v3.26.3
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2026
Dec. 31, 2025
CURRENT ASSETS:    
Cash and cash equivalents $ 79,115,400 $ 87,418,906
Restricted cash 20,000 0
Due from related party, current $ 6,672,662 $ 7,431,696
Other Receivable, after Allowance for Credit Loss, Current, Related Party, Type [Extensible Enumeration] Related Party [Member] Related Party [Member]
Accounts receivable trade $ 456,644 $ 69,900
Inventories 249,043 200,395
Prepaid expenses and other assets 697,837 548,774
Deferred finance fees, current 145,952 0
Investment in equity securities, current 0 209,486
Accrued charter revenue 8,783 9,113
Current assets of discontinued operations 12,744 416,159
Total current assets 87,379,065 96,304,429
NON-CURRENT ASSETS:    
Vessels, net 93,506,690 96,180,562
Restricted cash, non-current from continuing operations 1,060,000 0
Due from related party, non-current $ 1,341,549 $ 1,341,549
Other Receivable, after Allowance for Credit Loss, Noncurrent, Related Party, Type [Extensible Enumeration] Related Party [Member] Related Party [Member]
Deferred charges, net $ 1,632,186 $ 1,835,981
Investment in equity securities, non-current 5,647,853 5,647,853
Investment in related parties 127,118,569 127,118,569
Investment in debt securities 3,534,605 2,918,353
Deferred finance fees, non-current 531,824 0
Total non-current assets 234,373,276 235,042,867
Total assets 321,752,341 331,347,296
CURRENT LIABILITIES:    
Due to related party $ 299,444 $ 299,444
Other Liability, Current, Related Party, Type [Extensible Enumeration] Related Party [Member] Related Party [Member]
Accounts payable $ 1,205,215 $ 1,127,638
Deferred revenue 219,583 768,785
Accrued liabilities 1,150,622 848,998
Dividends payable 0 37,578,641
Current liabilities of discontinued operations 1,314,075 1,315,502
Total current liabilities 4,188,939 41,939,008
NON-CURRENT LIABILITIES:    
Total non-current liabilities 0 0
Commitments and contingencies
MEZZANINE EQUITY:    
Mezzanine equity 127,438,124 125,809,233
SHAREHOLDERS' EQUITY:    
Common shares, $0.001 par value: 3,900,000,000 shares authorized; 21,473,509 and 34,559,330 shares issued and outstanding as of December 31, 2025, and June 30, 2026, respectively 34,559 21,474
Preferred shares, $0.001 par value: 100,000,000 shares authorized; Series B Preferred Shares: 40,000 shares issued and outstanding as of December 31, 2025, and June 30, 2026, respectively 40 40
Additional paid-in capital 113,028,877 59,304,814
Retained Earnings 77,061,802 104,272,727
Total shareholders' equity 190,125,278 163,599,055
Total liabilities, mezzanine equity and shareholders' equity 321,752,341 331,347,296
1.00% Series A Fixed Rate Cumulative Perpetual Convertible Preferred Shares [Member]    
MEZZANINE EQUITY:    
Mezzanine equity $ 127,438,124 $ 125,809,233