Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

v3.22.1
Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2021
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, 2021  
    Revenue     Volume
(KG)
    Average
price
    Percentage
of revenue
 
Argentine squid   $ 49,127,035       15,279,655     $ 3.22       29.9 %
Indian Ocean squid     22,394,010       22,920,501       0.98       13.6 %
South American white shrimp     18,121,563       3,523,536       5.14       11.0 %
Sardines     17,975,661       40,425,215       0.44       11.0 %
Peru Squid     16,877,775       12,698,146       1.33       10.3 %
Others     39,587,000       35,146,479       1.13       24.2 %
Total   $ 164,083,044       129,993,532     $ 1.26       100.0 %

 

    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 %
Sardines     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 %

 

Schedule of reconciliation of basic and diluted net income per share
    Year Ended December 31,  
    2021     2020     2019  
Net (loss) income attributable to ordinary shareholders of the Company     (2,480,719 )     (72,878,248 )     5,682,024  
Preferred Share Dividends     (300,000 )    
-
     
-
 
Net (loss) income available to ordinary shareholders   $ (2,780,719 )   $ (72,878,248 )   $ 5,682,024  
Weighted average ordinary shares issued and outstanding                        
Basic     84,906,368       79,121,471       79,055,053  
Diluted     84,906,368       79,121,471       79,055,053  
Net (loss) income per ordinary share;                        
Basic   $ (0.03 )     (0.92 )     0.07  
Diluted   $ (0.03 )     (0.92 )     0.07