XML 57 R45.htm IDEA: XBRL DOCUMENT v3.23.2
Basis of Presentation and General information, Assets and Liabilities of Toro (Details) - USD ($)
Jun. 30, 2023
Mar. 07, 2023
Dec. 31, 2022
Jun. 30, 2022
Assets and Liabilities [Abstract]        
Cash and cash equivalents $ 28,574,177   $ 100,593,557 $ 104,387,715
Accounts receivable trade, net 1,555,075   2,706,412  
Due from related parties - current 5,458,734   2,437,354  
Inventories 1,962,110   1,939,689  
Prepaid expenses and other assets 1,442,202   2,065,539  
Vessels, net 302,550,388   343,408,466  
Due from related parties, non-current 3,044,495   3,514,098  
Prepaid expenses and other assets, non-current 1,220,000   1,626,000  
Deferred charges, net 4,270,214   5,357,816  
Accounts payable (2,754,118)   (7,593,981)  
Accrued liabilities (4,753,790)   (5,494,043)  
Long-term debt, net (85,013,187)   (109,600,947)  
Related Party [Member]        
Assets and Liabilities [Abstract]        
Due to Related Parties (3,369,200)   (2,664,976)  
Related Party [Member] | Toro Corp [Member]        
Assets and Liabilities [Abstract]        
Cash and cash equivalents   $ 61,359,774    
Accounts receivable trade, net   6,767,408    
Due from related parties - current $ 27,602 4,528,948 $ 0  
Inventories   890,523    
Prepaid expenses and other assets   1,447,062    
Vessels, net   91,492,003    
Restricted Cash   700,000    
Due from related parties, non-current   1,708,474    
Prepaid expenses and other assets, non-current   4,449,999    
Deferred charges, net   2,685,922    
Due to Related Parties   (3,001,865)    
Accounts payable   (2,432,095)    
Accrued liabilities   (3,041,530)    
Long-term debt, net   (12,413,056)    
Net assets of Toro   155,141,567    
Less Investment in Preferred Shares of Toro issued as part of Spin-Off   (117,222,135)    
Distribution of net assets of Toro to shareholders   $ 37,919,432