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Basis of Presentation and General Information (Tables) | 12 Months Ended
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Dec. 31, 2023
Basis of Presentation and General Information [Abstract] |
Subsidiaries | As of December 31, 2023, the Company was the sole owner of all outstanding shares of the following subsidiary companies. The following list is not exhaustive as the Company has other subsidiaries relating to vessels that have been sold and that remain dormant for the periods presented in these consolidated financial statements as well as intermediary companies that own shipowning companies that are 100% subsidiaries of the Company.
Companies | Date of Incorporation | Country of Incorporation | Activity
Top Tanker Management Inc. | May 2004 | Marshall Islands | Management company
Wholly owned Shipowning Companies (“SPC”) with vessels in operation during years ended December 31, 2021, 2022 and 2023 | Date of Incorporation | Country of Incorporation | Vessel | Delivery Date
1 | Monte Carlo Lax Shipping Company Limited | May 2013 | Marshall Islands | M/T Nord Valiant | August 2016 (sold in 2021)
2 | PCH Dreaming Inc. | January 2018 | Marshall Islands | M/T Eco Marina Del Rey | March 2019
3 | Roman Empire Inc. | February 2020 | Marshall Islands | Eco West Coast | March 2021
4 | Athenean Empire Inc. | February 2020 | Marshall Islands | Eco Malibu | May 2021
5 | Julius Caesar Inc. | May 2020 | Marshall Islands | Julius Caesar | January 2022
6 | Legio X Inc. | December 2020 | Marshall Islands | Legio X Equestris | March 2022
7 | Eco Oceano CA Inc. | December 2020 | Marshall Islands | Eco Oceano CA | March 2022
50% Owned Companies | As of December 31, 2021, 2022 and 2023, the Company was the owner of 50% of outstanding shares of the following companies.
| SPC | Date of Incorporation | Country of Incorporation | Vessel | Built Date
1 | California 19 Inc. | May 2019 | Marshall Islands | M/T Eco Yosemite Park | March 2020
2 | California 20 Inc. | May 2019 | Marshall Islands | M/T Eco Joshua Park | March 2020
Excess of Consideration over Acquired Assets | The amount of the consideration given in excess of the historical carrying value of the net assets acquired is recognized as a reduction to the Company’s additional paid in capital and presented as Excess of consideration over the carrying value of acquired assets in the Company’s consolidated statement of stockholders’ equity for the twelve months ended December 31, 2021, 2022 and 2023 respectively. An analysis of the consideration paid is presented in the table below:
As of December 31, |  | 2021 |  |  | 2022 |  |  | 2023 |
Consideration |  |  | 29,750 |  |  |  | - |  |  |  | - |
Carrying value of net assets of companies sold |  |  | 24,074 |  |  |  | - |  |  |  | - |
Less: Carrying value of net assets of companies acquired |  |  | (8,933 | ) |  |  | - |  |  |  | - |
Less: Consideration received in cash |  |  | (10,000 | ) |  |  | - |  |  |  | - |
Less: Settlement of related party payables |  |  | (1,150 | ) |  |  | - |  |  |  | - |
Excess of consideration over acquired assets |  |  | 33,741 |  |  |  | - |  |  |  | - |

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- Definition Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479907/805-20-50-1 + Details
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