XML 48 R36.htm IDEA: XBRL DOCUMENT v3.23.1

Long-term Debt (Tables)

12 Months Ended

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

X

- References

No definition available.

+ Details

Name:	us-gaap_DebtDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 50
-Paragraph 4
-URI https://asc.fasb.org/extlink&oid=126999549&loc=d3e4313-108586

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 50
-Paragraph 5
-URI https://asc.fasb.org/extlink&oid=126999549&loc=d3e4332-108586

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=126999549&loc=d3e4304-108586

+ Details

Name:	us-gaap_ScheduleOfDebtConversionsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation.

+ References

No definition available.

+ Details

Name:	us-gaap_ScheduleOfDebtTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration