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Long-term Debt (Tables) | 12 Months Ended
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Dec. 31, 2021
Debt Disclosure [Abstract] |
Schedule of Debt |
Term Loans |  | Drawn Amount |  |  | December 31, 2020 |  |  | 2021 |
Issue Date/ Refinancing Date |  | Maturity Date
December 14, 2018 |  | November 10, 2021 |  |  | 14,094,184 |  |  |  | 9,694,184 |  |  |  | — |
May 28, 2019 |  | August 6, 2021 |  |  | 11,000,000 |  |  |  | 9,080,000 |  |  |  | — |
August 6, 2019 |  | August 6, 2021 |  |  | 27,675,000 |  |  |  | 18,600,000 |  |  |  | — |
July 5, 2019 |  | July 11, 2026 |  |  | 22,230,000 |  |  |  | 18,260,357 |  |  |  | 15,084,643 |
March 29, 2019 |  | December 29, 2022 |  |  | 25,458,432 |  |  |  | 13,701,816 |  |  |  | 3,039,647 |
January 11, 2021 |  | January 14, 2026 |  |  | 50,225,000 |  |  |  | 25,420,000 |  |  |  | 22,675,000 |
December 14, 2018 |  | December 18, 2023 |  |  | 9,480,000 |  |  |  | 7,880,000 |  |  |  | 7,080,000 |
June 20, 2014 |  | January 21, 2021 |  |  | 20,925,000 |  |  |  | 12,760,000 |  |  |  | — |
August 6, 2019 |  | August 6, 2021 |  |  | 67,200,000 |  |  |  | 43,635,000 |  |  |  | — |
December 24, 2015 |  | January 25, 2021 |  |  | 22,400,000 |  |  |  | 14,933,360 |  |  |  | — |
January 19, 2021 |  | January 21, 2028 |  |  | 43,800,000 |  |  |  | 14,218,750 |  |  |  | 40,731,975 |
July 29, 2014 |  | July 7, 2023 |  |  | 25,350,000 |  |  |  | 14,259,375 |  |  |  | 12,146,875 |
December 7, 2017 |  | November 10, 2021 |  |  | 22,275,000 |  |  |  | 14,010,000 |  |  |  | — |
May 18, 2016 |  | December 31, 2025 |  |  | 65,650,000 |  |  |  | 52,842,620 |  |  |  | 48,739,300 |
March 1, 2017 |  | April 17, 2026 |  |  | 70,787,500 |  |  |  | 57,512,495 |  |  |  | 52,456,243 |
June 17, 2020 |  | June 19, 2026 |  |  | 11,505,000 |  |  |  | 11,121,500 |  |  |  | 10,354,500 |
April 30, 2020 |  | November 7, 2026 |  |  | 15,600,000 |  |  |  | 15,600,000 |  |  |  | 14,733,333 |
April 30, 2020 |  | February 4, 2027 |  |  | 18,850,000 |  |  |  | — |  |  |  | 18,064,582 |
August 5, 2021 |  | August 6, 2026 |  |  | 60,000,000 |  |  |  | — |  |  |  | 58,060,931 |
Total |  |  |  |  |  |  |  |  | 353,529,457 |  |  |  | 303,167,029 |
Current portion of long-term debt |  |  |  |  |  |  | 41,161,686 |  |  |  | 32,464,732 |
Current portion of long-term debt associated with vessel held for sale |  |  |  |  |  |  | — |  |  |  | 7,173,988 |
Long-term debt |  |  |  |  |  |  |  |  | 312,367,771 |  |  |  | 263,528,309 |
Total debt |  |  |  |  |  |  |  |  | 353,529,457 |  |  |  | 303,167,029 |
Current portion of deferred finance charges |  |  |  |  |  |  | 613,794 |  |  |  | 628,113 |
Deferred finance charges non-current |  |  |  |  |  |  | 1,118,450 |  |  |  | 1,567,334 |
Total deferred finance charges |  |  |  |  |  |  | 1,732,244 |  |  |  | 2,195,447 |
Total debt |  |  |  |  |  |  |  |  | 353,529,457 |  |  |  | 303,167,029 |
Less: Total deferred finance charges |  |  |  |  |  |  | 1,732,244 |  |  |  | 2,195,447 |
Total debt, net of deferred finance charges |  |  |  | 351,797,213 |  |  |  | 300,971,582 |
Less: Current portion of long-term debt, net of current portion of deferred finance charges |  |  |  |  |  |  | 40,547,892 |  |  |  | 31,836,619 |
Less: Current portion of long-term debt, associated with vessel held for sale |  |  |  |  |  |  | — |  |  |  | 7,173,988 |
Long-term debt |  |  |  | 311,249,321 |  |  |  | 261,960,975 |
Schedule of Maturities of Long-term Debt | The annual principal payments to be made, for the abovementioned loans, after December 31, 2021, and after taking into account the refinancing arrangements, are as follows:
December 31, |  | Amount |
202 2 |  |  | 39,638,720 |
202 3 |  |  | 30,607,086 |
202 4 |  |  | 30,607,086 |
202 5 |  |  | 62,933,106 |
202 6 |  |  | 91,723,313 |
Thereafter |  |  | 47,657,718 |
Total |  |  | 303,167,029 |

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