v3.26.3
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY AND MEZZANINE EQUITY - USD ($)
Preferred Shares [Member]
Series B Preferred Shares [Member]
Common Shares [Member]
Treasury Stock [Member]
Additional Paid-in Capital [Member]
Due from Stockholder [Member]
Former Parent Company Investment [Member]
(Accumulated deficit)/Retained earnings [Member]
Total
Series A Preferred Shares [Member]
Beginning balance at Dec. 31, 2024 $ 0 $ 1 $ 0 $ 0 $ (1) $ 21,111,822 $ 0 $ 21,111,822  
Beginning balance (in shares) at Dec. 31, 2024 0 1,000              
Beginning balance (in shares) at Dec. 31, 2024     0            
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income $ 0 $ 0 $ 0 0 0 573,218 (139,435) 433,783 [1]  
Comprehensive income 0 0 0 0 0 573,218 (139,435) 433,783 [1]  
Net increase in Former Parent Company Investment 0 0 0 0 0 329,618 0 329,618  
Cancellation of common shares due to Spin-Off $ 0 $ (1) $ 0 0 1 0 0 0  
Cancellation of common shares due to Spin-Off (in shares) 0 (1,000) 0            
Capitalization at Spin-Off, including Issuance of capital and preferred stock, net of costs $ 40 $ 32 $ 0 5,692,854 0 (22,014,658) 0 (16,321,732)  
Capitalization at Spin-Off, including Issuance of capital and preferred stock, net of costs (in shares) 40,000 31,823 0            
Issuance of common shares pursuant to registered equity offerings $ 0 $ 48 $ 0 15,017,449 0 0 0 15,017,497  
Issuance of common shares pursuant to registered equity offerings (in shares) 0 48,106 0            
Dividend on Series A preferred shares $ 0 $ 0 $ 0 0 0 0 (106,944) (106,944)  
Ending balance at Jun. 30, 2025 $ 40 $ 80 $ 0 20,710,303 0 0 (246,379) 20,464,044  
Ending balance (in shares) at Jun. 30, 2025 40,000 79,929              
Ending balance (in shares) at Jun. 30, 2025     0            
Beginning balance at Dec. 31, 2024                 $ 0
Beginning balance (in shares) at Dec. 31, 2024                 0
Increase (Decrease) in Temporary Equity [Roll Forward]                  
Capitalization at Spin-Off, including Issuance of capital and preferred stock, net of costs                 $ 25,877,180
Capitalization at Spin-Off, including Issuance of capital and preferred stock, net of costs (in shares)                 2,000,000
Ending balance at Jun. 30, 2025                 $ 25,877,180
Ending balance (in shares) at Jun. 30, 2025                 2,000,000
Beginning balance at Dec. 31, 2024 $ 0 $ 1 $ 0 0 (1) 21,111,822 0 21,111,822  
Beginning balance (in shares) at Dec. 31, 2024 0 1,000              
Beginning balance (in shares) at Dec. 31, 2024     0            
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Repurchase of common shares               $ 100,000  
Repurchase of common shares (in shares)               2,058  
Ending balance at Dec. 31, 2025 $ 40 $ 187 $ (130,548) 31,576,581 0 0 (976,693) $ 30,469,567  
Ending balance (in shares) at Dec. 31, 2025 40,000 187,049              
Ending balance (in shares) at Dec. 31, 2025     (2,058)         2,058  
Beginning balance at Dec. 31, 2024                 $ 0
Beginning balance (in shares) at Dec. 31, 2024                 0
Ending balance at Dec. 31, 2025               $ 25,877,180 $ 25,877,180
Ending balance (in shares) at Dec. 31, 2025                 2,000,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income $ 0 $ 0 $ 0 0 0 0 6,099,699 6,099,699 [1]  
Comprehensive income 0 0 0 0 0 0 6,099,699 6,099,699 [1]  
Redemption of fractional shares 0 $ 0 $ 0 0 0 0 0 0  
Redemption of fractional shares (in shares)   (19) 0            
Exercise of pre-funded warrants (Note 6) 0 $ 68 $ 0 (68) 0 0 0 0  
Exercise of pre-funded warrants (Note 6) (in shares)   68,445 0            
Issuance of common shares pursuant to ATM (Note 6) $ 0 $ 396 $ 0 16,259,829 0 0 0 16,260,225  
Issuance of common shares pursuant to ATM (Note 6) (in shares) 0 395,774 0            
Repurchase of common shares pursuant to self-Tender offer (Note 6) $ 0 $ (67) $ 0 (3,139,292) 0 0 0 (3,139,359)  
Repurchase of common shares pursuant to self-Tender offer (Note 6) (in shares) 0 (66,667) 0            
Repurchase of common shares     $ 130,548            
Repurchase of common shares (in shares)     2,058            
Cancellation of common shares pursuant to share repurchase program $ 0 $ (2)   (130,546) 0 0 0 0  
Cancellation of common shares pursuant to share repurchase program (in shares) 0 (2,058)              
Dividend on Series A preferred shares $ 0 $ 0 $ 0 0 0 0 (250,000) (250,000)  
Ending balance at Jun. 30, 2026 $ 40 $ 582 $ 0 $ 44,566,504 $ 0 $ 0 $ 4,873,006 $ 49,440,132  
Ending balance (in shares) at Jun. 30, 2026 40,000 582,524              
Ending balance (in shares) at Jun. 30, 2026     0         0  
Ending balance at Jun. 30, 2026               $ 25,877,180 $ 25,877,180
Ending balance (in shares) at Jun. 30, 2026                 2,000,000
[1] For the six months ended June 30, 2026, “Gain on sale of vessel” amounting to $6,206,743 is included in the accompanying unaudited interim condensed consolidated statements of comprehensive income.