v3.25.2
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 675,771 $ 4,640,343
Time deposits 1,600,000 7,948,706
Trade and other receivables 5,682,159 2,815,442
Other current assets 27,891 0
Inventories 1,142,233 884,148
Advances and prepayments 18,193 21,951
Operating lease right-of-use assets 58,525 28,768
Total current assets 9,204,772 16,339,358
Non current assets    
Vessels, net 80,898,864 84,149,805
Total non current assets 80,898,864 84,149,805
Total assets 90,103,636 100,489,163
Current liabilities    
Trade accounts payable 1,350,901 908,342
Accrued and other liabilities 1,223,554 1,272,095
Operating lease liabilities 58,525 28,768
Deferred income 115,667 162,108
Total current liabilities 5,712,947 18,690,874
Non current liabilities    
Warrant liability 9,799,073 10,437,034
Total non current liabilities 9,799,073 10,437,034
Total liabilities 15,512,020 29,127,908
Commitments and contingencies
Common Stock 9,239 7,065
Additional paid-in capital 73,926,017 71,091,138
Retained earnings 650,360 257,052
Total stockholders' equity 74,591,616 71,361,255
Total liabilities and stockholders' equity 90,103,636 100,489,163
Series A Preferred Stock [Member]    
Non current liabilities    
Preferred Stock, 200,000,000 shares authorized Preferred stock, Series A, $0.01 par value, 600,000 shares issued and outstanding as of December 31, 2024 and June 30, 2025 6,000 6,000
Related Party [Member]    
Current liabilities    
Payable to related parties $ 2,964,300 $ 16,319,561