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Consolidated Balance Sheets - USD ($)
Dec. 31, 2020
Dec. 31, 2019
Current assets    
Cash and cash equivalents $ 38,242,411 $ 68,465,342
Trade and other receivables 3,602,764 4,217,101
Other current assets 309,608 118,246
Claims receivable 120,547 314,217
Inventories 3,687,098 2,447,703
Advances and prepayments 782,125 749,681
Restricted cash 1,308,971 1,589,768
Fair value of derivatives   30,381
Total current assets 48,053,524 77,932,439
Non current assets    
Advances for vessel under construction 6,539,115 2,988,903
Operating lease right-of-use assets 0 473,132
Vessels, net 832,335,059 835,152,403
Other receivables 26,427 286,915
Restricted cash 13,488,820 12,065,222
Investments in joint ventures 43,177,657 25,250,173
Deferred finance charges 385,705  
Fair value of derivatives   39,744
Total non current assets 895,952,783 876,256,492
Total assets 944,006,307 954,188,931
Current liabilities    
Payable to related parties 4,659,861 7,043,121
Trade accounts payable 9,974,751 9,032,690
Accrued liabilities 3,773,499 6,002,079
Operating lease liabilities   473,132
Customer deposits 968,000 968,000
Deferred income 2,995,657 2,843,994
Fair value of derivatives 141,447 37,567
Current portion of long-term debt 40,547,892 40,735,556
Total current liabilities 63,061,107 67,136,139
Non current liabilities    
Fair value of derivatives 5,099,464 2,618,250
Long-term debt 311,249,321 325,247,902
Total non current liabilities 316,348,785 327,866,152
Total liabilities 379,409,892 395,002,291
Commitments and contingencies
Stockholders' equity    
Capital stock, 5,000,000 preferred shares authorized and zero outstanding with a par value of $0.01 per share, 100,000,000 common shares authorized 44,549,729 shares issued and 39,584,274 shares outstanding at December 31, 2019 and 43,183,684 shares issued and 37,858,437 shares outstanding at December 31, 2020 with a par value of $0.01 per share 431,836 445,496
Treasury stock, 4,965,455 at December 31, 2019 and 5,325,247 shares at December 31, 2020 with a par value of $0.01 per share (25,373,380) (24,361,145)
Additional paid-in capital 499,564,087 502,419,122
Retained earnings 94,926,695 82,942,210
Accumulated other comprehensive loss (4,952,823) (2,259,043)
Total stockholders' equity 564,596,415 559,186,640
Total liabilities and stockholders' equity $ 944,006,307 $ 954,188,931