v3.26.3
Unaudited Condensed Consolidated Statements of Comprehensive Income - USD ($)
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Time charter revenue $ 115,611,969 $ 116,793,645
Commissions (including $1,366,387 and $1,437,424, respectively, to related party) (3,271,366) (3,213,831)
Net revenue 112,340,603 113,579,814
Operating expenses / (income)    
Voyage expenses 369,793 493,855
Vessel operating expenses (including $247,728 and $224,647, respectively, to related party) 22,854,030 23,732,438
Dry-docking expenses 269,583 3,461,428
Vessel depreciation 13,361,702 15,304,021
Related party management fees 3,954,320 3,908,030
Other operating (income)/expenses 436,979 (120,000)
General and administrative expenses (including $1,150,000 and $1,180,000, respectively, to related party) 3,458,739 3,167,568
Gain on sale of vessel (including $131,500 and $nil, respectively, to related party) 0 (10,230,210)
Total operating expenses, net 44,705,146 39,717,130
Operating income 67,635,457 73,862,684
Other (expenses) / income    
Interest and other financing costs (5,683,352) (7,877,401)
Gain / (loss) on derivatives, net 0 (229,934)
Loss on investments in equity securities (54,916) 0
Foreign exchange (loss)/ gain (11,369) (83,562)
Interest income 3,241,736 1,104,724
Other expenses, net (2,507,901) (7,086,173)
Net income 65,127,556 66,776,511
Net loss attributable to the non-controlling interest 608,115 0
Net income attributable to controlling shareholders 65,735,671 66,776,511
Unrealized loss on investments in debt securities (1,058,000) 0
Other comprehensive loss (1,058,000) 0
Other comprehensive loss attributable to noncontrolling interest 0 0
Other comprehensive loss attributable to controlling shareholders (1,058,000) 0
Total comprehensive income 64,069,556 66,776,511
Total comprehensive loss attributable to noncontrolling interest 608,115 0
Total comprehensive income attributable to controlling shareholders $ 64,677,671 $ 66,776,511
Earnings per share attributable to controlling shareholders, basic (in dollars per share) $ 9.44 $ 9.63
Weighted average number of shares outstanding during the period, basic (in shares) 6,962,481 6,935,298
Earnings per share attributable to controlling shareholders, diluted (in dollars per share) $ 9.39 $ 9.6
Weighted average number of shares outstanding during the period, diluted (in shares) 7,001,419 6,958,398