v3.26.1
INTERIM CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets    
Cash and cash equivalents $ 7,716 $ 3,880
Restricted cash 0 200
Trade receivables 109 278
Due from manager $ 1,743 $ 0
Other Receivable, after Allowance for Credit Loss, Current, Related Party [Extensible Enumeration] Related Party [Member] Related Party [Member]
Inventories $ 319 $ 314
Prepayments and advances 299 329
Other current assets 202 32
Total current assets 10,388 5,033
Non-current assets    
Vessels, net 49,547 51,268
Restricted cash 500 500
Investments in equity securities 493 0
Deferred drydocking costs, net 3,628 1,409
Deferred issuance costs 287 234
Total non-current assets 54,455 53,411
Total assets 64,843 58,444
Current liabilities    
Current portion of long term debt, net of deferred financing costs 3,049 2,280
Due to manager $ 0 $ 178
Other Liability, Current, Related Party [Extensible Enumeration] Related Party [Member] Related Party [Member]
Accounts payable $ 2,009 $ 1,363
Deferred revenue 448 140
Accrued liabilities 1,201 626
Total current liabilities 6,707 4,587
Non-current liabilities    
Non-current portion of long term debt, net of deferred financing costs 30,772 32,479
Total non-current liabilities 30,772 32,479
Total liabilities 37,479 37,066
Commitments and contingencies
Shareholders' equity    
Common shares: authorized 750,000,000 shares with a $0.001 par value, 3,870,396 shares issued (of which 3,759,314 shares outstanding) as of June 30, 2026 and 691,977 shares issued and outstanding as of December 31, 2025 4 1
Preferred Shares: authorized 250,000,000 shares with $0.001 par value, 21,390 and 18,954 Series A Preferred Shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively, 1,500,000 Series B Preferred Shares, and nil Series C Preferred Shares issued and outstanding as of June 30, 2026 and December 31, 2025 2 2
Additional paid-in capital 31,901 25,444
Cost of treasury stock (111,082 common shares as of June 30,2026 and nil as of December 31, 2025) (107) 0
Accumulated Deficit (4,436) (4,069)
Total shareholders' equity 27,364 21,378
Total shareholders' equity and liabilities $ 64,843 $ 58,444