v2.3.0.11
Condensed Consolidated Balance Sheets (USD $)
Jun. 30, 2011
Dec. 31, 2010
Current assets:    
Cash and cash equivalents $ 3,854,828 $ 5,796,862
Due from charterers, net of a reserve of $52,408 and $36,968, respectively 855,481 666,007
Prepaid expenses and other current assets 2,990,740 2,392,838
Total current assets 7,701,049 8,855,707
Noncurrent assets:    
Vessels, net of accumulated depreciation of $14,666,238 and $7,352,729, respectively 377,661,824 384,590,337
Fixed assets, net of accumulated depreciation of $13,228 and $6,060, respectively 30,216 37,384
Deferred financing costs, net of accumulated amortization of $502,207 and $269,976, respectively 2,525,233 2,670,290
Total noncurrent assets 380,217,273 387,298,011
Total assets 387,918,322 396,153,718
Current liabilities:    
Accounts payable and accrued expenses 2,386,312 3,345,266
Deferred revenue 281,037 385,288
Due to Parent 255,504 1,738,004
Total current liabilities 2,922,853 5,468,558
Noncurrent liabilities:    
Long-term debt 101,250,000 101,250,000
Total noncurrent liabilities: 101,250,000 101,250,000
Total liabilities 104,172,853 106,718,558
Commitments and contingencies    
Shareholders' equity:    
Additional paid-in capital 284,681,336 288,095,548
Retained (deficit) earnings (1,161,818) 1,113,786
Total shareholders' equity 283,745,469 289,435,160
Total liabilities and shareholders' equity 387,918,322 396,153,718
Common Stock
    
Shareholders' equity:    
Common stock 168,960 168,835
Class B Stock
    
Shareholders' equity:    
Common stock $ 56,991 $ 56,991