Annual report pursuant to Section 13 and 15(d)

Summary of Significant Accounting Policies (Tables)

v3.21.2
Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2020
Accounting Policies [Abstract]  
Schedule of estimated useful lives of the assets
      Estimated
useful life
 
Fishing vessels     10 - 20 Years  
Vehicles     5 Years  
Office and other equipment     3 - 5 Years  

 

Schedule of disaggregate revenues
    Year Ended December 31, 2020  
    Revenue     Volume (KG)     Average price     Percentage of revenue  
Indian Ocean squid   $ 33,968,115       41,608,084     $ 0.82       38.9 %
Peru squid     14,709,193       10,700,911       1.37       16.9 %
Chub mackerel     6,453,289       7,084,126       0.91       7.4 %
Cuttle fish     6,145,172       1,452,960       4.23       7.0 %
Sardine     4,296,979       11,399,554       0.38       4.9 %
Others     21,667,672       11,939,367       1.81       24.9 %
Total   $ 87,240,420       84,185,002     $ 1.04       100.0 %

 

    Year Ended December 31, 2019  
    Revenue     Volume (KG)     Average price     Percentage of revenue  
Indian Ocean squid   $ 35,502,599       32,028,789     $ 1.11       39.6 %
Ribbon fish     12,236,897       3,622,444       3.38       13.7 %
Cuttle fish     10,921,686       2,173,027       5.03       12.2 %
Peru squid(whole)     7,512,216       4,234,436       1.77       8.4 %
Croaker fish     4,884,278       2,301,876       2.12       5.4 %
Others     18,564,480       6,433,891       2.89       20.7 %
Total   $ 89,622,156       50,794,463     $ 1.76       100.0 %

 

    Year Ended December 31, 2018  
    Revenue     Volume (KG)     Average price     Percentage of revenue  
Ribbon fish   $ 13,327,231       4,880,638     $ 2.73       20.7 %
Croaker fish     11,525,765       5,223,607       2.21       17.9 %
Argentina squid(whole)     9,360,032       2,533,700       3.69       14.6 %
Peru squid(whole)     3,008,186       1,896,375       1.59       4.7 %
Squid     2,934,602       2,028,995       1.45       4.6 %
Chub mackerel     2,592,529       2,858,082       0.91       4.0 %
Others     21,507,743       6,868,996       3.13       33.5 %
Total   $ 64,256,088       26,290,393     $ 2.44       100.0 %

 

Schedule of reconciliation of basic and diluted net income per share
    Year Ended December 31,  
    2020     2019     2018  
Net (loss) income available to owners of the Company for basic and diluted net income per share of ordinary stock   $ (72,878,248 )   $ 5,682,024     $ 13,397,301  
Weighted average ordinary stock outstanding - basic and diluted     79,121,471       79,055,053       79,055,053  
Net (loss) income per ordinary share attributable to owners of the Company - basic and diluted   $ (0.92 )   $ 0.07     $ 0.17