$RBNE
Robin Energy Ltd.
CIK:0002039060|SEC Filings
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) |
12 Months Ended | ||||
|---|---|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|||
| Cash Flows (used in)/provided by Operating Activities: | |||||
| Net income/(loss) | [1] | $ (45,142) | $ 1,051,403 | $ 15,425,465 | |
| Adjustments to reconcile net income/(loss) to net cash (used in)/provided by operating activities: | |||||
| Depreciation and amortization | 2,126,451 | 1,168,558 | 1,490,577 | ||
| Gain on sale of vessel | 0 | 0 | (8,226,258) | ||
| Change in fair value of crypto assets-Bitcoin | 1,148,600 | 0 | 0 | ||
| Changes in operating assets and liabilities: | |||||
| Accounts receivable trade | (204,382) | 434,536 | (173,545) | ||
| Inventories | (101,770) | (28,764) | 154,488 | ||
| Due from related parties | 5,648,585 | 5,943,722 | (14,497,622) | ||
| Prepaid expenses and other assets | (316,410) | 16,299 | 406,645 | ||
| Accounts payable | 259,876 | (459,747) | 110,244 | ||
| Accrued liabilities | 987,934 | 189,476 | 55,644 | ||
| Deferred revenue | 698,000 | 0 | 0 | ||
| Dry-dock costs paid | (31,451) | (1,421,195) | (1,088,386) | ||
| Net Cash (used in)/provided by Operating Activities | 10,170,291 | 6,894,288 | (6,342,748) | ||
| Cash flow (used in)/provided by Investing Activities: | |||||
| Vessel acquisitions and capitalized vessel improvements | (38,090,000) | (71,786) | (766,887) | ||
| Net proceeds from sale of vessel | 0 | 0 | 17,204,802 | ||
| Purchase of crypto assets-Bitcoin | (5,000,000) | 0 | 0 | ||
| Net cash provided by/(used in) Investing Activities | (43,090,000) | (71,786) | 16,437,915 | ||
| Cash flows (used in)/provided by Financing Activities: | |||||
| Net (decrease)/increase in Former Parent Company Investment | 329,618 | (6,822,484) | (14,895,715) | ||
| Payment for repurchase of common shares | (130,548) | 0 | 0 | ||
| Gross proceeds from issuance of common shares pursuant to registered equity offerings | 32,773,860 | 0 | 0 | ||
| Common share issuance expenses pursuant to registered direct offerings | (3,722,958) | 0 | 0 | ||
| Payment of Dividend on Series A Preferred Shares | (251,389) | 0 | 0 | ||
| Capital contribution from Former Parent Company due to spin off | 10,356,450 | 0 | 0 | ||
| Payments related to Spin-Off from Toro | (786,001) | 0 | 0 | ||
| Net cash (used in)/provided by Financing Activities | 38,569,032 | (6,822,484) | (14,895,715) | ||
| Net (decrease)/increase in cash and cash equivalents | 5,649,323 | 18 | (4,800,548) | ||
| Cash and cash equivalents at the beginning of the period | 369 | 351 | 4,800,899 | ||
| Cash and cash equivalents at the end of the period | 5,649,692 | 369 | 351 | ||
| SUPPLEMENTAL CASH FLOW INFORMATION | |||||
| Unpaid vessel improvement costs (included in Accounts payable and Accrued liabilities) | 120,424 | 0 | 37,072 | ||
| Unpaid capital issuance costs (included in Accounts payable and Accrued Liabilities) | 75,478 | 0 | 0 | ||
| Dividend on Series A preferred shares declared but unpaid | 106,944 | 0 | 0 | ||
| Excess of consideration over carrying value of acquired assets | $ 3,091,542 | $ 0 | $ 0 | ||
| |||||
CONSOLIDATED BALANCE SHEETS - USD ($) |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| CURRENT ASSETS: | ||
| Cash and cash equivalents | $ 5,649,692 | $ 369 |
| Due from related parties, current | $ 6,034,859 | $ 12,376,064 |
| Other Receivable, after Allowance for Credit Loss, Current, Related Party, Type [Extensible Enumeration] | Related Party [Member] | Related Party [Member] |
| Accounts receivable trade | $ 620,683 | $ 416,300 |
| Inventories | 147,365 | 45,595 |
| Prepaid expenses and other assets | 398,812 | 45,612 |
| Investment in crypto-assets-Bitcoin | 3,851,400 | 0 |
| Total current assets | 16,702,811 | 12,883,940 |
| NON-CURRENT ASSETS: | ||
| Vessels, net | 39,207,988 | 6,875,903 |
| Due from related parties | $ 981,162 | $ 388,542 |
| Other Receivable, after Allowance for Credit Loss, Noncurrent, Related Party [Extensible Enumeration] | Related Party [Member] | Related Party [Member] |
| Prepaid expenses and other assets, non current | $ 357,769 | $ 357,769 |
| Deferred charges, net | 1,699,383 | 1,075,826 |
| Total non-current assets | 42,246,302 | 8,698,040 |
| Total assets | 58,949,113 | 21,581,980 |
| CURRENT LIABILITIES: | ||
| Accounts payable | 512,030 | 156,253 |
| Due to related parties, current | $ 106,944 | $ 0 |
| Other Liability, Current, Related Party, Type [Extensible Enumeration] | Related Party [Member] | Related Party [Member] |
| Deferred revenue | $ 698,000 | $ 0 |
| Accrued liabilities | 1,285,392 | 313,905 |
| Total current liabilities | 2,602,366 | 470,158 |
| NON-CURRENT LIABILITIES: | ||
| Total non-current liabilities | 0 | 0 |
| Commitments and contingencies | ||
| MEZZANINE EQUITY: | ||
| Mezzanine equity | 25,877,180 | 0 |
| SHAREHOLDERS' EQUITY: | ||
| Former Net Parent Company investment | 0 | 21,111,822 |
| Common shares, $0.001 par value; 1,000 and 3,900,000,000 shares authorized; 1,000 and 2,805,745 shares issued; 1,000 and 2,774,865 shares (net of 30,880 treasury shares) outstanding as of December 31, 2024, and December 31, 2025, respectively | 2,805 | 1 |
| Preferred shares, $0.001 par value: 0 and 100,000,000 shares authorized; Series B preferred shares: 0 and 40,000 shares issued and outstanding as of December 31, 2024 and December 31, 2025, respectively | 40 | 0 |
| Additional paid-in capital | 31,573,963 | 0 |
| Treasury shares; 0 and 30,880 shares as of December 31, 2024 and 2025, respectively | (130,548) | 0 |
| Due from stockholder | 0 | (1) |
| Accumulated deficit | (976,693) | 0 |
| Total shareholders' equity | 30,469,567 | 21,111,822 |
| Total liabilities, mezzanine equity and shareholders' equity | 58,949,113 | 21,581,980 |
| 1.00% Series A Fixed Rate Cumulative Perpetual Convertible Preferred Shares [Member] | ||
| MEZZANINE EQUITY: | ||
| Mezzanine equity | $ 25,877,180 | $ 0 |