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GLOBUS MARITIME LIMITED Globus Maritime Limited Reports Financial Results for the quarter and nine - month period ended September 30 , 2021 Glyfada , Greece , November 30 , 2021 , Globus Maritime Limited ( " Globus ” , the “ Company ” , “ we ” , or “ our ” ) ( NASDAQ : GLBS ) , a dry bulk shipping company , today reported its unaudited consolidated operating and financial results for the quarter and nine - month period ended September 30 , 2021 . Financial Highlights • In 9M2021 , Total revenues increased by about 217 % compared to 9M2020 . • For the 9M2021 the Total comprehensive income amounted to $ 4.8 million compared to a Total comprehensive loss of $ 14.5 million for 9M2020 . • The Adjusted EBITDA for 9M2021 increased by about 14.3 million compared to 9M2020 . . • As at September 30 , 2021 , and December 31 , 2020 , our cash and bank balances and bank deposits ( including restricted cash ) were $ 67.9 and $ 21.1 million , respectively , an increase of 222 % . As at September 30 , 2021 , the total outstanding borrowings under our Loan agreements decreased to $ 33 million compared to $ 37 million as at December 31 , 2020 , gross of unamortized debt discount , a decrease of about 11 % . Three months ended September 30 , Nine months ended September 30 , ( Expressed in thousands of U.S dollars except for daily rates and per share data ) 2021 2020 Total revenues 12,755 3,183 2021 24,751 2020 7,772 Total comprehensive income / ( loss ) 5,576 ( 1,267 ) 4,787 ( 14,466 ) Adjusted EBITDA ( 1 ) 7,814 294 12,175 ( 2,153 ) Basic and Diluted income / ( loss ) per share ( 2 ) 0.27 ( 0.80 ) 0.37 ( 24.76 ) Daily Time charter equivalent rate ( " TCE " ) ( 3 ) 17,057 6,404 13,325 4,191 Average operating expenses per vessel per day Average number of vessels 4,981 7.8 4,391 5.0 5,278 4,422 6.7 5.0 ( 1 ) Adjusted EBITDA is a measure not in accordance with generally accepted accounting principles ( " GAAP " ) . See a later section of this press release for a reconciliation of Adjusted EBITDA to total comprehensive loss and net cash used in operating activities , which are the most directly comparable financial measures calculated and presented in accordance with the GAAP measures . ( 2 ) The basic and diluted weighted average number of shares for the nine - month period ended September 30 , 2021 , was 12,865,496 compared to 584,158 shares for the nine - month period ended September 30 , 2020. The basic and diluted weighted average number of shares for the three - month period ended September 30 , 2021 , was 20,467,086 compared to 1,574,877 shares for the three - month period ended September 30 , 2020 . ( 3 ) Daily Time charter equivalent rate ( " TCE " ) is a measure not in accordance with generally accepted accounting principles ( " GAAP " ) . See a later section of this press release for a reconciliation of Daily TCE to Voyage revenues . Registered office : Trust Company Complex , Ajeltake Road , Ajeltake Island , P.O. Box 1405 , Majuro , Marshall Islands MH 96960 Comminucations Address : c / o Globus Shipmanagement Corp. 128 Vouliagmenis Avenue , 3rd Floor , 166 74 Glyfada , Greece Tel : +30 210 9608300 , Fax : +30 210 9608359 , e - mail : info@globusmaritime.gr www.globusmaritime.gr GLBS NASDAQ LISTED