Exhibit 99.1

 

LOGO

IMPERIAL PETROLEUM INC.

IMPERIAL PETROLEUM INC. Reports Q1 26 results, SECOND BEST QUARTERLY results in its history

ATHENS, GREECE, May 22, 2026 - IMPERIAL PETROLEUM INC. (NASDAQ: IMPP; the “Company”), a ship-owning company providing petroleum products, crude oil and dry bulk seaborne transportation services, announced today its unaudited financial and operating results for the first quarter ended March 31, 2026.

OPERATIONAL AND FINANCIAL HIGHLIGHTS

 

  •  

Fleet operational utilization of 88.7% in Q1 26’ compared to 91.8% in Q4 25’ and 83.8% in Q1 25’.

 

  •  

Approximately 59% of total fleet calendar days in Q1 26’ were dedicated to time charter activity while approximately 39% to spot activity.

 

  •  

Delivery of the dry bulk carrier, Eco Crossfire, on April 3, 2026 which increased our fleet on the water to 21 vessels; the remaining four contracted dry bulk carriers and one tanker are scheduled to be delivered by end of Q3 26’ bringing our total fleet to 26 ships.

 

  •  

In Q1 26’ Imperial Petroleum marked its second- best quarterly performance.

 

  •  

Revenues of $61.7 million in Q1 26’ compared to $51.1 million in Q4 25’ and $32.1 million in Q1 25’, representing a 20.7% increase and a 92.2% increase, respectively.

 

  •  

Impressive increase of our operating income to $26.5 million in Q1 26’, marking a $12.8 million or 93.4% increase compared to Q4 25’ and a $18.7 million or 239.7% increase compared to Q1 25’.

 

  •  

Net income generation of $28.0 million in Q1 26’- the second best in our history- compared to $15.0 million in Q4 25’, and $11.3 million in Q1 25’, representing a 86.7% and 147.8% increase, respectively.

 

  •  

Basic EPS of $0.60 in Q1 26’.

 

  •  

EBITDA1 of $34.4 million for Q1 26’.

 

  •  

Continued enhancement of our liquidity through efficient vessel operations; cash and cash equivalents including time deposits of $212.6 million as of March 31, 2026 compared to $179.1 million as of December 31, 2025.

 

  •  

Under the $10 million stock repurchase program, the Company has repurchased up to May 21, 2026 a total of 855,769 common shares for an aggregate amount of $3.8 million.

First Quarter 2026 Results:

 

  •  

Revenues for the three months ended March 31, 2026 amounted to $61.7 million, an increase of $29.6 million, or 92.2%, compared to revenues of $32.1 million for the three months ended March 31, 2025, primarily due to the increase in the average number of vessels in our fleet by 7.98, along with an increase in tanker rates, particularly for suezmax tankers following the outbreak of the Middle East conflict.

 

  •  

Voyage expenses and vessels’ operating expenses for the three months ended March 31, 2026 were $12.8 million and $11.2 million, respectively, compared to $10.5 million and $7.1 million, respectively, for the three months ended March 31, 2025. The $2.3 million increase in voyage expenses is mainly attributed to a 25.2% increase in the number of spot days and increased port expenses due to higher number of transits through the Suez Canal mainly for the suezmax tankers. The $4.1 million increase in vessels’ operating expenses is primarily due to the increase in the average number of vessels in our fleet by 7.98.

  •  

Drydocking costs for the three months ended March 31, 2026 and 2025 were $1.4 million and nil, respectively. During the three months ended March 31, 2026, our bulk carrier, Post Marvel, underwent drydocking whereas in the three months ended March 31, 2025, no vessel underwent drydocking.

 

  •  

General and administrative costs for the three months ended March 31, 2026 and 2025 were $1.1 million and $1.2 million, respectively. This decrease is mainly attributed to the decrease in stock-based compensation costs.

 

  •  

Depreciation for the three months ended March 31, 2026 and 2025 was $7.9 million and $5.0 million, respectively. The change is attributable to the increase in the average number of vessels in our fleet.

 

  •  

Management fees for the three months ended March 31, 2026 and 2025 were $0.8 million and $0.5 million, respectively. The change is attributable to the increase in the average number of vessels in our fleet.

 

  •  

Interest and finance costs for the three months ended March 31, 2026 and 2025 were $0.2 million and $0.6 million, respectively. The $0.2 million of costs for the three months ended March 31, 2026 relate mainly to accrued interest expense – related party in connection with the $19.16 million part of the acquisition price of our bulk carrier, Post Marvel, whereas the $0.6 million of costs for the three months ended March 31, 2025 related mainly to accrued interest expense – related party in connection with the $14.0 million and $24.0 million part of the acquisition prices of our bulk carriers, Neptulus and Clean Imperial, respectively, which completely settled in the second quarter of 2025. For accounting purposes, the outstanding balances payable on the vessels were required to be allocated between principal and imputed interest, despite the fact that no interest was contractually charged by the sellers. The total amount ultimately paid remains consistent with the originally agreed purchase prices.

 

  •  

Interest income for the three months ended March 31, 2026 and 2025 was $1.8 million and $2.2 million, respectively. The $0.4 million decrease is mainly attributed to a lower amount of funds placed under time deposits along with a decrease in time deposit rates.

 

  •  

Foreign exchange (loss)/gain for the three months ended March 31, 2026 and 2025 was a loss of $0.3 million and a gain of $1.7 million, respectively. The $0.3 million foreign exchange loss for the three months ended March 31, 2026, is mainly attributed the weakening of the euro currency against the dollar at the end of the three months ended March 31, 2026 when compared to the respective currency values prevailing at the end of year 2025.

 

  •  

As a result of the above, for the three months ended March 31, 2026, the Company reported net income of $28.0 million, compared to net income of $11.3 million for the three months ended March 31, 2025. Dividends paid on Series A Preferred Shares amounted to $0.4 million for the three months ended March 31, 2026. The weighted average number of shares of common stock outstanding, basic, for the three months ended March 31, 2026 was 45.3 million. Earnings per share, basic and diluted, for the three months ended March 31, 2026 amounted to $0.60 and $0.57, respectively, compared to earnings per share, basic and diluted, of $0.32 and $0.30, respectively, for the three months ended March 31, 2025.

 

  •  

Adjusted net income1 was $28.6 million corresponding to an Adjusted EPS1, basic of $0.61 for the three months ended March 31, 2026 compared to an Adjusted net income of $12.2 million corresponding to an Adjusted EPS, basic, of $0.34 for the same period of last year.

 

  •  

EBITDA1 for the three months ended March 31, 2026 amounted to $34.4 million, while Adjusted EBITDA1 for the three months ended March 31, 2026 amounted to $34.9 million.

 

  •  

An average of 19.88 vessels were owned by the Company during the three months ended March 31, 2026 compared to 11.90 vessels for the same period of 2025.

 

1 

EBITDA, Adjusted EBITDA, Adjusted Net Income and Adjusted EPS are non-GAAP measures. Refer to the reconciliation of these measures to the most directly comparable financial measure in accordance with GAAP set forth later in this release. Reconciliations of Adjusted Net Income, EBITDA and Adjusted EBITDA to Net Income are set forth below.

Fleet Employment Table

As of May 22, 2026, the profile and deployment of our fleet is the following:

 

Name    Year
Built		      Country
Built		      Vessel Size
(dwt)		      Vessel
Type		      Employment
Status		      Expiration of
Charter(1)		  

Tankers

                  

Magic Wand

      2008        Korea        47,000        MR product tanker        Spot     

Clean Thrasher

      2008        Korea        47,000        MR product tanker        Spot     

Clean Sanctuary (ex. Falcon Maryam)

      2009        Korea        46,000        MR product tanker        Spot     

Clean Nirvana

      2008        Korea        50,000        MR product tanker        Spot     

Clean Justice

      2011        Japan        46,000        MR product tanker        Time Charter        September 27  

Aquadisiac

      2008        Korea        51,000        MR product tanker        Spot     

Clean Imperial

      2009        Korea        40,000        MR product tanker        Spot     

Suez Enchanted

      2007        Korea        160,000        Suezmax tanker        Spot     

Suez Protopia

      2008        Korea        160,000        Suezmax tanker        Spot     

Drybulk Carriers

                  

Eco Wildfire

      2013        Japan        33,000        Handysize drybulk        Time Charter        June 26  

Glorieuse

      2012        Japan        38,000        Handysize drybulk        Spot     

Neptulus

      2012        Japan        33,000        Handysize drybulk        Time Charter        June 26  

Supra Pasha

      2012        Japan        56,000        Supramax drybulk        Time Charter        June 26  

Supra Monarch

      2011        Japan        56,000        Supramax drybulk        Time Charter        July 26  

Supra Baron

      2009        Japan        56,000        Supramax drybulk        Time Charter        June 26  

Supra Sovereign

      2012        Japan        56,000        Supramax drybulk        Spot     

Supra Duke

      2011        Japan        56,000        Supramax drybulk        Spot     

Eco Sikousis

      2008        Japan        82,000        Kamsarmax drybulk        Time Charter        June 26  

Eco Czar

      2009        Japan        82,000        Kamsarmax drybulk        Time Charter        June 26  

Post Marvel

      2013        Japan        96,000        Post Panamax        Time Charter        June 26  

Eco Crossfire

      2012        Japan        33,000        Handysize drybulk        Time Charter        June 26  

Fleet Total (2)

            1,324,000 dwt           

 

(1)

Earliest date charters could expire.

(2)

We have agreements to acquire an additional four handysize drybulk carriers of 140,400 dwt aggregate capacity and a product tanker of 50,000 dwt capacity, with deliveries scheduled by the end of Q3 2026.

CEO Harry Vafias Commented

We are extremely pleased with our first quarter 2026 results. With a net income of $28 million, corresponding to a basic EPS of $0.60 per share, we generated the second-best quarterly profitability in the Company’s history. Geopolitical tensions persist, creating turbulence across global markets and the shipping industry in particular. The ongoing Middel East conflict has driven tanker market rates to peak levels, while dry bulk market rates have also firmed.

In this environment, we successfully capitalized upon our sizeable fleet. Our expansion strategy continues to deliver strong results, and we believe that our active share repurchase program will help our share price better reflect the Company’s true underlying value — a fleet of 21 vessels on the water with 5 more to be delivered shortly, ample liquidity in excess of $220 million, a consistently profitable track record, and a completely debt-free balance sheet.

Conference Call details:

On May 22, 2026 at 10:00 am ET, the company’s management will host a conference call to discuss the results and the company’s operations and outlook.

Online Registration:

Conference call participants should pre-register using the below link to receive the dial-in numbers and a personal PIN, which are required to access the conference call.

https://register-conf.media-server.com/register/BI022e66c574874022b745c61aed82e1a1

Slides and audio webcast:

There will also be a live and then archived webcast of the conference call, through the IMPERIAL PETROLEUM INC. website (www.ImperialPetro.com). Participants to the live webcast should register on the website approximately 10 minutes prior to the start of the webcast.

About IMPERIAL PETROLEUM INC.

IMPERIAL PETROLEUM INC. is a ship-owning company providing petroleum products, crude oil and drybulk seaborne transportation services. The Company owns a total of twenty-one vessels on the water - seven M.R. product tankers, two suezmax tankers, four handysize drybulk carriers, five supramax drybulk carriers, two kamsarmax drybulk vessels and a post panamax drybulk carrier - with a total capacity of approximately 1,324,000 deadweight tons (dwt) and has contracted to acquire an additional four handysize drybulk carriers and a product tanker of 190,400 dwt aggregate capacity. Following these deliveries, the Company’s fleet will count a total of 26 vessels with an aggregate capacity of about 1.5 million dwt. IMPERIAL PETROLEUM INC.’s shares of common stock and 8.75% Series A Cumulative Redeemable Perpetual Preferred Stock are listed on the Nasdaq Capital Market and trade under the symbols “IMPP” and “IMPPP,” respectively.

Forward-Looking Statements

Matters discussed in this release may constitute forward-looking statements. Forward-looking statements reflect our current views with respect to future events and financial performance and may include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, management’s examination of historical operating trends, data contained in our records and other data available from third parties. Although IMPERIAL PETROLEUM INC. believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, IMPERIAL PETROLEUM INC. cannot assure you that it will achieve or accomplish these expectations, beliefs or projections. Important factors that, in our view, could cause actual results to differ materially from those

discussed in the forward-looking statements include the strength of world economies and currencies, geopolitical conditions, including any trade disruptions resulting from tariffs and other protectionist measures imposed by the United States or other countries, general market conditions, including changes in charter hire rates and vessel values, charter counterparty performance, changes in demand that may affect attitudes of time charterers to scheduled and unscheduled drydockings, changes in IMPERIAL PETROLEUM INC’s operating expenses, including bunker prices, drydocking and insurance costs, ability to obtain financing and comply with covenants in our financing arrangements, actions taken by regulatory authorities, potential liability from pending or future litigation, domestic and international political conditions, the conflict in Ukraine and related sanctions, the conflicts in the Middle East, potential disruption of shipping routes due to ongoing attacks by Houthis in the Red Sea and Gulf of Aden or accidents and political events or acts by terrorists.

Risks and uncertainties are further described in reports filed by IMPERIAL PETROLEUM INC. with the U.S. Securities and Exchange Commission.

Fleet List and Fleet Deployment

For information on our fleet and further information:

Visit our website at www.ImperialPetro.com

Company Contact:

Fenia Sakellaris

IMPERIAL PETROLEUM INC.

E-mail: info@ImperialPetro.com

Fleet Data:

The following key indicators highlight the Company’s operating performance during the three month periods ended March 31, 2025 and 2026.

 

FLEET DATA

    Q1 2025     Q1 2026  

Average number of vessels (1)

      11.90       19.88  

Period end number of owned vessels in fleet

      12       20  

Total calendar days for fleet (2)

      1,071       1,789  

Total voyage days for fleet (3)

      1,067       1,764  

Fleet utilization (4)

      99.6 %      98.6 % 

Total charter days for fleet (5)

      504       1,059  

Total spot market days for fleet (6)

      563       705  

Fleet operational utilization (7)

      83.8 %      88.7 % 

 

1)

Average number of vessels is the number of owned vessels that constituted our fleet for the relevant period, as measured by the sum of the number of days each vessel was a part of our fleet during the period divided by the number of calendar days in that period.

2)

Total calendar days for fleet are the total days the vessels we operated were in our possession for the relevant period including off-hire days associated with major repairs, drydockings or special or intermediate surveys.

3)

Total voyage days for fleet reflect the total days the vessels we operated were in our possession for the relevant period net of off-hire days associated with major repairs, drydockings or special or intermediate surveys.

4)

Fleet utilization is the percentage of time that our vessels were available for revenue generating voyage days and is determined by dividing voyage days by fleet calendar days for the relevant period.

5)

Total charter days for fleet are the number of voyage days the vessels operated on time or bareboat charters for the relevant period.

6)

Total spot market charter days for fleet are the number of voyage days the vessels operated on spot market charters for the relevant period.

7)

Fleet operational utilization is the percentage of time that our vessels generated revenue and is determined by dividing voyage days excluding idle days by fleet calendar days for the relevant period.

Reconciliation of Adjusted Net Income, EBITDA, adjusted EBITDA and adjusted EPS:

Adjusted net income represents net income before share based compensation. EBITDA represents net income before interest and finance costs, interest income and depreciation. Adjusted EBITDA represents net income before interest and finance costs, interest income, depreciation and share based compensation.

Adjusted EPS represents Adjusted net income divided by the weighted average number of shares. EBITDA, adjusted EBITDA, adjusted net income and adjusted EPS are not recognized measurements under U.S. GAAP. Our calculation of EBITDA, adjusted EBITDA, adjusted net income and adjusted EPS may not be comparable to that reported by other companies in shipping or other industries. In evaluating Adjusted EBITDA, Adjusted net income and Adjusted EPS, you should be aware that in the future we may incur expenses that are the same as or similar to some of the adjustments in this presentation.

EBITDA, adjusted EBITDA, adjusted net income and adjusted EPS are included herein because they are a basis, upon which we and our investors assess our financial performance. They allow us to present our performance from period to period on a comparable basis and provide investors with a means of better evaluating and understanding our operating performance. Management also uses these non-GAAP financial measures in making financial, operating and planning decisions and in evaluating our performance.

(Expressed in United States Dollars,
except number of shares)

    First Quarter Ended March 31st,  
     2025     2026  

Net Income - Adjusted Net Income

     

Net income

      11,290,986       28,021,088  

Plus share based compensation

      889,076       581,705  

Adjusted Net Income

      12,180,062       28,602,793  

Net income – EBITDA

     

Net income

      11,290,986       28,021,088  

Plus interest and finance costs

      606,383       208,552  

Less interest income

      (2,184,394 )      (1,810,441 ) 

Plus depreciation

      5,002,837       7,930,925  

EBITDA

      14,715,812       34,350,124  

Net income - Adjusted EBITDA

     

Net income

      11,290,986       28,021,088  

Plus share based compensation

      889,076       581,705  

Plus interest and finance costs

      606,383       208,552  

Less interest income

      (2,184,394 )      (1,810,441 ) 

Plus depreciation

      5,002,837       7,930,925  

Adjusted EBITDA

      15,604,888       34,931,829  

EPS

     

Numerator

     

Net income

      11,290,986       28,021,088  

Less: Cumulative dividends on preferred shares

      (435,246 )      (435,246 ) 

Less: Undistributed earnings allocated to non-vested shares

      (453,265 )      (512,627 ) 

Net income attributable to common shareholders, basic

      10,402,475       27,073,215  

Denominator

     

Weighted average number of shares

      32,944,925       45,325,162  

EPS - Basic

      0.32       0.60  

Adjusted EPS

     

Numerator

     

Adjusted net income

      12,180,062       28,602,793  

Less: Cumulative dividends on preferred shares

      (435,246 )      (435,246 ) 

Less: Undistributed earnings allocated to non-vested shares

      (490,387 )      (523,437 ) 

Adjusted net income attributable to common shareholders, basic

      11,254,429       27,644,110  

Denominator

     

Weighted average number of shares

      32,944,925       45,325,162  

Adjusted EPS, Basic

      0.34       0.61  

Imperial Petroleum Inc.

Unaudited Consolidated Statements of Income

(Expressed in United States Dollars, except for number of shares)

 

 

     Quarters Ended March 31,  
     2025     2026  

Revenues

     

Revenues

      32,091,626       61,713,395  

Expenses

     

Voyage expenses

      10,054,114       12,006,915  

Voyage expenses - related party

      401,753       749,439  

Vessels’ operating expenses

      7,021,928       11,074,868  

Vessels’ operating expenses - related party

      98,500       175,000  

Drydocking costs

      —        1,433,739  

Management fees – related party

      471,240       787,160  

General and administrative expenses

      1,217,977       1,054,422  

Depreciation

      5,002,837       7,930,925  
  

 

 

    

 

 

  

Total expenses

      24,268,349       35,212,468  
  

 

 

    

 

 

  

Income from operations

      7,823,277       26,500,927  
  

 

 

    

 

 

  

Other (expenses)/income

     

Interest and finance costs

      (3,607 )      (4,147 ) 

Interest expense – related party

      (602,776 )      (204,405 ) 

Interest income

      2,184,394       1,810,441  

Dividend income from related party

      187,500       187,500  

Foreign exchange gain/(loss)

      1,702,198       (269,228 ) 
  

 

 

    

 

 

  

Other income, net

      3,467,709       1,520,161  
  

 

 

    

 

 

  

Net Income

      11,290,986       28,021,088  
  

 

 

    

 

 

  

Earnings per share

     

- Basic

      0.32       0.60  
  

 

 

    

 

 

  

- Diluted

      0.30       0.57  
  

 

 

    

 

 

  

Weighted average number of shares

     

-Basic

      32,944,925       45,325,162  
  

 

 

    

 

 

  

-Diluted

      34,258,803       47,612,633  
  

 

 

    

 

 

  

Imperial Petroleum Inc.

Unaudited Consolidated Balance Sheets

(Expressed in United States Dollars)

 

 

     December 31,
2025		     March 31,
2026		  

Assets

     

Current assets

     

Cash and cash equivalents

      5,771,505       71,871,069  

Time deposits

      173,282,440       140,724,320  

Trade and other receivables

      13,403,555       13,555,204  

Other current assets

      1,107,956       1,516,332  

Claims receivables

      479,488       479,488  

Inventories

      4,720,873       9,872,856  

Advances and prepayments

      245,014       283,909  
  

 

 

    

 

 

  

Total current assets

      199,010,831       238,303,178  
  

 

 

    

 

 

  

Non current assets

     

Operating lease right-of-use asset

      —        286,997  

Vessels, net

      335,406,781       349,044,856  

Investment in related party

      12,990,167       12,794,333  
  

 

 

    

 

 

  

Total non current assets

      348,396,948       362,126,186  
  

 

 

    

 

 

  

Total assets

      547,407,779       600,429,364  
  

 

 

    

 

 

  

Liabilities and Stockholders’ Equity

     

Current liabilities

     

Trade accounts payable

      5,959,924       9,669,613  

Payable to related parties

      3,038,447       23,338,869  

Accrued liabilities

      4,195,986       5,307,874  

Operating lease liability, current portion

      —        96,892  

Deferred income

      3,399,325       2,854,826  
  

 

 

    

 

 

  

Total current liabilities

      16,593,682       41,268,074  
  

 

 

    

 

 

  

Non current liabilities

     

Operating lease liability, non current portion

      —        190,105  
  

 

 

    

 

 

  

Total non current liabilities

      —        190,105  
  

 

 

    

 

 

  

Total liabilities

      16,593,682       41,458,179  
  

 

 

    

 

 

  

Commitments and contingencies

     

Stockholders’ equity

     

Common stock

      489,006       500,006  

Preferred Stock, Series A

      7,959       7,959  

Preferred Stock, Series B

      160       160  

Treasury stock

      (8,390,225 )      (10,590,684 ) 

Additional paid-in capital

      344,445,271       347,205,976  

Retained earnings

      194,261,926       221,847,768  
  

 

 

    

 

 

  

Total stockholders’ equity

      530,814,097       558,971,185  
  

 

 

    

 

 

  

Total liabilities and stockholders’ equity

      547,407,779       600,429,364  
  

 

 

    

 

 

  

Imperial Petroleum Inc.

Unaudited Consolidated Statements of Cash Flows

(Expressed in United States Dollars

 

 

     Three Month Periods Ended
March 31,		  
     2025     2026  

Cash flows from operating activities

     

Net income for the period

      11,290,986       28,021,088  

Adjustments to reconcile net income to net cash provided by operating activities:

     

Depreciation

      5,002,837       7,930,925  

Non - cash lease expense

      18,552       23,389  

Share based compensation

      889,076       581,705  

Unrealized foreign exchange (gain)/loss on time deposits

      (358,420 )      258,120  

Changes in operating assets and liabilities:

     

(Increase)/decrease in

     

Trade and other receivables

      4,683,534       (151,649 ) 

Other current assets

      585,395       (408,376 ) 

Inventories

      601,241       (5,151,983 ) 

Changes in operating lease liabilities

      (18,522 )      (23,389 ) 

Advances and prepayments

      40,704       (38,895 ) 

Due from related parties

      4,167       195,834  

Increase/(decrease) in

     

Trade accounts payable

      679,226       3,709,689  

Due to related parties

      (3,369,040 )      927,184  

Accrued liabilities

      234,447       1,111,888  

Deferred income

      393,331       (544,499 ) 
  

 

 

    

 

 

  

Net cash provided by operating activities

      20,677,484       36,441,031  
  

 

 

    

 

 

  

Cash flows from investing activities

     

Acquisition and improvement of vessels

      (4,350 )      —   

Increase in bank time deposits

      (57,958,390 )      (122,450,000 ) 

Maturity of bank time deposits

      96,364,791       154,750,000  
  

 

 

    

 

 

  

Net cash provided by investing activities

      38,402,051       32,300,000  
  

 

 

    

 

 

  

Cash flows from financing activities

     

Stock repurchase

      —        (2,200,459 ) 

Dividends paid on preferred shares

      (342,616 )      (441,008 ) 
  

 

 

    

 

 

  

Net cash used in financing activities

      (342,616 )      (2,641,467 ) 
  

 

 

    

 

 

  

Net increase in cash and cash equivalents

      58,736,919       66,099,564  

Cash and cash equivalents at beginning of period

      67,783,531       5,771,505  
  

 

 

    

 

 

  

Cash and cash equivalents at end of period

      126,520,450       71,871,069  
  

 

 

    

 

 

  

Cash breakdown

     

Cash and cash equivalents

      126,520,450       71,871,069  
  

 

 

    

 

 

  

Total cash and cash equivalents shown in the statements of cash flows

      126,520,450       71,871,069