XML 14 R2.htm IDEA: XBRL DOCUMENT v3.5.0.2
Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2016
Mar. 31, 2016
Current assets    
Cash and cash equivalents $ 43,581,900 $ 46,411,962
Trade receivables, net and accrued revenues 25,580 107,317
Prepaid expenses and other receivables 2,548,623 2,247,706
Due from related parties 32,410,570 54,504,359
Inventories 2,070,638 2,288,073
Total current assets 80,637,311 105,559,417
Fixed assets    
Vessels, net 1,634,960,132 1,667,224,476
Other fixed assets, net 453,324 591,288
Total fixed assets 1,635,413,456 1,667,815,764
Other non-current assets    
Deferred charges, net 343,474 294,935
Due from related parties—non-current 18,700,000 17,600,000
Restricted cash 50,812,789 50,812,789
Other non-current assets 95,284 95,271
Total assets 1,786,002,314 1,842,178,176
Current liabilities    
Trade accounts payable 5,056,055 6,826,503
Accrued expenses 5,975,359 9,721,477
Due to related parties 532,788 708,210
Deferred income 6,581,476 4,606,540
Current portion of long-term debt 65,978,785 66,265,643
Total current liabilities 84,124,463 88,128,373
Long-term liabilities    
Long-term debt—net of current portion and deferred financing fees 715,158,576 746,354,613
Derivative instruments 19,489,621 21,647,965
Other long-term liabilities 430,949 447,988
Total long-term liabilities 735,079,146 768,450,566
Total liabilities 819,203,609 856,578,939
Commitments and contingencies
Shareholders' equity    
Preferred stock, $0.01 par value, 50,000,000 shares authorized, none issued nor outstanding
Common stock, $0.01 par value, 450,000,000 shares authorized, 58,324,573 and 58,057,493 shares issued, 54,973,143 and 56,125,028 shares outstanding (net of treasury stock), as of September 30, 2016 and March 31, 2016, respectively 583,246 580,575
Additional paid-in-capital 850,666,442 848,179,471
Treasury stock, at cost; 3,351,430 and 1,932,465 shares as of September 30, 2016 and March 31, 2016, respectively (33,797,281) (20,943,816)
Retained earnings 149,346,298 157,783,007
Total shareholders' equity 966,798,705 985,599,237
Total liabilities and shareholders' equity $ 1,786,002,314 $ 1,842,178,176