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Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
REVENUE:      
Revenue (Notes 2 (n) and 4) $ 75,173 $ 36,491 $ 42,045
EXPENSES:      
Voyage expenses (Note 2 (n)) 14,861 19,205 14,434
Vessel operating expenses 13,828 12,301 9,208
Depreciation and amortization of deferred charges (Notes 2(k),(p) and 6) 9,281 7,472 5,799
Management fees 0 0 231
General and administrative expenses (Notes 5 and 10) 6,751 5,782 7,985
Gain on vessel's sale (Note 6) (9,543) 0 0
Provision for credit losses and write offs (Notes 2(h) and 4) 33 160 79
Foreign currency (gains) / losses (20) 31 35
Operating income/(loss) 39,982 (8,460) 4,274
OTHER INCOME / (EXPENSES)      
Interest and finance costs (Notes 5, 8 and 11) (3,966) (1,801) (2,089)
Interest income 284 18 110
Gain from property sale 0 137 0
Total other expenses, net (3,682) (1,646) (1,979)
Net income/(loss) from continuing operations 36,300 (10,106) 2,295
Gain from repurchase of preferred shares (Note 12) 0 0 1,500
Income allocated to participating securities (Note 12) (6) 0 (87)
Deemed dividend on Series B preferred stock upon exchange of common stock (Notes 2 (ac), 10 and 12) (9,271) 0 0
Deemed dividend on Series C preferred stock upon exchange of Series B preferred stock and re-acquisition of loan due to a related party (Notes 2 (ad), 10 and 12) (6,944) 0 0
Deemed dividend to the Series C preferred stockholders due to triggering of a down-round feature (Notes 2 (af), 10 and 12) (5,930) 0 0
Deemed dividend to the July and August warrants' holders due to triggering of a down-round feature (Notes 2 (af), 10 and 12) (1,116) 0 0
Dividends on preferred stock (Note 12) (1,030) 0 0
Net income / (loss) attributable to common stockholders from continuing operations 12,003 (10,106) 3,708
Net income attributable to common stockholders from discontinued operations (Note 3) 0 400 1,482
Total net income /(loss) attributable to common stockholders $ 12,003 $ (9,706) $ 5,190
Earnings / (Loss) per common share, basic, continuing operations (Note 12) (in dollars per share) $ 6.49 $ (30.16) $ 11.41
Earnings / (Loss) per common share, diluted, continuing operations (Note 12) (in dollars per share) 3.02 (30.16) 11.25
Earnings per common share, basic, discontinued operations (Note 12) (in dollars per share) 0 1.19 4.56
Earnings per common share, diluted, discontinued operations (Note 12) (in dollars per share) 0 1.19 4.49
Earnings / (Loss) per common share, basic, total (Note 12) (in dollars per share) 6.49 (28.97) 15.97
Earnings / (Loss) per common share, diluted, total (Note 12) (in dollars per share) $ 3.02 $ (28.97) $ 15.74
Weighted average number of common shares, basic (Note 12) (in shares) 1,850,072 335,086 325,031
Weighted average number of common shares, diluted (Note 12) (in shares) 6,447,710 335,086 329,704