v3.26.3
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2026
Dec. 31, 2025
Current assets    
Cash and cash equivalents $ 737,874 $ 616,640
Time deposits 32,510,000 14,323,999
Trade and other receivables 11,734,850 4,262,887
Other current assets 234,443 282,992
Inventories 3,217,204 1,312,062
Advances and prepayments 10,436 15,378
Operating lease right-of-use assets 64,374 24,751
Total current assets 48,509,181 20,838,709
Non current assets    
Vessels, net 96,251,707 77,647,921
Total non current assets 96,251,707 77,647,921
Total assets 144,760,888 98,486,630
Current liabilities    
Trade accounts payable 3,106,148 1,804,473
Accrued and other liabilities 1,102,162 911,201
Operating lease liabilities 64,374 24,751
Deferred income 78,011 235,651
Total current liabilities 28,824,473 3,357,855
Non current liabilities    
Warrant liability 1,347,235 29,161
Total non current liabilities 1,347,235 29,161
Total liabilities 30,171,708 3,387,016
Commitments and contingencies
Capital stock, $0.01 par value, 2,000,000,000 shares authorized at December 31, 2025 and June 30, 2026, 2,356 and 38,690 issued and outstanding at December 31, 2025 and June 30, 2026, respectively (Note 8) 387 24
Additional paid-in capital 102,408,202 90,607,745
Retained earnings 12,174,591 4,485,845
Total stockholders' equity 114,589,180 95,099,614
Total liabilities and stockholders' equity 144,760,888 98,486,630
Series A Preferred Stock [Member]    
Non current liabilities    
Preferred Stock, 200,000,000 shares authorized Preferred stock, Series A, $0.01 par value, 600,000 shares issued and outstanding as of December 31, 2025 and June 30, 2026 6,000 6,000
Related Party [Member]    
Current liabilities    
Payable to related parties $ 24,473,778 $ 381,779