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Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
CURRENT ASSETS:    
Cash and cash equivalents $ 32,048 $ 7,563
Restricted cash, current portion 400 376
Inventories 858 1,911
Trade accounts receivable, net 4,146 10,469
Prepayments and other current assets 543 204
Insurance claim receivable 608
Total current assets 37,995 21,131
FIXED ASSETS, NET:    
Vessels, net 95,467 114,185
Total fixed assets, net 95,467 114,185
OTHER NON-CURRENT ASSETS:    
Restricted cash, net of current portion 2,000 2,250
Financial derivative instrument 619
Deferred dry dock and special survey costs, net 1,263 794
Total other non-current assets 3,263 3,663
Total assets 136,725 138,979
CURRENT LIABILITIES:    
Current portion of long-term debt, net of deferred financing costs 5,559 5,829
Trade accounts payable 2,113 2,604
Hire collected in advance 918 2,133
Accrued and other liabilities 878 967
Total current liabilities 10,546 12,561
NON-CURRENT LIABILITIES:    
Long-term debt, net of current portion and deferred financing costs 53,386 59,047
Promissory note 6,000
Total non-current liabilities 53,386 65,047
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS’ EQUITY:    
Preferred stock ($0.001 par value; 50,000,000 shares authorized; of which 1,000,000 authorized Series A Convertible Preferred Shares; 449,473 Series A Convertible Preferred Shares issued and outstanding as at December 31, 2022 and 403,831 at June 30, 2023)
Common stock ($0.001 par value; 450,000,000 shares authorized; 10,614,319 shares issued and outstanding as at December 31, 2022 and 10,794,812 at June 30, 2023, respectively) 11 11
Additional paid-in capital 111,826 111,869
Accumulated deficit (39,044) (50,509)
Total stockholders’ equity 72,793 61,371
Total liabilities and stockholders’ equity 136,725 138,979
Related Party [Member]    
CURRENT LIABILITIES:    
Due to related parties $ 1,078 $ 1,028