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Long-term Debt (Tables)

12 Months Ended

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
2022			39,638,720
2023			30,607,086
2024			30,607,086
2025			62,933,106
2026			91,723,313
Thereafter			47,657,718
Total			303,167,029

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Tabular disclosure of information on an original debt issue that has been converted in a noncash (or part noncash) transaction during the accounting period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period. The information may be presented entirely or partially in this block of text or in the associated elements.

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-Name Accounting Standards Codification
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