CONSOLIDATED BALANCE SHEETS - USD ($)
|
Dec. 31, 2021 |
Dec. 31, 2020 |
| CURRENT ASSETS: |
|
|
| Cash and cash equivalents |
$ 37,173,736
|
$ 8,926,903
|
| Restricted Cash |
2,382,732
|
0
|
| Accounts receivable trade, net |
8,224,357
|
1,302,218
|
| Due from related party |
0
|
1,559,132
|
| Inventories |
4,436,879
|
714,818
|
| Prepaid expenses and other assets |
2,591,150
|
1,061,083
|
| Deferred charges, net |
191,234
|
0
|
| Total current assets |
55,000,088
|
13,564,154
|
| NON-CURRENT ASSETS: |
|
|
| Vessels, net (including $138,600, and $3,406,400 related party commissions for the years ended 2020 and 2021, respectively) |
393,965,929
|
58,045,628
|
| Advances for vessel acquisitions |
2,368,165
|
0
|
| Restricted cash |
3,830,000
|
500,000
|
| Due from related party |
810,437
|
0
|
| Prepaid expenses and other assets, non-current |
2,075,999
|
200,000
|
| Deferred charges, net |
4,862,824
|
2,061,573
|
| Total non-current assets |
407,913,354
|
60,807,201
|
| Total assets |
462,913,442
|
74,371,355
|
| CURRENT LIABILITIES: |
|
|
| Current portion of long-term debt, net |
16,091,723
|
2,102,037
|
| Current portion of long-term debt, related party |
0
|
5,000,000
|
| Accounts payable |
5,042,575
|
2,078,695
|
| Due to related parties, current |
4,507,569
|
1,941
|
| Deferred revenue, net |
3,927,833
|
108,125
|
| Accrued liabilities (including $405,000 and $0 accrued interest to related party, respectively) |
4,459,696
|
1,613,109
|
| Total current liabilities |
34,029,396
|
10,903,907
|
| Commitments and contingencies |
|
|
| NON-CURRENT LIABILITIES: |
|
|
| Long-term debt, net |
85,949,676
|
11,083,829
|
| Total non-current liabilities |
85,949,676
|
11,083,829
|
| SHAREHOLDERS' EQUITY: |
|
|
| Common shares, $0.001 par value; 1,950,000,000 shares authorized; 13,121,238 shares issued and outstanding as of December 31, 2020, and 94,610,088 issued and outstanding as of December 31, 2021 |
94,610
|
13,121
|
| Additional paid-in capital |
303,658,153
|
53,686,741
|
| (Accumulated deficit)/ Retained earnings |
39,181,595
|
(1,316,735)
|
| Total shareholders' equity |
342,934,370
|
52,383,619
|
| Total liabilities and shareholders' equity |
462,913,442
|
74,371,355
|
| Series A Preferred Shares [Member] |
|
|
| SHAREHOLDERS' EQUITY: |
|
|
| Preferred shares |
0
|
480
|
| Series B Preferred Shares [Member] |
|
|
| SHAREHOLDERS' EQUITY: |
|
|
| Preferred shares |
$ 12
|
$ 12
|