PSHG Performance Shipping Inc

Item 1.

Item 2.

This Schedule 13G is being filed on behalf of (i) Mitchell P. Kopin, an individual who is a citizen of the United States of America (“Mr. Kopin”), (ii) Daniel B. Asher, an individual who is a citizen of the United States of America (“Mr. Asher”) and (iii) Intracoastal Capital LLC, a Delaware limited liability company (“Intracoastal” and together with Mr. Kopin and Mr. Asher, collectively the “Reporting Persons”).

The Reporting Persons have entered into a Joint Filing Agreement, a copy of which is filed with this Schedule 13G as Exhibit 1, pursuant to which the Reporting Persons have agreed to file this Schedule 13G jointly in accordance with the provisions of Rule 13d-1(k) of the Securities Exchange Act of 1934, as amended.

The principal business office of Mr. Kopin and Intracoastal is 245 Palm Trail, Delray Beach, Florida 33483.

The principal business office of Mr. Asher is 111 W. Jackson Boulevard, Suite 2000, Chicago, Illinois 60604.

Common Shares, $0.01 par value per share, of the Issuer (the “Common Stock”).

MHY673051212

Item 3. If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:

Not applicable.

Item 4. Ownership.

(i) Immediately following the execution of the securities purchase agreement with the Issuer on August 12, 2022 (the “SPA”) (as disclosed in the Form 6-K filed by the Issuer with the Securities and Exchange Commission on August 17, 2022), each of the Reporting Persons may have been deemed to have beneficial ownership of 3,040,510 shares of Common Stock, which consisted of (i) 2,900,000 shares of Common Stock to be issued to Intracoastal at the consummation of the transaction contemplated by the SPA and (ii) 140,510 shares of Common Stock issuable upon exercise of a warrant to be issued to Intracoastal at the consummation of the transaction contemplated by the SPA (“Intracoastal Warrant 1”), and all such shares of Common Stock in the aggregate represent beneficial ownership of approximately 9.99% of the Common Stock, based on (1) 27,395,030 shares of Common Stock outstanding prior to the execution of the SPA as reported by the Issuer, plus (2) 2,900,000 shares of Common Stock to be issued to Intracoastal at the consummation of the transaction contemplated by the SPA and (3) 140,510 shares of Common Stock issuable upon exercise of Intracoastal Warrant 1. The foregoing excludes (I) 2,759,490 shares of Common Stock issuable upon exercise of Intracoastal Warrant 1 because Intracoastal Warrant 1 contains a blocker provision under which the holder thereof does not have the right to exercise Intracoastal Warrant 1 to the extent (but only to the extent) that such exercise would result in beneficial ownership by the holder thereof, together with the holder’s affiliates, and any other persons acting as a group together with the holder or any of the holder’s affiliates, of more than 9.99% of the Common Stock, (II) 1,100,000 shares of Common Stock issuable upon exercise of a warrant held by Intracoastal (“Intracoastal Warrant 2”) because Intracoastal Warrant 2 contains a blocker provision under which the holder thereof does not have the right to exercise Intracoastal Warrant 2 to the extent (but only to the extent) that such exercise would result in beneficial ownership by the holder thereof, together with the holder’s affiliates, and any other persons acting as a group together with the holder or any of the holder’s affiliates, of more than 9.99% of the Common Stock and (III) 347,000 shares of Common Stock issuable upon exercise of a second warrant held by Intracoastal (“Intracoastal Warrant 3”) because Intracoastal Warrant 3 contains a blocker provision under which the holder thereof does not have the right to exercise Intracoastal Warrant 3 to the extent (but only to the extent) that such exercise would result in beneficial ownership by the holder thereof, together with the holder’s affiliates, and any other persons acting as a group together with the holder or any of the holder’s affiliates, of more than 4.99% of the Common Stock. Without such blocker provisions, each of the Reporting Persons may have been deemed to have beneficial ownership of 7,247,000 shares of Common Stock.

(ii) As of the close of business on August 19, 2022, each of the Reporting Persons may have been deemed to have beneficial ownership of 5,422,263 shares of Common Stock, which consisted of (i) 1,422,263 shares of Common Stock held by Intracoastal, (ii) 2,900,000 shares of Common Stock issuable upon exercise of Intracoastal Warrant 1 and (iii) 1,100,000 shares of Common Stock issuable upon exercise of Intracoastal Warrant 2, and all such shares of Common Stock represented beneficial ownership of approximately 8.4% of the Common Stock, based on (1) 60,728,363 shares of Common Stock outstanding on August 17, 2022, as reported by the Issuer, plus (2) 2,900,000 shares of Common Stock issuable upon exercise of Intracoastal Warrant 1 and (3) 1,100,000 shares of Common Stock issuable upon exercise of Intracoastal Warrant 2. The foregoing excludes 347,000 shares of Common Stock issuable upon exercise of Intracoastal Warrant 3 because Intracoastal Warrant 3 contains a blocker provision under which the holder thereof does not have the right to exercise Intracoastal Warrant 3 to the extent (but only to the extent) that such exercise would result in beneficial ownership by the holder thereof, together with the holder’s affiliates, and any other persons acting as a group together with the holder or any of the holder’s affiliates, of more than 4.99% of the Common Stock. Without such blocker provision, each of the Reporting Persons may have been deemed to have beneficial ownership of 5,769,263 shares of Common Stock.

(i) Sole power to vote or to direct the vote:       0       .

(ii) Shared power to vote or to direct the vote:       5,422,263                 .

(iii) Sole power to dispose or to direct the disposition of       0       .

(iv) Shared power to dispose or to direct the disposition of       5,422,263              .

Item 5. Ownership of Five Percent or Less of a Class

Not applicable.

Item 6. Ownership of More than Five Percent on Behalf of Another Person.

Not applicable.

Not applicable.

Item 8. Identification and Classification of Members of the Group

Not applicable.

Item 9. Notice of Dissolution of Group

Not applicable.

Item 10. Certification

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Date: August 22, 2022

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