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Consolidated Statements of Operations - USD ($)
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Time charter revenue $ 41,769,278 $ 36,062,202 $ 24,278,048
Voyage charter revenue 206,682 559,319
Related party management fee income 240,000
Commissions (including $310,467, $453,361 and $493,341, respectively, to related party) (1,745,599) (1,844,147) (1,318,248)
Net revenue, continuing operations 40,023,679 34,424,737 23,759,119
Operating expenses      
Voyage expenses 1,055,408 1,261,088 1,564,489
Vessel operating expenses (including $190,723, $256,069 and $249,081, respectively, to related party) 23,983,282 19,986,170 15,019,342
Other operating income (499,103)
Dry-docking expenses 2,714,662 2,774,924 571,291
Vessel depreciation 4,178,886 3,305,951 3,585,965
Related party management fees 3,671,335 3,536,094 2,632,637
General and administrative expenses (including $1,306,476, $1,561,126 and $1,344,250, respectively, to related party) 2,444,495 2,565,502 2,502,203
Net gain on sale of vessels (1,340,952) (803,811)
Loss on write-down of vessels held for sale 4,595,819
Total operating expenses, continuing operations 38,048,068 32,088,777 29,168,832
Operating (loss) / income, continuing operations 1,975,611 2,335,960 (5,409,713)
Other income/(expenses)      
Interest and other financing costs (including $0, $0 and $84,444, respectively, to related party) (3,424,969) (3,050,768) (1,554,695)
Loss on debt extinguishment (328,291)
Gain / (loss) on derivatives, net (2,885) (44,343) 12,389
Foreign exchange (loss) / gain 2,024 13,963 (30,214)
Interest income 95,839 81,792 37,972
Other expenses, net, continuing operations (3,658,282) (2,999,356) (1,534,548)
Net loss, continuing operations (1,682,671) (663,396) (6,944,261)
Dividends to Series B preferred shares (1,271,782) (1,335,733) (1,808,811)
Preferred deemed dividend (504,577)
Net loss attributable to common shareholders, continuing operations (3,459,030) (1,999,129) (8,753,072)
Net income attributable to common shareholders, discontinued operations 554,506 849,701
Net loss attributable to common shareholders $ (3,459,030) $ (1,444,623) $ (7,903,371)
Weighted average common shares –outstanding , basic and diluted (in shares) 2,861,928 1,414,775 1,383,440
Loss per share attributable to common shareholders - basic and diluted, continuing operations (in dollars per share) $ (1.21) $ (1.41) $ (6.33)
Earnings per share attributable to common shareholders - basic and diluted, discontinued operations (in dollars per share) 0.39 0.61
Loss per share attributable to common shareholders - basic and diluted, (in dollars per share) $ (1.21) $ (1.02) $ (5.72)