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COMBINED CARVE-OUT BALANCE SHEET - USD ($)
Jun. 30, 2022
Dec. 31, 2021
Nov. 29, 2021
Jun. 30, 2021
Apr. 14, 2021
Dec. 31, 2020
Jun. 30, 2020
Dec. 31, 2019
Dec. 31, 2018
CURRENT ASSETS:                  
Cash and cash equivalents $ 10,989,000 $ 1,673,000              
Accounts receivable, trade 425,000 811,000              
Due from a related party (Note 3(c)) 70,000 70,000              
Inventories 1,796,000 186,000              
Total current assets 13,833,000 3,200,000              
FIXED ASSETS:                  
Vessels, net (Note 4) 44,082,000 45,728,000              
Total fixed assets 48,482,000 45,728,000              
OTHER NON-CURRENT ASSETS:                  
Deferred charges, net 810,000 152,000              
Total assets 63,125,000 49,080,000              
CURRENT LIABILITIES:                  
Accounts payable, trade and other 327,000 263,000              
Due to related parties (Note 3) 210,000 59,000              
Accrued liabilities 1,186,000 381,000              
Deferred revenue 244,000 228,000              
Total current liabilities 2,207,000 931,000              
Commitments and contingencies (Note 5)              
STOCKHOLDERS' EQUITY:                  
Additional paid-in capital (Notes 3 and 6) 60,615,000 47,991,000              
Accumulated deficit   65,000              
Total stockholders' equity 60,918,000 48,149,000   $ 4,000 $ 0        
Total liabilities and stockholders' equity $ 63,125,000 $ 49,080,000              
OceanPal Inc. Predecessors                  
CURRENT ASSETS:                  
Cash and cash equivalents       1,939   $ 39,638      
Accounts receivable, trade       32,680   1,035,069      
Due from a related party (Note 3(c))       1,392,146   1,169,637      
Inventories       143,701   181,973      
Insurance claims           941,488      
Prepaid expenses       674,710   869,662      
Total current assets       2,245,176   4,237,467      
FIXED ASSETS:                  
Vessels, net (Note 4)       31,207,386   32,249,299      
Total fixed assets       31,207,386   32,249,299   $ 25,460,890  
OTHER NON-CURRENT ASSETS:                  
Deferred charges, net       584,017   701,773      
Total assets       34,036,579   37,188,539      
CURRENT LIABILITIES:                  
Accounts payable, trade and other       280,622   133,566      
Due to related parties (Note 3)       22,930   115,280      
Accrued liabilities       1,111,058   1,637,623      
Deferred revenue       235,897          
Total current liabilities       1,650,507   1,886,469      
Commitments and contingencies (Note 5)              
STOCKHOLDERS' EQUITY:                  
Additional paid-in capital (Notes 3 and 6)       140,925,220   144,274,678      
Accumulated deficit       (108,539,148)   (108,972,608)      
Total stockholders' equity     $ 32,856,325 32,386,072   35,302,070 $ 35,115,449 $ 34,862,173 $ 38,229,247
Total liabilities and stockholders' equity       $ 34,036,579   $ 37,188,539