v3.26.1
Consolidated statements of stockholders' equity - USD ($)
Total
Common Stock [Member]
Treasury Stock, Common [Member]
Preferred Stock [Member]
Additional Paid-in Capital [Member]
(Accumulated Deficit)/ Retained Earnings [Member]
Series A Preferred Stock [Member]
Series A Preferred Stock [Member]
(Accumulated Deficit)/ Retained Earnings [Member]
Series C Preferred Stock [Member]
Series C Preferred Stock [Member]
Common Stock [Member]
Series C Preferred Stock [Member]
Additional Paid-in Capital [Member]
Series C Preferred Stock [Member]
(Accumulated Deficit)/ Retained Earnings [Member]
Beginning balance, Shares at Dec. 31, 2022 [1]   12,972,358   811,878                
Beginning balance at Dec. 31, 2022 [1] $ 281,654,518 $ 129,724   $ 8,119 $ 252,912,550 $ 28,604,125            
Issuance of common stock (including the exercise of warrants) net of issuance costs [1] 25,577,769 $ 117,676     27,460,093              
Issuance of common stock (including the exercise of warrants) net of issuance costs, Shares [1]   11,767,579                    
Stock repurchase [1] $ (5,885,727)   $ (5,885,727)                  
Stock repurchase, Shares 3,444,536   (3,444,536) [1]                  
Warrants repurchase [1] $ (1,521,738)       (1,521,738)              
Issuance of restricted shares and stock based compensation [1] 2,434,855 $ 15,853     2,419,002              
Issuance of restricted shares and stock based compensation, Shares [1]   1,585,311                    
Dividends declared on series A preferred shares ($2.19 per preferred share) [1]             $ (1,740,983) $ (1,740,983) $ (389,271)     $ (389,271)
Conversion of Series C preferred shares, Shares [1]                   6,932,043    
Conversion of Series C preferred shares [1]                 16,507,789 $ 69,320 $ 9,930,680 6,507,789
Deemed dividends declared on Series C preferred shares [1]                 $ (6,507,789)     $ (6,507,789)
Net Income [1] 71,134,002         71,134,002            
Distribution of net assets of C3is [1] (20,957,952)       (20,957,952)              
Ending balance at Dec. 31, 2023 [1] 362,305,473 $ 332,573 $ (5,885,727) $ 8,119 270,242,635 97,607,873            
Ending balance, Shares at Dec. 31, 2023 [1]   33,257,291   811,878                
Ending balance, Shares at Dec. 31, 2023 [1]     (3,444,536)                  
Stock repurchase (2,504,498)   $ (2,504,498)                  
Stock repurchase, Shares     (807,347)                  
Issuance of restricted shares and stock based compensation 3,397,082 $ 4,213     3,392,869              
Issuance of restricted shares and stock based compensation, Shares   421,352                    
Dividends declared on series A preferred shares ($2.19 per preferred share)             (1,740,983) (1,740,983)        
Net Income 50,157,772       0 50,157,772            
Exercise of warrants ,Shares   4,300,000                    
Exercise of warrants $ 8,577,822 $ 43,000     8,534,822              
Exercise of stock options,Shares 296,875 296,875                    
Exercise of stock options $ 475,000 $ 2,969     472,031              
Ending balance at Dec. 31, 2024 $ 420,667,668 $ 382,755 $ (8,390,225) $ 8,119 282,642,357 146,024,662            
Ending balance, Shares at Dec. 31, 2024   38,275,518   811,878                
Ending balance, Shares at Dec. 31, 2024 4,251,883   (4,251,883)                  
Issuance of common stock (including the exercise of warrants) net of issuance costs $ 55,999,849 $ 84,239     55,915,610              
Issuance of common stock (including the exercise of warrants) net of issuance costs, Shares   8,423,900                    
Stock repurchase $ (2,504,498)                      
Stock repurchase, Shares 807,347                      
Issuance of restricted shares and stock based compensation $ 3,187,650 $ 8,210     3,179,440              
Issuance of restricted shares and stock based compensation, Shares   820,994                    
Dividends declared on series A preferred shares ($2.19 per preferred share)             $ (1,740,983) $ (1,740,983)        
Net Income 49,978,247         49,978,247            
Exercise of warrants ,Shares   1,033,333                    
Exercise of warrants $ 2,066,666 $ 10,333     2,056,333              
Exercise of stock options,Shares 346,875 346,875                    
Exercise of stock options $ 655,000 $ 3,469     651,531              
Ending balance at Dec. 31, 2025 $ 530,814,097 $ 489,006 $ (8,390,225) $ 8,119 $ 344,445,271 $ 194,261,926            
Ending balance, Shares at Dec. 31, 2025   48,900,620   811,878                
Ending balance, Shares at Dec. 31, 2025 4,251,883   (4,251,883)                  
[1] Adjusted to reflect the reverse stock split effect on April 28, 2023 (see Note 1 and 8)