v3.25.1
Consolidated Statements of Comprehensive Income - USD ($)
 5 Months Ended 10 Months Ended 12 Months Ended
Dec. 31, 2022
Oct. 18, 2022
Dec. 31, 2024
Dec. 31, 2023
Revenues        
Revenues $ 3,287,101 $ 12,847,729 $ 42,296,101 $ 28,738,982
Total revenues 3,287,101 12,847,729 42,296,101 28,738,982
Expenses        
Voyage expenses 456,839 (663,064) 13,597,685 7,291,129
Voyage expenses – related parties 40,833   522,628 340,266
Vessel operating expenses 889,272 (2,380,986) 8,238,848 4,716,536
Vessel operating expenses – related parties 7,000 (22,700) 134,667 79,250
Dry-docking costs 584,355 (799,333) 0 183,090
Depreciation 557,974 (479,171) 6,177,651 4,104,720
Management fees – related parties 77,440 (189,640) 586,960 396,000
General and administrative expenses   (2,397) 2,496,408 679,156
General and administrative expenses – related parties 121,327   479,288 520,874
Net gain on sale of vessel – related party   9,268,610    
Total (expenses)/income 2,735,040 4,731,319 32,234,135 18,311,021
Income from operations 552,061 17,579,048 10,061,966 10,427,961
Other (expenses)/income        
Interest and finance costs (116) (194,633) (13,105) (4,471)
Interest and finance costs – related party     (2,460,705) (1,363,360)
Interest income   59,716 950,816 36,107
Foreign exchange (loss)/gain (359) 15,221 (160,262) 195,675
Loss on warrants     (11,127,077)  
Other expenses, net (475) (119,696) (12,810,333) (1,136,049)
Net income $ 551,586 17,459,352 $ (2,748,367) $ 9,291,912
Other comprehensive income   0    
Total comprehensive income   $ 17,459,352    
Earnings per share (Note 9)        
-Basic $ 259.94   $ (25.73) $ 2,358.9
-Diluted $ 110.78   $ (25.73) $ 946.04
Weighted average number of shares (Note 9)        
-Basic 2,122   314,341 3,615
-Diluted 4,979   314,341 9,742