XML 92 R74.htm IDEA: XBRL DOCUMENT v3.25.1
Discontinued operations (Details) - USD ($)
2 Months Ended 12 Months Ended
Mar. 07, 2023
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
OTHER INCOME/(EXPENSES) [Abstract]        
Net income and comprehensive income from discontinued operations, before taxes   $ 0 $ 17,513,269 $ 52,979,946
Toro Corp [Member]        
REVENUES [Abstract]        
Vessel revenues $ 23,369,274     111,885,868
EXPENSES [Abstract]        
Voyage expenses (including $1,437,276 and $294,831 to related party for the year ended December 31, 2022 and for the period January 1, 2023 through March 7, 2023) (374,396)     (29,319,414)
Vessel operating expenses (3,769,132)     (21,708,290)
Management fees to related parties (507,000)     (2,833,500)
Depreciation and amortization (1,493,759)     (7,294,476)
(Provision) / Recovery of provision for doubtful accounts 266,732     (266,732)
Gain on sale of vessel 0     3,222,631
Total expenses (5,877,555)     (58,199,781)
Operating income 17,491,719     53,686,087
OTHER INCOME/(EXPENSES) [Abstract]        
Interest and finance costs (220,061)     (902,572)
Interest income 253,165     202,612
Foreign exchange losses (11,554)     (6,181)
Total other (expenses)/income, net 21,550     (706,141)
Net income and comprehensive income from discontinued operations, before taxes 17,513,269     52,979,946
Income taxes (173,937)     (960,181)
Net income and comprehensive income from discontinued operations, net of taxes 17,339,332     52,019,765
Voyage expenses, related party 294,831     1,437,276
Toro Corp [Member] | Time Charter [Member]        
REVENUES [Abstract]        
Vessel revenues 914,000     13,656,029
Toro Corp [Member] | Voyage Charter [Member]        
REVENUES [Abstract]        
Vessel revenues 7,930     51,805,097
Toro Corp [Member] | Pool [Member]        
REVENUES [Abstract]        
Vessel revenues $ 22,447,344     $ 46,424,742