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Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
CURRENT ASSETS:    
Cash and cash equivalents $ 104,933 $ 48,172
Accounts receivable, net (Note 3) 4,099 6,293
Restricted cash, current (Note 7) 500 0
Inventories 2,499 949
EU allowances (Note 3) 198 198
Prepaid expenses and other assets 2,947 2,398
Vessels held for sale (Note 6) 51,477 0
Total current assets 166,653 58,010
FIXED ASSETS:    
Advances for vessels under construction and other vessels' costs (Note 5) 50,399 48,725
Vessels, net (Note 6) 456,362 449,689
Property and equipment, net 312 58
Total fixed assets 507,073 498,472
NON-CURRENT ASSETS:    
Restricted cash, non-current (Note 7) 500 1,089
Right of use asset under operating leases 14 67
Deferred charges, net (Note 6) 585 2,215
Total non-current assets 1,099 3,371
Total assets 674,825 559,853
CURRENT LIABILITIES:    
Current portion of long-term debt, net of unamortized deferred financing costs (Note 7) 22,924 12,391
Accounts payable, trade and other 3,151 3,408
Due to related parties (Note 4) $ 282 $ 17
Other Liability, Current, Related Party, Type [Extensible Enumeration] Related Party [Member] Related Party [Member]
Accrued liabilities (Note 7) $ 9,273 $ 9,226
Deferred revenue (Note 3) 5,952 0
Lease liabilities, current 14 67
EU allowances liability, current (Note 3) 1,077 1,077
Total current liabilities 42,673 26,186
LONG-TERM LIABILITIES:    
Long-term debt, net of unamortized deferred financing costs (Note 7) 141,302 114,799
Bonds, net of unamortized premiums, discounts and deferred financing costs (Note 7) 145,808 95,142
Other liabilities, non-current 274 262
EU allowances liability, non- current (Note 3) 1,365 0
Commitments and contingencies (Note 8)
Fair value of warrants' liability (Note 9) 24 30
Total long-term liabilities 288,773 210,233
STOCKHOLDERS' EQUITY:    
Preferred stock, $0.01 par value; 25,000,000 shares authorized, 0 and 50,726 Series B, and 1,423,912 and 1,423,912 Series C issued and outstanding as at June 30, 2026, and December 31, 2025, respectively (Note 9) 14 15
Common stock, $0.01 par value; 500,000,000 shares authorized; 12,432,158 and 12,432,158 issued and outstanding as at June 30, 2026, and December 31, 2025, respectively (Note 9) 124 124
Additional paid-in capital (Note 9) 530,563 534,269
Other comprehensive income 102 102
Accumulated deficit (187,424) (211,076)
Total stockholders' equity 343,379 323,434
Total liabilities and stockholders' equity $ 674,825 $ 559,853