XML 18 R7.htm IDEA: XBRL DOCUMENT v3.21.2
Condensed Consolidated Statements of Stockholders' Equity - USD ($)
Total
Common Stock
Additional Paid-in Capital
Accumulated Deficit
Accumulated other comprehensive loss
Beginning balance (in shares) at Dec. 31, 2019 [1]   10,214,600      
Beginning balance at Dec. 31, 2019 $ 481,502,937 $ 102,146 [1] $ 918,475,145 [1] $ (437,074,354) $ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income/(loss) (3,527,759)     (3,527,759)  
Issuance of shares due to vesting of restricted shares (in shares) [1]   62,526      
Issuance of shares due to vesting of restricted shares [1]   $ 626 (626)    
Unrealized gain on cash flow hedges (271,868)       (271,868)
Cash used to settle net share equity awards (1,161,301)   (1,161,301) [1]    
Stock-based compensation 836,200   836,200 [1]    
Ending balance (in shares) at Mar. 31, 2020 [1]   10,277,126      
Ending balance at Mar. 31, 2020 477,378,209 $ 102,772 [1] 918,149,418 [1] (440,602,113) (271,868)
Beginning balance (in shares) at Dec. 31, 2019 [1]   10,214,600      
Beginning balance at Dec. 31, 2019 481,502,937 $ 102,146 [1] 918,475,145 [1] (437,074,354) 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income/(loss) (24,019,086)        
Unrealized gain on cash flow hedges (921,155)        
Ending balance (in shares) at Jun. 30, 2020 [1]   10,279,698      
Ending balance at Jun. 30, 2020 456,960,818 $ 102,798 [1] 918,872,615 [1] (461,093,440) (921,155)
Beginning balance (in shares) at Mar. 31, 2020 [1]   10,277,126      
Beginning balance at Mar. 31, 2020 477,378,209 $ 102,772 [1] 918,149,418 [1] (440,602,113) (271,868)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income/(loss) (20,491,327)     (20,491,327)  
Issuance of shares due to vesting of restricted shares (in shares) [1]   2,572      
Issuance of shares due to vesting of restricted shares [1]   $ 26 (26)    
Unrealized gain on cash flow hedges (649,287)       (649,287)
Stock-based compensation 723,223   723,223 [1]    
Ending balance (in shares) at Jun. 30, 2020 [1]   10,279,698      
Ending balance at Jun. 30, 2020 456,960,818 $ 102,798 [1] 918,872,615 [1] (461,093,440) (921,155)
Beginning balance (in shares) at Dec. 31, 2020   11,661,797      
Beginning balance at Dec. 31, 2020 470,418,083 $ 116,618 943,571,685 (472,137,822) (1,132,398)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income/(loss) 9,849,310     9,849,310  
Issuance of shares due to vesting of restricted shares (in shares)   71,146      
Issuance of shares due to vesting of restricted shares   $ 711 (711)    
Unrealized gain on cash flow hedges 599,884       599,884
Fees for equity offerings (31,830)   (31,830)    
Cash used to settle net share equity awards (811,456)   (811,456)    
Stock-based compensation 871,943   871,943    
Ending balance (in shares) at Mar. 31, 2021   11,732,943      
Ending balance at Mar. 31, 2021 480,895,934 $ 117,329 943,599,631 (462,288,512) (532,514)
Beginning balance (in shares) at Dec. 31, 2020   11,661,797      
Beginning balance at Dec. 31, 2020 470,418,083 $ 116,618 943,571,685 (472,137,822) (1,132,398)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income/(loss) 19,074,335        
Unrealized gain on cash flow hedges         644,204
Ending balance (in shares) at Jun. 30, 2021   12,753,255      
Ending balance at Jun. 30, 2021 526,258,356 $ 127,533 979,682,504 (453,063,487) (488,194)
Beginning balance (in shares) at Mar. 31, 2021   11,732,943      
Beginning balance at Mar. 31, 2021 480,895,934 $ 117,329 943,599,631 (462,288,512) (532,514)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income/(loss) $ 9,225,025     9,225,025  
Issuance of shares due to vesting of restricted shares (in shares)   2,773      
Issuance of shares due to vesting of restricted shares   $ 27 (27)    
Issuance of shares upon conversion of warrants (in shares) 432,037 432,037 [2]      
Issuance of shares upon conversion of warrants [2] $ 8,375,298 $ 4,322 8,370,976    
Issuance of shares from ATM Offering, net of commissions and issuance costs (in shares) [3]   581,385      
Issuance of shares from ATM Offering, net of commissions and issuance costs [3] $ 27,283,917 $ 5,814 27,278,103    
Issuance of shares upon exercise of stock options (in shares) 4,117        
Issuance of shares upon exercise of stock options $ 22,224 $ 41 22,183    
Unrealized gain on cash flow hedges 44,320       44,320
Cash used to settle net share equity awards (174,230)   (174,230)    
Stock-based compensation 585,868   585,868    
Ending balance (in shares) at Jun. 30, 2021   12,753,255      
Ending balance at Jun. 30, 2021 $ 526,258,356 $ 127,533 $ 979,682,504 $ (453,063,487) $ (488,194)
[1] Adjusted to give effect for the 1-for-7 Reverse Stock Split that became effective as of September 15, 2020, see Note 1.
[2] Please see Note 3 Vessels for additional information.
[3] Please see Note 1 Basis of presentation and general information for additional information.