XML 39 R4.htm IDEA: XBRL DOCUMENT v3.24.1.u1
CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS)/INCOME - USD ($)
9 Months Ended 12 Months Ended
Dec. 31, 2021
Dec. 31, 2023
Dec. 31, 2022
REVENUES:      
Time charter revenues (Notes 2(f) and 2(o)) $ 1,334,000 $ 18,957,000 $ 19,085,000
EXPENSES:      
Voyage expenses (Note 2(o)) 54,000 1,940,000 3,680,000
Vessel operating expenses (Notes 2(p) and 9) 360,000 10,421,000 6,880,000
Depreciation and amortization of deferred charges (Notes 2(l), 2(m) and 5) 354,000 7,670,000 4,896,000
General and administrative expenses 358,000 5,281,000 3,083,000
Management fees to related parties (Notes 3(a) and 3(b)) 74,000 1,236,000 878,000
Other operating loss/(income) (Note 6) 0 131,000 (6,000)
Operating (loss)/income 134,000 (7,722,000) (326,000)
OTHER INCOME:      
Changes in fair value of warrants' liability (Note 7(b)) 0 6,222,000 0
Finance costs (Note 7(b)) 0 (909,000) 0
Interest income 0 504,000 0
Gain from equity method investment (Notes 2(h) and 4) 0 2,000 0
Other expenses 0 (74,000) 0
Total other income, net 0 5,745,000 0
Net (loss)/income and comprehensive (loss)/income 134,000 (1,977,000) (326,000)
Net (loss)/income and comprehensive (loss)/income attributable to common stockholders $ 65,000 $ (6,707,000) $ (2,674,000)
(Loss)/ earnings per common share, basic (Note 8) (in dollars per share) $ 1.47 $ (2.02) $ (17.18)
(Loss)/ earnings per common share, diluted (Note 8) (in dollars per share) $ 1.06 $ (3.83) $ (17.18)
Weighted average number of common stock, basic (Note 8) (in shares) 44,101 3,315,519 155,655
Weighted average number of common stock, diluted (Note 8) (in shares) 61,378 3,372,207 155,655
Class A Warrants [Member]      
OTHER INCOME:      
Dividends $ 0 $ 0 $ (1,012,000)
Series C Preferred Stock [Member]      
OTHER INCOME:      
Deemed dividend upon redemption of Preferred Stock (Note 7(c)) 0 (2,549,000) 0
Dividends (69,000) (991,000) (950,000)
Series D Preferred Stock [Member]      
OTHER INCOME:      
Deemed dividend upon redemption of Preferred Stock (Note 7(c)) 0 (154,000) (134,000)
Dividends $ 0 $ (1,036,000) $ (252,000)