Company: ASC
Filing Date: 2025-05-07
Form Type: 6-K
Source: 0001558370-25-006618
Chunk: 19

Company: Ardmore Shipping Corp
Filing Date: 2025-05-07
Form: 6-K
Chunk 19
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 the disclosure of geographic information impracticable. The Company operates under one reportable segment for its vessel operations, based on how internally reported financial information is reviewed by the CODM to analyze performance, make decisions and allocate resources. The accounting policies of the vessel operations segment are the same as those described in the summary of significant accounting policies. The CODM assesses performance for the vessel operations segment and decides how to allocate resources based on consolidated net income. The Company does not have intra-entity sales or transfers. The Company’s CODM is the senior management team that includes the chief executive officer, president and chief financial officer, chief operating officer, senior vice president of commercial and the senior director of corporate services. The CODM uses consolidated net income to analyze income generated by the Company’s assets and how to allocate the corresponding cash flow according to the Company’s capital and resources focusing on maintaining the Company’s fleet, deleveraging, pursuing accretive growth opportunities, and returning capital to shareholders. The CODM monitors budget versus actual results and the results of publicly reported competitors to assess the performance of the segment and establish a basis for management’s discretionary compensation.

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#### Ardmore Shipping CorporationNotes to the Unaudited Interim Condensed Consolidated Financial StatementsFor the three months ended March 31, 2025 and March 31, 2024(Expressed in thousands of U.S. Dollars, except for shares and as otherwise stated)

#### 3.Equity InvestmentsElement 1 Corp.-On June 17, 2021, the Company purchased a10% equity stake in Element 1 Corp (“E1”), a developer of advanced hydrogen generation systems used to power fuel cells. The Company’s10% equity stake consists of581,795shares of E1’s common stock and the Company also received warrants to purchase286,582additional common shares of E1 common stock, which warrants expired unexercised in June 2024. The Company holdsoneboard seat out offive, resulting in20% voting rights at the board level and thus an ability to exercise significant influence in E1. Accordingly, the Company accounts for the investment in the common shares of E1 using the equity method in accordance with FASB Accounting Standards Codification 323, Investments – Equity Method and Joint Ventures (“ASC 323”).The Company records its share of earnings and losses in its investment in E1 on a quarterly basis, with an aggregate loss of $0.1million recognized during the three