Company: CMDB
Filing Date: 2025-03-31
Form Type: 20FR12B
Source: 0001140361-25-011425
Chunk: 207

Company: Costamare Bulkers Holdings Ltd
Filing Date: 2025-03-31
Form: 20FR12B
Chunk 207
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 of the U.S. dollar fluctuating in value against those currencies is included in vessel operating expenses. As of December 31, 2024, approximately 9% of our outstanding accounts payable were denominated in currencies other than the U.S. dollar (mainly in the Singapore dollar). We hold cash and cash equivalents mainly in U.S. dollars.

| C. | Research and Development, Patents and Licenses, etc. |

We incur from time to time expenditures relating to inspections for acquiring new vessels. Such expenditures are insignificant and are expensed as they are incurred.

| D. | Trend Information |

See “Item 4. Information on the Company—4.A. Operating Results—Factors Affecting Our Results of Operations” and the discussion contained under the section entitled “The International Dry Bulk Shipping Industry” for more information on trends in the international dry bulk shipping industry.

| E. | Critical Accounting Estimates |

The discussion and analysis of our financial condition and results of operations is based upon our predecessor combined carve-out financial statements, which have been prepared in accordance with GAAP. The preparation of those predecessor combined carve-out financial statements requires us to make estimates and judgments that affect the reported amounts of assets and liabilities, revenues and expenses and related disclosure at the date of our predecessor combined carve-out financial statements. Actual results may differ from these estimates under different assumptions and conditions. Critical accounting policies are those that reflect significant judgments of uncertainties and potentially result in materially different results under different assumptions and conditions. We describe below what we believe are our most critical accounting policies, because they generally involve a comparatively higher degree of judgment in their application. For a description of all our significant accounting policies, see Note 2 to our predecessor audited combined carve-out financial statements included elsewhere in this registration statement. Vessel Impairment We review our owned vessels for impairment whenever events or changes in circumstances indicate that the carrying amount of a vessel might not be recoverable. We consider information, such as vessel sales and purchases, business plans and overall market conditions in order to determine if an impairment might exist. As part of the identification of impairment indicators and Step 1 of impairment analysis, we compute estimates of the future undiscounted net operating cash flows for each vessel based on assumptions regarding time charter rates, vessels’ operating expenses, vessels’ capital expenditures, vessels’ residual value, fleet utilization and the estimated remaining useful life of each vessel. The future undiscounted net operating cash flows are determined as the sum of (x) (i) the charter revenues from existing