v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 48,244 $ 21,866
Restricted cash 8,109 8,050
Accounts receivable trade, net 871 404
Inventories 1,634 1,693
Prepaid expenses 3,444 3,528
Other current assets 1,950 2,113
Intangible assets 1,493 973
Foreign exchange forward contract 46 0
Total current assets 74,891 45,898
Fixed assets:    
Vessels, net 506,542 484,492
Vessels under construction 118 0
Advances for vessel acquisition 0 3,700
Other fixed assets, net 160 267
Total fixed assets 506,820 488,459
Other non-current assets:    
Deferred charges and other investments, non-current 17,426 6,127
Intangible assets, non-current 67 60
Restricted cash, non-current 6,300 5,000
Operating lease, right-of-use asset 214 282
Investment in equity securities 830 0
Other non-current assets 31 27
TOTAL ASSETS 606,579 545,853
Current liabilities:    
Current portion of long-term debt and other financial liabilities, net of deferred finance costs and debt discounts of $1,963 and $1,627, respectively 54,940 37,401
Trade accounts and other payables 13,123 7,112
Accrued liabilities 12,222 9,626
Operating lease liability, current 98 93
Deferred revenue 4,934 2,094
Other current liabilities 2,745 5,297
Total current liabilities 88,062 61,623
Non-current liabilities:    
Long-term debt and other financial liabilities, net of current portion and deferred finance costs and debt discounts of $1,835 and $2,237, respectively 235,220 220,186
Operating lease liability, non-current 116 189
Deferred revenue, non-current 0 67
Other liabilities, non-current 1,798 1,609
Total liabilities 325,196 283,674
Commitments and contingencies
STOCKHOLDERS' EQUITY    
Preferred stock, $0.0001 par value; 25,000,000 shares authorized; 20,000 and 20,000 shares issued and outstanding as at December 31, 2025 and 2024, respectively 0 0
Common stock, $0.0001 par value; 500,000,000 authorized shares as at December 31, 2025 and 2024; 21,114,098 and 20,374,165 shares issued and outstanding as at December 31, 2025 and 2024, respectively 2 2
Additional paid-in capital 600,845 595,947
Accumulated deficit (319,464) (333,770)
Total stockholders' equity 281,383 262,179
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY 606,579 545,853
Related Party [Member]    
Current assets:    
Due from related parties $ 9,100 $ 7,271