2023 Q4 Form 20-F Financial Statement
#000119312524123906 Filed on April 30, 2024
Income Statement
Concept | 2023 Q4 | 2023 | 2022 Q4 |
---|---|---|---|
Revenue | $13.78M | $28.74M | $4.034M |
YoY Change | 241.51% | 78.12% | |
Cost Of Revenue | $5.838M | $12.61M | $2.116M |
YoY Change | 175.93% | 115.76% | |
Gross Profit | $7.939M | $16.13M | $1.918M |
YoY Change | 313.82% | 56.74% | |
Gross Profit Margin | 57.63% | 56.12% | 47.56% |
Selling, General & Admin | $465.0K | $1.596M | $207.1K |
YoY Change | 124.5% | 308.39% | |
% of Gross Profit | 5.86% | 9.9% | 10.8% |
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | $1.382M | $4.105M | $558.0K |
YoY Change | 147.74% | 295.77% | |
% of Gross Profit | 17.41% | 25.45% | 29.08% |
Operating Expenses | $1.847M | $18.31M | $765.1K |
YoY Change | 141.41% | 1182.33% | |
Operating Profit | $6.092M | $10.43M | $1.153M |
YoY Change | 428.19% | 17.66% | |
Interest Expense | -$519.0K | -$1.136M | $45.06K |
YoY Change | -1251.8% | 845.33% | |
% of Operating Profit | -8.52% | -10.89% | 3.91% |
Other Income/Expense, Net | -$1.136M | ||
YoY Change | |||
Pretax Income | $5.573M | $9.292M | $1.198M |
YoY Change | 365.02% | -48.41% | |
Income Tax | |||
% Of Pretax Income | |||
Net Earnings | $5.021M | $9.292M | $1.198M |
YoY Change | 318.96% | -48.41% | |
Net Earnings / Revenue | 36.44% | 32.33% | 29.71% |
Basic Earnings Per Share | $157.30 | ||
Diluted Earnings Per Share | $34.39 | $63.08 | $0.03 |
COMMON SHARES | |||
Basic Shares Outstanding | 54.22K | ||
Diluted Shares Outstanding | 146.1K |
Balance Sheet
Concept | 2023 Q4 | 2023 | 2022 Q4 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $9.064M | $9.064M | |
YoY Change | |||
Cash & Equivalents | $695.3K | $695.0K | $23.50M |
Short-Term Investments | $8.368M | $8.368M | |
Other Short-Term Assets | $33.85K | $114.0K | |
YoY Change | 213.7% | ||
Inventory | $689.3K | $689.0K | $165.6K |
Prepaid Expenses | |||
Receivables | $10.44M | $10.44M | |
Other Receivables | $0.00 | $0.00 | |
Total Short-Term Assets | $20.31M | $20.31M | $1.024M |
YoY Change | 1884.39% | 1884.43% | |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $75.16M | $75.16M | $38.84M |
YoY Change | 93.53% | 93.53% | |
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | |||
YoY Change | |||
Total Long-Term Assets | $75.16M | $75.16M | $38.84M |
YoY Change | 93.53% | 93.53% | |
TOTAL ASSETS | |||
Total Short-Term Assets | $20.31M | $20.31M | $1.024M |
Total Long-Term Assets | $75.16M | $75.16M | $38.84M |
Total Assets | $95.47M | $95.47M | $39.86M |
YoY Change | 139.52% | 139.52% | |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $547.0K | $547.0K | |
YoY Change | -30.95% | ||
Accrued Expenses | $634.3K | $634.0K | $173.3K |
YoY Change | 265.96% | 265.8% | |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | |
YoY Change | |||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $39.93M | $39.93M | $965.5K |
YoY Change | 4035.64% | 4035.6% | |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | |
YoY Change | |||
Other Long-Term Liabilities | |||
YoY Change | |||
Total Long-Term Liabilities | $0.00 | $0.00 | |
YoY Change | |||
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $39.93M | $39.93M | $965.5K |
Total Long-Term Liabilities | $0.00 | $0.00 | |
Total Liabilities | $39.93M | $39.93M | $965.5K |
YoY Change | 4035.64% | 4035.6% | |
SHAREHOLDERS EQUITY | |||
Retained Earnings | $8.346M | ||
YoY Change | |||
Common Stock | $874.00 | ||
YoY Change | |||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $55.54M | $55.54M | $42.90M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $95.47M | $95.47M | $39.86M |
YoY Change | 139.52% | 139.52% |
Cashflow Statement
Concept | 2023 Q4 | 2023 | 2022 Q4 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | $5.021M | $9.292M | $1.198M |
YoY Change | 318.96% | -48.41% | |
Depreciation, Depletion And Amortization | $1.382M | $4.105M | $558.0K |
YoY Change | 147.74% | 295.77% | |
Cash From Operating Activities | $242.2K | $5.639M | |
YoY Change | -43.96% | ||
INVESTING ACTIVITIES | |||
Capital Expenditures | $0.00 | $4.300M | |
YoY Change | -92.23% | ||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | -$8.127M | -$8.126M | |
YoY Change | -139.97% | ||
Cash From Investing Activities | -$8.127M | -$12.43M | |
YoY Change | -64.54% | ||
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | -369.9K | 7.483M | |
YoY Change | -84.31% | ||
NET CHANGE | |||
Cash From Operating Activities | 242.2K | 5.639M | |
Cash From Investing Activities | -8.127M | -12.43M | |
Cash From Financing Activities | -369.9K | 7.483M | |
Net Change In Cash | -8.254M | 695.3K | |
YoY Change | -96.94% | ||
FREE CASH FLOW | |||
Cash From Operating Activities | $242.2K | $5.639M | |
Capital Expenditures | $0.00 | $4.300M | |
Free Cash Flow | $242.2K | $1.339M | |
YoY Change | -102.96% |
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IncreaseDecreaseInDueToRelatedPartiesCurrent
|
2238516 | |
us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
173324 | ||
CY2023 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
460973 | |
CY2023 | us-gaap |
Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
215836 | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
1051506 | ||
CY2023 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
5639144 | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
39394125 | ||
CY2023 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
4300000 | |
CY2023 | ciss |
Purchase Of Bank Time Deposits
PurchaseOfBankTimeDeposits
|
8126450 | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-39394125 | ||
CY2023 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-12426450 | |
us-gaap |
Proceeds From Contributions From Parent
ProceedsFromContributionsFromParent
|
38342619 | ||
CY2023 | us-gaap |
Proceeds From Contributions From Parent
ProceedsFromContributionsFromParent
|
3305083 | |
CY2023 | ciss |
Proceeds From Follow On Offering
ProceedsFromFollowOnOffering
|
5003250 | |
CY2023 | us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
584072 | |
CY2023 | us-gaap |
Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
|
241667 | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
38342619 | ||
CY2023 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
7482594 | |
CY2023 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
695288 | |
CY2022Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
0 | |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
0 | |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
0 | |
CY2023Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
695288 | |
CY2023 | us-gaap |
Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
|
36130000 | |
CY2023 | dei |
Parent Entity Legal Name
ParentEntityLegalName
|
Imperial Petroleum Inc. | |
CY2023 | ciss |
Entity Formation Date Of Formation
EntityFormationDateOfFormation
|
2022-07-25 | |
CY2022Q3 | ciss |
Disposal Of Property Plant And Equipment Consideration Receivable
DisposalOfPropertyPlantAndEquipmentConsiderationReceivable
|
39000000 | |
CY2023Q4 | ciss |
Working Capital Deficit
WorkingCapitalDeficit
|
19617582 | |
CY2023Q4 | us-gaap |
Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
|
9063705 | |
CY2023Q4 | us-gaap |
Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
|
37906821 | |
CY2023 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
13000000 | |
CY2023 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<div style="text-indent: 4%; font-family: Times New Roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;"><div style="font-style: normal; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-style:italic;display:inline;">Use of Estimates:</div></div></div></div> The preparation of the consolidated financial statements in conformity <div style="letter-spacing: 0px; top: 0px;display:inline;">with </div>U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. </div></div> | |
CY2023 | ciss |
Financial Component Accounting On Asset Acquisition
FinancialComponentAccountingOnAssetAcquisition
|
3000000 | |
CY2022Q4 | us-gaap |
Inventory Net
InventoryNet
|
165645 | |
CY2023Q4 | us-gaap |
Inventory Net
InventoryNet
|
689269 | |
CY2022Q3 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
0 | |
CY2022Q3 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
0 | |
CY2022Q3 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
0 | |
us-gaap |
Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
|
39394125 | ||
ciss |
Property Plant And Equipment Additions Net
PropertyPlantAndEquipmentAdditionsNet
|
39394125 | ||
us-gaap |
Depreciation
Depreciation
|
557974 | ||
ciss |
Depreciation Net
DepreciationNet
|
-557974 | ||
CY2022Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
39394125 | |
CY2022Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
557974 | |
CY2022Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
38836151 | |
CY2023 | us-gaap |
Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
|
40430000 | |
CY2023 | ciss |
Acquisitions And Improvements Of Vessel Net
AcquisitionsAndImprovementsOfVesselNet
|
40430000 | |
CY2023 | us-gaap |
Depreciation
Depreciation
|
4104720 | |
CY2023 | ciss |
Depreciation Net
DepreciationNet
|
-4104720 | |
CY2023Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
79824125 | |
CY2023Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
4662694 | |
CY2023Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
75161431 | |
CY2022Q4 | ciss |
Accrued Vessel Operating Expenses Current
AccruedVesselOperatingExpensesCurrent
|
158956 | |
CY2023Q4 | ciss |
Accrued Vessel Operating Expenses Current
AccruedVesselOperatingExpensesCurrent
|
266500 | |
CY2022Q4 | ciss |
Voyage Payable Current
VoyagePayableCurrent
|
14368 | |
CY2023Q4 | ciss |
Voyage Payable Current
VoyagePayableCurrent
|
230817 | |
CY2023Q4 | ciss |
Administration Expenses Payable Current
AdministrationExpensesPayableCurrent
|
136980 | |
CY2022Q4 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
173324 | |
CY2023Q4 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
634297 | |
CY2023Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
2000000000 | |
CY2023Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
CY2023Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
200000000 | |
CY2023Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.01 | |
CY2023Q3 | ciss |
Number Of Days From The Closing Bid Price Of Common Stock
NumberOfDaysFromTheClosingBidPriceOfCommonStock
|
P30D | |
CY2023Q3 | ciss |
Number Of Grace Period Days Applicable To Regain Compliance
NumberOfGracePeriodDaysApplicableToRegainCompliance
|
P180D | |
CY2023Q3 | ciss |
Due Date Declared To Regain Compliance
DueDateDeclaredToRegainCompliance
|
2024-02-20 | |
CY2024Q1 | ciss |
Due Date Declared To Regain Compliance
DueDateDeclaredToRegainCompliance
|
2024-08-19 | |
CY2023 | ciss |
Warrants
Warrants
|
No | |
CY2023Q3 | us-gaap |
Preferred Stock Convertible Conversion Price
PreferredStockConvertibleConversionPrice
|
105 | |
CY2023 | ciss |
Down Round Deemed Dividends Preferred Stock
DownRoundDeemedDividendsPreferredStock
|
171968 | |
CY2023 | us-gaap |
Dividends Preferred Stock
DividendsPreferredStock
|
404167 | |
CY2023 | us-gaap |
Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
|
241667 | |
CY2023Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
|
43 | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
3608700 | ||
us-gaap |
Net Income Loss
NetIncomeLoss
|
17459352 | ||
us-gaap |
Net Income Loss
NetIncomeLoss
|
551586 | ||
CY2023 | us-gaap |
Net Income Loss
NetIncomeLoss
|
9291912 | |
ciss |
Preferred Stock Down Round Deemed Dividends Adjustment
PreferredStockDownRoundDeemedDividendsAdjustment
|
0 | ||
CY2023 | ciss |
Preferred Stock Down Round Deemed Dividends Adjustment
PreferredStockDownRoundDeemedDividendsAdjustment
|
-171968 | |
us-gaap |
Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
|
0 | ||
CY2023 | us-gaap |
Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
|
-188357 | |
us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
551586 | ||
us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
551586 | ||
CY2023 | us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
8527420 | |
CY2023 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
8527420 | |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
31826 | ||
CY2023 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
54217 | |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
74683 | ||
CY2023 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
146116 | |
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
17.33 | ||
CY2023 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
157.28 | |
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
7.39 | ||
CY2023 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
63.08 | |
CY2023 | us-gaap |
Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
|
7947 | |
us-gaap |
Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
|
3287101 | ||
CY2023 | us-gaap |
Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
|
28738982 | |
ciss |
Crew Wages And Related Costs
CrewWagesAndRelatedCosts
|
504762 | ||
CY2023 | ciss |
Crew Wages And Related Costs
CrewWagesAndRelatedCosts
|
2793031 | |
ciss |
Insurance
Insurance
|
63164 | ||
CY2023 | ciss |
Insurance
Insurance
|
234649 | |
us-gaap |
Cost Of Property Repairs And Maintenance
CostOfPropertyRepairsAndMaintenance
|
95585 | ||
CY2023 | us-gaap |
Cost Of Property Repairs And Maintenance
CostOfPropertyRepairsAndMaintenance
|
417680 | |
ciss |
Spares And Consumable Stores
SparesAndConsumableStores
|
209417 | ||
CY2023 | ciss |
Spares And Consumable Stores
SparesAndConsumableStores
|
957360 | |
ciss |
Miscellaneous Expenses
MiscellaneousExpenses
|
23344 | ||
CY2023 | ciss |
Miscellaneous Expenses
MiscellaneousExpenses
|
393066 | |
ciss |
Vessel Operating Expenses One
VesselOperatingExpensesOne
|
896272 | ||
CY2023 | ciss |
Vessel Operating Expenses One
VesselOperatingExpensesOne
|
4795786 | |
CY2023Q4 | ciss |
Future Minimum Payments Due Future Minimum Sublease Rentals For Next Twelve Months
FutureMinimumPaymentsDueFutureMinimumSubleaseRentalsForNextTwelveMonths
|
900000 | |
CY2023Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
|
7947 | |
CY2023Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
43 | |
CY2022Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
|
0 | |
CY2022Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
|
0 | |
CY2023 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
|
7947 | |
CY2023 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
43 | |
CY2023Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
|
7947 | |
us-gaap |
Depreciation
Depreciation
|
441749 | ||
us-gaap |
Depreciation
Depreciation
|
479171 | ||
us-gaap |
Amortization Of Deferred Charges
AmortizationOfDeferredCharges
|
1596 | ||
us-gaap |
Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
|
6272431 | ||
us-gaap |
Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
|
12847729 | ||
us-gaap |
Revenues
Revenues
|
6272431 | ||
us-gaap |
Revenues
Revenues
|
12847729 | ||
ciss |
Voyage Expenses
VoyageExpenses
|
-365339 | ||
ciss |
Voyage Expenses
VoyageExpenses
|
-663064 | ||
ciss |
Vessel Operating Expenses
VesselOperatingExpenses
|
-1531278 | ||
ciss |
Vessel Operating Expenses
VesselOperatingExpenses
|
-2380986 | ||
ciss |
Vessel Operating Expenses Related Party
VesselOperatingExpensesRelatedParty
|
-12000 | ||
ciss |
Vessel Operating Expenses Related Party
VesselOperatingExpensesRelatedParty
|
-22700 | ||
ciss |
Dry Docking Costs
DryDockingCosts
|
-138780 | ||
ciss |
Dry Docking Costs
DryDockingCosts
|
-799333 | ||
ciss |
Depreciation Net Off Write Backs
DepreciationNetOffWriteBacks
|
-441749 | ||
ciss |
Depreciation Net Off Write Backs
DepreciationNetOffWriteBacks
|
-479171 | ||
ciss |
Management Fees
ManagementFees
|
-94160 | ||
ciss |
Management Fees
ManagementFees
|
-189640 | ||
ciss |
General And Administration Expenses Net Off Write Backs
GeneralAndAdministrationExpensesNetOffWriteBacks
|
-35021 | ||
ciss |
General And Administration Expenses Net Off Write Backs
GeneralAndAdministrationExpensesNetOffWriteBacks
|
-2397 | ||
us-gaap |
Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
|
-9268610 | ||
us-gaap |
Operating Expenses
OperatingExpenses
|
-2618327 | ||
us-gaap |
Operating Expenses
OperatingExpenses
|
4731319 | ||
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
3654104 | ||
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
17579048 | ||
us-gaap |
Interest And Debt Expense
InterestAndDebtExpense
|
45623 | ||
us-gaap |
Interest And Debt Expense
InterestAndDebtExpense
|
194633 | ||
us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
59716 | ||
us-gaap |
Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
219 | ||
us-gaap |
Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
15221 | ||
us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-45404 | ||
us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-119696 | ||
us-gaap |
Net Income Loss
NetIncomeLoss
|
3608700 | ||
us-gaap |
Net Income Loss
NetIncomeLoss
|
17459352 | ||
us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
0 | ||
us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
0 | ||
us-gaap |
Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
|
3608700 | ||
us-gaap |
Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
|
17459352 | ||
CY2021Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
0 | |
ciss |
Shareholders Capital Account Contributions
ShareholdersCapitalAccountContributions
|
11492334 | ||
ciss |
Shareholders Capital Account Return Of Capital
ShareholdersCapitalAccountReturnOfCapital
|
6350000 | ||
us-gaap |
Net Income Loss
NetIncomeLoss
|
3608700 | ||
CY2021Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
8751034 | |
ciss |
Shareholders Capital Account Contributions
ShareholdersCapitalAccountContributions
|
16686500 | ||
us-gaap |
Net Income Loss
NetIncomeLoss
|
17459352 | ||
CY2022Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
42896886 | |
us-gaap |
Amortization Of Deferred Charges
AmortizationOfDeferredCharges
|
49704 | ||
us-gaap |
Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
|
9268610 | ||
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
200371 | ||
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
1116348 | ||
us-gaap |
Increase Decrease In Due From Related Parties
IncreaseDecreaseInDueFromRelatedParties
|
4061422 | ||
us-gaap |
Increase Decrease In Due From Related Parties
IncreaseDecreaseInDueFromRelatedParties
|
-932765 | ||
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
30821 | ||
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
43863 | ||
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
60180 | ||
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
-39387 | ||
us-gaap |
Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
|
146043 | ||
us-gaap |
Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
|
503240 | ||
us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
142628 | ||
us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
-23026 | ||
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-12078 | ||
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
9011772 | ||
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
11635335 | ||
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
15978923 | ||
us-gaap |
Proceeds From Sale Of Other Property Plant And Equipment
ProceedsFromSaleOfOtherPropertyPlantAndEquipment
|
20332790 | ||
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-11635335 | ||
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
4353867 | ||
ciss |
Shareholders Capital Account Contributions
ShareholdersCapitalAccountContributions
|
11492334 | ||
ciss |
Shareholders Capital Account Contributions
ShareholdersCapitalAccountContributions
|
16686500 | ||
ciss |
Shareholders Capital Account Return Of Capital
ShareholdersCapitalAccountReturnOfCapital
|
6350000 | ||
us-gaap |
Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
|
7330000 | ||
us-gaap |
Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
|
7330000 | ||
ciss |
Deferred Finance Charges Paid
DeferredFinanceChargesPaid
|
-51300 | ||
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
12421034 | ||
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
9356500 | ||
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
773621 | ||
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
22722139 | ||
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
773621 | |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
773621 | |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
23495760 | |
CY2021Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
18992 | |
CY2022Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
23495760 | |
CY2021Q4 | us-gaap |
Restricted Cash Current
RestrictedCashCurrent
|
254629 | |
CY2021Q4 | us-gaap |
Restricted Cash Noncurrent
RestrictedCashNoncurrent
|
500000 | |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
773621 | |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
23495760 | |
us-gaap |
Contribution Of Property
ContributionOfProperty
|
39819 | ||
us-gaap |
Interest Paid Net
InterestPaidNet
|
171085 | ||
CY2022Q3 | us-gaap |
Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
|
39000000 | |
us-gaap |
Use Of Estimates
UseOfEstimates
|
<div style="text-indent: 4%; font-family: Times New Roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;"><div style="font-style: normal; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-style:italic;display:inline;">Use of Estimates:</div></div></div></div> The preparation of the combined financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of <div style="display:inline;">revenues </div>and expenses during the reporting period. Actual results could differ from those estimates. </div></div> | ||
us-gaap |
Asset Impairment Charges
AssetImpairmentCharges
|
0 | ||
us-gaap |
Management Fee Expense
ManagementFeeExpense
|
94160 | ||
us-gaap |
Management Fee Expense
ManagementFeeExpense
|
189640 | ||
CY2021Q4 | us-gaap |
Debt Instrument Face Amount
DebtInstrumentFaceAmount
|
33300000 | |
CY2021Q4 | us-gaap |
Debt Instrument Date Of First Required Payment1
DebtInstrumentDateOfFirstRequiredPayment1
|
2021-10-15 | |
CY2021Q4 | us-gaap |
Debt Instrument Basis Spread On Variable Rate1
DebtInstrumentBasisSpreadOnVariableRate1
|
0.0215 | |
CY2021Q4 | us-gaap |
Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
|
7330000 | |
CY2021Q4 | us-gaap |
Debt Instrument Frequency Of Periodic Payment
DebtInstrumentFrequencyOfPeriodicPayment
|
eleven semi-annual instalments | |
CY2021Q4 | us-gaap |
Debt Instrument Periodic Payment
DebtInstrumentPeriodicPayment
|
500000 | |
CY2021Q4 | us-gaap |
Debt Instrument Periodic Payment Terms Balloon Payment To Be Paid
DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid
|
1830000 | |
us-gaap |
Interest Expense Borrowings
InterestExpenseBorrowings
|
135437 | ||
us-gaap |
Interest Expense Borrowings
InterestExpenseBorrowings
|
35648 | ||
CY2021Q4 | ciss |
Weighted Average Interest Of Long Term Debt
WeightedAverageInterestOfLongTermDebt
|
0.024 | |
ciss |
Weighted Average Interest Of Long Term Debt
WeightedAverageInterestOfLongTermDebt
|
0.04 | ||
ciss |
Crew Wages And Related Costs
CrewWagesAndRelatedCosts
|
1146110 | ||
ciss |
Insurance
Insurance
|
78812 | ||
ciss |
Insurance
Insurance
|
142520 | ||
us-gaap |
Cost Of Property Repairs And Maintenance
CostOfPropertyRepairsAndMaintenance
|
235264 | ||
CY2021Q1 | us-gaap |
Proceeds From Contributed Capital
ProceedsFromContributedCapital
|
11492334 | |
CY2021Q4 | ciss |
Repayment Of Capital Contribution
RepaymentOfCapitalContribution
|
6350000 | |
CY2022Q2 | us-gaap |
Proceeds From Contributed Capital
ProceedsFromContributedCapital
|
16686500 | |
us-gaap |
Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
|
6272431 | ||
us-gaap |
Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
|
12847729 | ||
ciss |
Crew Wages And Related Costs
CrewWagesAndRelatedCosts
|
735045 | ||
us-gaap |
Cost Of Property Repairs And Maintenance
CostOfPropertyRepairsAndMaintenance
|
429575 | ||
ciss |
Spares And Consumable Stores
SparesAndConsumableStores
|
322389 | ||
ciss |
Spares And Consumable Stores
SparesAndConsumableStores
|
461925 | ||
ciss |
Miscellaneous Expenses
MiscellaneousExpenses
|
171768 | ||
ciss |
Miscellaneous Expenses
MiscellaneousExpenses
|
223556 | ||
ciss |
Vessel Operating Expenses One
VesselOperatingExpensesOne
|
1543278 | ||
ciss |
Vessel Operating Expenses One
VesselOperatingExpensesOne
|
2403686 |