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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME/(LOSS) - USD ($)
3 Months Ended 12 Months Ended
Dec. 31, 2018
Dec. 31, 2020
Dec. 31, 2019
Sep. 30, 2018
REVENUES:        
Vessel revenues (net of commissions to charterers of $153,406, $43,125 ,$302,556 and $629,015 respectively) $ 1,111,075 $ 12,487,692 $ 5,967,772 $ 3,960,822
Total revenues 1,111,075 12,487,692 5,967,772 3,960,822
EXPENSES:        
Voyage expenses (including $40,471 and $29,769 to related parties for the years ended December 31, 2019 and 2020, respectively) (19,556) (584,705) (261,179) (37,373)
Vessel operating expenses (432,544) (7,447,439) (2,802,991) (1,727,770)
Management fees to related parties (29,440) (930,500) (212,300) (111,480)
Depreciation and amortization (177,378) (1,904,963) (897,171) (637,611)
Provision for doubtful accounts 0 (37,103) 0 0
General and administrative expenses        
Company administration expenses (including $400,000 to related party for the year ended December 31, 2020) (22,954) (1,130,953) (378,777) (109,233)
Public registration costs (161,116) 0 (132,091) (350,167)
Total expenses (842,988) (12,035,663) (4,684,509) (2,973,634)
Operating income 268,087 452,029 1,283,263 987,188
OTHER INCOME/(EXPENSES):        
Interest and finance costs (including $162,500 and $305,000 to related party for years ended December 31, 2019 and 2020, respectively) (519) (2,189,577) (222,163) (3,393)
Interest income 7,985 34,976 31,589 4,243
Foreign exchange (losses)/ gains 89 (29,321) (4,540) (8,539)
Other, net 800 0 0 1,439
Total other income/(expenses), net 8,355 (2,183,922) (195,114) (6,250)
Net income/(loss), before taxes 276,442 (1,731,893) 1,088,149 980,938
US source income taxes 0 (21,640) 0 0
Net income/(loss) 276,442 (1,753,533) 1,088,149 980,938
Comprehensive income/(loss) $ 276,442 $ (1,753,533) $ 1,088,149 $ 980,938
(Loss)/ Earnings per common share, basic (in dollars per share) $ (0.30) $ (0.03) $ 0.31 $ (0.28)
(Loss)/ Earnings per common share, diluted (in dollars per share) $ (0.30) $ (0.03) $ 0.31 $ (0.28)
Weighted average number of common shares, basic (in shares) 2,400,000 67,735,195 2,662,383 2,400,000
Weighted average number of common shares, diluted (in shares) 2,400,000 67,735,195 2,662,383 2,400,000