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C CASTOR MARITIME Castor Maritime Inc. Reports $ 1.1 Million net profit for the Three Months Ended March 31 , 2021 - Limassol , Cyprus , June 3 , 2021 Castor Maritime Inc. ( NASDAQ : CTRM ) , ( " Castor " or the " Company " ) , a diversified global shipping company , today announced its results for the three months ended March 31 , 2021 . Highlights of the First Quarter Ended March 31 , 2021 : ( 1 ) Revenues , net : $ 7.0 million for the three months ended March 31 , 2021 , as compared to $ 2.7 million for the three months ended March 31 , 2020 , or a 159 % period to period increase ; Net income / loss : Net income of $ 1.1 million for the three months ended March 31 , 2021 , as compared to net loss of $ 0.3 million for the three months ended March 31 , 2020 , or a 467 % period to period increase ; Earnings / Loss per common share ( ¹ ) : $ 0.02 earnings per share for the three months ended March 31 , 2021 , as compared to loss per share of $ 0.68 for the three months ended March 31 , 2020 , or a 103 % period to period increase ; EBITDA ( ² ) : $ 2.6 million for the three months ended March 31 , 2021 , as compared to $ 0.9 million for the three months ended March 31 , 2020 , or a 189 % period to period increase ; Cash and restricted cash of $ 64.2 million as of March 31 , 2021 , as compared to $ 9.4 million as of December 31 , 2020 , or a 583 % period to period increase ; Since the beginning of this year , Castor announced the acquisition of 20 vessels across the dry bulk and tanker segments , consisting of 1 Capesize , 7 Kamsarmax and 4 Panamax dry bulk carriers as well as 1 Aframax , 5 Aframax / LR2 and 2 MR1 tankers . As of June 2 , 2021 , we have taken successful delivery of 14 vessels and expect 6 remaining acquisitions to conclude by the fourth quarter of this year , subject to customary closing conditions . On a fully delivered basis , Castor will own a diversified fleet of 26 vessels with an aggregate capacity of 2.2 million dwt , having more than quadrupled its fleet size since December 31 , 2020 ; and Effected a one - for - ten ( 1 - for - 10 ) reverse stock split of the Company's common shares on May 28 , 2021 ( ¹ ) . All share and per share amounts disclosed throughout this press release and in the financial information presented in Appendix B of this press release have been retroactively updated to reflect the reverse stock split effected on May 28 , 2021 , unless otherwise indicated . ( 2 ) EBITDA is not a recognized measure under United States generally accepted accounting principles ( " U.S. GAAP " ) . Please refer to Appendix B of this press release for the definition and reconciliation of this measure to the most directly comparable financial measure calculated and presented in accordance with U.S. GAAP . Page 1