Consolidated Balance Sheets - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 53,583,898	$ 67,209,753
Restricted cash - current	5,471,470	0
Accounts receivable, net of a reserve of $2,472,345 and $2,073,616, respectively	19,982,871	19,785,582
Prepaid expenses	4,631,416	4,635,879
Inventories	15,824,278	16,137,785
Vessels held for sale	0	8,458,444
Other current assets	1,039,430	2,246,740
Total current assets	100,533,363	118,474,183
Noncurrent assets:
Vessels and vessel improvements, at cost, net of accumulated depreciation of $153,029,544 and $124,907,998, respectively	835,959,084	682,944,936
Advance for vessel purchase	0	2,040,000
Operating lease right-of-use assets	20,410,037
Other fixed assets, net of accumulated depreciation of $832,541 and $547,452, respectively	740,654	692,803
Restricted cash - noncurrent	74,917	10,953,885
Deferred drydock costs, net	17,495,270	12,186,356
Deferred financing costs - Super Senior Facility	166,111	285,342
Advances for scrubbers and ballast water systems and other assets	26,707,700	18,631,655
Total noncurrent assets	901,553,773	727,734,977
Total assets	1,002,087,136	846,209,160
Current liabilities:
Accounts payable	13,483,397	14,161,169
Accrued interest	5,321,089	1,735,631
Other accrued liabilities	28,996,836	10,064,017
Fair value of derivatives	756,229	929,313
Current portion of operating lease liabilities	13,255,978
Unearned charter hire revenue	4,692,259	6,926,839
Current portion of long-term debt	35,709,394	29,176,230
Total current liabilities	102,215,182	62,993,199
Noncurrent liabilities:
Total debt	410,067,224	301,583,347
Operating lease liabilities	8,301,793
Other liabilities	0	208,651
Fair value below contract value of time charters acquired	0	1,818,114
Total noncurrent liabilities	418,369,017	303,610,112
Total liabilities	520,584,199	366,603,311
Commitments and contingencies
Stockholders' equity:
Preferred stock, $.01 par value, 25,000,000 shares authorized, none issued as of December 31, 2019 and 2018	0	0
Common stock, $.01 par value, 700,000,000 shares authorized, 71,502,206 and 71,055,400 shares issued and outstanding as of December 31, 2019 and 2018, respectively	715,022	710,555
Additional paid-in capital	917,862,269	894,272,533
Accumulated deficit	(437,074,354)	(415,377,239)
Total stockholders' equity	481,502,937	479,605,849
Total liabilities and stockholders' equity	1,002,087,136	846,209,160
Norwegian Bond Debt
Noncurrent liabilities:
Total debt	175,867,310	182,469,155
New First Lien Facility
Noncurrent liabilities:
Total debt	0	48,189,307
New Ultraco Debt Facility
Noncurrent liabilities:
Total debt	141,396,770	0
Original Ultraco Debt Facility
Noncurrent liabilities:
Total debt	0	70,924,885
Convertible Bond Debt
Noncurrent liabilities:
Total debt	$ 92,803,144	$ 0