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Consolidated Balance Sheets - USD ($)
Jun. 30, 2017
Dec. 31, 2016
Current assets    
Cash and cash equivalents $ 29,436,482 $ 22,322,949
Restricted cash 4,000,000 6,100,000
Accounts receivable (net of allowance of $4,283,826 at June 30, 2017 and $4,752,265 at December 31, 2016) 26,653,536 20,476,797
Bunker inventory 14,944,785 13,202,937
Advance hire, prepaid expenses and other current assets 9,931,653 6,441,583
Total current assets 84,966,456 68,544,266
Fixed assets, net 293,793,460 275,265,672
Investments in newbuildings in-process 0 18,383,964
Capital lease asset, net 30,576,925 0
Total assets 409,336,841 362,193,902
Current liabilities    
Accounts payable, accrued expenses and other current liabilities 29,342,760 23,231,179
Related party debt 6,850,173 15,972,147
Deferred revenue 6,905,467 6,422,982
Current portion long-term debt 18,343,971 19,627,846
Capital Lease Obligations, Current 1,733,509 0
Dividend payable 12,624,825 12,624,825
Total current liabilities 75,800,705 77,878,979
Secured long-term debt, net 117,689,641 107,637,851
Capital Lease Obligations, Noncurrent 25,921,758 0
Commitments and contingencies (Note 7)
Stockholders' equity:    
Common stock, $0.0001 par value, 100,000,000 shares authorized; 41,197,404 shares issued and outstanding at June 30, 2017; 36,590,417 shares issued and outstanding at December 31, 2016 4,120 3,659
Additional paid-in capital 148,888,160 133,677,321
Accumulated deficit (20,799,954) (17,409,579)
Total Pangaea Logistics Solutions Ltd. equity 128,092,326 116,271,401
Non-controlling interests 61,832,411 60,405,671
Total stockholders' equity 189,924,737 176,677,072
Total liabilities and stockholders' equity $ 409,336,841 $ 362,193,902