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FY2025
12 months to Dec 31, 2025
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FY2024
12 months to Dec 31, 2024
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FY2023
12 months to Dec 31, 2023
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FY2022
12 months to Dec 31, 2022
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FY2021
12 months to Dec 31, 2021
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|---|---|---|---|---|---|
| Cash flows from operating activities: | |||||
| Net income | |||||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||
| Depreciation and amortization | |||||
| Amortization of deferred dry-docking costs | |||||
| Amortization of deferred finance costs and debt discounts | |||||
| Amortization of convertible note beneficial conversion feature | |||||
| Stock based compensation | |||||
| Loss on extinguishment of debt | |||||
| Gain on spin-off of United Maritime Corporation | |||||
| Gain on sale of vessel, net | |||||
| Gain on sale of vessels, net - related party | |||||
| Gain on foreign exchange forward contract | |||||
| Changes in operating assets and liabilities: | |||||
| Accounts receivable trade, net | |||||
| Due (to) / from related parties | |||||
| Inventories | |||||
| Prepaid expenses | |||||
| Other current assets | |||||
| Deferred voyage expenses | |||||
| Deferred charges, non-current | |||||
| Intangible assets, current | |||||
| Intangible assets, non-current | |||||
| Other non-current assets | |||||
| Trade accounts and other payables | |||||
| Accrued liabilities | |||||
| Other liabilities, non-current | |||||
| Deferred revenue | |||||
| Deferred revenue, non-current | |||||
| Net cash provided by operating activities | |||||
| Cash flows from investing activities: | |||||
| Proceeds from sale of vessels/assets held for sale | |||||
| Due from related parties | |||||
| Vessels acquisitions and improvements | |||||
| Advances for vessel acquisition | |||||
| Loan to related party | |||||
| Repayment of loan by related party | |||||
| Investment in equity securities | |||||
| Deposits assets, non-current | |||||
| Advances from related party from sale of vessels | |||||
| Investment in Series C preferred shares | |||||
| Proceeds from redemption of Series C preferred shares | |||||
| Term deposits | |||||
| Purchase of other fixed assets | |||||
| Net cash (used in) / provided by investing activities | |||||
| Cash flows from financing activities: | |||||
| Proceeds from long-term debt and other financial liabilities | |||||
| Proceeds from issuance of preferred stock | |||||
| Proceeds from other non-current liabilities | |||||
| Repayments of long-term debt and other financial liabilities | |||||
| Repayments of convertible notes | |||||
| Payments for repurchase of common stock | |||||
| Payments for repurchase of warrants | |||||
| Dividend payments | |||||
| Payments of financing and stock issuance costs | |||||
| Payments of finance lease liabilities | |||||
| Payments of fractional shares due to reverse stock split | |||||
| Net cash (used in) / provided by financing activities | |||||
| Net increase / (decrease) in cash and cash equivalents and restricted cash | |||||
| Cash and cash equivalents and restricted cash at beginning of period | |||||
| Cash and cash equivalents and restricted cash at end of period | |||||
| SUPPLEMENTAL CASH FLOW INFORMATION | |||||
| Cash paid during the period for: | |||||
| Interest | |||||
| Noncash Investing and Financing Items | |||||
| Noncash investing activities: | |||||
| Vessel under construction | |||||
| Vessels acquisitions and improvements | |||||
| Finance lease, right-of use assets and initial direct costs | |||||
| Noncash financing activities: | |||||
| Dividends declared but not paid (Note 11) | |||||
| Financing and stock issuance costs | |||||
| Units issued for repayment of subordinated long-term debt (Note 8) | |||||
| Repayment of subordinated long-term debt by issuance of units (Note 8) | |||||
| Common shares issued by conversion of notes | |||||
| Notes reduction via conversion | |||||
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