Company: CMDB
Filing Date: 2025-03-31
Form Type: 20FR12B
Source: 0001140361-25-011425
Chunk: 328

Company: Costamare Bulkers Holdings Ltd
Filing Date: 2025-03-31
Form: 20FR12B
Chunk 328
---
 statements are issued. As part of such evaluation, the Company did not identify any conditions that raise substantial doubt about the entity’s ability to continue as a going concern. Accordingly, the Company continues to adopt the going concern basis in preparing its consolidated financial statements. New Accounting Pronouncements In November 2024, the FASB issued ASU 2024-03, “Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses”. The standard is intended to require more detailed disclosure about specified categories of expenses (including employee compensation, depreciation, and amortization) included in certain expense captions presented on the face of the income statement. This ASU is effective for fiscal years beginning after December 15, 2026, and for interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. The amendments may be applied either prospectively to financial statements issued for reporting periods after the effective date of this ASU or retrospectively to all prior periods presented in the financial statements. The Company is currently assessing the impact this standard will have on its consolidated financial statements.

F-45

#### TABLE OF CONTENTS

### COSTAMARE BULKERS HOLDINGS LIMITED

### Notes to Consolidated Financial Statements

#### December 31, 2023 and 2024
(Expressed in U.S. dollars, except share and per share data, unless otherwise stated)

#### 3. Due to related parties
In December 2024, certain of the Costamare’s subsidiaries (Note 1), Costamare, CMDB and CBSI entered into four new loan agreements. Said subsidiaries are borrowers under these loan agreements and CMDB and/or CBSI will become guarantors under the loan agreements immediately upon completion of the spin-off (Note 1). Under one of these loan agreements, Costamare transferred an amount of $2.1 million to CBSI’s bank account with the relevant bank to serve as pledged liquidity. During the year ended December 31, 2024, the interest earned on the pledged liquidity amounted to $6,105 and is separately reflected as Interest income in the accompanying 2024 consolidated statement of income.

#### 4. Common Stock
Common Stock represents 10,000 CMDB’s common shares issued to Costamare on July 11, 2024 at a par value of $0.0001 per common share.

#### 5. Subsequent events
(a)