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CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2021
Dec. 31, 2020
CURRENT ASSETS:    
Cash and cash equivalents $ 37,173,736 $ 8,926,903
Restricted Cash 2,382,732 0
Accounts receivable trade, net 8,224,357 1,302,218
Due from related party 0 1,559,132
Inventories 4,436,879 714,818
Prepaid expenses and other assets 2,591,150 1,061,083
Deferred charges, net 191,234 0
Total current assets 55,000,088 13,564,154
NON-CURRENT ASSETS:    
Vessels, net (including $138,600, and $3,406,400 related party commissions for the years ended 2020 and 2021, respectively) 393,965,929 58,045,628
Advances for vessel acquisitions 2,368,165 0
Restricted cash 3,830,000 500,000
Due from related party 810,437 0
Prepaid expenses and other assets, non-current 2,075,999 200,000
Deferred charges, net 4,862,824 2,061,573
Total non-current assets 407,913,354 60,807,201
Total assets 462,913,442 74,371,355
CURRENT LIABILITIES:    
Current portion of long-term debt, net 16,091,723 2,102,037
Current portion of long-term debt, related party 0 5,000,000
Accounts payable 5,042,575 2,078,695
Due to related parties, current 4,507,569 1,941
Deferred revenue, net 3,927,833 108,125
Accrued liabilities (including $405,000 and $0 accrued interest to related party, respectively) 4,459,696 1,613,109
Total current liabilities 34,029,396 10,903,907
Commitments and contingencies
NON-CURRENT LIABILITIES:    
Long-term debt, net 85,949,676 11,083,829
Total non-current liabilities 85,949,676 11,083,829
SHAREHOLDERS' EQUITY:    
Common shares, $0.001 par value; 1,950,000,000 shares authorized; 13,121,238 shares issued and outstanding as of December 31, 2020, and 94,610,088 issued and outstanding as of December 31, 2021 94,610 13,121
Additional paid-in capital 303,658,153 53,686,741
(Accumulated deficit)/ Retained earnings 39,181,595 (1,316,735)
Total shareholders' equity 342,934,370 52,383,619
Total liabilities and shareholders' equity 462,913,442 74,371,355
Series A Preferred Shares [Member]    
SHAREHOLDERS' EQUITY:    
Preferred shares 0 480
Series B Preferred Shares [Member]    
SHAREHOLDERS' EQUITY:    
Preferred shares $ 12 $ 12