Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 76,881,117	$ 56,251,044
Accounts receivable	13,072,691	17,246,540
Prepaid expenses	2,797,648	3,010,766
Short-term investment	0	4,500,000
Inventories	11,911,398	14,113,079
Vessel held for sale	10,354,855	9,316,095
Other current assets	2,540,427	785,027
Total current assets	117,558,136	105,222,551
Noncurrent assets:
Vessels and vessel improvements, at cost, net of accumulated depreciation of $113,539,571 and $99,910,416, respectively	686,424,065	690,236,419
Advance for vessel purchase	0	2,201,773
Other fixed assets, net of accumulated amortization of $432,225 and $343,799, respectively	580,020	617,343
Restricted cash	74,917	74,917
Deferred drydock costs, net	11,584,365	9,749,751
Deferred financing costs - Super Senior Facility	285,342	190,000
Other assets	55,815	57,181
Total noncurrent assets	699,004,524	703,127,384
Total assets	816,562,660	808,349,935
Current liabilities:
Accounts payable	8,123,778	7,470,844
Accrued interest	1,733,278	1,790,315
Other accrued liabilities	7,602,898	11,810,366
Fair value of derivatives	461,993	73,170
Unearned charter hire revenue	4,901,453	5,678,673
Current portion of long-term debt	19,812,713	4,000,000
Total current liabilities	42,636,113	30,823,368
Noncurrent liabilities:
Total debt	301,998,865	313,683,676
Other liabilities	216,924	177,846
Fair value below contract value of time charters acquired	2,159,062	2,500,012
Total noncurrent liabilities	304,374,851	316,361,534
Total liabilities	347,010,964	347,184,902
Commitments and contingencies
Stockholders' equity:
Preferred stock, $0.01 par value, 25,000,000 shares authorized, none issued as of June 30, 2018 and December 31, 2017, respectively	0	0
Common stock, $0.01 par value, 700,000,000 shares authorized, 70,516,466 and 70,394,307 shares issued and outstanding as of June 30, 2018 and December 31, 2017, respectively	705,165	703,944
Additional paid-in capital	893,294,942	887,625,902
Accumulated deficit	(424,448,411)	(427,164,813)
Total stockholders’ equity	469,551,696	461,165,033
Total liabilities and stockholders’ equity	816,562,660	808,349,935
Norwegian Bond Debt Facility
Noncurrent liabilities:
Total debt	186,381,482	189,950,329
New First Lien Facility
Noncurrent liabilities:
Total debt	52,353,586	63,758,185
Ultraco Debt Facility
Noncurrent liabilities:
Total debt	$ 63,263,797	$ 59,975,162