Castor Maritime Inc (NASDAQ: CTRM), a spread global shipping company, has announced that it has obtained a written corroboration from the Nasdaq Stock Market on June 14, 2021, that the company is in full acquiescence with Nasdaq Listing Rule 5550(a)(2) regarding the minimum bid worth of the company’s stock, and the matter is now closed. As a result, the company shares ascended 686.4370% to end dealing Monday at $3.34 per share – a clear alteration of $2.9153. Shares dealt amongst $3.53 and $3.32 through the day.
In other news, the company also announced its first-quarter results for the quarter ending March 31, 2021. Its proceeds, net: $7.0 million for the three months concluded March 31, 2021, as associated to $2.7 million for the three months ended March 31, 2020, or a 159% period to period upsurge.
Net income/ deficit: Net income of $1.1 million for the three months completed March 31, 2021, as associated to a net deficit of $0.3 million for the three months completed March 31, 2020, or a 467% period to period upsurge;
Incomes/ deficit per common share: $0.02 remunerations per share for the three months completed March 31, 2021, as associated with loss per share of $0.68 for the three months completed March 31, 2020, or a 103% period to period upsurge;
EBITDA: $2.6 million for the three months finished March 31, 2021, as likened to $0.9 million for the three months finished March 31, 2020, or a 189% period to period upsurge;
Cash and limited cash of $64.2 million as of March 31, 2021, as associated to $9.4 million as of December 31, 2020, or a 583% period to period upsurge;
Since the start of this year, Castor stated acquiring 20 containers across the dry bulk and tanker sections, containing 1 Capesize, 7 Kamsarmax, and 4 Panamax dry bulk transporters. As of June 2, 2021, the company has taken efficacious conveyance of 14 vessels and expects 6 outstanding acquirements to complete by the fourth quarter of this year, subject to usual concluding conditions. On a fully distributed basis, Castor will own a spread fleet of 26 receptacles with an amassed volume of 2.2 million dwt, having more than multiplied its fleet size since December 31, 2020.
Castor Maritime Inc (NASDAQ: CTRM) is an intercontinental supplier of shipping transportation services through its possession of oceangoing shipment vessels.