General and Administrative Expenses
 12 Months Ended
Dec. 31, 2021
General and Administrative Expenses [Abstract]  
General and Administrative Expenses
14.
General and Administrative Expenses:
 
General and administrative expenses include costs in relation to the administration of the Company and its non-recurring public registration costs.
 
Company Administration Expenses are analyzed as follows:
 

  
Year ended
December 31,
    
Year ended
December 31,
    
Year ended
December 31,
  
    2019     2020     2021  
Audit fees
  
$
119,535
    
$
129,420
    
$
265,744
  
Chief Executive and Chief Financial Officer and directors’ compensation
    
12,000
      
29,000
      
48,000
  
Other professional fees
    
247,242
      
572,533
      
1,752,566
  
Administration fees-related party (Note 3(c))
    
—
      
400,000
      
1,200,000
  
Total
  
$
378,777
    
$
1,130,953
    
$
3,266,310
  
 
The Chief Executive Officer and Chief Financial Officer compensation was terminated on October 1, 2020 and, subsequent to this date, all services rendered by the Company’s Chief Executive Officer and Chief Financial Officer are included in its Master Agreement with Castor Ships (see Note 3(c)).

Public Registration Costs: During the years ended December 31, 2019, 2020 and 2021, the Company incurred public registration costs of $132,091, $0, and $0 respectively. Public registration costs relate to the costs incurred by the Company in connection with the Company’s registration and listing of its 240,000 issued and outstanding common shares on the Norwegian OTC on December 21, 2018, and the NASDAQ Stock Market on February 11, 2019. Apart from registration and listing costs, public registration costs further include legal, consultancy and other costs incurred in connection with the subject listings.