XML 23 R5.htm IDEA: XBRL DOCUMENT v3.25.4
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($)
$ in Thousands
Preferred Shares [Member]
Common Shares [Member]
Additional Paid in Capital [Member]
Retained Earnings / (Accumulated Deficit) [Member]
Total
Balance at Dec. 31, 2022 $ 2 $ 0 $ 11,590 $ 2,729 $ 14,321
Balance (in shares) at Dec. 31, 2022 1,515,000 1,000      
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Cash contributions from shareholders (Note 8) $ 0 $ 0 700 0 700
Return of additional paid-in capital (Note 8) 0 0 (700) 0 (700)
Dividends on common shares (Note 8) 0 0 0 (3,307) (3,307)
Return of additional paid in capital 0 0 (3,000) 0 (3,000)
Net income (loss) for the period 0 0 0 1,155 1,155
Balance at Dec. 31, 2023 $ 2 $ 0 8,590 577 9,169
Balance (in shares) at Dec. 31, 2023 1,515,000 1,000      
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Issuance of common shares and Placement Agent's Warrant (Note 8) $ 0 $ 0 3,026 0 3,026
Issuance of common shares and Placement Agent's Warrant (Note 8) (in shares) 0 6,250      
Dividends on common shares (Note 8) $ 0 $ 0 0 (239) (239)
Net income (loss) for the period 0 0 0 (210) (210)
Balance at Dec. 31, 2024 $ 2 $ 0 11,616 128 11,746
Balance (in shares) at Dec. 31, 2024 1,515,000 7,250      
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Issuance of common shares and Placement Agent's Warrant (Note 8) $ 0 $ 1 13,981 0 13,982
Issuance of common shares and Placement Agent's Warrant (Note 8) (in shares) 0 684,727      
Dividends paid in cash and in kind (Note 8) $ 0 $ 0 (4,107) 0 (4,107)
Issuance of Series A Preferred Shares (Note 8) $ 0 $ 0 3,954 0 3,954
Issuance of Series A Preferred Shares (Note 8) (in shares) 3,954 0      
Net income (loss) for the period $ 0 $ 0 0 (4,197) (4,197)
Balance at Dec. 31, 2025 $ 2 $ 1 $ 25,444 $ (4,069) $ 21,378
Balance (in shares) at Dec. 31, 2025 1,518,954 691,977