d1402715_6-k.htm
FORM 6-K

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934

For the month of July 2013

Commission File Number: 000-50859

TOP SHIPS INC.
(Translation of registrant's name into English)

1 VAS. SOFIAS & MEG.
ALEXANDROU STREET
151 24, MAROUSSI
ATHENS, GREECE
(Address of principal executive offices)


Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F [ X ]     Form 40-F [   ]

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ________.

Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ________.

Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant's "home country"), or under the rules of the home country exchange on which the registrant's securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant's security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.


 
 
 

INFORMATION CONTAINED IN THIS FORM 6-K REPORT
 
Set forth below are the unaudited income statement and balance sheet of Top Ships Inc. for the six-month period ending June 30, 2013.
 
TOP SHIPS INC.
            
             
UNAUDITED CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME / (LOSS)
        
FOR THE SIX MONTHS ENDED JUNE 30, 2012 AND 2013
            
(Expressed in thousands of U.S. Dollars - except share and per share data)
        
             
   
Six Months Ended
    
Six Months Ended
  
   
June 30,
    
June 30,
  
   
2012
    
2013
  
             
REVENUES:
            
             
Revenues
   $ 16,166     $ 14,237  
                 
EXPENSES:
                
                 
Voyage expenses
     628       393  
Other vessel operating expenses
     752       41  
Vessel depreciation
     5,729       4,043  
Management fees-related parties
     1,203       302  
General and administrative expenses
     4,769       1,085  
                 
Operating income
     3,085       8,373  
                 
OTHER INCOME (EXPENSES):
                
                 
Interest and finance costs
     (4,942 )     (4,039 )
Gain / (Loss) on financial instruments
     (296 )     (60 )
Interest income
     46       54  
Other, net
     (16 )     158  
                 
Total other expenses, net
     (5,208 )     (3,887 )
                 
Net income
     (2,123 )     4,486  
Other Comprehensive income / (loss)
     -       -  
Comprehensive income / (loss)
   $ (2,123 )   $ 4,486  
                 
Earnings / (loss) per common share, basic and diluted
     (0.12 )     0.26  
                 
Weighted average common shares outstanding, basic and diluted
     16,986,345       17,030,359  


 
 
 


TOP SHIPS INC.
            
             
UNAUDITED CONSOLIDATED CONDENSED BALANCE SHEETS
        
DECEMBER 31, 2012 AND JUNE 30, 2013
            
(Expressed in thousands of U.S. Dollars)
            
             
       
   
December 31
    
June 30,
  
   
2012
    
2013
  
             
ASSETS
            
             
CASH AND CASH EQUIVALENTS
   $ -     $ -  
VESSEL HELD FOR SALE
     25,200       -  
VESSELS, NET
     177,292       173,249  
RESTRICTED CASH
     5,537       4,804  
OTHER ASSETS
     3,386       3,682  
      Total assets
   $ 211,415     $ 181,735  
                 
LIABILITIES AND STOCKHOLDERS' EQUITY
                
                 
FINANCIAL INSTRUMENTS
     5,811       4,424  
DEBT
     153,027       141,495  
DEBT RELATED TO VESSEL HELD FOR SALE
     19,592       -  
OTHER LIABILITIES
     19,906       18,163  
                 
Total liabilities
     198,336       164,082  
                 
COMMITMENTS AND CONTINGENCIES
                
                 
STOCKHOLDERS' EQUITY
     13,079       17,653  
                 
      Total liabilities and stockholders' equity
   $ 211,415     $ 181,735  

 
 

 
 
 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
 

     
TOP SHIPS INC.
  
     
(registrant)
  
         
         
Dated: July 30, 3013
  
By:
/s/ Evangelos J. Pistiolis
  
     
Evangelos J. Pistiolis
  
     
Chief Executive Officer