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Revenues
 12 Months Ended
Dec. 31, 2021
Revenue from Contract with Customer [Abstract]  
Revenues
16. Revenues
The amounts in the accompanying consolidated statements of operations are analyzed as follows:
 
    
Year ended December 31,
  
    
2019
     
2020
     
2021
  
Time charter revenues
      97,249,537        101,837,425        105,966,167  
Bareboat revenues
      21,764,102        16,876,956        9,624,684  
Voyage charter revenues
      24,018,198        25,161,401        33,813,496  
Other income
      1,227,475        1,127,239        800,180  
    
 
 
     
 
 
     
 
 
  
Total
   
 
144,259,312
 
   
 
145,003,021
 
   
 
150,204,527
 
    
 
 
     
 
 
     
 
 
  
The amount of revenue earned as demurrage relating to the Company’s voyage charters for the years ended December 31, 2019, 2020 and 2021 was $2.0 million, $2.4 million and $4.1 million, respectively and is included within “Voyage charter revenues” in the above table.
As of December 31, 2020 and 2021, the Company recognized $309,608 and $298,984, respectively, of contract fulfillment costs which mainly represent bunker expenses incurred prior to commencement of loading relating to the Company’s voyage charters. These costs are recorded in “Other current assets” in the consolidated balance sheets.
As of December 31, 2019, 2020 and 2021, revenues relating to undelivered performance obligations of the Company’s voyage charters amounted to $439,135, $1,353,290 and $1,789,720, respectively. The Company recognized these amounts as revenues in the first quarters of 2020
, 2021
and 202
2
, respectively.

 
Three of the time charters entered into in 2014, also grant the charterer an option to purchase the respective vessels during the time charter period, at stipulated prices, decreasing on a
pro-rated
basis by a fixed amount per year until the expiration of the time charters. These options expire in 2022.