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Consolidated statements of stockholders' equity - USD ($)
Total
Class D Warrants [Member]
After Spin Off And Upto Reporting Date [Member]
Upto And Before Spin Off [Member]
Common Stock [Member]
Treasury Stock, Common [Member]
Preferred Stock [Member]
Additional Paid-in Capital [Member]
(Accumulated Deficit)/ Retained Earnings
(Accumulated Deficit)/ Retained Earnings
Class D Warrants [Member]
(Accumulated Deficit)/ Retained Earnings
After Spin Off And Upto Reporting Date [Member]
Former Parent Company [Member]
Former Parent Company [Member]
Upto And Before Spin Off [Member]
Series A Preferred Stock [Member]
Series A Preferred Stock [Member]
Additional Paid-in Capital [Member]
Series A Preferred Stock [Member]
(Accumulated Deficit)/ Retained Earnings
Series B Preferred Stock [Member]
Series B Preferred Stock [Member]
Preferred Stock [Member]
Series B Preferred Stock [Member]
Additional Paid-in Capital [Member]
Series C Preferred Stock [Member]
Series C Preferred Stock [Member]
(Accumulated Deficit)/ Retained Earnings
Beginning balance, Shares at Dec. 31, 2020         0 0 0                            
Beginning balance at Dec. 31, 2020 $ 134,061,923       $ 0 $ 0 $ 0 $ 0 $ 0     $ 134,061,923                  
Net decrease in former Parent Company investment (7,792,798)                     (7,792,798)                  
Issuance of stock                           $ 15,113,723 $ 15,113,723            
Capitalization at spin-off, including issuance of capital and preferred stock         $ 3,184   $ 7,959 97,336,831       (97,347,974)                  
Issuance of stock, Shares         318,351   795,878                            
Dividends declared on preferred shares                           (130,574) (130,574)            
Deemed contribution of preferred shares as part of Spin-off (15,113,723)             (15,113,723)                          
Net income (3,639,979)   $ (471,557) $ (3,168,422)             $ (471,557)   $ (3,168,422)                
Dividends to former Parent Company (25,752,729)                     (25,752,729)                  
Ending balance, Shares at Dec. 31, 2021 [1]         318,351 0 795,878                            
Ending balance at Dec. 31, 2021 [1] 96,745,843       $ 3,184 $ 0 $ 7,959 97,206,257 (471,557)     0                  
Issuance of stock 156,821,474       $ 124,635     156,696,839                 $ 200,000 $ 160 $ 199,840    
Issuance of stock, Shares         12,463,531                         16,000      
Issuance of restricted shares and stock based compensation 117,256       $ 1,905     115,351                          
Issuance of restricted shares and stock based compensation, Shares         190,476                                
Dividends declared on preferred shares                           (1,740,983) $ (1,305,737) $ (435,246)          
Deemed dividend on warrant inducement (Note 8) (2,943,675)               (2,943,675)                        
Incremental fair value of the Class D warrants (Note 8)   $ 2,943,675               $ 2,943,675                      
Net income 29,510,928               29,510,928                        
Ending balance, Shares at Dec. 31, 2022 [1]         12,972,358 0 811,878                            
Ending balance at Dec. 31, 2022 [1] 281,654,518       $ 129,724 $ 0 $ 8,119 252,912,550 28,604,125                        
Issuance of common stock (including the exercise of warrants) net of issuance costs 27,577,769       $ 117,676     27,460,093                          
Issuance of common stock (including the exercise of warrants) net of issuance costs, Shares         11,767,579                                
Stock repurchase $ (5,885,727)         $ (5,885,727)                              
Stock repurchase, Shares 3,444,536         (3,444,536)                              
Warrants repurchase $ (1,521,738)             (1,521,738)                          
Issuance of restricted shares and stock based compensation 2,434,855       $ 15,853     2,419,002                          
Issuance of restricted shares and stock based compensation, Shares         1,585,311                                
Dividends declared on preferred shares                           $ (1,740,983)   $ (1,740,983)       $ (389,271) $ (389,271)
Conversion of Series C preferred shares, Shares         6,932,043                                
Conversion of Series C preferred shares         $ 69,320     9,930,680                       16,507,789 6,507,789
Deemed dividends on Series C Preferred shares                                       $ (6,507,789) $ (6,507,789)
Net income 71,134,002               71,134,002                        
Distribution of net assets of C3is (20,957,952)             (20,957,952)                          
Ending balance, Shares at Dec. 31, 2023         33,257,291 (3,444,536) 811,878                            
Ending balance at Dec. 31, 2023 $ 362,305,473       $ 332,573 $ (5,885,727) $ 8,119 $ 270,242,635 $ 97,607,873     $ 0                  
[1] Adjusted to reflect the reverse stock split effect on April 28, 2023 (see Note 1 and 8)