v3.26.3
Unaudited Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2026
Dec. 31, 2025
Current assets    
Cash and cash equivalents $ 157,351,820 $ 176,460,053
Restricted cash 661,050 564,027
Trade accounts receivable, net 15,672,594 10,159,572
Other receivables 2,719,447 1,365,550
Inventories 3,173,935 2,817,493
Accrued interest income 162,406 0
Investment in debt securities 18,942,000 0
Investment in equity securities 19,945,084 0
Prepaid expenses 1,033,449 984,394
Total current assets 219,661,785 192,351,089
Long-term assets    
Vessels, net 453,102,388 465,913,492
Advances for vessels under construction 73,882,170 35,890,936
Restricted cash 6,300,000 6,300,000
Total assets 752,946,343 700,455,517
Current liabilities    
Long-term debt, current portion 17,701,932 19,151,932
Accrued expenses 12,874,206 9,035,452
Accrued dividends 286,505 143,510
Deferred revenues 4,565,220 5,291,870
Total current liabilities 40,251,139 39,352,279
Long-term liabilities    
Long-term debt, net of current portion 188,815,011 197,659,451
Total long-term liabilities 188,815,011 197,659,451
Total liabilities 229,066,150 237,011,730
Commitments and Contingencies
Shareholders’ equity    
Common stock (par value $0.03, 200,000,000 shares authorized, 7,055,881 and 7,055,381, issued and outstanding) 211,661 211,676
Additional paid-in capital 260,402,794 258,724,564
Retained earnings 259,306,604 204,507,547
Accumulated other comprehensive loss (1,058,000) 0
Total shareholders’ equity 518,863,059 463,443,787
Non-controlling interest 5,017,134 0
Total shareholders’ equity 523,880,193 463,443,787
Total liabilities and shareholders’ equity 752,946,343 700,455,517
Nonrelated Party [Member]    
Current liabilities    
Trade accounts payable 3,828,406 3,907,792
Related Party [Member]    
Current liabilities    
Trade accounts payable $ 994,870 $ 1,821,723