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Basis of Presentation and General Information (Tables) | 12 Months Ended
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Dec. 31, 2025
Basis of Presentation and General Information [Abstract] |
Subsidiaries | As of December 31, 2025, the Company was the sole owner of all outstanding shares of the following subsidiary companies, other than the two Shipowning Companies that were distributed to Rubico Inc. 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
1 | Top Tanker Management Inc. | May 2004 | Marshall Islands | Management company
2 | Top Mega Yachts Inc. | March 2024 | Marshall Islands | Holding company (dormant)
Wholly owned Shipowning Companies (“SPC”) with vessels under operating lease during years ended December 31, 2023, 2024 and 2025 | Date of Incorporation | Country of Incorporation | Vessel | End of operating lease
1 | South California Inc. | January 2018 | Marshall Islands | Eco Bel Air | December 15, 2025
2 | Malibu Warrior Inc. | January 2018 | Marshall Islands | Eco Beverly Hills | December 22, 2025
Wholly owned SPCs with vessels in operation during years ended December 31, 2023, 2024 and 2025 | Date of Incorporation | Country of Incorporation | Vessel | Delivery Date
1 | PCH Dreaming Inc. | January 2018 | Marshall Islands | Eco Marina Del Rey | March 2019
2 | Roman Empire Inc. | February 2020 | Marshall Islands | Eco West Coast | March 2021 (Distributed to Rubico Inc. on August 1, 2025)
3 | Athenean Empire Inc. | February 2020 | Marshall Islands | Eco Malibu | May 2021 (Distributed to Rubico Inc. on August 1, 2025)
4 | Julius Caesar Inc. | May 2020 | Marshall Islands | Julius Caesar | January 2022
5 | Legio X Inc. | December 2020 | Marshall Islands | Legio X Equestris | March 2022
6 | Eco Oceano CA Inc. | December 2020 | Marshall Islands | Eco Oceano CA | March 2022
7 | Seawolf Ventures Limited | August 2015 | Marshall Islands | M/Y Par Bellvm | August 2023
Wholly owned SPCs with vessels under construction during the year ended December 31, 202 5 | Date of Incorporation | Country of Incorporation | Vessel | Delivery Date
1 | Roman Explorer Inc | September 2023 | Marshall Islands | Hull No 158 | Q2 2027 (sold in March 31, 2026)
50% Owned Companies | As of December 31, 2023, 2024 and 2025, 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 | Eco Yosemite Park | March 2020
2 | California 20 Inc. | May 2019 | Marshall Islands | Eco Joshua Park | March 2020
Acquired Assets | The Company accounted for the abovementioned acquisitions as a transfer of assets between entities under common control and has recognized the vessels at their historical carrying amounts at the date of transfer. 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 consideration over acquired assets in the Company’s consolidated statement of stockholders’ equity for the year ended December 31, 2025. The net assets of Roman Explorer Inc. as of April 11, 2025 amounted to $8,567 and related to advances paid for the Newbuilding Yacht. The assets and liabilities of Seawolf Ventures Limited (shipowning company that owns 100% of M/Y Para Bellvm as of April 11, 2025) and an analysis of the Excess consideration over the carrying value of acquired assets is presented in the tables below:
Seawolf Ventures Limited |  |  |  |
Cash and cash equivalents (including restricted cash) |  |  | 249 |
Prepayments and other |  |  | 56 |
Inventories |  |  | 27 |
Vessels, net |  |  | 26,461 |
Accounts payable |  |  | (40 | )
Accrued liabilities |  |  | (248 | )
Long-term debt, net (current and non-current portion) |  |  | (13,681 | )
Total Net Assets of Seawolf Ventures Limited |  |  | 12,824 |
Total Net Assets of Seawolf Ventures Limited and Roman Explorer Inc. |  |  | 21,391 |
As of December 31, |  | 2025 |
Consideration |  |  | 47,000 |
Less: Carrying value of net assets of companies acquired |  |  | (21,391 | )
Excess consideration over acquired assets |  |  | 25,609 |
Assets and Liabilities of Rubico | The assets and liabilities of Rubico on August 1, 2025, were as follows:
Cash and cash equivalents (including restricted cash) |  |  | 1,023 |
Accounts receivable trade (current and non-current portion) |  |  | 781 |
Due from related parties |  |  | 571 |
Prepayments and other |  |  | 318 |
Inventories |  |  | 194 |
Vessels, net |  |  | 107,930 |
Accounts payable |  |  | (2,029 | )
Accrued liabilities |  |  | (523 | )
Unearned revenue |  |  | (1,395 | )
Due to related parties |  |  | (153 | )
Long-term debt, net (current and non-current portion) |  |  | (73,349 | )
Total Net Assets of Rubico |  |  | 33,368 |
Distribution of net assets of Rubico to the Company’s shareholders |  |  | (33,368 | )

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