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Segment Information (Tables) | 12 Months Ended
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Dec. 31, 2022
Segment Information [Abstract] |
Information about Company's Reportable Segments | The table below presents information about the Company’s reportable segments as of and for the year ended December 31, 2020, when the Company had one reportable segment, and for the years ended December 31, 2021 and 2022, when the Company had more than one reportable segments. The accounting policies followed in the preparation of the reportable segments are the same as those followed in the preparation of the Company’s consolidated financial statements. Segment results are evaluated based on income/ (loss) from operations.
|  | Year ended December 31, |  |  | Year ended December 31, |  |  | Year ended December 31, |
|  | 2020 |  |  | 2021 |  |  | 2022 |
|  | Dry bulk segment |  |  | Dry bulk segment |  |  | Aframax/LR2 tanker segment |  |  | Handysize tanker segment |  |  | Total |  |  | Dry bulk segment |  |  | Aframax/LR2 tanker segment |  |  | Handysize tanker segment |  |  | Container ship segment |  |  | Total |
- Time charter revenues |  | $ | 12,487,692 |  |  | $ | 102,785,442 |  |  | $ | 9,115,257 |  |  | $ | — |  |  | $ | 111,900,699 |  |  | $ | 148,930,997 |  |  | $ | 13,656,029 |  |  | $ | — |  |  | $ | 1,285,133 |  |  | $ | 163,872,159 |
- Voyage charter revenues |  |  | — |  |  |  | — |  |  |  | 15,002,012 |  |  |  | — |  |  |  | 15,002,012 |  |  |  | — |  |  |  | 51,805,097 |  |  |  | — |  |  |  | — |  |  |  | 51,805,097 |
- Pool revenues |  |  | — |  |  |  | — |  |  |  | 2,442,144 |  |  |  | 2,704,855 |  |  |  | 5,146,999 |  |  |  | — |  |  |  | 30,787,089 |  |  |  | 15,637,653 |  |  |  | — |  |  |  | 46,424,742 |
Total vessel revenues |  | $ | 12,487,692 |  |  | $ | 102,785,442 |  |  | $ | 26,559,413 |  |  | $ | 2,704,855 |  |  | $ | 132,049,710 |  |  | $ | 148,930,997 |  |  | $ | 96,248,215 |  |  | $ | 15,637,653 |  |  | $ | 1,285,133 |  |  | $ | 262,101,998 |
Voyage expenses (including charges from related party) |  |  | (584,705 | ) |  |  | (1,891,265 | ) |  |  | (11,003,925 | ) |  |  | (55,593 | ) |  |  | (12,950,783 | ) |  |  | (3,649,943 | ) |  |  | (29,100,348 | ) |  |  | (219,066 | ) |  |  | (71,333 | ) |  |  | (33,040,690 | )
Vessel operating expenses |  |  | (7,447,439 | ) |  |  | (26,841,600 | ) |  |  | (9,776,724 | ) |  |  | (2,585,147 | ) |  |  | (39,203,471 | ) |  |  | (40,697,898 | ) |  |  | (17,386,009 | ) |  |  | (4,322,281 | ) |  |  | (561,656 | ) |  |  | (62,967,844 | )
Management fees to related parties |  |  | (930,500 | ) |  |  | (4,890,900 | ) |  |  | (1,433,950 | ) |  |  | (419,900 | ) |  |  | (6,744,750 | ) |  |  | (6,481,000 | ) |  |  | (2,167,000 | ) |  |  | (666,500 | ) |  |  | (81,400 | ) |  |  | (9,395,900 | )
Depreciation and amortization |  |  | (1,904,963 | ) |  |  | (10,528,711 | ) |  |  | (3,087,764 | ) |  |  | (746,353 | ) |  |  | (14,362,828 | ) |  |  | (18,039,966 | ) |  |  | (5,889,352 | ) |  |  | (1,405,124 | ) |  |  | (495,271 | ) |  |  | (25,829,713 | )
Provision for doubtful accounts |  |  | (37,103 | ) |  |  | (2,483 | ) |  |  | — |  |  |  | — |  |  |  | (2,483 | ) |  |  | — |  |  |  | (266,732 | ) |  |  | — |  |  |  | — |  |  |  | (266,732 | )
Gain on sale of vessel |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 3,222,631 |  |  |  | — |  |  |  | — |  |  |  | 3,222,631 |
Segments operating income/(loss) |  | $ | 1,582,982 |  |  | $ | 58,630,483 |  |  | $ | 1,257,050 |  |  | $ | (1,102,138 | ) |  | $ | 58,785,395 |  |  | $ | 80,062,190 |  |  | $ | 44,661,405 |  |  | $ | 9,024,682 |  |  | $ | 75,473 |  |  | $ | 133,823,750 |
Interest and finance costs |  |  | (810,317 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (2,631,318 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (8,545,149 | )
Interest income |  |  | 9,387 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 11,651 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,485,368 |
Foreign exchange (losses)/gains |  |  | (28,455 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 31,325 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 99,134 |
Less: Unallocated corporate general and administrative expenses |  |  | (1,130,953 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (3,266,310 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (7,043,937 | )
Less: Corporate Interest and finance costs |  |  | (1,379,260 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (223,680 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (38,905 | )
Less: Corporate Interest income |  |  | 25,589 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 63,472 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 72,735 |
Less: Corporate exchange (losses)/ gains |  |  | (866 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (2,709 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 4,566 |
Dividend on equity securities |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 24,528 |
Profit from equity securities |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 27,450 |
Net (loss)/income and comprehensive (loss)/income, before taxes |  | $ | (1,731,893 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 52,767,826 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 119,909,540 |
Reconciliation of Total Segment Assets to Total Assets | A reconciliation of total segment assets to total assets presented in the accompanying consolidated balance sheets of December 31, 2021, and 2022, is as follows:
|  | Year Ended December 31, 2021 |  |  | Year Ended December 31, 2022 |
Dry bulk segment |  | $ | 314,407,704 |  |  | $ | 339,599,683 |
Aframax tanker segment |  |  | 104,953,507 |  |  |  | 134,093,678 |
Handysize tanker segment |  |  | 19,093,379 |  |  |  | 23,385,458 |
Containership segment |  |  | — |  |  |  | 52,850,927 |
Cash and cash equivalents (1) |  |  | 23,950,795 |  |  |  | 82,336,406 |
Prepaid expenses and other assets (1) |  |  | 508,057 |  |  |  | 654,796 |
Total consolidated assets |  | $ | 462,913,442 |  |  | $ | 632,920,948 |
(1) | Refers to assets of other, non-vessel owning, entities included in the consolidated financial statements.

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599 + Details
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