UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16 OF THE SECURITIES EXCHANGE ACT OF 1934

For the month of August 2015

Commission File Number:  001-33283

EUROSEAS LTD.
(Translation of registrant's name into English)
 
4 Messogiou & Evropis Street
151 24 Maroussi, Greece
(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F [X]       Form 40-F [  ]

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): [  ].

Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): [  ].

Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant's "home country"), or under the rules of the home country exchange on which the registrant's securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant's security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.


INFORMATION CONTAINED IN THIS REPORT ON FORM 6-K

Attached as Exhibit 99.1 to this Report on Form 6-K are the unaudited consolidated condensed financial statements of Euroseas Ltd. (the "Company") for the second quarter of 2015.

This Report on Form 6-K is hereby incorporated by reference into the Company's Registration Statement on Form F-3 (File No. 333-194922) filed with the U.S. Securities and Exchange Commission on March 31, 2014, as amended.





SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 
EUROSEAS LTD.
 
 
 
 
 
 
 
Dated: August 11, 2015
By:
/s/ Aristides J. Pittas
 
 
Name:
Aristides J. Pittas
 
 
Title:
President
 





Exhibit 99.1

Euroseas Ltd.
Unaudited Consolidated Condensed Statements of Operations
(All amounts expressed in U.S. Dollars – except number of shares)

 
  
Three Months Ended
 June 30,
    
Three Months Ended
 June 30,
    
Six Months Ended
 June 30,
    
Six Months Ended
 June 30,
  
 
  
2014
    
2015
    
2014
    
2015
  
   
(unaudited)
    
(unaudited)
  
Revenues
  
   
   
   
 
Voyage revenue
    
10,081,816
      
9,846,372
      
20,048,813
      
18,474,782
  
Related party revenue
    
60,000
      
60,000
      
120,000
      
120,000
  
Commissions
    
(502,688
)
    
(537,786
)
    
(1,030,826
)
    
(1,044,290
)
 
 
Net revenues
    
9,639,128
      
9,368,586
      
19,137,987
      
17,550,492
  
                                 
Operating expenses
                                
Voyage expenses
    
1,002,655
      
432,570
      
1,138,951
      
918,433
  
Vessel operating expenses
    
6,238,260
      
6,545,949
      
12,036,879
      
13,384,584
  
Drydocking expenses
    
1,286,807
      
442,758
      
1,372,211
      
989,309
  
Depreciation
    
2,972,497
      
2,890,476
      
5,825,417
      
5,780,952
  
                          Management fees
    
1,238,792
      
1,047,540
      
2,430,598
      
2,122,035
  
Other general and administrative expenses
    
970,903
      
794,144
      
1,978,792
      
1,712,085
  
Total operating expenses
    
13,709,914
      
12,153,437
      
24,782,848
      
24,907,398
  
                                 
Operating loss
    
(4,070,786
)
    
(2,784,851
)
    
(5,644,861
)
    
(7,356,906
)
                                 
Other income/(expenses)
                                
Interest and finance cost
    
(487,781
)
    
(363,848
)
    
(957,923
)
    
(849,384
)
(Loss) / gain on derivatives, net
    
(54,211
)
    
38,539
      
(95,865
)
    
(165,272
)
Other investment income
    
237,500
      
282,625
      
475,000
      
565,250
  
Foreign exchange gain / (loss)
    
(702
)
    
(2,188
)
    
404
      
33,462
  
Interest income
    
145,653
      
4,233
      
255,269
      
22,205
  
Other (expenses) / income, net
    
(159,541
)
    
(40,639
)
    
(323,115
)
    
(393,739
)
Equity loss in joint venture
 
    
(786,770
)
    
(476,658
)
    
(1,262,204
)
    
(955,540
)
Net loss
    
(5,017,097
)
    
(3,302,148
)
    
(7,230,180
)
    
(8,706,185
)
Dividend Series B Preferred shares
    
(387,055
)
    
(406,773
)
    
(651,416
)
    
(808,524
)
Net loss attributable to common shareholders
    
(5,404,152
)
    
(3,708,921
)
    
(7,881,596
)
    
(9,514,709
)
Loss per share, basic and diluted
    
(0.95
)
    
(0.64
)
    
(1.50
)
    
(1.64
)
Weighted average number of shares, basic and diluted
    
5,688,812
      
5,784,025
      
5,244,685
      
5,784,025
  



Euroseas Ltd.
Unaudited Consolidated Condensed Balance Sheets
(All amounts expressed in U.S. Dollars – except number of shares)

   
December 31,
 2014
    
June 30,
2015
  
         
ASSETS
  
(unaudited)
  
Current Assets:
  
     
    Cash and cash equivalents
    
25,411,420
      
15,667,761
  
    Trade accounts receivable
    
2,189,986
      
1,204,115
  
    Other receivables, net
    
844,720
      
679,497
  
    Inventories
    
1,758,930
      
1,463,280
  
    Restricted cash
    
294,093
      
291,962
  
    Prepaid expenses
    
348,231
      
456,380
  
Total current assets
    
30,847,380
      
19,762,995
  
 
                
Fixed assets:
                
    Vessels, net
    
111,150,227
      
105,369,275
  
    Advances for vessels under construction
    
15,687,490
      
22,428,693
  
Long-term assets:
                
    Restricted cash
    
7,700,000
      
5,200,000
  
    Deferred charges, net
    
335,621
      
673,293
  
    Other Investments
    
6,183,800
      
6,749,050
  
    Investment in joint venture
    
18,674,094
      
17,718,554
  
Total long-term assets
    
159,731,232
      
158,138,865
  
Total assets
    
190,578,612
      
177,901,860
  
 
                
LIABILITIES AND SHAREHOLDERS' EQUITY
                
Current liabilities:
                
    Long term debt, current portion
    
19,512,000
      
18,556,000
  
    Trade accounts payable and accrued expenses
    
3,430,780
      
4,298,698
  
    Deferred revenue
    
803,649
      
730,889
  
    Due to related company
    
1,145,808
      
558,069
  
    Derivatives
    
297,992
      
147,388
  
Total current liabilities
    
25,190,229
      
24,291,044
  
 
                
Long-term liabilities:
                
    Long term debt, net of current portion
    
34,745,000
      
31,265,000
  
    Derivatives
    
779
      
187,328
  
Total long-term liabilities
    
34,745,779
      
31,452,328
  
Total liabilities
    
59,936,008
      
55,743,372
  
                 
Mezzanine equity:
 Series B Preferred shares (par value $0.01, 20,000,000 preferred shares authorized, 32,140 and 32,949 shares issued and outstanding, respectively)
    
30,440,100
      
31,248,624
  
 
                
Shareholders' equity:
                
Common stock (par value $0.03, 200,000,000 shares authorized, 5,715,731 and 5,784,025 issued and outstanding)
    
171,472
      
173,521
  
  Additional paid-in capital
    
268,374,336
      
268,594,355
  
  Accumulated deficit
    
(168,343,304
)
    
(177,858,012
)
 Total shareholders' equity
    
100,202,504
      
90,909,864
  
 Total liabilities and shareholders' equity
    
190,578,612
      
177,901,860
  
                 


Euroseas Ltd.
Unaudited Consolidated Condensed Statements of Cash Flows
 (All amounts expressed in U.S. Dollars)

 
Six Months Ended June 30,
    
Six Months Ended June 30,
  
   
2014
    
2015
  
         
Cash flows from operating activities:
    
Net loss
    
(7,230,180
)
    
(8,706,185
)
Adjustments to reconcile net loss to net cash provided by operating activities:
                
Depreciation of vessels
    
5,825,417
      
5,780,952
  
Amortization of deferred charges
    
61,978
      
75,052
  
Loss in investment in joint venture
    
1,262,204
      
955,540
  
Share-based compensation
    
286,468
      
222,068
  
Unrealized (gain) / loss on derivatives
    
(341,902
)
    
35,945
  
Other investment income accrued
    
(475,000
)
    
(565,250
)
Changes in operating assets and liabilities
    
3,541,086
      
1,406,873
  
a.            Net cash provided by / (used in) operating activities
    
2,930,071
      
(795,005
)
                 
Cash flows from investing activities:
                
Vessel acquisition and advances for vessels under construction
    
(33,230,898
)
    
(6,741,203
)
Change in restricted cash
    
(131,644
)
    
2,502,131
  
b.      Net cash used in investing activities
    
(33,362,542
)
    
(4,239,072
)
                 
Cash flows from financing activities:
                
Proceeds from issuance of common stocks, net
    
14,550,000
      
-
  
Proceeds from issuance of preferred stocks, net
    
29,700,000
      
-
  
Loan fees paid
    
(260,000
)
    
(245,300
)
Offering expenses paid
    
(366,857
)
    
(28,282
)
Proceeds from long term debt
    
23,300,000
      
5,000,000
  
Repayment of long-term debt
    
(9,506,000
)
    
(9,436,000
)
c.            Net cash provided by / (used in) financing activities
    
57,417,143
      
(4,709,582
)
                 
Net increase / (decrease) in cash and cash equivalents
    
26,984,672
      
(9,743,659
)
Cash and cash equivalents at beginning of period
    
11,400,237
      
25,411,420
  
Cash and cash equivalents at end of period
    
38,384,909
      
15,667,761