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Long-term Debt (Tables) | 12 Months Ended
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Dec. 31, 2022
Debt Disclosure [Abstract] |
Schedule of Debt |
Term Loans |  |  |
Issue Date/ Refinancing Date |  | Maturity Date |  | Drawn Amount |  |  | December 31, 2021 |  |  | December 31, 2022 |
July 2019 |  | January 2022 |  |  | 22,230,000 |  |  |  | 15,084,643 |  |  |  | — |
March 2019 |  | March 2022 |  |  | 25,458,432 |  |  |  | 3,039,647 |  |  |  | — |
January 2021 |  | January 2026 |  |  | 50,225,000 |  |  |  | 22,675,000 |  |  |  | 19,645,000 |
December 2018 |  | January 2022 |  |  | 9,480,000 |  |  |  | 7,080,000 |  |  |  | — |
January 2021 |  | January 2028 |  |  | 43,800,000 |  |  |  | 40,731,975 |  |  |  | 30,893,547 |
July 2014 |  | January 2022 |  |  | 25,350,000 |  |  |  | 12,146,875 |  |  |  | — |
May 2016 |  | December 2025 |  |  | 65,650,000 |  |  |  | 48,739,300 |  |  |  | 44,635,980 |
March 2017 |  | April 2026 |  |  | 70,787,500 |  |  |  | 52,456,243 |  |  |  | 47,399,991 |
June 2020 |  | January 2022 |  |  | 11,505,000 |  |  |  | 10,354,500 |  |  |  | — |
April 2020 |  | February 2027 |  |  | 34,450,000 |  |  |  | 32,797,915 |  |  |  | 30,884,026 |
August 2021 |  | August 2026 |  |  | 60,000,000 |  |  |  | 58,060,931 |  |  |  | 50,304,660 |
December 2021 |  | January 2028 |  |  | 59,400,000 |  |  |  | — |  |  |  | 55,224,000 |
Total |  |  |  |  |  |  | 303,167,029 |  |  |  | 278,987,204 |
Current portion of long-term debt |  |  |  |  |  |  | 32,464,732 |  |  |  | 30,666,756 |
Current portion of long-term debt associated with vessel held for sale |  |  |  |  |  |  | 7,173,988 |  |  |  | — |
Long-term debt |  |  |  |  |  |  | 263,528,309 |  |  |  | 248,320,448 |
Total debt |  |  |  |  |  |  | 303,167,029 |  |  |  | 278,987,204 |
F-22
Term Loans |  |  |
Issue Date/ Refinancing Date |  | Maturity Date |  | Drawn Amount |  |  | December 31, 2021 |  |  | December 31, 2022 |
Current portion of deferred finance charges |  |  |  |  |  |  | 628,113 |  |  |  | 582,950 |
Deferred finance charges non-current |  |  |  |  |  |  | 1,567,334 |  |  |  | 1,291,625 |
Total deferred finance charges |  |  |  |  |  |  | 2,195,447 |  |  |  | 1,874,575 |
Total debt |  |  |  |  |  |  | 303,167,029 |  |  |  | 278,987,204 |
Less: Total deferred finance charges |  |  |  |  |  |  | 2,195,447 |  |  |  | 1,874,575 |
Total debt, net of deferred finance charges |  |  |  |  |  |  | 300,971,582 |  |  |  | 277,112,629 |
Less: Current portion of long-term debt, net of current portion of deferred finance charges |  |  |  |  |  |  | 31,836,619 |  |  |  | 30,083,806 |
Less: Current portion of long-term debt, associated with vessel held for sale |  |  |  |  |  |  | 7,173,988 |  |  |  | — |
Long-term debt |  |  |  |  |  |  | 261,960,975 |  |  |  | 247,028,823 |
Schedule of Maturities of Long-term Debt | The annual principal payments to be made, for the abovementioned loans, after December 31, 2022, are as follows:
December 31, |  | Amount |
2023 |  |  | 30,666,756 |
2024 |  |  | 30,666,756 |
2025 |  |  | 62,992,776 |
2026 |  |  | 91,782,983 |
2027 |  |  | 21,845,483 |
Thereafter |  |  | 41,032,450 |
Total |  |  | 278,987,204 |

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