Consolidated Statement of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
CASH FLOW FROM OPERATING ACTIVITIES
Net Income (loss)	$ (1,395,307)	$ (3,077,232)
Adjustments to reconcile net income/ (loss) to net cash provided by operating activities:
Depreciation expense	308,450	306,895
Provision for losses on accounts receivable	0	0
Change in fair value of derivative liabilities	0	629,679
Share-based compensation expense	0	424,940
Loss on disposition of fixed assets	0	0
Amortization of discount on convertible note	250,379	174,292
Amount of derivative in excess of face value of PCN	0	74,590
Elimination of Petrogres Hellas Co	309,672	0
Gain / (loss) on settlement of convertible promissory note	0	83,933
Elimination of PGAS Africa APIC	0	(755,702)
Changes in working capital
(Increase) / Decrease in accounts receivable, net	(335,539)	223,513
(Increase) / Decrease in claims receivable, net	(143,710)	103,355
(Increase) / Decrease in inventories	(112,697)	828,664
(Increase) / Decrease in amounts due from related party	0	720,000
(Increase) / Decrease in prepaid expenses	855,644	741,423
Increase / (Decrease) in accounts payable and accrued expenses	1,512,900	238,427
Increase / (Decrease) in amounts due to related party	(143,201)	(651,414)
Increase / (Decrease) in short-terms loans	87,000	0
Increase / (Decrease) in accrued interest	(13,715)	0
Increase / (Decrease) in lease liabilities	(733,559)	626,401
(Increase) / Decrease in security deposit	5,258	(1,178)
(Increase) / Decrease in deferred charges, net	1,534	8,457
CASH PROVIDED BY OPERATING ACTIVITIES	453,109	699,043
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property, plant and equipment	0	(60,113)
Investments in subsidiaries	(1,547,872)	0
Purchase of vessels and other equipment	172,205	0
Acquisition of intangible assets	669,065	(875,886)
CASH USED IN INVESTING ACTIVITIES	(706,602)	(935,999)
Proceeds from convertible promissory notes	0	0
Proceeds from advances from related party	16,053	0
CASH PROVIDED BY FINANCING ACTIVITIES	16,053	0
Effects of exchange rate changes	0	0
NET DECREASE IN CASH	(237,440)	(236,956)
CASH AT BEGINNING OF YEAR	276,035	391,360
CASH AT PERIOD END	$ 38,595	$ 154,404

PETROGRESS, INC 10-Q