XML 131 R113.htm IDEA: XBRL DOCUMENT v3.25.1
Equity Capital Structure, Series D Cumulative Perpetual Convertible Preferred Shares (Details)
5 Months Ended 12 Months Ended
Dec. 12, 2024
USD ($)
shares
Mar. 27, 2024
$ / shares
Aug. 07, 2023
USD ($)
$ / shares
shares
Dec. 31, 2023
USD ($)
shares
Dec. 31, 2024
USD ($)
Vote
Director
shares
Dec. 31, 2023
USD ($)
shares
Dec. 31, 2022
USD ($)
Mezzanine Equity [Abstract]              
Consideration received for preferred shares issued         $ 50,000,000 $ 50,000,000 $ 0
Capital contribution         $ 22,437,675 500,000  
Number of shares of Junior Stock that can be exchanged or converted (in shares) | shares         1    
Reverse stock split ratio   0.1          
Less: Deemed preferred dividend         $ 606,444 196,296 0
Mezzanine equity       $ 49,549,489 77,708,258 49,549,489  
Dividends paid on Preferred Shares         $ 2,500,000 $ 479,167 $ 0
Series D Preferred Stock [Member]              
Mezzanine Equity [Abstract]              
Preferred stock issued (in shares) | shares       50,000 100,000 50,000  
Preferred shares, dividend rate     5.00%   5.00% 5.00%  
Dividend multiplier factor     1.3        
Conversion price (in dollars per share) | $ / shares   $ 0.7 $ 7        
Number of votes per share | Vote         0    
Effective interest rate         10.24%    
Preferred stock, redemption period         9 years    
Less: Deemed preferred dividend       $ 196,296 $ 606,444    
Mezzanine equity       49,549,489 77,708,258 $ 49,549,489  
Fair value of mezzanine equity $ 77,600,000     49,500,000 $ 49,500,000 49,500,000  
Issuance costs           146,807  
Series D Preferred Stock [Member] | Minimum [Member]              
Mezzanine Equity [Abstract]              
Conversion price (in dollars per share) | $ / shares     $ 0.3        
Series D Preferred Stock [Member] | Maximum [Member]              
Mezzanine Equity [Abstract]              
Preferred shares, dividend rate     20.00%        
Consecutive trading day period         5 days    
Number of preferred directors right to elect with parity stock | Director         2    
Series D Preferred Stock [Member] | Related Party [Member] | Toro [Member]              
Mezzanine Equity [Abstract]              
Preferred stock issued (in shares) | shares 50,000   50,000        
Preferred shares, stated amount (in dollars per share) | $ / shares     $ 1,000        
Preferred stock, par value (in dollars per share) | $ / shares     $ 0.001        
Consideration received for preferred shares issued $ 50,000,000   $ 50,000,000        
Capital contribution $ 22,400,000   $ 500,000        
Minimum number of shares that can be converted into common shares (in shares) | shares         500    
Maximum number of shares that can be redeemed for cash (in shares) | shares         30,000    
Period after closing date of transaction when shares cannot be disposed of         180 days    
Preferred shares, dividend rate 5.00%   5.00%        
Cash redemption percentage     105.00%   100.00%    
Reverse stock split ratio   0.1          
Dividends paid on Preferred Shares         $ 2,500,000    
Dividend payable       $ 541,666 $ 687,500 $ 541,666