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Long-term Debt (Tables)

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Schedule of Debt

Term Loans
Issue Date/ Refinancing Date		Maturity Date				Drawn Amount				December 31, 2022				December 31, 2023
January 2021			January 2026				25,000,000				19,645,000				—
January 2021			January 2028				43,800,000				30,893,547				—
May 2016			December 2025				65,650,000				44,635,980				21,234,160
March 2017			April 2026				70,787,500				47,399,991				42,343,739
April 2020			February 2027				34,450,000				30,884,026				—
August 2021			August 2026				60,000,000				50,304,660				29,260,092
December 2021			January 2028				59,400,000				55,224,000				31,279,000
Total											278,987,204				124,116,991
Current portion of long-term debt											30,666,756				16,863,076
Long-term debt											248,320,448				107,253,915
Total debt											278,987,204				124,116,991
Current portion of deferred finance charges											582,950				238,603
Deferred finance charges non-current											1,291,625				335,740
Total deferred finance charges											1,874,575				574,343
Total debt											278,987,204				124,116,991
Less: Total deferred finance charges											1,874,575				574,343
Total debt, net of deferred finance charges											277,112,629				123,542,648
Less: Current portion of long-term debt, net of current portion of deferred finance charges											30,083,806				16,624,473
Long-term debt											247,028,823				106,918,176

Schedule of Maturities of Long-term Debt

The annual principal payments to be made, for the abovementioned loans, after December 31, 2023, are as follows:

December 31,		Amount
2024			16,863,076
2025			33,952,596
2026			54,058,319
2027			4,012,000
Thereafter			15,231,000
Total			124,116,991

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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.

+ References

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-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482913/230-10-50-4

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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.

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