Condensed Consolidated Statements of Cash Flows - USD ($)	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Cash flows from operating activities:
Net (loss)/income	$ (5,962,673)	$ 3,503,512
Adjustments to reconcile net (loss)/income to net cash provided by operating activities:
Depreciation	16,434,359	16,049,334
Amortization of operating lease right-of-use asset	6,242,947
Amortization of deferred drydocking costs	2,734,071	2,499,541
Amortization of debt discount and debt issuance costs	1,128,929	970,352
Amortization of fair value below contract value of time charter acquired	0	(340,950)
Loss on debt extinguishment	2,268,452	0
Gain on sale of vessels	(5,073,349)	(105,073)
Net unrealized gain on fair value of derivatives	(1,951,420)	(234,988)
Stock-based compensation expense	2,672,679	5,920,510
Drydocking expenditures	(4,506,257)	(4,632,000)
Changes in operating assets and liabilities:
Accounts payable	(4,411,836)	652,934
Accounts receivable	747,545	4,173,849
Accrued interest	1,023,820	(57,037)
Inventories	3,143,326	2,201,681
Operating lease liabilities short and long-term	(6,616,844)
Other current and non-current assets	885,451	(333,715)
Other accrued liabilities and other liabilities	3,540,176	(3,332,732)
Prepaid expenses	657,760	213,117
Unearned revenue	(4,496,185)	(2,360,838)
Net cash provided by operating activities	8,460,951	24,787,497
Cash flows from investing activities:
Purchase of vessel and vessel improvements	(18,477,740)	(20,301,806)
Proceeds from redemption of short-term investment	0	4,500,000
Proceeds from sale of vessels	22,631,367	9,719,013
Proceeds from hull and machinery insurance claims	1,301,546	0
Purchase of other fixed assets	(200,959)	(50,933)
Purchase of scrubbers and ballast water systems	(23,893,065)	0
Net cash used in investing activities	(18,638,851)	(6,133,726)
Cash flows from financing activities:
Repayments of long-term debt	(4,000,000)	0
Cash used to settle net share equity awards	(877,697)	(255,114)
Cash received from exercise of stock options	0	4,865
Other financing costs	(280,237)	(1,373,449)
Net cash (used in)/provided by financing activities	(2,522,855)	1,976,302
Net (decrease)/increase in cash, cash equivalents and restricted cash	(12,700,755)	20,630,073
Cash, cash equivalents and restricted cash at beginning of period	78,163,638	56,325,961
Cash, cash equivalents and restricted cash at end of period	65,462,883	76,956,034
SUPPLEMENTAL CASH FLOW INFORMATION
Cash paid during the period for interest	11,028,514	11,734,765
Accruals for Scrubbers and ballast water treatment systems included in Accounts payable and Other accrued liabilities	8,976,160	0
New First Lien Facility
Cash flows from financing activities:
Repayment of lines of credit	(5,000,000)	(5,000,000)
Proceeds from debt facility	5,000,000	0
Repayments of long-term debt	(60,000,000)	0
Ultraco Debt Facility
Cash flows from financing activities:
Proceeds from debt facility	0	8,600,000
Repayments of long-term debt	(82,600,000)	0
New Ultraco Debt Facility
Cash flows from financing activities:
Proceeds from debt facility	153,440,000	0
Repayments of long-term debt	(5,048,671)	0
Debt issuance costs paid to lenders on New Ultraco Debt Facility	$ (3,156,250)	$ 0