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Long-term Debt (Tables) | 12 Months Ended
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Dec. 31, 2024
Debt Disclosure [Abstract] |
Schedule of Debt |
|  | Term Loans |  |  |  |
Issue Date/ Refinancing Date |  |  |  |  | Maturity Date |  |  | Drawn Amount |  |  | December 31, 2023 |  |  | December 31, 2024 |
March 2023 |  |  |  |  |  |  | January 2032 |  |  |  | 70,000,000 |  |  |  | — |  |  |  | 66,719,215 |
May 2016 |  |  |  |  |  |  | December 2025 |  |  |  | 65,650,000 |  |  |  | 21,234,160 |  |  |  | 19,161,840 |
March 2017 |  |  |  |  |  |  | April 2026 |  |  |  | 70,787,500 |  |  |  | 42,343,739 |  |  |  | — |
August 2021 |  |  |  |  |  |  | August 2026 |  |  |  | 60,000,000 |  |  |  | 29,260,092 |  |  |  | — |
December 2021 |  |  |  |  |  |  | January 2028 |  |  |  | 59,400,000 |  |  |  | 31,279,000 |  |  |  | — |
Total |  |  |  | 124,116,991 |  |  |  | 85,881,055 |
Current portion of long-term debt |  |  |  | 16,863,076 |  |  |  | 23,537,305 |
Long-term debt |  |  |  | 107,253,915 |  |  |  | 62,343,750 |
Total debt |  |  |  | 124,116,991 |  |  |  | 85,881,055 |
Current portion of deferred finance charges |  |  |  | 238,603 |  |  |  | 203,491 |
Deferred finance charges non-current |  |  |  | 335,740 |  |  |  | 787,895 |
Total deferred finance charges |  |  |  | 574,343 |  |  |  | 991,386 |
Total debt |  |  |  | 124,116,991 |  |  |  | 85,881,055 |
Less: Total deferred finance charges |  |  |  | 574,343 |  |  |  | 991,386 |
Total debt, net of deferred finance charges |  |  |  | 123,542,648 |  |  |  | 84,889,669 |
Less: Current portion of long-term debt, net of current portion of deferred finance charges |  |  |  | 16,624,473 |  |  |  | 23,333,814 |
Long-term debt |  |  |  | 106,918,176 |  |  |  | 61,555,855 |
Schedule of Maturities of Long-term Debt | The annual principal payments to be made, for the abovementioned loans, after December 31, 2024, are as follows:
December 31, |  | Amount |
2025 |  |  | 23,537,305 |
2026 |  |  | 4,375,000 |
2027 |  |  | 4,375,000 |
2028 |  |  | 4,375,000 |
Thereafter |  |  | 49,218,750 |
Total |  |  | 85,881,055 |

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- 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 -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 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482913/230-10-50-3 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482913/230-10-50-5 + Details
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