v3.25.2
Unaudited Interim Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 11,282,772 $ 20,029,506
Receivables from related parties (Note 3) 7,248,319 8,313,623
Accounts receivable, net 3,767,108  
Other receivables (Note 3) 724,675 930,381
Inventories 1,435,430 612,165
Prepayments and other current assets 1,427,598 366,100
Current assets of discontinued operations (Note 14) 173,454  
Total current assets 26,059,356 30,251,775
Non-current assets    
Right-of-use assets from operating leases (Note 7) 45,076,987 5,047,490
Property and equipment, net 294,484 317,510
Guarantees 158,294 143,445
Goodwill (Note 9) 344,156 344,156
Intangible assets, net (Note 9) 405,628 420,328
Investment in joint venture (Note 10) 47,773 1,569,573
Other fixed assets 27,219 27,219
Non-current assets of discontinued operations (Note 14) 161,488  
Total non-current assets 46,516,029 7,869,721
Total assets 72,575,385 38,121,496
Current liabilities    
Payables to vessel owners 2,950,944 5,085,232
Accounts payable and accrued expenses 5,554,424 1,730,308
Payable to sharing partner and assignee (Note 8) 700,330 1,343,098
Payables to assignee, related party (Note 3) 60,892 60,892
Payables to shareholder (Note 3) 5,239,219 5,239,219
Acquisition installments payable, current portion (Note 9) 156,918 177,237
Deferred revenue   1,116,000
Operating lease liabilities, current portion (Note 7) 8,454,000 4,889,539
Total current liabilities 23,116,727 19,641,525
Non-current liabilities    
Acquisition installments payable, net of current portion (Note 9) 9,338 84,968
Operating lease liabilities, non-current portion (Note 7) 36,643,874 179,593
Total non-current liabilities 36,653,212 264,561
Total liabilities 59,769,939 19,906,086
Commitments and contingencies (Note 11)
Stockholders' equity    
Common stock ($0.001 par value, 450,000,000 shares authorized and 58,163,341 issued and outstanding as of June 30, 2025, 100 shares authorized issued and outstanding as of December 31, 2024) (Notes 15,16) 58,163  
Additional paid-in capital 25,981,443 4,225,265
Accumulated other comprehensive income 1,875,728 1,341,547
(Accumulated deficit)/ retained earnings (15,109,888) 12,648,598
Total stockholders' equity 12,805,446 18,215,410
Total stockholders' equity and liabilities $ 72,575,385 $ 38,121,496