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Long-Term Debt (Tables) | 12 Months Ended
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Dec. 31, 2023
Long-Term Debt [Abstract] |
Long-Term Debt | The amount of long-term debt shown in the accompanying consolidated balance sheet of December 31, 2023, is analyzed as follows:
|  |  | Year/Period Ended |
Loan facilities | Borrowers |  | December 31, 2022 |  |  | December 31, 2023 |
$11.0 Million Term Loan Facility (a) | Spetses- Pikachu |  | $ | 6,200,000 |  |  | $ | 4,600,000 |
$4.5 Million Term Loan Facility (b) | Bistro |  |  | 2,850,000 |  |  |  | — |
$15.29 Million Term Loan Facility (c) | Pocahontas- Jumaru |  |  | 11,993,000 |  |  |  | 10,109,000 |
$40.75 Million Term Loan Facility (d) | Liono-Snoopy-Cinderella-Luffy |  |  | 34,980,000 |  |  |  | 23,055,000 |
$23.15 Million Term Loan Facility (e) | Bagheera-Garfield |  |  | 17,800,500 |  |  |  | — |
$55.00 Million Term Loan Facility (f) | Mulan- Johnny Bravo-Songoku-Asterix-Stewie |  |  | 44,395,000 |  |  |  | 32,040,000 |
$22.5 million Term Loan Facility (g) | Tom-Jerry |  |  | 22,250,000 |  |  |  | 16,800,000 |
Total long-term debt |  |  | $ | 140,468,500 |  |  | $ | 86,604,000 |
Less: Deferred financing costs |  |  |  | (1,696,738 | ) |  |  | (808,215 | )
Total long-term debt, net of deferred finance costs |  |  | $ | 138,771,762 |  |  | $ | 85,795,785 |
Presented: |  |  |  |  |  |  |  |  |
Current portion of long-term debt |  |  | $ | 29,848,400 |  |  | $ | 18,089,000 |
Less: Current portion of deferred finance costs |  |  |  | (677,585 | ) |  |  | (409,705 | )
Current portion of long-term debt, net of deferred finance costs |  |  | $ | 29,170,815 |  |  | $ | 17,679,295 |
Debt related to assets held for sale |  |  | $ | — |  |  | $ | 2,415,000 |
Less: Current portion of deferred finance costs |  |  |  | — |  |  |  | (8,352 | )
Debt related to assets held for sale, net of deferred finance costs |  |  | $ | — |  |  | $ | 2,406,648 |
Non-Current portion of long-term debt |  |  |  | 110,620,100 |  |  |  | 66,100,000 |
Less: Non-Current portion of deferred finance costs |  |  |  | (1,019,153 | ) |  |  | (390,158 | )
Non-Current portion of long-term debt, net of deferred finance costs |  |  | $ | 109,600,947 |  |  | $ | 65,709,842 |
Annual Principal Payments | The annual principal payments for the Company’s outstanding debt arrangements (including the debt related to assets held for sale) as of December 31, 2023, required to be made after the balance sheet date, are as follows:
Twelve-month period ending December 31, |  | Amount |
2024 |  | $ | 20,504,000 |
2025 |  |  | 21,015,000 |
2026 |  |  | 25,175,000 |
2027 |  |  | 19,910,000 |
Total long-term debt |  | $ | 86,604,000 |

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- 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
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- Definition Tabular disclosure of maturity and sinking fund requirement for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 470 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481544/470-10-50-1 + Details
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