v3.25.2
Condensed Consolidated Statements of Comprehensive Income - USD ($)
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Revenues    
Revenues $ 19,408,005 $ 23,619,205
Total revenues 19,408,005 23,619,205
Expenses    
Voyage expenses 7,343,749 5,680,135
Voyage expenses – related party 237,802 295,839
Vessels' operating expenses 4,489,982 3,730,571
Vessels' operating expenses – related party 66,500 67,167
Drydocking costs 78,701 0
Management fees – related party 318,560 263,120
General and administrative expenses 1,059,681 1,883,512
General and administrative expenses – related party 270,245 225,445
Depreciation 3,250,941 2,926,709
Total expenses 17,116,161 15,072,498
Income from operations 2,291,844 8,546,707
Other (expenses)/income    
Interest and finance costs (4,192) (8,592)
Interest and finance costs – related parties (365,935) (1,691,831)
Interest income 177,264 642,567
Foreign exchange loss (18,822) (282,647)
(Loss)/gain on warrants 508,232 (15,176,536)
Other (expenses)/income, net 296,547 (16,517,039)
Net (loss)/income $ 2,588,391 $ (7,970,332)
(Loss)/earnings per share (Note 9)    
-Basic $ 0.52 $ (47.82)
-Diluted $ (0.06) $ (47.82)
Weighted average number of shares (Note 9)    
-Basic 733,370 234,474
-Diluted 1,804,320 234,474