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Significant Accounting Policies (Tables) - Accounting Standards Update 2014-09 [Member] | 12 Months Ended
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Dec. 31, 2018
Schedule of Impact of Adoption of ASU 2014-09 on Consolidated Balance Sheet and Consolidated Statement of Operations | The following table presents the impact of the adoption of ASU 2014-09 on our consolidated balance sheet at December 31, 2018:
|  | As at December 31, 2018 |
|  | As reported |  |  | Balances without adoption of ASU 2014-09 |  |  | Effect of change |
Assets |  |  |  |  |  |  |  |  |  |  |  |
Current Assets |  |  |  |  |  |  |  |  |  |  |  |
Trade and other receivables |  | $ | 2,888,496 |  |  | $ | 2,941,191 |  |  | $ | (52,695 | )
Other current assets |  |  | 134,301 |  |  |  | — |  |  |  | 134,301 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Payable to related party |  |  | 7,930,642 |  |  |  | 7,931,297 |  |  |  | (655 | )
Accrued and other liabilities |  |  | 6,879,488 |  |  |  | 6,880,536 |  |  |  | (1,048 | )
The following table presents the impact of the adoption of ASU 2014-09 on our consolidated statement of operations:
|  | For the year ended December 31, 2018 |
|  | As reported |  |  | Balances without adoption of ASU 2014-09 |  |  | Effect of change |
Total revenues |  | $ | 164,330,202 |  |  | $ | 163,744,736 |  |  | $ | (585,466 | )
Voyage expenses |  |  | 18,649,258 |  |  |  | 18,498,600 |  |  |  | 150,658 |
Voyage expenses – related party |  |  | 2,037,917 |  |  |  | 2,030,599 |  |  |  | 7,318 |
Net loss |  |  | (12,276,520 | ) |  |  | (12,704,010 | ) |  |  | (427,490 | )
Basic earnings per share |  | $ | (0.31 | ) |  | $ | (0.32 | ) |  | $ | (0.01 | )
Diluted earnings per share |  | $ | (0.31 | ) |  | $ | (0.32 | ) |  | $ | (0.01 | )
Schedule of Cumulative Effect of Changes on Consolidated Balance Sheet for Adoption of ASC 606 | The cumulative effect of changes made to our opening Consolidated Balance Sheet on January 1, 2018 for the adoption of ASC 606:
|  | December 31, 2017 |  |  | Effect of adoption of ASC 606 |  |  | January 1, 2018 |
Assets |  |  |  |  |  |  |  |  |  |  |  |
Current Assets |  |  |  |  |  |  |  |  |  |  |  |
Trade and other receivables |  |  | 3,853,992 |  |  |  | (567,845 | ) |  |  | 3,286,147 |
Other current assets |  |  | — |  |  |  | 293,664 |  |  |  | 293,664 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Deferred income |  |  | 4,362,056 |  |  |  | 70,000 |  |  |  | 4,432,056 |
Stockholders’ Equity |  |  |  |  |  |  |  |  |  |  |  |
Retained earnings |  |  | 93,469,787 |  |  |  | (344,181 | ) |  |  | 93,125,606 |

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