Pyxis Tankers (PXS) 6-K 12 Aug 22 Pyxis Tankers Announces Date for the Release of the Second Quarter 2022 Results Financial data

Cover

Cover	6 Months Ended
	Jun. 30, 2022
Cover [Abstract]
Document Type	6-K
Amendment Flag	false
Document Period End Date	Jun. 30, 2022
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2022
Current Fiscal Year End Date	--12-31
Entity File Number	001-37611
Entity Registrant Name	Pyxis Tankers Inc.
Entity Central Index Key	0001640043
Entity Address, Address Line One	59 K. Karamanli Street
Entity Address, City or Town	Maroussi
Entity Address, Country	GR
Entity Address, Postal Zip Code	15125
City Area Code	30
Local Phone Number	210 638 0200

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
CURRENT ASSETS:
Cash and cash equivalents	$ 3,636	$ 6,180
Restricted cash, current portion	355	944
Inventories	3,466	1,567
Trade accounts receivable	5,285	1,736
Less: Allowance for credit losses	(20)	(20)
Trade accounts receivable, net	5,265	1,716
Vessels held-for-sale		8,509
Prepayments and other current assets	284	186
Insurance claim receivable	1,933
Total current assets	14,939	19,102
FIXED ASSETS, NET:
Vessels, net	117,255	119,724
Total fixed assets, net	117,255	119,724
OTHER NON-CURRENT ASSETS:
Restricted cash, net of current portion	2,250	2,750
Financial derivative instrument	394	74
Deferred dry dock and special survey costs, net	929	912
Total other non-current assets	3,573	3,736
Total assets	135,767	142,562
CURRENT LIABILITIES:
Current portion of long-term debt, net of deferred financing costs	5,867	11,695
Trade accounts payable	5,590	3,084
Due to related parties	5,659	6,962
Accrued and other liabilities	910	1,089
Total current liabilities	18,026	22,830
NON-CURRENT LIABILITIES:
Long-term debt, net of current portion and deferred financing costs	61,967	64,880
Promissory note	6,000	6,000
Total non-current liabilities	67,967	70,880
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS’ EQUITY:
Preferred stock ($0.001 par value; 50,000,000 shares authorized; of which 1,000,000 authorized Series A Convertible Preferred Shares; 449,673 Series A Convertible Preferred Shares issued and outstanding as at December 31, 2021 and June 30, 2022)
Common stock ($0.001 par value; 450,000,000 shares authorized; 10,613,424 shares issued and outstanding as at December 31, 2021 and June 30, 2022, respectively)	42	42
Additional paid-in capital	111,840	111,840
Accumulated deficit	(62,108)	(63,030)
Total stockholders’ equity	49,774	48,852
Total liabilities and stockholders’ equity	$ 135,767	$ 142,562

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2022	Dec. 31, 2021
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	50,000,000	50,000,000
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	450,000,000	450,000,000
Common stock, shares issued	10,613,424	10,613,424
Common stock, shares outstanding	10,613,424	10,613,424
Series A Convertible Preferred Shares [Member]
Preferred stock, par value		$ 0.001
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	449,673	449,673
Preferred stock, shares outstanding	449,673	449,673

Interim Consolidated Statements

Interim Consolidated Statements of Comprehensive Income / (Loss) (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Income Statement [Abstract]
Revenues, net	$ 22,968	$ 10,228
Expenses:
Voyage related costs and commissions	(7,802)	(1,804)
Vessel operating expenses	(6,324)	(5,342)
General and administrative expenses	(1,312)	(1,226)
Management fees, related parties	(394)	(300)
Management fees, other	(516)	(387)
Amortization of special survey costs	(175)	(203)
Depreciation	(3,024)	(2,194)
Bad debt provisions	(50)
Allowance for credit losses	(4)	(9)
Loss from the sale of vessels, net	(466)
Operating income / (loss)	2,901	(1,237)
Other expenses, net:
Loss from debt extinguishments	(34)	(458)
Gain from financial derivative instrument	320
Interest and finance costs, net	(1,829)	(1,750)
Total other expenses, net	(1,543)	(2,208)
Net income / (loss)	1,358	(3,445)
Dividend Series A Convertible Preferred Stock	(449)	(153)
Net income / (loss) attributable to common shareholders	$ 909	$ (3,598)
Income / (loss) per common share, basic and diluted	$ 0.09	$ (0.43)
Weighted average number of common shares, basic and diluted	10,613,424	8,332,033

Interim Consolidated Statemen_2

Interim Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Series A Convertible Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Beginning balance, value at Dec. 31, 2020		$ 22	$ 79,692	$ (50,155)	$ 29,559
Balance, shares at Dec. 31, 2020	181,475	5,490,720
Issuance of common stock under the PIPE, net		$ 14	23,129		23,143
Issuance of common stock under the PIPE, net, Shares		3,571,429
Issuance of common stock under the promissory note		$ 1	1,111		1,112
Issuance of common stock under the promissory note, shares		16,112
Conversion of Series A Convertible Preferred Shares to common stock		$ 1	(1)
Conversion of Series A Convertible Preferred Shares to common stock, shares	(40,289)	180,106
Common stock from exercise of warrants			202		202
Common stock from exercise of warrants, shares		36,125
Preferred stock dividends				(151)	(151)
Net income				(3,445)	(3,445)
Ending balance, value at Jun. 30, 2021		$ 38	104,133	(53,751)	50,420
Balance, shares at Jun. 30, 2021	141,186	9,294,492
Beginning balance, value at Dec. 31, 2021		$ 42	111,840	(63,030)	48,852
Balance, shares at Dec. 31, 2021	449,673	10,613,964
Preferred stock dividends				(436)	(436)
Net income				1,358	1,358
Ending balance, value at Jun. 30, 2022		$ 42	$ 111,840	$ (62,108)	$ 49,774
Balance, shares at Jun. 30, 2022	449,673	10,613,964

Interim Consolidated Statemen_3

Interim Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash flows from operating activities:
Net loss	$ 1,358	$ (3,445)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation	3,024	2,194
Amortization and write-off of special survey costs	175	203
Allowance for credit losses	4	9
Amortization and write-off of financing costs	155	111
Loss from debt extinguishment	34	458
Gain from financial derivative instruments	(320)
Bad debt provisions	50
Issuance of common stock under the promissory note		55
Changes in assets and liabilities:
Inventories	(1,899)	(807)
Due to related parties	1,691	1,710
Trade accounts receivable, net	(3,602)	151
Prepayments and other assets	(98)	(39)
Insurance claim receivable	(1,933)
Special survey cost	(445)
Trade accounts payable	2,759	(1,322)
Hire collected in advance		(726)
Accrued and other liabilities	(179)	322
Net cash provided by / (used in) operating activities	774	(1,126)
Cash flow from investing activities:
Proceeds from the sale of vessel, net	8,509
Payments for vessel acquisition	(2,995)	(3,008)
Ballast water treatment system installation	(555)	(153)
Net cash provided by / (used in) investing activities	4,959	(3,161)
Cash flows from financing activities:
Proceeds from long-term debt		17,000
Repayment of long-term debt	(8,930)	(25,990)
Gross proceeds from issuance of common stock		25,000
Common stock offering costs		(1,774)
Proceeds from conversion of warrants into common shares		202
Repayment of promissory note		(1,000)
Payment of financing costs		(388)
Preferred stock dividends paid	(436)	(151)
Net cash (used in) / provided by financing activities	(9,366)	12,899
Net increase in cash and cash equivalents and restricted cash	(3,633)	8,612
Cash and cash equivalents and restricted cash at the beginning of the period	9,874	4,037
Cash and cash equivalents and restricted cash at the end of the period	6,241	12,649
SUPPLEMENTAL INFORMATION:
Cash paid for interest	1,722	1,781
Unpaid portion of Ballast water treatment system installation		21
Non-cash financing activities-issuance of common stock under the promissory note		1,112
Unpaid portion for common stock offering costs and financing cost		$ 131

Basis of Presentation and Gener

Basis of Presentation and General Information	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation and General Information	1. Basis of Presentation and General Information 100 five ● FOURTHONE CORPORATION LTD, established under the laws of the Republic of Malta (“Fourthone”); ● SEVENTHONE CORP., established under the laws of the Republic of the Marshall Islands (“Seventhone”); ● EIGHTHONE CORP., established under the laws of the Republic of the Marshall Islands (“Eighthone”); ● TENTHONE CORP., established under the laws of the Republic of the Marshall Islands (“Tenthone”); ● ELEVENTHONE CORP., established under the laws of the Republic of the Marshall Islands (“Eleventhone” and collectively with Fourthone, Seventhone, Eighthone and Tenthone the “Vessel-owning companies”). Pyxis Tankers Inc. also currently own 100 ● SECONDONE CORPORATION LTD, established under the laws of the Republic of Malta (“Secondone”) that owned the vessel “Northsea Alpha” that was sold to an unaffiliated third party on January 28, 2022; ● THIRDONE CORPORATION LTD, established under the laws of the Republic of Malta (“Thirdone”) that owned the vessel “Northsea Beta” that was sold to an unaffiliated third party on March 1, 2022; ● SIXTHONE CORP., established under the laws of the Republic of the Marshal Islands (“Sixthone”) that owned the vessel “Pyxis Delta” that was sold to an unaffiliated third party on January 13, 2020 and, ● MARITIME TECHNOLOGIES CORP, established under the laws of Delaware. All of the Vessel-owning companies are engaged in the marine transportation of liquid cargoes through the ownership and operation of tanker vessels, as listed below: Schedule of Ownership and Operation of Tanker Vessels Vessel-owning Company Incorporation date Vessel Dead Weight tons “DWT” Year built Acquisition date Fourthone 05/30/2007 Pyxis Malou 50,667 2009 02/16/2009 Seventhone 05/31/2011 Pyxis Theta 51,795 2013 09/16/2013 Eighthone 02/08/2013 Pyxis Epsilon 50,295 2015 01/14/2015 Tenthone 04/22/2021 Pyxis Karteria 46,652 2013 07/15/2021 Eleventhone 11/09/2021 Pyxis Lamda 50,145 2017 12/20/2021 Effective May 13, 2022, the Company effected a four-for-one reverse stock split on its issued and outstanding common stock. All share and per share amounts disclosed in the accompanying financial statements give effect to this reverse stock split retroactively, for all periods presented. The accompanying Unaudited Interim Condensed Consolidated Financial Statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) and applicable rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) for interim financial information. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete annual financial statements. In the opinion of the management of the Company, all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation of financial position, operating results and cash flows have been included in the accompanying Unaudited Interim Condensed Consolidated Financial Statements. Interim results are not necessarily indicative of results that may be expected for the year ending December 31, 2022. These Unaudited Interim Condensed Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and footnotes for the year ended December 31, 2021, included in the Company’s Annual Report on Form 20-F filed with the SEC on April 1, 2022 (the “2021 Annual Report”). Revenues for the six month periods ended June 30, 2021 and 2022, deriving from significant charterers individually accounting for 10% or more of revenues (in percentages of total revenues), were as follows: Summary of Revenue from Significant Charterers for 10% or More of Revenue Charterer Six months ended June 30, 2021 2022 A 0 % 36 % B 0 % 23 % C 62 % 0 % Total 62 % 59 % PYXIS TANKERS INC. Notes to the Unaudited Interim Condensed Consolidated Financial Statements (Expressed in thousands of U.S. dollars, except for share and per share data) 1. Basis of Presentation and General Information: -Continued: The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the accompanying Consolidated Balance Sheets that are presented in the accompanying interim condensed consolidated statement of cash flows for the six month periods ended June 30, 2021 and 2022. Schedule of Reconciliation of Cash and Cash Equivalents and Restricted Cash June 30, June 30, 2021 2022 Cash and cash equivalents $ 10,199 $ 3,636 Restricted cash, current portion — 355 Restricted cash, net of current portion 2,450 2,250 Total cash and cash equivalents and restricted cash $ 12,649 $ 6,241 PYXIS MARITIME CORP. (“Maritime”), a corporation established under the laws of the Republic of the Marshall Islands, which is beneficially owned by Mr. Valentios (“Eddie”) Valentis, the Company’s Chairman, Chief Executive Officer and Class I Director, provides certain ship management services to the Vessel-owning companies, as discussed in Note 3. With effect from the delivery of each vessel, the crewing and technical management of the vessels were contracted to INTERNATIONAL TANKER MANAGEMENT LTD. (“ITM”) with permission from Maritime. ITM is an unrelated third party technical manager, represented by its branch based in Dubai, UAE. Each ship-management agreement with ITM is in force until it is terminated by either party. The ship-management agreements can be cancelled either by the Company or ITM for any reason at any time upon three months’ advance notice. As of June 30, 2022, the Company had a working capital deficit of $ 3,087 As of June 30, 2022, Mr. Valentis beneficially owned approximately 54.0

Significant Accounting Policies

Significant Accounting Policies	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Significant Accounting Policies	2. Significant Accounting Policies The accounting policies followed in the preparation of these Unaudited Interim Condensed Consolidated Financial Statements are the same with those applied in the preparation of the Company’s Consolidated Financial Statements for the year ended December 31, 2021. See Note 2 to the Company’s Consolidated Financial Statements for the year ended December 31, 2021, included in the 2021 Annual Report. There have been no material changes to these policies in the six month period ended June 30, 2022, except as discussed below: Recent Accounting Pronouncements In August 2020, the FASB issued ASU No. 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity. The ASU reduces the number of accounting models for convertible debt instruments by eliminating the cash conversion model. As compared with current U.S. GAAP, more convertible debt instruments will be reported as a single liability instrument and the interest rate of more convertible debt instruments will be closer to the coupon interest rate. The ASU also aligns the consistency of diluted Earnings Per Share (“EPS”) calculations for convertible instruments by requiring that (1) an entity use the if-converted method and (2) share settlement be included in the diluted EPS calculation for both convertible instruments and equity contracts when those contracts include an option of cash settlement or share settlement. The ASU is effective for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. The FASB has specified that an entity should adopt the guidance as of the beginning of its annual fiscal year. The Company adopted the standard within the period. The adoption of the standard did not have any effect on the Company’s Unaudited Interim Condensed Consolidated Financial Statements and related disclosures. PYXIS TANKERS INC. Notes to the Unaudited Interim Condensed Consolidated Financial Statements (Expressed in thousands of U.S. Dollars, except for share and per share data) 2. Significant Accounting Policies: – Continued: In May 2021, the FASB issued ASU No. 2021-04, Earnings Per Share (Topic 260), Debt—Modifications and Extinguishments (Subtopic 470-50), Compensation—Stock Compensation (Topic 718), and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options. The amendments in ASU No. 2021-04 provides guidance to clarify and reduce diversity in an issuer’s accounting for modifications or exchanges of freestanding equity-classified written call options (for example, warrants) that remain equity classified after modification or exchange. The amendments in this ASU No. 2021-04 are effective for all entities for fiscal years beginning after December 15, 2021, and interim periods within those fiscal years, with early adoption permitted, including interim periods within those fiscal years. The Company adopted the standard within the period. The adoption of the standard did not have any effect on the Company’s Unaudited Interim Condensed Consolidated Financial Statements and related disclosures. In July 2021, the FASB issued ASU No. 2021-05 Leases (Topic 842): Lessors-Certain Leases with Variable Lease Payments. The ASU amends the lessor lease classification guidance in ASC 842 for leases that include any amount of variable lease payments that are not based on an index or rate. If such a lease meets the criteria in ASC 842-10-25-2 through 25-3 for classification as either a sales-type or direct financing lease, and application of the sales-type or direct financing lease recognition guidance would result in recognition of a selling loss, then the amendments require the lessor to classify the lease as an operating lease. For public business entities that have adopted ASC 842 as of July 19, 2021, the amendments in ASU 2021-05 are effective for fiscal years beginning after December 15, 2021 and for interim periods within those fiscal years. The Company adopted the standard within the period. The adoption of the standard did not have any effect on the Company’s Unaudited Interim Condensed Consolidated Financial Statements and related disclosures. Recent Accounting Pronouncements – Not Yet Adopted In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform. ASU 2020-04 applies to contracts that reference LIBOR or another reference rate expected to be terminated because of reference rate reform. In January 2021, the FASB issued ASU 2021-01, Reference Rate Reform (Topic 848). The amendments in this Update clarify that certain optional expedients and exceptions in Topic 848 for contract modifications and hedge accounting apply to derivative instruments that use an interest rate for margining, discounting, or contract price alignment that is modified as a result of reference rate reform. Amendments in this Update to the expedients and exceptions in Topic 848 capture the incremental consequences of the scope clarification and tailor the existing guidance to derivative instruments affected by the discounting transition. The amendments in this Update apply to all entities that elect to apply the optional guidance in Topic 848. ASU 2020-04 and ASU 2021-10 can be adopted as of March 12, 2020 through December 31, 2022. As of December 31, 2021, the Company has not yet elected any optional expedients provided in the standard. The Company will apply the accounting relief as relevant contract and hedge accounting relationship modifications are made during the reference rate reform transition period. The Company will continue to monitor and evaluate its contracts and the effects of this standard on its consolidated financial position, results of operations, and cash flows.

Transactions with Related Parti

Transactions with Related Parties	6 Months Ended
	Jun. 30, 2022
Related Party Transactions [Abstract]
Transactions with Related Parties	3. Transactions with Related Parties The following transactions with related parties occurred during the six month periods ended June 30, 2021 and 2022. (a) Maritime The following amounts were charged by Maritime pursuant to the head management and ship-management agreements with the Company, and are included in the accompanying unaudited interim Consolidated Statements of Comprehensive Income / (Loss): Schedule of Amounts Charged by Maritime Included in the Accompanying Consolidated Statements of Comprehensive Loss 2021 2022 Six months ended June 30, 2021 2022 Included in Voyage related costs and commissions Charter hire commissions $ 129 $ 289 Included in Management fees, related parties Ship-management Fees 300 394 Included in General and administrative expenses Administration Fees 809 819 Total $ 1,238 $ 1,502 PYXIS TANKERS INC. Notes to the Unaudited Interim Condensed Consolidated Financial Statements (Expressed in thousands of U.S. Dollars, except for share and per share data) 3. Transactions with Related Parties: – Continued: As of December 31, 2021 and June 30, 2022, the balances due to Maritime were $ 3,967 5,659 The Company uses the services of Maritime, to provide a wide range of shipping services, including but not limited to, chartering, sale and purchase, insurance, operations and dry-docking and construction supervision (if any), all provided at a fixed daily fee per vessel (the “Head Management Agreement”). For the ship management services, Maritime charges a fee payable by each subsidiary of $ 0.325 0.450 1.25 1,600 In the event of a change of control of the Company during the management period or within 12 months after the early termination of the Head Management Agreement, then the Company will pay to Maritime an amount equal to 2.5 times the then annual Administration Fees. Pursuant to the amendment of this agreement on March 18, 2020, in the event of such change of control and termination, the Company shall also pay to Maritime an amount equal to 12 months of the then daily Ship-management Fees. The Ship-management Fees and the Administration Fees are adjusted annually according to the official inflation rate in Greece or such other country where Maritime was headquartered during the preceding year. On August 9, 2016, the Company amended the Head Management Agreement with Maritime to provide that in the event that the official inflation rate for any calendar year is deflationary, no adjustment shall be made to the Ship-management Fees and the Administration Fees, which will remain, for the particular calendar year, as per the previous calendar year. Effective January 1, 2019 and 2020, the Ship-management Fees and the Administration Fees were increased by 0.62%, and, 0.26% respectively, in line with the average inflation rate of Greece for 2018 and 2019. For 2020, the average rate in Greece was a deflation of 1.24% and, as a result, no adjustment was made to the Ship-management Fees and the Administration Fees effective January 1, 2021, which remained, for the particular calendar year, as per the previous year. Effective January 1, 2022, the Ship-management Fees and the Administration Fees were increased by 1.23% in line with the average inflation rate of Greece for 2021. (b) Maritime Investors Corp.: On May 14, 2019, the Company entered into a second amendment to the Amended & Restated Promissory Note which (i) extended the repayment of the outstanding principal, in whole or in part, until the earlier of a) one year after the repayment of the credit facility of Eighthone with Entrust Permal (the “Credit Facility”) on September 2023 (see Note 7), b) January 15, 2024 and c) repayment of any payment-in-kind (“PIK”) interest and principal deficiency amount under the Credit Facility, and (ii) increased the interest rate to 9.0 4.5 4.5 With respect to the portion of interest that was to be settled in common shares, the Company considered the guidance in ASC 480 that requires obligations that can be settled in shares with a fixed monetary value at settlement (e.g., share-settled debt) to be carried at fair value and followed the guidance in ASC 835-30 to accrue the liability to the redemption amount using the interest method. During 2021, the Promissory Note was restructured and amended as of May 27, 2021, on the following basis: a) repayment on June 17, 2021 of $ 1,000 433 1,000 1,091,062 0.9165 3,000 7.5 “Pyxis Lamda” 3,000 6,000 April 1, 2024 1,000 PYXIS TANKERS INC. Notes to the Unaudited Interim Condensed Consolidated Financial Statements (Expressed in thousands of U.S. Dollars, except for share and per share data) 3. Transactions with Related Parties: – Continued: On November 15, 2021, the Company signed a memorandum of agreement to acquire from an entity related to the family of the Company’s Chairman and Chief Executive Officer, the “Pyxis Lamda” 32,000 31,172 21,680 seven years 3 4,139,003 2.17 4.32 1,325 2,995 Interest charged on the Amended & Restated Promissory Note for the six months ended June 30, 2021 and 2022, amounted to $ 215 223 6,000

Inventories

Inventories	6 Months Ended
	Jun. 30, 2022
Inventory Disclosure [Abstract]
Inventories	4. Inventories The amounts in the accompanying Consolidated Balance Sheets are analyzed as follows: Schedule of Inventories December 31, June 30, 2021 2022 Lubricants $ 552 $ 546 Bunkers 1,015 2,920 Total $ 1,567 $ 3,466

Vessels, net

Vessels, net	6 Months Ended
	Jun. 30, 2022
Property, Plant and Equipment [Abstract]
Vessels, net	5. Vessels, net The amounts in the accompanying Consolidated Balance Sheets are analyzed as follows: Schedule of Vessels Vessel Accumulated Net Book Cost Depreciation Value Balance January 1, 2022 $ 148,175 $ (28,451 ) $ 119,724 Vessel additions — — — BWTS installation 555 — 555 Depreciation — (3,024 ) (3,024 ) Balance June 30, 2022 $ 148,730 $ (31,475 ) $ 117,255 On December 23, 2021, the Company entered into an agreement with a third-party to sell the small tankers, “Northsea Alpha” and “Northsea Beta”. Considering the required criteria by the relevant accounting standard, ASC 360-10-45-9, for the classification of the vessels as “held for sale”, the Company concluded that all the criteria were met for both vessels. As at December 31, 2021, the aggregate amount of $ 8,509 2,389 8,900 5,780 As of June 30, 2022, additions amounted to $ 555 “Pyxis Lamda” 437 118 As of June 30, 2022, the Company reviewed the carrying amount in connection with the estimated recoverable amount for each of its vessels held and used. This review indicated that such carrying amounts were fully recoverable for the Company’s vessels held and used and, consequently, no All of the Company’s vessels have been pledged as collateral to secure the bank loans discussed in Note 7. PYXIS TANKERS INC. Notes to the Unaudited Interim Condensed Consolidated Financial Statements (Expressed in thousands of U.S. Dollars, except for share and per share data)

Deferred dry dock and special s

Deferred dry dock and special survey costs, net	6 Months Ended
	Jun. 30, 2022
Deferred Dry Dock And Special Survey Costs Net
Deferred dry dock and special survey costs, net	6. Deferred dry dock and special survey costs, net The movement in deferred charges, net, in the accompanying Consolidated Balance Sheets are as follows: Schedule of Deferred Charges Dry docking costs Balance January 1, 2022 $ 912 Additions 192 Amortization of special survey costs (175 ) Balance June 30, 2022 $ 929 On January 14, 2022 “Pyxis Lamda” 438 185 7 “Pyxis Malou”

Long-term Debt

Long-term Debt	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Long-term Debt	7. Long-term Debt The amounts shown in the accompanying Consolidated Balance Sheets at December 31, 2021 and June 30, 2022, are analyzed as follows: Schedule of Long-Term Debt December 31, June 30, Vessel (Borrower) 2021 2022 (a) “Northsea Alpha” (Secondone) $ 2,890 $ — (a) “Northsea Beta” (Thirdone) 2,890 — (b) “Pyxis Malou” (Fourthone) 7,320 6,968 (c) “Pyxis Theta” (Seventhone) 13,750 13,150 (d) “Pyxis Epsilon” (Eighthone) 16,100 15,500 (e) “Pyxis Karteria” (Tenthone) 13,150 12,450 (b) “Pyxis Lamda” (Eleventhone) 21,680 20,782 Total $ 77,780 $ 68,850 Current portion $ 12,030 $ 6,150 Less: Current portion of deferred financing costs (335 ) (283 ) Current portion of long-term debt, net of deferred financing costs, current $ 11,695 $ 5,867 Long-term portion $ 65,750 $ 62,700 Less: Non-current portion of deferred financing costs (870 ) (733 ) Long-term debt, net of current portion and deferred financing costs, non-current $ 64,880 $ 61,967 (a) 2,890 500 February 2022 2,390 February 2023 On December 23, 2021, the Company entered into an agreement with a third-party to sell the small tankers, “Northsea Alpha” and “Northsea Beta” and the Company concluded that all the criteria required by the relevant accounting standard, ASC 360-10-45-9, for the classification of the vessels “Northsea Alpha” and “Northsea Beta” as “held for sale” were met. As at December 31, 2021, upon classification of “Northsea Alpha” and “Northsea Beta” as vessels held-for-sale, the aggregate outstanding loan balances of $ 5,780 (b) “Pyxis Malou” “Pyxis Lamda” PYXIS TANKERS INC. Notes to the Unaudited Interim Condensed Consolidated Financial Statements (Expressed in thousands of U.S. Dollars, except for share and per share data) 7. Long-term Debt: - Continued: On the same date, Fourthone drew down an amount of $ 7,320 7,320 6,968 176 3,800 December 2026 Upon delivery of “Pyxis Lamda” 21,680 20,782 449 12,700 December 2026 The loan bears interest at LIBOR plus a margin of 3.15 Standard loan covenants include, among others, a minimum liquidity and a minimum required Security Cover Ratio (“MSC”). The facility imposes certain customary covenants and restrictions with respect to, among other things, the borrower’s ability to distribute dividends, incur additional indebtedness, create liens, change its share capital, engage in mergers, or sell the vessel and a minimum collateral value to outstanding loan principal. Certain major covenants include, as defined in such agreements: Covenants: ● The borrowers undertook to maintain minimum deposit with the bank of $ 1,500 1,000 500 “Pyxis Malou” 500 “Pyxis Lamda” ● The ratio of the corporate guarantor’s total liabilities (exclusive of the Promissory Note) to market adjusted total assets is not to exceed 75 49.2 25.8 ● MSC is to be at least 125 ● No change of control shall be made directly or indirectly in the ownership, beneficial ownership, control or management of any of the borrower and the corporate guarantor or any share therein or the vessels, as a result of which less than 100% of the shares and voting rights in each borrower are owned by the corporate guarantor or less than 25% of the shares and voting rights in the corporate guarantor will remain in the ultimate legal and beneficial ownership of the beneficial shareholders. (c) 15,250 11,293 13,150 300 9,250 July 2025 Standard loan covenants include, among others, a minimum liquidity and a MSC. The facility imposes certain customary covenants and restrictions with respect to, among other things, the borrower’s ability to distribute dividends, incur additional indebtedness, create liens, change its share capital, engage in mergers, or sell the vessel and a minimum collateral value to outstanding loan principal. Certain major covenants include, as defined in such agreement: Covenants: ● The borrower undertakes to maintain minimum deposit with the bank of $ 500 ● The ratio of the corporate guarantor’s total liabilities (exclusive of the Promissory Note) to market adjusted total assets is not to exceed 75 49.2 25.8 ● MSC is to be at least 125 ● No change shall be made directly or indirectly in the ownership, beneficial ownership, control or management of Seventhone or of the Company or any share therein or the “Pyxis Theta” PYXIS TANKERS INC. Notes to the Unaudited Interim Condensed Consolidated Financial Statements (Expressed in thousands of U.S. Dollars, except for share and per share data) 7. Long-term Debt: - Continued: (d) 15,500 300 11,000 March 2026 3.35 Standard loan covenants include, among others, a minimum liquidity and a MSC. The facility imposes certain customary covenants and restrictions with respect to, among other things, the borrower’s ability to distribute dividends, incur additional indebtedness, create liens, change its share capital, engage in mergers, or sell the vessel and a minimum collateral value to outstanding loan principal. Certain major covenants include, as defined in such agreement: ● The borrower undertakes to maintain minimum deposit with the bank of $ 500 ● The ratio of the corporate guarantor’s total liabilities (exclusive of the Promissory Note) to market adjusted total assets is not to exceed 75 49.2 25.8 ● MSC is to be at least 125 ● No change shall be made directly or indirectly in the ownership, beneficial ownership, control or management of Eighthone or of Pyxis Tankers Inc. or any share therein or the “Pyxis Epsilon” (e) 13,500 “Pyxis Karteria” 13,500 As of June 30, 2022, the Tenthone outstanding loan balance amounting to $ 12,450 4,900 July 2028 350 300 4.8 Standard loan covenants of the Tenthone loan include, among others, a minimum liquidity and a MSC. Certain major covenants include, as defined in such agreement: ● The borrower undertakes to maintain minimum deposit with the bank of $ 250 ● The borrower undertakes to maintain a monthly retention account to ensure that, in each calendar month an amount equal with one third of the repayment instalment and the relevant aggregate amount of interest falling due which is payable on the next due date for payment must be transferred to the retention account. ● MSC is to be at least 120 ● Not less than 20% of the ultimate beneficial ownership of (i) the shares in the corporate guarantor and (ii) the ultimate voting rights attaching to such shares is held directly or indirectly by the permitted holder. Amounts presented in Restricted cash, current and non-current, in the Consolidated Balance Sheets are related to minimum cash and the retention account requirements imposed by the Company’s debt agreements. The annual principal payments required to be made after June 30, 2022, are as follows: Schedule of Principal Payments To June 30, Amount 2023 $ 6,150 2024 6,100 2025 6,100 2026 and thereafter 50,500 Total $ 68,850 Total interest expense on long-term debt and the Promissory Note for the six months ended June 30, 2021, and 2022, amounted to $ 1,629 1,686 5.93 4.30 PYXIS TANKERS INC. Notes to the Unaudited Interim Condensed Consolidated Financial Statements (Expressed in thousands of U.S. Dollars, except for share and per share data) 7. Long-term Debt: - Continued: As of June 30, 2022, the Company was in compliance with all of the loan covenants in its loan agreements and there was no amount available to be drawn down under the existing loan agreements.

Equity Capital Structure and Eq

Equity Capital Structure and Equity Incentive Plan	6 Months Ended
	Jun. 30, 2022
Retirement Benefits [Abstract]
Equity Capital Structure and Equity Incentive Plan	8. Equity Capital Structure and Equity Incentive Plan Effective May 13, 2022, the Company effected a four-for-one reverse stock split on its issued and outstanding common stock (Note 14). All share and per share amounts disclosed in the accompanying financial statements give effect to this reverse stock split retroactively, for all periods presented. The Company’s authorized common and preferred stock consists of 450,000,000 50,000,000 1,000,000 As of December 31, 2021 and June 30, 2022, the Company had a total of 42,455,857 10,613,424 449,673 0.001 1,590,540 4,683 4,683 24.97 16,000 16,000 1.40 5.60 428,571 2.1875 125 There were no conversions and exercises during the first quarter of 2022 and after June 30, 2022 and up to the date of these Unaudited Interim Condensed Consolidated Financial Statements. During the months of January through June, 2022 the Company paid monthly cash dividends of $ 0.1615 436 5,731,942 54.0

Income _ Loss per Common Share

Income / Loss per Common Share	6 Months Ended
	Jun. 30, 2022
Income Loss Per Common Share
Income / Loss per Common Share	9. Income / Loss per Common Share Schedule of Loss Per Common Share 2021 2022 Six months ended June 30, 2021 2022 Net income / (loss) available to common stockholders $ (3,598 ) $ 909 Weighted average number of common shares, basic and diluted 8,332,033 10,613,424 Income / (loss) per common share, basic and diluted $ (0.43 ) $ 0.09 As of June 30, 2021 and 2022, securities that could potentially dilute basic income/loss per share in the future that were not included in the computation of diluted loss per share, because to do so would have anti-dilutive effect, were any incremental shares of the unexercised warrants, calculated with the treasury stock method, as well as shares assumed to be converted with respect to the Series A Preferred Shares calculated with the if-converted method. As of June 30, 2021, we had 183,475 2,035,111 819,085 2,035,111 454,356 2,035,111 2,027,805 2,035,111 PYXIS TANKERS INC. Notes to the Unaudited Interim Condensed Consolidated Financial Statements (Expressed in thousands of U.S. Dollars, except for share and per share data) 9. Income / Loss per common share: - Continued: Following the annual meeting of shareholders (“AMS”), the Board approved the filing of an amendment to affect a Reverse Stock Split in the ratio of one for four outstanding common shares, to take effect on May 13, 2022. Beginning on such date, the Company’s common shares traded on a split-adjusted basis on the Nasdaq Capital Markets with a new assigned CUSIP number of Y71726130. After the reverse stock split, every four of the Company’s issued and outstanding common shares combined into one issued and outstanding common share, without any change to the par value of $ 0.001 42,455,857 10,613,424

Risk Management and Fair Value

Risk Management and Fair Value Measurements:	6 Months Ended
	Jun. 30, 2022
Risk Management And Fair Value Measurements
Risk Management and Fair Value Measurements:	10. Risk Management and Fair Value Measurements: The principal financial assets of the Company consist of cash and cash equivalents, trade accounts receivable due from charterers and amounts due from related parties. The principal financial liabilities of the Company consist of long-term bank loans, trade accounts payable and a Promissory Note. Interest rate risk 10.0 3.5 July 18, 2022 9.6 2 July 8, 2025 Credit risk Currency risk Fair value: Schedule of Fair Value of Assets and Liabilities Carrying Fair Value Value Cash and cash equivalents (including restricted cash) $ 6,241 $ 6,241 Trade accounts receivable $ 5,265 $ 5,265 Trade accounts payable $ 5,590 $ 5,590 Long-term debt with variable interest rates, net $ 68,850 $ 68,850 Promissory note with non-variable interest rate* * $ 6,000 $ 5,971 Due to related parties $ 5,659 $ 5,659 * As at June 30, 2022, the carrying value and the theoretical fair value of the promissory note was $ 6,000 5,971 The Company performs an impairment exercise whenever there are indicators of impairment. No Assets measured at fair value on a recurring basis: Interest rate cap The Company’s interest rate cap does not qualify for hedge accounting. The Company adjusts its interest rate cap contract to fair market value at the end of every period and records the resulting gain or loss during the period in the Consolidated Statements of Comprehensive Income / (Loss). Information on the classification, the derivative fair value and the gain from financial derivative instruments included in the Consolidated Financial Statements is shown below: Schedule of Financial Derivative Instrument Location December 31, June 30, Consolidated Balance Sheets – Location 2021 2022 Financial derivative instrument – Other non-current assets $ 74 $ 394 Schedule of Gains Losses on Derivative Instruments 2021 2022 Consolidated Statements of Comprehensive Income / (Loss) – Location Six months ended June 30, 2021 2022 Financial derivative instrument – Fair value at the beginning of the period $ — $ 74 Financial derivative instrument – Additions of the period — — Financial derivative instrument – Fair value as at period end — 394 Gain from financial derivative instrument $ — $ 320 PYXIS TANKERS INC. Notes to the Unaudited Interim Condensed Consolidated Financial Statements (Expressed in thousands of U.S. Dollars, except for share and per share data) 10. Risk Management and Fair Value Measurements: - Continued: Assets measured at fair value on a recurring basis: Interest rate cap The fair value of the Company’s interest rate cap agreement is determined based on market-based LIBOR rates. LIBOR rates are observable at commonly quoted intervals for the full term of the cap and therefore, are considered Level 2 items in accordance with the fair value hierarchy. Assets measured at fair value on a non-recurring basis: Long lived assets held and used and held for sale As of December 31, 2021 and June 30, 2022, the Company reviewed the carrying amount in connection with the estimated recoverable amount for each of its vessels held and used. This review indicated that such carrying amount was fully recoverable for the Company’s vessels held and used. No As of December 31, 2021 and June 30, 2022, the Company did not have any other assets or liabilities measured at fair value on a non-recurring basis.

Commitments and Contingencies_

Commitments and Contingencies:	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies:	11. Commitments and Contingencies: Minimum contractual charter revenues: Future minimum contractual charter revenues, gross of 1.25% address commission and 1.25% brokerage commissions to Maritime and of any other brokerage commissions to third parties, based on the vessels’ committed, non-cancelable, long-term time charter contracts as of June 30, 2022, are $ 853 Other The Company accrues for the cost of environmental and other liabilities when management becomes aware that a liability is probable and is able to reasonably estimate the probable exposure. As of June 30, 2022 and as of the date of the issuance of the Consolidated Financial Statements, management is not aware of any other claims or contingent liabilities, which should be disclosed or for which a provision should be established in the accompanying Unaudited Interim Condensed Consolidated Financial Statements. The Company is covered for liabilities associated with the individual vessels’ actions to the maximum limits as provided by Protection and Indemnity (P&I) Clubs, members of the International Group of P&I Clubs. PYXIS TANKERS INC. Notes to the Unaudited Interim Condensed Consolidated Financial Statements (Expressed in thousands of U.S. Dollars, except for share and per share data)

Interest and Finance Costs, net

Interest and Finance Costs, net:	6 Months Ended
	Jun. 30, 2022
Interest And Finance Costs Net
Interest and Finance Costs, net:	12. Interest and Finance Costs, net: The amounts in the accompanying unaudited interim Consolidated Statements of Comprehensive Income / (Loss) are analyzed as follows: Schedule of Interest and Finance Costs Six months ended June 30, 2021 2022 Interest on long-term debt $ 1,414 $ 1,463 Interest on promissory note 215 223 Amortization of financing costs 111 155 Financing fees and charges 10 (12 ) Total $ 1,750 $ 1,829

Revenues, net_

Revenues, net:	6 Months Ended
	Jun. 30, 2022
Revenue Recognition and Deferred Revenue [Abstract]
Revenues, net:	13. Revenues, net: The Company disaggregates its revenue from contracts with customers by the type of charter (time charters and spot charters). The following table presents the Company’s revenue disaggregated by revenue source for the three month periods ended June 30, 2021 and 2022: Schedule of Revenue Disaggregated by Revenue Source Six months ended June 30, 2021 2022 Revenues derived from spot charters, net $ 3,202 $ 17,194 Revenues derived from time charters, net 7,026 5,774 Revenues, net $ 10,228 $ 22,968 The Company does not disclose the value of unsatisfied performance obligations for contracts with an original expected length of one year or less, in accordance with the optional exception in ASC 606. The following table presents the Company’s net trade accounts receivable disaggregated by revenue source as December 31, 2021 and June 30, 2022: Schedule of Accounts Receivable Disaggregated Revenue December 31, June 30, 2021 2022 Accounts receivable trade from spot charters $ 1,762 $ 5,365 Accounts receivable trade from time charters — — Less: Bad debt provisions (26 ) (76 ) Less: Allowance for credit losses (20 ) (24 ) Total $ 1,716 $ 5,265

Subsequent Events_

Subsequent Events:	6 Months Ended
	Jun. 30, 2022
Subsequent Events [Abstract]
Subsequent Events:	14. Subsequent Events: Dividend payment: 0.1615 73 0.1615 73 August 22, 2022 August 15, 2022

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements In August 2020, the FASB issued ASU No. 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity. The ASU reduces the number of accounting models for convertible debt instruments by eliminating the cash conversion model. As compared with current U.S. GAAP, more convertible debt instruments will be reported as a single liability instrument and the interest rate of more convertible debt instruments will be closer to the coupon interest rate. The ASU also aligns the consistency of diluted Earnings Per Share (“EPS”) calculations for convertible instruments by requiring that (1) an entity use the if-converted method and (2) share settlement be included in the diluted EPS calculation for both convertible instruments and equity contracts when those contracts include an option of cash settlement or share settlement. The ASU is effective for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. The FASB has specified that an entity should adopt the guidance as of the beginning of its annual fiscal year. The Company adopted the standard within the period. The adoption of the standard did not have any effect on the Company’s Unaudited Interim Condensed Consolidated Financial Statements and related disclosures. PYXIS TANKERS INC. Notes to the Unaudited Interim Condensed Consolidated Financial Statements (Expressed in thousands of U.S. Dollars, except for share and per share data) 2. Significant Accounting Policies: – Continued: In May 2021, the FASB issued ASU No. 2021-04, Earnings Per Share (Topic 260), Debt—Modifications and Extinguishments (Subtopic 470-50), Compensation—Stock Compensation (Topic 718), and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options. The amendments in ASU No. 2021-04 provides guidance to clarify and reduce diversity in an issuer’s accounting for modifications or exchanges of freestanding equity-classified written call options (for example, warrants) that remain equity classified after modification or exchange. The amendments in this ASU No. 2021-04 are effective for all entities for fiscal years beginning after December 15, 2021, and interim periods within those fiscal years, with early adoption permitted, including interim periods within those fiscal years. The Company adopted the standard within the period. The adoption of the standard did not have any effect on the Company’s Unaudited Interim Condensed Consolidated Financial Statements and related disclosures. In July 2021, the FASB issued ASU No. 2021-05 Leases (Topic 842): Lessors-Certain Leases with Variable Lease Payments. The ASU amends the lessor lease classification guidance in ASC 842 for leases that include any amount of variable lease payments that are not based on an index or rate. If such a lease meets the criteria in ASC 842-10-25-2 through 25-3 for classification as either a sales-type or direct financing lease, and application of the sales-type or direct financing lease recognition guidance would result in recognition of a selling loss, then the amendments require the lessor to classify the lease as an operating lease. For public business entities that have adopted ASC 842 as of July 19, 2021, the amendments in ASU 2021-05 are effective for fiscal years beginning after December 15, 2021 and for interim periods within those fiscal years. The Company adopted the standard within the period. The adoption of the standard did not have any effect on the Company’s Unaudited Interim Condensed Consolidated Financial Statements and related disclosures.
Recent Accounting Pronouncements – Not Yet Adopted	Recent Accounting Pronouncements – Not Yet Adopted In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform. ASU 2020-04 applies to contracts that reference LIBOR or another reference rate expected to be terminated because of reference rate reform. In January 2021, the FASB issued ASU 2021-01, Reference Rate Reform (Topic 848). The amendments in this Update clarify that certain optional expedients and exceptions in Topic 848 for contract modifications and hedge accounting apply to derivative instruments that use an interest rate for margining, discounting, or contract price alignment that is modified as a result of reference rate reform. Amendments in this Update to the expedients and exceptions in Topic 848 capture the incremental consequences of the scope clarification and tailor the existing guidance to derivative instruments affected by the discounting transition. The amendments in this Update apply to all entities that elect to apply the optional guidance in Topic 848. ASU 2020-04 and ASU 2021-10 can be adopted as of March 12, 2020 through December 31, 2022. As of December 31, 2021, the Company has not yet elected any optional expedients provided in the standard. The Company will apply the accounting relief as relevant contract and hedge accounting relationship modifications are made during the reference rate reform transition period. The Company will continue to monitor and evaluate its contracts and the effects of this standard on its consolidated financial position, results of operations, and cash flows.

Basis of Presentation and Gen_2

Basis of Presentation and General Information (Tables)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Schedule of Ownership and Operation of Tanker Vessels	All of the Vessel-owning companies are engaged in the marine transportation of liquid cargoes through the ownership and operation of tanker vessels, as listed below: Schedule of Ownership and Operation of Tanker Vessels Vessel-owning Company Incorporation date Vessel Dead Weight tons “DWT” Year built Acquisition date Fourthone 05/30/2007 Pyxis Malou 50,667 2009 02/16/2009 Seventhone 05/31/2011 Pyxis Theta 51,795 2013 09/16/2013 Eighthone 02/08/2013 Pyxis Epsilon 50,295 2015 01/14/2015 Tenthone 04/22/2021 Pyxis Karteria 46,652 2013 07/15/2021 Eleventhone 11/09/2021 Pyxis Lamda 50,145 2017 12/20/2021
Summary of Revenue from Significant Charterers for 10% or More of Revenue	Revenues for the six month periods ended June 30, 2021 and 2022, deriving from significant charterers individually accounting for 10% or more of revenues (in percentages of total revenues), were as follows: Summary of Revenue from Significant Charterers for 10% or More of Revenue Charterer Six months ended June 30, 2021 2022 A 0 % 36 % B 0 % 23 % C 62 % 0 % Total 62 % 59 %
Schedule of Reconciliation of Cash and Cash Equivalents and Restricted Cash	The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the accompanying Consolidated Balance Sheets that are presented in the accompanying interim condensed consolidated statement of cash flows for the six month periods ended June 30, 2021 and 2022. Schedule of Reconciliation of Cash and Cash Equivalents and Restricted Cash June 30, June 30, 2021 2022 Cash and cash equivalents $ 10,199 $ 3,636 Restricted cash, current portion — 355 Restricted cash, net of current portion 2,450 2,250 Total cash and cash equivalents and restricted cash $ 12,649 $ 6,241

Transactions with Related Par_2

Transactions with Related Parties (Tables)	6 Months Ended
	Jun. 30, 2022
Related Party Transactions [Abstract]
Schedule of Amounts Charged by Maritime Included in the Accompanying Consolidated Statements of Comprehensive Loss	The following amounts were charged by Maritime pursuant to the head management and ship-management agreements with the Company, and are included in the accompanying unaudited interim Consolidated Statements of Comprehensive Income / (Loss): Schedule of Amounts Charged by Maritime Included in the Accompanying Consolidated Statements of Comprehensive Loss 2021 2022 Six months ended June 30, 2021 2022 Included in Voyage related costs and commissions Charter hire commissions $ 129 $ 289 Included in Management fees, related parties Ship-management Fees 300 394 Included in General and administrative expenses Administration Fees 809 819 Total $ 1,238 $ 1,502

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2022
Inventory Disclosure [Abstract]
Schedule of Inventories	The amounts in the accompanying Consolidated Balance Sheets are analyzed as follows: Schedule of Inventories December 31, June 30, 2021 2022 Lubricants $ 552 $ 546 Bunkers 1,015 2,920 Total $ 1,567 $ 3,466

Vessels, net (Tables)

Vessels, net (Tables)	6 Months Ended
	Jun. 30, 2022
Property, Plant and Equipment [Abstract]
Schedule of Vessels	The amounts in the accompanying Consolidated Balance Sheets are analyzed as follows: Schedule of Vessels Vessel Accumulated Net Book Cost Depreciation Value Balance January 1, 2022 $ 148,175 $ (28,451 ) $ 119,724 Vessel additions — — — BWTS installation 555 — 555 Depreciation — (3,024 ) (3,024 ) Balance June 30, 2022 $ 148,730 $ (31,475 ) $ 117,255

Deferred dry dock and special_2

Deferred dry dock and special survey costs, net (Tables)	6 Months Ended
	Jun. 30, 2022
Deferred Dry Dock And Special Survey Costs Net
Schedule of Deferred Charges	The movement in deferred charges, net, in the accompanying Consolidated Balance Sheets are as follows: Schedule of Deferred Charges Dry docking costs Balance January 1, 2022 $ 912 Additions 192 Amortization of special survey costs (175 ) Balance June 30, 2022 $ 929 On January 14, 2022 “Pyxis Lamda” 438 185 7 “Pyxis Malou”

Long-term Debt (Tables)

Long-term Debt (Tables)	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	The amounts shown in the accompanying Consolidated Balance Sheets at December 31, 2021 and June 30, 2022, are analyzed as follows: Schedule of Long-Term Debt December 31, June 30, Vessel (Borrower) 2021 2022 (a) “Northsea Alpha” (Secondone) $ 2,890 $ — (a) “Northsea Beta” (Thirdone) 2,890 — (b) “Pyxis Malou” (Fourthone) 7,320 6,968 (c) “Pyxis Theta” (Seventhone) 13,750 13,150 (d) “Pyxis Epsilon” (Eighthone) 16,100 15,500 (e) “Pyxis Karteria” (Tenthone) 13,150 12,450 (b) “Pyxis Lamda” (Eleventhone) 21,680 20,782 Total $ 77,780 $ 68,850 Current portion $ 12,030 $ 6,150 Less: Current portion of deferred financing costs (335 ) (283 ) Current portion of long-term debt, net of deferred financing costs, current $ 11,695 $ 5,867 Long-term portion $ 65,750 $ 62,700 Less: Non-current portion of deferred financing costs (870 ) (733 ) Long-term debt, net of current portion and deferred financing costs, non-current $ 64,880 $ 61,967
Schedule of Principal Payments	The annual principal payments required to be made after June 30, 2022, are as follows: Schedule of Principal Payments To June 30, Amount 2023 $ 6,150 2024 6,100 2025 6,100 2026 and thereafter 50,500 Total $ 68,850

Income _ Loss per Common Share

Income / Loss per Common Share (Tables)	6 Months Ended
	Jun. 30, 2022
Income Loss Per Common Share
Schedule of Loss Per Common Share	Schedule of Loss Per Common Share 2021 2022 Six months ended June 30, 2021 2022 Net income / (loss) available to common stockholders $ (3,598 ) $ 909 Weighted average number of common shares, basic and diluted 8,332,033 10,613,424 Income / (loss) per common share, basic and diluted $ (0.43 ) $ 0.09

Risk Management and Fair Valu_2

Risk Management and Fair Value Measurements: (Tables)	6 Months Ended
	Jun. 30, 2022
Risk Management And Fair Value Measurements
Schedule of Fair Value of Assets and Liabilities	Fair value: Schedule of Fair Value of Assets and Liabilities Carrying Fair Value Value Cash and cash equivalents (including restricted cash) $ 6,241 $ 6,241 Trade accounts receivable $ 5,265 $ 5,265 Trade accounts payable $ 5,590 $ 5,590 Long-term debt with variable interest rates, net $ 68,850 $ 68,850 Promissory note with non-variable interest rate* * $ 6,000 $ 5,971 Due to related parties $ 5,659 $ 5,659 * As at June 30, 2022, the carrying value and the theoretical fair value of the promissory note was $ 6,000 5,971
Schedule of Financial Derivative Instrument Location	Schedule of Financial Derivative Instrument Location December 31, June 30, Consolidated Balance Sheets – Location 2021 2022 Financial derivative instrument – Other non-current assets $ 74 $ 394
Schedule of Gains Losses on Derivative Instruments	Schedule of Gains Losses on Derivative Instruments 2021 2022 Consolidated Statements of Comprehensive Income / (Loss) – Location Six months ended June 30, 2021 2022 Financial derivative instrument – Fair value at the beginning of the period $ — $ 74 Financial derivative instrument – Additions of the period — — Financial derivative instrument – Fair value as at period end — 394 Gain from financial derivative instrument $ — $ 320

Interest and Finance Costs, n_2

Interest and Finance Costs, net: (Tables)	6 Months Ended
	Jun. 30, 2022
Interest And Finance Costs Net
Schedule of Interest and Finance Costs	The amounts in the accompanying unaudited interim Consolidated Statements of Comprehensive Income / (Loss) are analyzed as follows: Schedule of Interest and Finance Costs Six months ended June 30, 2021 2022 Interest on long-term debt $ 1,414 $ 1,463 Interest on promissory note 215 223 Amortization of financing costs 111 155 Financing fees and charges 10 (12 ) Total $ 1,750 $ 1,829

Revenues, net_ (Tables)

Revenues, net: (Tables)	6 Months Ended
	Jun. 30, 2022
Revenue Recognition and Deferred Revenue [Abstract]
Schedule of Revenue Disaggregated by Revenue Source	Schedule of Revenue Disaggregated by Revenue Source Six months ended June 30, 2021 2022 Revenues derived from spot charters, net $ 3,202 $ 17,194 Revenues derived from time charters, net 7,026 5,774 Revenues, net $ 10,228 $ 22,968
Schedule of Accounts Receivable Disaggregated Revenue	The following table presents the Company’s net trade accounts receivable disaggregated by revenue source as December 31, 2021 and June 30, 2022: Schedule of Accounts Receivable Disaggregated Revenue December 31, June 30, 2021 2022 Accounts receivable trade from spot charters $ 1,762 $ 5,365 Accounts receivable trade from time charters — — Less: Bad debt provisions (26 ) (76 ) Less: Allowance for credit losses (20 ) (24 ) Total $ 1,716 $ 5,265

Schedule of Ownership and Opera

Schedule of Ownership and Operation of Tanker Vessels (Details) - Vessels [Member] Integer in Thousands	6 Months Ended
	Jun. 30, 2022 Integer
Fourthone Corporation Ltd [Member]
Property, Plant and Equipment [Line Items]
Entity incorporation date of incorporation	May 30, 2007
Vessel	Pyxis Malou
DWT	50,667
Year built	2009
Acquisition date	Feb. 16, 2009
Seventhone Corp [Member]
Property, Plant and Equipment [Line Items]
Entity incorporation date of incorporation	May 31, 2011
Vessel	Pyxis Theta
DWT	51,795
Year built	2013
Acquisition date	Sep. 16, 2013
Eighthone Corp [Member]
Property, Plant and Equipment [Line Items]
Entity incorporation date of incorporation	Feb. 08, 2013
Vessel	Pyxis Epsilon
DWT	50,295
Year built	2015
Acquisition date	Jan. 14, 2015
Tenthone Corp [Member]
Property, Plant and Equipment [Line Items]
Entity incorporation date of incorporation	Apr. 22, 2021
Vessel	Pyxis Karteria
DWT	46,652
Year built	2013
Acquisition date	Jul. 15, 2021
Eleventhone Corp [Member]
Property, Plant and Equipment [Line Items]
Entity incorporation date of incorporation	Nov. 09, 2021
Vessel	Pyxis Lamda
DWT	50,145
Year built	2017
Acquisition date	Dec. 20, 2021

Summary of Revenue from Signifi

Summary of Revenue from Significant Charterers for 10% or More of Revenue (Details) - Revenue Benchmark [Member] - Customer Concentration Risk [Member]	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Charterer A [Member]
Product Information [Line Items]
Total	36%	0%
Charterer B [Member]
Product Information [Line Items]
Total	23%	0%
Charterer C [Member]
Product Information [Line Items]
Total	0%	62%
Charterers [Member]
Product Information [Line Items]
Total	59%	62%

Schedule of Reconciliation of C

Schedule of Reconciliation of Cash and Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2021
Accounting Policies [Abstract]
Cash and cash equivalents	$ 3,636	$ 6,180	$ 10,199
Restricted cash, current portion	355
Restricted cash, net of current portion	2,250		2,450
Total cash and cash equivalents and restricted cash	$ 6,241		$ 12,649

Basis of Presentation and Gen_3

Basis of Presentation and General Information (Details Narrative) $ in Thousands	Jun. 30, 2022 USD ($) Integer
Working capital deficit | $	$ 3,087
Mr Valentis [Member]
Percentage of beneficially owned common stock	54%
Vessel Ownership [Member]
Number of vessel ownership interest entities | Integer	5
Vessels [Member]
Entity ownership interest	100%
Non Vessels [Member]
Entity ownership interest	100%

Schedule of Amounts Charged by

Schedule of Amounts Charged by Maritime Included in the Accompanying Consolidated Statements of Comprehensive Loss (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Related Party Transactions [Abstract]
Charter hire commissions	$ 289	$ 129
Ship-management Fees	394	300
Administration Fees	819	809
Total	$ 1,502	$ 1,238

Transactions with Related Par_3

Transactions with Related Parties (Details Narrative) - USD ($)					6 Months Ended		12 Months Ended
	Dec. 20, 2021	Nov. 15, 2021	Jun. 17, 2021	May 14, 2019	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021	Jul. 17, 2021	Jun. 16, 2021
Related Party Transaction [Line Items]
Due to related parties					$ 5,659,000		$ 3,967,000
Due to related parties					5,659,000		6,962,000
Interest on debt					223	$ 215
Promissory Note [Member]
Related Party Transaction [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			7.50%
Debt Instrument, Face Amount	$ 6,000,000		$ 3,000,000					$ 1,000,000
Accrued interest								433,000
Fair value of shares issued for debt conversion			$ 1,000,000
Debt Instrument, Convertible, Conversion Price									$ 0.9165
Debt Instrument, Maturity Date	Apr. 01, 2024
Amount payable in cash								$ 1,000,000
Promissory notes outstanding amount					$ 6,000,000		6,000,000
Promissory Note [Member] | Restricted Stock Units (RSUs) [Member]
Related Party Transaction [Line Items]
Number of shares issued for debt conversion			1,091,062
Maritime Investors Promissory Note [Member]
Related Party Transaction [Line Items]
Debt Instrument, Maturity Date, Description				the Company entered into a second amendment to the Amended & Restated Promissory Note which (i) extended the repayment of the outstanding principal, in whole or in part, until the earlier of a) one year after the repayment of the credit facility of Eighthone with Entrust Permal (the “Credit Facility”) on September 2023 (see Note 7), b) January 15, 2024 and c) repayment of any payment-in-kind (“PIK”) interest and principal deficiency amount under the Credit Facility, and (ii) increased the interest rate to 9.0% per annum of which 4.5% was to be paid in cash and 4.5% was to be paid in common shares of the Company calculated on the volume weighted average closing share price for the 10 day period immediately prior to each quarter end. The new interest rate was effective from April 1, 2019. After the repayment restrictions have been lifted per the Credit Facility, the Company, at its option, could continue to pay interest on the Amended & Restated Promissory Note in the afore-mentioned combination of cash and shares or pay all interest costs in cash.
Debt Instrument, Interest Rate, Stated Percentage				9%
Interest rate paid in cash				4.50%
Interest rate paid in restricted shares				4.50%
SPP Shipbuilding Co. Ltd [Member] | Memorandum Of Agreement [Member]
Related Party Transaction [Line Items]
Senior loan facility maturities		7 years
Pyxis Maritime Corporation [Member]
Related Party Transaction [Line Items]
Ship management services per day per vessel					$ 0.325
Charter hire agreement commission rate					1.25%
Administration fees payable to related party					$ 1,600,000
Head management agreement, terms and manner of settlement					In the event of a change of control of the Company during the management period or within 12 months after the early termination of the Head Management Agreement, then the Company will pay to Maritime an amount equal to 2.5 times the then annual Administration Fees. Pursuant to the amendment of this agreement on March 18, 2020, in the event of such change of control and termination, the Company shall also pay to Maritime an amount equal to 12 months of the then daily Ship-management Fees.
Ship-management and administration fees percentage increase					Effective January 1, 2019 and 2020, the Ship-management Fees and the Administration Fees were increased by 0.62%, and, 0.26% respectively, in line with the average inflation rate of Greece for 2018 and 2019. For 2020, the average rate in Greece was a deflation of 1.24% and, as a result, no adjustment was made to the Ship-management Fees and the Administration Fees effective January 1, 2021, which remained, for the particular calendar year, as per the previous year. Effective January 1, 2022, the Ship-management Fees and the Administration Fees were increased by 1.23% in line with the average inflation rate of Greece for 2021.
Pyxis Maritime Corporation [Member] | While Vessel is Under Construction [Member]
Related Party Transaction [Line Items]
Ship management services per day per vessel					$ 0.450
SPP Shipbuilding Co. Ltd [Member] | Memorandum Of Agreement [Member]
Related Party Transaction [Line Items]
Fair value of shares issued for debt conversion							$ 2,170,000
Number of shares issued for debt conversion							4,139,003
Amount payable in cash							$ 1,325
Payment of construction		$ 32,000,000
Fair value of acquistion		31,172,000
Senior loan facility		21,680,000
Cash on hand							4,320,000
Due to related parties							$ 2,995
SPP Shipbuilding Co. Ltd [Member] | Memorandum Of Agreement [Member] | Secured Debt [Member]
Related Party Transaction [Line Items]
Fair value senior loan facility		$ 3,000,000

Schedule of Inventories (Detail

Schedule of Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Inventory [Line Items]
Inventories	$ 3,466	$ 1,567
Lubricants [Member]
Inventory [Line Items]
Inventories	546	552
Bunkers [Member]
Inventory [Line Items]
Inventories	$ 2,920	$ 1,015

Schedule of Vessels (Details)

Schedule of Vessels (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Property, Plant and Equipment [Line Items]
Net book value beginning balance	$ 119,724
Vessel additions	555
Depreciation	(3,024)	$ (2,194)
Vessel cost, ending balance	117,255
Vessel Cost [Member]
Property, Plant and Equipment [Line Items]
Vessel cost, beginning balance	148,175
Vessel additions
BWTS installation	555
Depreciation
Vessel cost, ending balance	148,730
Accumulated Depreciation [Member]
Property, Plant and Equipment [Line Items]
Accumulated depreciation, beginning balance	(28,451)
Vessel additions
BWTS installation
Depreciation	(3,024)
Vessel cost, ending balance	(31,475)
Net Book Value [Member]
Property, Plant and Equipment [Line Items]
Net book value beginning balance	119,724
Vessel additions
BWTS installation	555
Depreciation	(3,024)
Vessel cost, ending balance	$ 117,255

Vessels, net (Details Narrative

Vessels, net (Details Narrative) - USD ($)		1 Months Ended	3 Months Ended	6 Months Ended	12 Months Ended
	Dec. 23, 2021	May 31, 2022	Mar. 31, 2022	Jun. 30, 2022	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Assets held for sale					$ 8,509,000
Loss on vessel held-for-sale					$ 2,389,000
Aggregate sale price for the vessels	$ 8,900,000
Prepayment for loan facility	$ 5,780,000
Property, Plant and Equipment, Additions				555,000
Payment for installation			$ 437,000
Accrued and remains unpaid amount of ballast water treatment system installation		$ 118,000
Impairment charges				$ 0

Schedule of Deferred Charges (D

Schedule of Deferred Charges (Details) - USD ($) $ in Thousands		6 Months Ended
	Jan. 14, 2022	Jun. 30, 2022	Jun. 30, 2021
Deferred Dry Dock And Special Survey Costs Net
Balance January 1, 2022	$ 912	$ 912
Additions	$ 7	192
Amortization of special survey costs		(175)	$ (203)
Balance June 30, 2022		$ 929

Deferred dry dock and special_3

Deferred dry dock and special survey costs, net (Details Narrative) - USD ($) $ in Thousands		6 Months Ended
	Jan. 14, 2022	Jun. 30, 2022	Dec. 31, 2021	Jan. 14, 2021
Deferred Dry Dock And Special Survey Costs Net
Balance January 1, 2022		$ 929	$ 912	$ 438
Amortization of special survey costs	$ 185
Additions	$ 7	$ 192

Schedule of Long-Term Debt (Det

Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Total	$ 68,850	$ 77,780
Current portion	6,150	12,030
Less: Current portion of deferred financing costs	(283)	(335)
Current portion of long-term debt, net of deferred financing costs, current	5,867	11,695
Long-term portion	62,700	65,750
Less: Non-current portion of deferred financing costs	(733)	(870)
Long-term debt, net of current portion and deferred financing costs, non-current	61,967	64,880
Northsea Alpha Vessel [Member] | Secondone Corporation Ltd [Member]
Property, Plant and Equipment [Line Items]
Total		2,890
Northsea Beta Vessel [Member] | Thirdone Corporation Ltd [Member]
Property, Plant and Equipment [Line Items]
Total		2,890
Pyxis Malou Vessel [Member] | Fourthone Corporation Ltd [Member]
Property, Plant and Equipment [Line Items]
Total	6,968	7,320
Pyxis Theta Vessel [Member] | Seventhone Corp [Member]
Property, Plant and Equipment [Line Items]
Total	13,150	13,750
Pyxis Epsilon Vessel [Member] | Eighthone Corp [Member]
Property, Plant and Equipment [Line Items]
Total	15,500	16,100
Pyxis Karteria Vessel [Member] | Tenthone Corp [Member]
Property, Plant and Equipment [Line Items]
Total	12,450	13,150
Pyxis Lamda Vessel [Member] | Eleventhone Corp [Member]
Property, Plant and Equipment [Line Items]
Total	$ 20,782	$ 21,680

Schedule of Principal Payments

Schedule of Principal Payments (Details) $ in Thousands	Jun. 30, 2022 USD ($)
Debt Disclosure [Abstract]
2023	$ 6,150
2024	6,100
2025	6,100
2026 and thereafter	50,500
Total	$ 68,850

Long-term Debt (Details Narrati

Long-term Debt (Details Narrative) - USD ($) $ in Thousands				6 Months Ended		12 Months Ended
	Dec. 20, 2021	Jul. 09, 2021	Jul. 08, 2020	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Debt Instrument [Line Items]
Assets held for sale						$ 8,509
Debt outstanding balance				68,850		77,780
Repayments of long term debt				8,930	$ 25,990
Total long-term debt outstanding				$ 68,850
Long-term debt, weighted average interest rate, at point in time				4.30%	5.93%
Long Term Debt and Promissory Note [Member]
Debt Instrument [Line Items]
Interest expense on long-term debt and promissory note				$ 1,686	$ 1,629
London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Interest rate margin	3.15%
Fourth one [Member]
Debt Instrument [Line Items]
Down payment	$ 7,320
Debt outstanding balance	7,320
Repayments of long term debt	$ 6,968
Northsea Alpha and Northsea Beta [Member]
Debt Instrument [Line Items]
Assets held for sale						5,780
Pyxis Malou Vessel [Member] | Fourth one [Member]
Debt Instrument [Line Items]
Long term debt balloon payment year	2026-12
Debt quarterly installments	$ 176
Long term debt balloon payment	$ 3,800
Pyxis Lamda Vessel [Member] | Eleventh one [Member]
Debt Instrument [Line Items]
Long term debt balloon payment year	2026-12
Down payment	$ 21,680
Repayments of long term debt	20,782
Debt quarterly installments	449
Long term debt balloon payment	$ 12,700
Pyxis Epsilon Vessel [Member] | Eighth one [Member]
Debt Instrument [Line Items]
Total long-term debt				15,500
Pyxis Epsilon Vessel [Member] | Tenth one [Member]
Debt Instrument [Line Items]
Total long-term debt				12,450
New Secured Loan - Secondone, and Thirdone [Member]
Debt Instrument [Line Items]
[custom:DebtInstrumentCarryingAmountPerFacility-0]						2,890
[custom:QuarterlyInstallmentsPayableInAggregatePerFacility]						$ 500
Long-term debt first periodic payment						2022-02
Long-term debt balloon payment, per facility						$ 2,390
Long term debt balloon payment year						2023-02
Secured Loan Fourthone Corp [Member]
Debt Instrument [Line Items]
Minimum cash deposits.				1,500
Reduced minimum cash deposits				1,000
Maximum required leverage ratio						75%
Debt to market value of adjusted assets ratio actual						49.20%
Ratio difference by which actual exceeds required debt to assets ratio threshold						25.80%
Minimum security collateral cover required						125%
Secured Loan Fourthone Corp [Member] | Pyxis Malou [Member]
Debt Instrument [Line Items]
Reduced minimum cash deposits				500
Secured Loan Fourthone Corp [Member] | Pyxis Lamda [Member]
Debt Instrument [Line Items]
Reduced minimum cash deposits				500
Secured Loan - Seventhone Corp. [Member]
Debt Instrument [Line Items]
Long term debt balloon payment			$ 9,250
Minimum cash deposits.				$ 500
Maximum required leverage ratio				75%
Debt to market value of adjusted assets ratio actual				49.20%
Ratio difference by which actual exceeds required debt to assets ratio threshold				25.80%
Minimum security collateral cover required				125%
Total long-term debt			15,250
Total long-term debt outstanding				$ 13,150
Quarterly installments payable (15 installments)			$ 300
Maturity date			July 2025
Previous Secured Loan - Seventhone Corp [Member]
Debt Instrument [Line Items]
Total long-term debt			$ 11,293
Secured Loan Eighth one Corp [Member]
Debt Instrument [Line Items]
Long term debt balloon payment				$ 11,000
Interest rate margin				3.35%
Maturity date				March 2026
Vessel acquisition date				$ 300
Secured Loan Eightth one Corp [Member]
Debt Instrument [Line Items]
Minimum cash deposits.				500
Secured Loan Tenthone Corp [Member]
Debt Instrument [Line Items]
Down payment		$ 13,500
Minimum cash deposits.				$ 250
Maximum required leverage ratio				120%
Loan amount		$ 13,500
Secured Loan Tenthone Corp [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Interest rate margin				4.80%
New Secured Loan Tenthone [Member]
Debt Instrument [Line Items]
Long-term debt balloon payment, per facility				$ 4,900
Maturity date				July 2028
Quarterly installments payable (3 installments)				$ 350
New Secured Loan - Fourthone [Member]
Debt Instrument [Line Items]
Quarterly installments payable (24 installments)				$ 300

Equity Capital Structure and _2

Equity Capital Structure and Equity Incentive Plan (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021	Aug. 23, 2021
Common stock, shares authorized	450,000,000	450,000,000
Preferred Stock, Shares Authorized	50,000,000	50,000,000
Common stock shares outstanding	10,613,424	10,613,424
Preferred stock par value	$ 0.001	$ 0.001
Warrant outstanding	1,590,540
Warrants issued to purchase of securities	16,000
Warrant exercise price per shares			$ 2.1875
Warrant exercise price increase	$ 5.60
Number of non-tradable warrant to purchase shares of common stock			428,571
Mr Valentis [Member]
Non controling ownership percentage	54%		125%
Over-Allotment Option [Member]
Warrant outstanding	4,683
Warrants issued to purchase of securities	16,000
Common Stock [Member]
Common stock shares outstanding	10,613,424	42,455,857
Series A Convertible Preferred Shares [Member]
Preferred Stock, Shares Authorized	1,000,000	1,000,000
Preferred stock shares outstanding	449,673	449,673
Preferred stock par value		$ 0.001
Preferred stock, shares issued	449,673	449,673
Series A Convertible Preferred Shares and Detachable Warrants [Member]
Warrants issued to purchase of securities	4,683
Warrant exercise price per shares	$ 24.97
Warrant exercise price increase	1.40
Cash dividend per share	$ 0.1615
Dividend payable	$ 436
Preferred stock, shares issued	5,731,942

Schedule of Loss Per Common Sha

Schedule of Loss Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Income Loss Per Common Share
Net income / (loss) available to common stockholders	$ 909	$ (3,598)
Weighted average number of common shares, basic and diluted	10,613,424	8,332,033
Income / (loss) per common share, basic and diluted	$ 0.09	$ (0.43)

Income _ Loss per Common Shar_2

Income / Loss per Common Share (Details Narrative) - $ / shares	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Common stock par value	$ 0.001		$ 0.001
Common stock shares outstanding	10,613,424		10,613,424
Minimum [Member]
Conversion of common shares	2,027,805	819,085
Maximum [Member]
Conversion of common shares	2,035,111	2,035,111
Common stock par value	$ 0.001
Warrant [Member]
Preferred stock shares	2,035,111	2,035,111
Common Stock [Member]
Common stock shares outstanding	10,613,424		42,455,857
Common Stock [Member] | Minimum [Member]
Common stock shares outstanding	10,613,424
Common Stock [Member] | Maximum [Member]
Common stock shares outstanding	42,455,857
Series A Preferred Stock [Member]
Preferred stock shares	454,356	183,475

Schedule of Fair Value of Asset

Schedule of Fair Value of Assets and Liabilities (Details) - USD ($) $ in Thousands		Jun. 30, 2022	Dec. 31, 2021
Trade accounts receivable		$ 5,265	$ 1,716
Trade accounts payable		5,590	$ 3,084
Carrying Value [Member]
Cash and cash equivalents (including restricted cash)		6,241
Trade accounts receivable		5,265
Trade accounts payable		5,590
Long-term debt with variable interest rates, net		68,850
Promissory note with non-variable interest rate*	[1]	6,000
Due to related parties		5,659
Fair Value [Member]
Cash and cash equivalents (including restricted cash)		6,241
Trade accounts receivable		5,265
Trade accounts payable		5,590
Long-term debt with variable interest rates, net		68,850
Promissory note with non-variable interest rate*	[1]	5,971
Due to related parties		$ 5,659
[1]As at June 30, 2022, the carrying value and the theoretical fair value of the promissory note was $ 6,000 5,971

Schedule of Fair Value of Ass_2

Schedule of Fair Value of Assets and Liabilities (Details) (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Short-Term Debt [Line Items]
Long-Term Debt, Gross	$ 68,850	$ 77,780
Promissory Note [Member]
Short-Term Debt [Line Items]
Long-Term Debt, Gross	6,000
Long-Term Debt, Fair Value	$ 5,971

Schedule of Financial Derivativ

Schedule of Financial Derivative Instrument Location (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Risk Management And Fair Value Measurements
Financial derivative instrument – Other non-current assets	$ 394	$ 74

Schedule of Gains Losses on Der

Schedule of Gains Losses on Derivative Instruments (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Risk Management And Fair Value Measurements
Financial derivative instrument – Fair value at the beginning of the period	$ 74
Financial derivative instrument – Additions of the period
Financial derivative instrument – Fair value as at period end	394
Gain from financial derivative instrument	$ 320

Risk Management and Fair Valu_3

Risk Management and Fair Value Measurements: (Details Narrative) - USD ($)			6 Months Ended
	Jul. 16, 2021	Jan. 19, 2018	Jun. 30, 2022	Jun. 30, 2021
Debt Instrument [Line Items]
Impairment, Long-Lived Asset, Held-for-Use			$ 0	$ 0
London Interbank Offered Rate (LIBOR) [Member] | Vessel Owing Company [Member]
Debt Instrument [Line Items]
Derivative, Notional Amount	$ 9,600,000	$ 10,000,000
Derivative, Cap Interest Rate	2%	3.50%
Derivative, Maturity Date	Jul. 08, 2025	Jul. 18, 2022

Commitments and Contingencies_

Commitments and Contingencies: (Details Narrative)	Jun. 30, 2022 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Long-term time charter contracts	$ 853

Schedule of Interest and Financ

Schedule of Interest and Finance Costs (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Interest And Finance Costs Net
Interest on long-term debt	$ 1,463	$ 1,414
Interest on promissory note	223	215
Amortization of financing costs	155	111
Financing fees and charges	(12)	10
Total	$ 1,829	$ 1,750

Schedule of Revenue Disaggregat

Schedule of Revenue Disaggregated by Revenue Source (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Revenues, net	$ 22,968	$ 10,228
Revenues Derived From Spot Charters [Member]
Revenues, net	17,194	3,202
Revenues Derived From Time Charters [Member]
Revenues, net	$ 5,774	$ 7,026

Schedule of Accounts Receivable

Schedule of Accounts Receivable Disaggregated Revenue (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Accounts receivable trade from spot charters	$ 5,365	$ 1,762
Accounts receivable trade from time charters
Less: Bad debt provisions	(76)	(26)
Total	5,265	1,716
Revenues Derived From Spot Charters [Member]
Less: Allowance for credit losses	$ (24)	$ (20)

Subsequent Events_ (Details Nar

Subsequent Events: (Details Narrative) - USD ($)		1 Months Ended	6 Months Ended
	Aug. 02, 2022	Jul. 31, 2022	Jun. 30, 2022	Jun. 30, 2021
Subsequent Event [Line Items]
Convertible preferred stock dividends paid			$ 436,000	$ 151,000
Subsequent Event [Member] | Series A Preferred Stock [Member] | Dividend Paid [Member]
Subsequent Event [Line Items]
Cash dividends per share		$ 0.1615
Convertible preferred stock dividends paid		$ 73
Subsequent Event [Member] | Series A Preferred Stock [Member] | Dividend Declared [Member]
Subsequent Event [Line Items]
Cash dividends per share	$ 0.1615
Convertible preferred stock dividends paid	$ 73
Dividend payable date	Aug. 22, 2022
Dividend record of date	Aug. 15, 2022