOtherCurrentLiabilities`	$45.88M	USD	Point-in-time
Related party debt	`DueToRelatedPartiesCurrent`	$59.10M	USD	Point-in-time
Related party debt	`DueToRelatedPartiesCurrent`	$7.62M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$16.16M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$11.75M	USD	Point-in-time
Current portion long-term debt	`OtherLongTermDebtCurrent`	$17.81M	USD	Point-in-time
Current portion long-term debt	`OtherLongTermDebtCurrent`	$16.07M	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$3.00M	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$3.00M	USD	Point-in-time
Dividend payable	`DividendsPayableCurrent`	$12.82M	USD	Point-in-time
Dividend payable	`DividendsPayableCurrent`	$23.18M	USD	Point-in-time
Total current liabilties	`LiabilitiesCurrent`	$144.69M	USD	Point-in-time
Total current liabilties	`LiabilitiesCurrent`	$111.89M	USD	Point-in-time
Secured long-term debt, net	`SecuredLongTermDebt`	$83.30M	USD	Point-in-time
Secured long-term debt, net	`SecuredLongTermDebt`	$87.43M	USD	Point-in-time
Related party long-term debt, net	`DueToRelatedPartiesNoncurrent`	-	USD	Point-in-time
Related party long-term debt, net	`DueToRelatedPartiesNoncurrent`	$17.30M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Convertible redeemable preferred stock of Bulk Partners (Bermuda) Ltd., net of issuance costs ($1,000 par value, 112,500 shares authorized, 0 and 89,114 shares issued and outstanding at December 31, 2014 and 2013, respectively	`TemporaryEquityCarryingAmountAttributableToParent`	$103.24M	USD	Point-in-time
Convertible redeemable preferred stock of Bulk Partners (Bermuda) Ltd., net of issuance costs ($1,000 par value, 112,500 shares authorized, 0 and 89,114 shares issued and outstanding at December 31, 2014 and 2013, respectively	`TemporaryEquityCarryingAmountAttributableToParent`	-	USD	Point-in-time
Preferred stock, $0.0001 par value, 1,000,000 shares authorized and no shares issued or outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.0001 par value, 1,000,000 shares authorized and no shares issued or outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.0001 par value, 100,000,000 shares authorized 34,756,980 shares issued and outstanding at December 31, 2014, 13,421,955 shares issued and outstanding at December 31, 2013	`CommonStockValue`	$1.34K	USD	Point-in-time
Common stock, $0.0001 par value, 100,000,000 shares authorized 34,756,980 shares issued and outstanding at December 31, 2014, 13,421,955 shares issued and outstanding at December 31, 2013	`CommonStockValue`	$3.48K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$85.99K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$133.96M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-36.14M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-5.93M	USD	Point-in-time
Total Pangaea Logistics Solutions Ltd. equity (deficit)	`StockholdersEquity`	$-5.85M	USD	Point-in-time
Total Pangaea Logistics Solutions Ltd. equity (deficit)	`StockholdersEquity`	$97.82M	USD	Point-in-time
Non-controlling interests	`MinorityInterest`	$2.53M	USD	Point-in-time
Non-controlling interests	`MinorityInterest`	$20.48M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$100.35M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$3.66M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$14.64M	USD	Point-in-time
Total liabilities, convertible reemable preferred stock and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$330.37M	USD	Point-in-time
Total liabilities, convertible reemable preferred stock and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$332.46M	USD	Point-in-time

Income Statement 48 line items

Line Item	Tag	Value	Unit	Period
Voyage revenue	`VoyageRevenue`	$345.24M	USD	Annual
Voyage revenue	`VoyageRevenue`	$336.16M	USD	Annual
Charter revenue	`CharterRevenue`	$56.31M	USD	Annual
Charter revenue	`CharterRevenue`	$53.04M	USD	Annual
Revenues	`Revenues`	$398.28M	USD	Annual
Revenues	`Revenues`	$392.47M	USD	Annual
Voyage expense	`VoyageExpense`	$196.04M	USD	Annual
Voyage expense	`VoyageExpense`	$189.47M	USD	Annual
Charter hire expense	`CharterHireExpense`	$149.65M	USD	Annual
Charter hire expense	`CharterHireExpense`	$130.88M	USD	Annual
Vessel operating expenses	`VesselOperatingExpense`	$29.58M	USD	Annual
Vessel operating expenses	`VesselOperatingExpense`	$22.96M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$11.60M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$12.83M	USD	Annual
Depreciation and amortization	`CostOfServicesDepreciationAndAmortization`	$9.61M	USD	Annual
Depreciation and amortization	`CostOfServicesDepreciationAndAmortization`	$11.67M	USD	Annual
Loss on impairment of vessels	`AssetImpairmentCharges`	$11.51M	USD	Annual
Loss on impairment of vessels	`AssetImpairmentCharges`	-	USD	Annual
Gain on sale of vessels	`GainLossOnSaleOfProperties`	$3.95M	USD	Annual
Gain on sale of vessels	`GainLossOnSaleOfProperties`	-	USD	Annual
Total expenses	`OperatingExpenses`	$371.09M	USD	Annual
Total expenses	`OperatingExpenses`	$400.77M	USD	Annual
(Loss) income from operations	`OperatingIncomeLoss`	$-2.49M	USD	Annual
(Loss) income from operations	`OperatingIncomeLoss`	$21.38M	USD	Annual
Interest expense, net	`InterestExpense`	$5.49M	USD	Annual
Interest expense, net	`InterestExpense`	$5.64M	USD	Annual
Interest expense related party debt	`InterestExpenseRelatedParty`	$411.78K	USD	Annual
Interest expense related party debt	`InterestExpenseRelatedParty`	$263.65K	USD	Annual
Imputed interest on related party long-term debt	`ImputedInterestOnRelatedPartyLongTermDebt`	$1.12M	USD	Annual
Imputed interest on related party long-term debt	`ImputedInterestOnRelatedPartyLongTermDebt`	$322.95K	USD	Annual
Unrealized (loss) gain on derivative instruments	`UnrealizedGainLossOnDerivatives`	$1.10M	USD	Annual
Unrealized (loss) gain on derivative instruments	`UnrealizedGainLossOnDerivatives`	$-1.23M	USD	Annual
Other (expense) income	`NonoperatingIncomeExpense`	$-3.69M	USD	Annual
Other (expense) income	`NonoperatingIncomeExpense`	$45.94K	USD	Annual
Total other expense, net	`OtherNonoperatingIncomeExpense`	$-5.87M	USD	Annual
Total other expense, net	`OtherNonoperatingIncomeExpense`	$-11.15M	USD	Annual
Net (loss) income	`ProfitLoss`	$15.51M	USD	Annual
Net (loss) income	`ProfitLoss`	$-13.65M	USD	Annual
Loss (income) attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$62.15K	USD	Annual
Loss (income) attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$-1.52M	USD	Annual
Net (loss) income attributable to Pangaea Logistics Solutions Ltd.	`NetIncomeLoss`	$-12.13M	USD	Annual
Net (loss) income attributable to Pangaea Logistics Solutions Ltd.	`NetIncomeLoss`	$15.45M	USD	Annual
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.65	USD	Annual
Basic (in dollars per share)	`EarningsPerShareBasic`	$-1.61	USD	Annual
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-1.61	USD	Annual
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.65	USD	Annual
Weighted average shares used to compute (loss) earnings per common share (Note 5) Basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	13.42M	shares	Annual
Weighted average shares used to compute (loss) earnings per common share (Note 5) Basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	18.73M	shares	Annual

Cash Flow Statement 104 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`ProfitLoss`	$15.51M	USD	Annual
Net (loss) income	`ProfitLoss`	$-13.65M	USD	Annual
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$9.61M	USD	Annual
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$11.67M	USD	Annual
Amortization of deferred financing costs	`AmortizationOfDeferredFinancingCostsAndBankFees`	$954.60K	USD	Annual
Amortization of deferred financing costs	`AmortizationOfDeferredFinancingCostsAndBankFees`	$949.93K	USD	Annual
Unrealized loss (gain) on derivative instruments	`UnrealizedGainLossOnCashFlowHedgingInstruments`	$-1.23M	USD	Annual
Unrealized loss (gain) on derivative instruments	`UnrealizedGainLossOnCashFlowHedgingInstruments`	$1.10M	USD	Annual
Loss (income) from equity method investee	`IncomeLossFromEquityMethodInvestments`	$-265.44K	USD	Annual
Loss (income) from equity method investee	`IncomeLossFromEquityMethodInvestments`	$10.22K	USD	Annual
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$2.76M	USD	Annual
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$652.32K	USD	Annual
Gain on sales of vessels	`GainLossOnSaleOfOtherAssets`	-	USD	Annual
Gain on sales of vessels	`GainLossOnSaleOfOtherAssets`	$3.95M	USD	Annual
Loss on impairment of vessels	`AssetImpairmentCharges`	$11.51M	USD	Annual
Loss on impairment of vessels	`AssetImpairmentCharges`	-	USD	Annual
Write off unamortized financing costs of repaid debt	`WriteOffOfUnamortizedFinancingCosts`	$471.83K	USD	Annual
Write off unamortized financing costs of repaid debt	`WriteOffOfUnamortizedFinancingCosts`	-	USD	Annual
Amortization of discount on related party long-term debt	`AmortizationOfDiscountOnRelatedPartyLongtermDebt`	$1.12M	USD	Annual
Amortization of discount on related party long-term debt	`AmortizationOfDiscountOnRelatedPartyLongtermDebt`	$322.95K	USD	Annual
Share-based compensation	`ShareBasedCompensation`	-	USD	Annual
Share-based compensation	`ShareBasedCompensation`	$1.82K	USD	Annual
Increase in restricted cash	`IncreaseInRestrictedCash`	$500.00K	USD	Annual
Increase in restricted cash	`IncreaseInRestrictedCash`	-	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$15.45M	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-14.56M	USD	Annual
Bunker inventory	`IncreaseDecreaseInInventories`	$-5.47M	USD	Annual
Bunker inventory	`IncreaseDecreaseInInventories`	$7.22M	USD	Annual
Advance hire, prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-4.29M	USD	Annual
Advance hire, prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$2.64M	USD	Annual
Account payable, accrued expenses and other current liabilities	`IncreaseDecreaseInAccountPayableAccruedExpensesAndOtherCurrentLiabilities`	$16.95M	USD	Annual
Account payable, accrued expenses and other current liabilities	`IncreaseDecreaseInAccountPayableAccruedExpensesAndOtherCurrentLiabilities`	$-6.41M	USD	Annual
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-4.41M	USD	Annual
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$2.73M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$24.59M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$21.12M	USD	Annual
Purchase of vessels	`PaymentForPurchaseOfVessels`	$49.74M	USD	Annual
Purchase of vessels	`PaymentForPurchaseOfVessels`	$43.91M	USD	Annual
Proceeds from sales of vessels	`ProceedsFromSaleOfVessels`	-	USD	Annual
Proceeds from sales of vessels	`ProceedsFromSaleOfVessels`	$23.28M	USD	Annual
Deposits on newbuildings in-process	`PaymentsToAcquireBuildings`	$13.10M	USD	Annual
Deposits on newbuildings in-process	`PaymentsToAcquireBuildings`	$31.90M	USD	Annual
Drydocking costs	`PaymentForDrydockingCosts`	$731.28K	USD	Annual
Drydocking costs	`PaymentForDrydockingCosts`	$4.88M	USD	Annual
Purchase of building and equipment	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$560.96K	USD	Annual
Purchase of building and equipment	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$112.90K	USD	Annual
Deposits on vessel purchase	`DepositsOnVesselPurchase`	$1.50M	USD	Annual
Deposits on vessel purchase	`DepositsOnVesselPurchase`	-	USD	Annual
Acquisition of interest in equity method investee	`PaymentsToAcquireEquityMethodInvestments`	-	USD	Annual
Acquisition of interest in equity method investee	`PaymentsToAcquireEquityMethodInvestments`	-	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-39.18M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-83.98M	USD	Annual
Proceeds from Mergers	`ProceedsFromMergers`	$-5.04M	USD	Annual
Proceeds from Mergers	`ProceedsFromMergers`	-	USD	Annual
Proceeds of related party debt	`ProceedsFromRelatedPartyDebt`	$29.55M	USD	Annual
Proceeds of related party debt	`ProceedsFromRelatedPartyDebt`	$17.65M	USD	Annual
Payments on related party debt	`RepaymentsOfRelatedPartyDebt`	$5.27M	USD	Annual
Payments on related party debt	`RepaymentsOfRelatedPartyDebt`	$225.29K	USD	Annual
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$32.20M	USD	Annual
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$35.50M	USD	Annual
Payments of financing and issuance costs	`PaymentOfFinancingAndStockIssuanceCosts`	$1.80M	USD	Annual
Payments of financing and issuance costs	`PaymentOfFinancingAndStockIssuanceCosts`	$484.38K	USD	Annual
Payments on long-term debt	`RepaymentsOfLongTermDebt`	$14.40M	USD	Annual
Payments on long-term debt	`RepaymentsOfLongTermDebt`	$30.05M	USD	Annual
Merger costs	`PaymentsForMergerRelatedCosts`	-	USD	Annual
Merger costs	`PaymentsForMergerRelatedCosts`	$1.85M	USD	Annual
Proceeds from issuance of convertible redeemable preferred stock	`ProceedsFromIssuanceOfRedeemableConvertiblePreferredStock`	$21.90M	USD	Annual
Proceeds from issuance of convertible redeemable preferred stock	`ProceedsFromIssuanceOfRedeemableConvertiblePreferredStock`	-	USD	Annual
Common stock dividends paid	`PaymentsOfDividendsCommonStock`	$100.00K	USD	Annual
Common stock dividends paid	`PaymentsOfDividendsCommonStock`	$100.00K	USD	Annual
Decrease in restricted cash	`DecreaseInRestrictedCash`	$187.50K	USD	Annual
Decrease in restricted cash	`DecreaseInRestrictedCash`	-	USD	Annual
Distributions to non-controlling interest	`PaymentsOfDistributionsToAffiliates`	-	USD	Annual
Distributions to non-controlling interest	`PaymentsOfDistributionsToAffiliates`	$176.67K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$62.10M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$25.47M	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-767.75K	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$10.89M	USD	Annual
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$29.82M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$19.70M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$18.93M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$29.82M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$19.70M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$18.93M	USD	Point-in-time
Dividends declared, not paid	`Dividends`	$6.30M	USD	Annual
Dividends declared, not paid	`Dividends`	$12.70M	USD	Annual
Issuance of convertible redeemable preferred stock as settlement of accrued dividends	`IssuanceOfConvertibleRedeemablePreferredStockAsSettlementOfAccruedDividends`	$213.15K	USD	Annual
Issuance of convertible redeemable preferred stock as settlement of accrued dividends	`IssuanceOfConvertibleRedeemablePreferredStockAsSettlementOfAccruedDividends`	$28.33M	USD	Annual
Issuance of convertible redeemable preferred stock in settlement of notes payable	`DebtConversionConvertedInstrumentAmount1`	-	USD	Annual
Issuance of convertible redeemable preferred stock in settlement of notes payable	`DebtConversionConvertedInstrumentAmount1`	$4.43M	USD	Annual
Issuance of common stock in settlement of merger related costs	`StockIssued1`	-	USD	Annual
Issuance of common stock in settlement of merger related costs	`StockIssued1`	$4.23M	USD	Annual
Issuance of convertible redeemable preferred stock in settlement of common stock dividend	`IssuanceOfConvertibleRedeemablePreferredStockInSettlementOfCommonStockDividend`	-	USD	Annual
Issuance of convertible redeemable preferred stock in settlement of common stock dividend	`IssuanceOfConvertibleRedeemablePreferredStockInSettlementOfCommonStockDividend`	-	USD	Annual
Beneficial conversion feature of convertible redeemable preferred stock at issuance date	`BeneficialConversionFeatureOfConvertibleRedeemablePreferredStock`	$11.78M	USD	Annual
Beneficial conversion feature of convertible redeemable preferred stock at issuance date	`BeneficialConversionFeatureOfConvertibleRedeemablePreferredStock`	$8.96M	USD	Annual
Modification of Shareholder loan to on Demand	`ModificationOfShareholderLoanToOnDemand`	$16.43M	USD	Annual
Modification of Shareholder loan to on Demand	`ModificationOfShareholderLoanToOnDemand`	-	USD	Annual
Imputed interest on related party long-term debt	`AmortizationOfDiscountAndImputedInterestOnRelatedPartyLongTermDebt`	$322.95K	USD	Annual
Imputed interest on related party long-term debt	`AmortizationOfDiscountAndImputedInterestOnRelatedPartyLongTermDebt`	$17.87M	USD	Annual
Transfer of ownership to noncontrolling interest	`NoncontrollingInterestIncreaseFromSaleOfParentEquityInterest`	-	USD	Annual
Transfer of ownership to noncontrolling interest	`NoncontrollingInterestIncreaseFromSaleOfParentEquityInterest`	$360.00K	USD	Annual
Cash paid for interest	`InterestPaid`	$5.11M	USD	Annual
Cash paid for interest	`InterestPaid`	$4.06M	USD	Annual

Stockholders Equity 26 line items

Line Item	Tag	Value	Unit	Period
Debt Issuance Cost	`DebtIssuanceCosts`	$273.74K	USD	Annual
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$100.35M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$3.66M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$14.64M	USD	Point-in-time
Accrued convertible redeemable preferred stock dividends	`AccruedConvertibleRedeemablePreferredStockDividends`	$6.30M	USD	Annual
Retroactive restatement to reflect common shares issued in the Mergers (Note 2)	`RetroactiveRestatementToReflectCommonStockIssuedForMergers`	-	USD	Annual
Recognized beneficial conversion feature of convertible redeemable preferred stock at issuance date	`RecognizedBeneficialConversionFeatureOfConvertibleRedeemablePreferredStockAtIssuanceDate`	-	USD	Annual
Recognized beneficial conversion feature of convertible redeemable preferred stock at issuance date	`RecognizedBeneficialConversionFeatureOfConvertibleRedeemablePreferredStockAtIssuanceDate`	-	USD	Annual
Issuance of convertible redeemable preferred stock as settlement of accrued dividends	`StockIssuedDuringPeriodValueIssuanceOfConvertibleRedeemablePreferredStockAsSettlementOfAccruedDividends`	$-45.84K	USD	Annual
Issuance of convertible redeemable preferred stock as settlement of accrued dividends	`StockIssuedDuringPeriodValueIssuanceOfConvertibleRedeemablePreferredStockAsSettlementOfAccruedDividends`	$-11.78M	USD	Annual
Issuance of convertible redeemable preferred stock as repayment of notes payable	`StockIssuedDuringPeriodValueIssuanceOfConvertibleRedeemablePreferredStockAsRepaymentOfNotesPayable`	$-1.43M	USD	Annual
Issuance of convertible redeemable preferred stock for cash, net of issuance costs	`StockIssuedDuringPeriodValueIssuanceOfConvertibleRedeemablePreferredStockForCash`	$-7.52M	USD	Annual
Dividend on common stock and participating preferred dividend declared	`DividendOnCommonStockAndParticipatingPreferredDividendDeclared`	$12.70M	USD	Annual
Imputed interest on related party long term debt	`NoncontrollingInterestImputedInterestOnRelatedPartyLongTermDebt`	$322.95K	USD	Annual
Imputed interest on related party long term debt	`NoncontrollingInterestImputedInterestOnRelatedPartyLongTermDebt`	$17.87M	USD	Annual
Shareholder loan modification	`MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders`	$16.76M	USD	Annual
Restructuring of NBHC (Note 1)	`RestructuringOfSubsidiaries`	$718.92K	USD	Annual
Conversion of preferred stock to common shares	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$131.57M	USD	Annual
Merger transaction	`StockIssuedDuringPeriodValueIssuedForMerger`	$5.03M	USD	Annual
Merger costs	`StockIssuedDuringPeriodValueIssuedForNoncashConsiderations`	$-2.73M	USD	Annual
Issuance of restricted shares	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	$1.82K	USD	Annual
Net Income (loss)	`ProfitLoss`	$15.51M	USD	Annual
Net Income (loss)	`ProfitLoss`	$-13.65M	USD	Annual
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$100.35M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$3.66M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$14.64M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.