Consolidated Statement of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
CASH FLOW FROM OPERATING ACTIVITIES
Net Income (loss)	$ (2,998,300)	$ (2,618,340)
Adjustments to reconcile net income/ (loss) to net cash provided by operating activities:
Depreciation expense	428,652	465,996
Provision for losses on accounts receivable	0	0
Change in fair value of derivative liabilities	0	(809,877)
Share-based compensation expense	0	1,254,257
Loss on disposition of fixed assets	0
Amortization of discount on convertible note	308,888	174,292
Amount of derivative in excess of face value of PCN	0
Elimination of Petrogres Hellas Co	145,043
Gain/(Loss) on settlement of convertible promissory note	0
Elimination of PGAS Africa APIC	0	(925,574)
Changes in working capital
(Increase) / Decrease in accounts receivable, net	(659,551)	518,835
(Increase) / Decrease in claims receivable, net	226,077	168,355
(Increase) / Decrease in inventories	632,303	(217,824)
(Increase) / Decrease in amounts due from related party	0	720,000
(Increase) / Decrease in prepaid expenses	1,055,644	853,360
Increase / (Decrease) in accounts payable and accrued expenses	1,397,539	1,266,871
Increase / (Decrease) in amounts due to related party	(143,871)	(748,989)
Increase / (Decrease) in short-terms loans	87,000	0
Increase / (Decrease) in accrued interest	(13,553)	683,149
Increase / (Decrease) in lease liabilities	(733,559)	0
(Increase) / Decrease in security deposit	5,258	(1,318)
(Increase) / Decrease in deferred charges, net	1,534	11,276
CASH PROVIDED BY OPERATING ACTIVITIES	(260,896)	794,469
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property, plant and equipment	0	(60,113)
Investments in subsidiaries	(854,687)	0
Purchase of vessels and other equipment	172,205	0
Acquisition of intangible assets	669,065	(872,711)
CASH USED IN INVESTING ACTIVITIES	(13,417)	(932,824)
Proceeds from convertible promissory notes	0	0
Proceeds from advances from related party	16,052	0
CASH PROVIDED BY FINANCING ACTIVITIES	16,052	0
Effects of exchange rate changes	0	0
NET DECREASE IN CASH	(258,261)	(138,355)
CASH AT BEGINNING OF YEAR	276,035	391,360
CASH AT PERIOD END	$ 17,774	$ 253,005

PETROGRESS, INC 10-Q