v3.26.3
Unaudited Condensed Consolidated Statements of Operations - USD ($)
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Revenues    
Commissions (including $267,942 and $403,181, respectively, to related party) $ (2,111,837) $ (1,314,020)
Operating expenses / (income)    
Voyage expenses, net (1,810,534) 2,509,350
Vessel operating expenses (including $149,196 and $128,598, respectively, to related party) 11,056,328 12,838,729
Dry-docking expenses 767,454 419,473
Vessel depreciation 5,798,940 6,430,572
Related party management fees 2,082,405 2,182,187
General and administrative expenses (including $727,500 and $747,500 to related party, respectively) 1,717,310 1,648,591
Net gain on sale of vessel (including $50,200 and $0 to related party, respectively) 0 (2,083,596)
Total operating expenses 19,611,903 23,945,306
Operating income / (loss) 10,879,491 (3,458,282)
Other income / (expenses)    
Interest and other financing costs (3,035,982) (3,527,620)
Gain on derivatives, net (528,070) (114,962)
Foreign exchange gain / (loss) (6,422) (34,763)
Interest income 46,400 22,859
Total other expenses, net (3,524,074) (3,654,486)
Net income / (loss) 7,355,417 (7,112,768)
Net loss attributable to the non-controlling interest (511,747) 338,575
Net income / (loss) attributable to controlling shareholders $ 6,843,670 $ (6,774,193)
Earnings / (loss) per share attributable to controlling shareholders – basic (in dollars per share) $ 2.45 $ (2.47)
Weighted average number of shares outstanding during the year, basic (in shares) 2,791,262 2,737,297
(Loss) / earnings per share attributable to controlling shareholders, diluted (in dollars per share) $ 2.41 $ (2.47)
Weighted average number of shares outstanding during the period, diluted (in shares) 2,837,146 2,737,297
Time Charter Revenue [Member]    
Revenues    
Revenue $ 32,603,231 $ 21,801,044
Voyage Charter Revenue [Member]    
Revenues    
Net revenue $ 30,491,394 $ 20,487,024