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Consolidated Balance Sheets - USD ($)
Dec. 31, 2018
Dec. 31, 2017
Current Assets    
Cash and cash equivalents $ 64,498,442 $ 51,754,131
Trade and other receivables 2,888,496 3,853,992
Other current assets 134,301  
Claims receivable   15,951
Inventories 2,346,723 2,762,299
Advances and prepayments 1,089,539 1,221,029
Restricted cash 3,002,490 3,231,323
Assets held for sale 64,906,448  
Total current assets 138,866,439 62,838,725
Non current assets    
Advances for vessels under construction and acquisitions   61,577,818
Vessels, net 884,748,691 862,061,906
Other receivables 108,930 243,075
Restricted cash 11,930,059 7,917,738
Deferred finance charges 0 941,760
Fair value of derivatives 1,068,369 645,169
Total non current assets 897,856,049 933,387,466
Total assets 1,036,722,488 996,226,191
Current liabilities    
Payable to related party 7,930,642 14,209,624
Trade accounts payable 10,349,358 10,509,465
Accrued liabilities 6,879,488 5,880,479
Customer deposits 1,336,000 1,820,700
Deferred income 5,191,654 4,362,056
Current portion of long-term debt 41,726,837 41,966,607
Current portion of long-term debt associated with vessels held for sale 30,076,356  
Total current liabilities 103,490,335 78,748,931
Non current liabilities    
Fair value of derivatives 465,389 126,525
Customer deposits   736,000
Deferred gain on sale and leaseback of vessels   190,087
Deferred income   4,035
Long-term debt 371,514,253 342,941,841
Total noncurrent liabilities 371,979,642 343,998,488
Total liabilities 475,469,977 422,747,419
Commitments and contingencies
Stockholders' equity    
Capital stock 445,496 442,850
Treasury stock, 4,424,545 shares at December 31, 2017 and 2018 with a par value of $0.01 per share (22,523,528) (22,523,528)
Additional paid-incapital 501,807,478 501,471,768
Retained earnings 80,849,086 93,469,787
Accumulated other comprehensive income 673,979 617,895
Total stockholders' equity 561,252,511 573,478,772
Total liabilities and stockholders' equity $ 1,036,722,488 $ 996,226,191