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CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS)/INCOME - USD ($)
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
REVENUES:      
Voyage charter revenues $ 51,805,097 $ 15,002,012 $ 0
Total vessel revenues 262,101,998 132,049,710 12,487,692
EXPENSES:      
Voyage expenses (including $29,769, $1,671,145 and $3,381,564 to related party for the years ended December 31, 2020, 2021 and 2022, respectively) (33,040,690) (12,950,783) (584,705)
Vessel operating expenses (62,967,844) (39,203,471) (7,447,439)
Management fees to related parties (9,395,900) (6,744,750) (930,500)
Depreciation and amortization (25,829,713) (14,362,828) (1,904,963)
Provision for doubtful accounts (266,732) (2,483) (37,103)
General and administrative expenses (including $400,000, $1,200,000, and $2,100,000 to related party for the years ended December 31, 2020, 2021 and 2022, respectively) (7,043,937) (3,266,310) (1,130,953)
Gain on sale of vessel 3,222,631 0 0
Total expenses (135,322,185) (76,530,625) (12,035,663)
Operating income 126,779,813 55,519,085 452,029
OTHER INCOME/(EXPENSES):      
Interest and finance costs (including $305,000, $204,167 and $0 to related party for the years ended December 31, 2020, 2021 and 2022, respectively) (8,584,054) (2,854,998) (2,189,577)
Interest income 1,558,103 75,123 34,976
Foreign exchange (losses)/gains 103,700 28,616 (29,321)
Dividend on equity securities 24,528 0 0
Gain on sale of equity securities 27,450 0 0
Total other expenses, net (6,870,273) (2,751,259) (2,183,922)
Net (loss)/income, before taxes 119,909,540 52,767,826 (1,731,893)
Income taxes (1,348,850) (497,339) (21,640)
Net (loss)/income 118,560,690 52,270,487 (1,753,533)
Comprehensive (loss)/income 118,560,690 52,270,487 (1,753,533)
Deemed dividend on Series A preferred shares 0 (11,772,157) 0
Net (loss)/income attributable to common shareholders $ 118,560,690 $ 40,498,330 $ (1,753,533)
(Loss)/Earnings per common share, basic (in dollars per share) $ 1.25 $ 0.48 $ (0.26)
(Loss)/Earnings per common share, diluted (in dollars per share) $ 1.25 $ 0.47 $ (0.26)
Weighted average number of common shares, basic (in shares) 94,610,088 83,923,435 6,773,519
Weighted average number of common shares, diluted (in shares) 94,610,088 85,332,728 6,773,519
Time Charter [Member]      
REVENUES:      
Vessel revenues $ 163,872,159 $ 111,900,699 $ 12,487,692
Pool [Member]      
REVENUES:      
Vessel revenues $ 46,424,742 $ 5,146,999 $ 0