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Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
REVENUE:      
Revenue (Notes 2 (n) and 3) $ 108,938 $ 75,173 $ 36,491
EXPENSES:      
Voyage expenses (Note 2 (n)) 4,358 14,861 19,205
Vessel operating expenses (Notes 2 (r) and 12) 21,866 13,828 12,301
Depreciation and amortization of deferred charges (Notes 2 (k), (p) and 6) 14,793 9,281 7,472
General and administrative expenses (Notes 4, 8 and 9) 8,042 6,751 5,782
Gain on vessel's sale (Note 6) (15,683) (9,543) 0
(Reversal) / Provision for credit losses and write offs (Notes 2 (h) and 3) (37) 33 160
Foreign currency (gains) / losses (Note 2 (d)) 64 (20) 31
Operating income / (loss) 75,535 39,982 (8,460)
OTHER INCOME / (EXPENSES)      
Interest and finance costs (Notes 4, 7, 9 and 10) (9,598) (3,966) (1,801)
Loss from debt extinguishment (Notes 2 (q) and 7) (387) 0 0
Interest income 3,302 284 18
Gain from property sale (Note 4) 0 0 137
Changes in fair value of warrants' liability (Note 9) 561 0 0
Total other expenses, net (6,122) (3,682) (1,646)
Net income/ (loss) from continuing operations 69,413 36,300 (10,106)
Income allocated to participating securities (Note 11) (2) (6) 0
Deemed dividend on Series B preferred stock upon exchange of common stock (Notes 9 and 11) 0 (9,271) 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 9 and 11) 0 (6,944) 0
Deemed dividend to the Series C preferred stockholders due to triggering of a down-round feature (Notes 9 and 11) (9,809) (5,930) 0
Deemed dividend to the July and August 2022 warrants' holders due to triggering of a down-round feature (Notes 9 and 11) (789) (1,116) 0
Dividends on preferred stock (Note 11) (1,889) (1,030) 0
Net income / (loss) attributable to common stockholders from continuing operations 56,924 12,003 (10,106)
Net income attributable to common stockholders from discontinued operations 0 0 400
Total net income / (loss) attributable to common stockholders $ 56,924 $ 12,003 $ (9,706)
Earnings / (Loss) per common share, basic, continuing operations (Note 11) (in dollars per share) $ 5.43 $ 6.49 $ (30.16)
Earnings / (Loss) per common share, diluted, continuing operations (Note 11) (in dollars per share) 1.91 3.02 (30.16)
Earnings per common share, basic, discontinued operations (Note 11) (in dollars per share) 0 0 1.19
Earnings per common share, diluted, discontinued operations (Note 11) (in dollars per share) 0 0 1.19
Earnings / (Loss) per common share, basic, total (Note 11) (in dollars per share) 5.43 6.49 (28.97)
Earnings / (Loss) per common share, diluted, total (Note 11) (in dollars per share) $ 1.91 $ 3.02 $ (28.97)
Weighted average number of common shares, basic (Note 11) (in shares) 10,491,316 1,850,072 335,086
Weighted average number of common shares, diluted (Note 11) (in shares) 35,539,671 6,447,710 335,086