v2.4.0.6
Consolidated Balance Sheets (USD $)
Dec. 31, 2011
Dec. 31, 2010
Current assets:    
Cash and cash equivalents $ 8,299,646 $ 5,796,862
Due from charterers, net 1,652,789 666,007
Prepaid expenses and other current assets 2,467,436 2,392,838
Total current assets 12,419,871 8,855,707
Noncurrent assets:    
Vessels, net of accumulated depreciation of $22,106,977 and $7,352,729, respectively 370,221,281 384,590,337
Fixed assets, net of accumulated depreciation of $20,515 and $6,060, respectively 22,929 37,384
Deferred financing costs, net of accumulated amortization of $736,994 and $269,976, respectively 2,290,446 2,670,290
Total noncurrent assets 372,534,656 387,298,011
Total assets 384,954,527 396,153,718
Current liabilities:    
Accounts payable and accrued expenses 1,972,218 3,345,266
Deferred revenue 70,440 385,288
Due to Parent 58,648 1,738,004
Total current liabilities 2,101,306 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 103,351,306 106,718,558
Commitments and contingencies      
Shareholders' equity:    
Additional paid-in capital 280,923,195 288,095,548
Retained earnings 453,025 1,113,786
Total shareholders' equity 281,603,221 289,435,160
Total liabilities and shareholders' equity 384,954,527 396,153,718
Common stock
    
Shareholders' equity:    
Common stock 170,010 168,835
Class B stock
    
Shareholders' equity:    
Common stock $ 56,991 $ 56,991