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Consolidated Statements of Shareholders' Equity - USD ($)
Common Stock [Member]
Additional Paid-in Capital [Member]
Retained Earnings [Member]
Total
Balance (in shares) at Dec. 31, 2020 6,708,946      
Balance at Dec. 31, 2020 $ 201,268 $ 257,467,980 [1] $ (230,333,881) $ 27,335,367
Net income 0 0 [1] 42,963,660 42,963,660
Dividends to Series B preferred shares 0 0 [1] (255,324) (255,324)
Preferred deemed dividend $ 0 0 [1] (345,628) (345,628)
Issuance of shares (in shares) 82,901      
Issuance of shares $ 2,487 608,746 [1] 0 611,233
Issuance of restricted shares for stock incentive award and share-based compensation (in shares) 49,650      
Issuance of restricted shares for stock incentive award and share-based compensation $ 1,490 180,834 [1] 0 182,324
Issuance of shares in connection with Series B Preferred Shares converted to equity (in shares) 453,044      
Issuance of shares in connection with Series B Preferred Shares converted to equity $ 13,591 6,351,673 0 6,365,264
Balance (in shares) at Dec. 31, 2021 7,294,541      
Balance at Dec. 31, 2021 $ 218,836 264,609,233 [1] (187,971,173) 76,856,896
Net income $ 0 0 106,244,916 106,244,916
Issuance of restricted shares for stock incentive award and share-based compensation (in shares) 60,000      
Issuance of restricted shares for stock incentive award and share-based compensation $ 1,800 949,585 [1] 0 951,385
Repurchase and cancellation of common shares (in shares) (238,335)      
Repurchase and cancellation of common shares $ (7,150) (5,019,596) 0 (5,026,746)
Dividends declared ($1.50 per share) $ 0 0 (10,871,254) (10,871,254)
Balance (in shares) at Dec. 31, 2022 7,116,206      
Balance at Dec. 31, 2022 $ 213,486 260,539,222 [1] (92,597,511) 168,155,197
Net income $ 0 0 114,549,279 114,549,279
Issuance of restricted shares for stock incentive award and share-based compensation (in shares) 60,500      
Issuance of restricted shares for stock incentive award and share-based compensation $ 1,815 1,081,599 0 1,083,414
Repurchase and cancellation of common shares (in shares) (162,375)      
Repurchase and cancellation of common shares $ (4,871) (3,140,564) 0 (3,145,435)
Dividends declared ($1.50 per share) 0 0 (14,021,226) (14,021,226)
Offering expenses paid $ 0 (46,020) 0 (46,020)
Balance (in shares) at Dec. 31, 2023 7,014,331      
Balance at Dec. 31, 2023 $ 210,430 $ 258,434,237 $ 7,930,542 $ 266,575,209
[1] Adjusted to reflect the 1-for-8 reverse stock split effected at the close of trading on December 18, 2019.