v3.25.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Current assets    
Cash and cash equivalents $ 4,640,343 $ 695,288
Time deposits 7,948,706 8,368,417
Trade and other receivables 2,815,442 10,443,497
Other current assets 0 33,846
Operating lease right-of-use assets 28,768 0
Advances and prepayments 21,951 80,267
Inventories 884,148 689,269
Total current assets 16,339,358 20,310,584
Non current assets    
Vessels, net 84,149,805 75,161,431
Total non current assets 84,149,805 75,161,431
Total assets 100,489,163 95,472,015
Current liabilities    
Trade accounts payable 908,342 547,017
Accrued and other liabilities 1,272,095 634,297
Operating lease liabilities 28,768 0
Deferred income 162,108 215,836
Total current liabilities 18,690,874 39,928,166
Warrant liability 10,437,034 0
Total non current liabilities 10,437,034 0
Total liabilities 29,127,908 39,928,166
Commitments and contingencies
Capital stock, $0.01 par value, 2,000,000,000 shares authorized at December 31, 2023 and 2024, 5,829 and 706,500 issued and outstanding at December 31, 2023 and 2024, respectively (Note 8) 7,065 58
Additional paid-in capital 71,091,138 47,191,872
Retained earnings 257,052 8,345,919
Total stockholders' equity 71,361,255 55,543,849
Total liabilities and stockholders' equity 100,489,163 95,472,015
Series A Preferred Stock [Member]    
Current liabilities    
Preferred Stock, 200,000,000 shares authorized (Note 8) Preferred stock, Series A, $0.01 par value, 600,000 shares issued and outstanding as of December 31, 2023 and December 31, 2024 (Note 8) 6,000 6,000
Related Party [Member]    
Current liabilities    
Payable to related parties $ 16,319,561 $ 38,531,016