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Unaudited Interim Condensed Consolidated Statements of Operations - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Unaudited Interim Condensed Consolidated Statements of Operations        
Revenue, net $ 47,199,860 $ 45,206,271 $ 140,025,232 $ 178,332,280
Voyage expenses (23,100,685) (16,830,964) (63,985,687) (61,365,121)
Vessel operating expenses (15,511,136) (16,124,919) (45,091,468) (46,124,309)
Charter hire costs (2,281,452) (155,550) (4,845,334) (155,550)
Depreciation (7,978,252) (8,117,971) (23,693,915) (23,918,364)
Amortization of deferred drydock expenditures (1,134,332) (1,708,215) (3,884,365) (4,485,885)
General and administrative expenses        
Corporate (4,293,560) (4,116,490) (12,730,427) (12,054,616)
Commercial and chartering (750,472) (791,220) (2,197,189) (2,546,319)
Unrealized (losses) / gains on derivatives (25,394) 11,289 54,655 (88,003)
Interest expense and finance costs (4,383,322) (4,023,165) (12,471,055) (14,252,270)
Interest income 9,000 37,652 38,991 255,842
(Loss) / Income before taxes (12,249,745) (6,613,282) (28,780,562) 13,597,685
Income tax (44,792) (19,715) (136,006) (128,478)
Net (loss) / income (12,294,537) (6,632,997) (28,916,568) 13,469,207
Preferred dividend (535,616) 0 (617,123) 0
Net (loss) / income attributable to common stockholders $ (12,830,153) $ (6,632,997) $ (29,533,691) $ 13,469,207
(Loss) / Earnings per share, basic $ (0.37) $ (0.20) $ (0.88) $ 0.41
Weighted average number of shares outstanding, basic 34,363,884 33,285,255 33,720,853 33,243,493
(Loss) / Earnings per share, diluted $ (0.37) $ (0.20) $ (0.88) $ 0.40
Weighted average number of shares outstanding, diluted 34,363,884 33,285,255 33,720,853 33,426,412