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Fair Value Measurements (Details) - USD ($)
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Dec. 31, 2020
Assets          
Cash and cash equivalents $ 125,644,368   $ 125,644,368   $ 88,848,771
Collateral on derivatives 31,369,664   31,369,664   0
Other current assets 1,097,484   1,097,484   483,739
Liabilities          
Fair value of Derivatives - current and noncurrent 24,381,091   24,381,091   1,132,398
Restricted cash 25,600,000   25,600,000   18,900,000
FFAs - realized loss | Other current assets          
Assets          
Collateral on derivatives 31,400,000   31,400,000   100,000
Norwegian Bond Debt Facility          
Liabilities          
Debt instrument 176,000,000   176,000,000   180,000,000
New Ultraco Debt Facility          
Liabilities          
Debt instrument 158,671,371   158,671,371   166,429,594
Holdco Revolving Facility          
Liabilities          
Debt instrument 24,000,000   24,000,000    
Convertible Bond Debt          
Liabilities          
Debt instrument 114,119,000   114,119,000   114,120,000
Super Senior Facility          
Liabilities          
Debt instrument         15,000,000
Level 2          
Assets          
Other current assets         352,399
Level 2 | Not Designated as Hedging Instrument          
Liabilities          
Derivatives not designated as hedging instruments, location of (gain)/loss recognized 8,990,568 $ 2,971,353 45,587,799 $ (4,030,674)  
Level 2 | FFAs - realized loss | Not Designated as Hedging Instrument | Realized and unrealized loss/(gain) on derivative instruments, net          
Liabilities          
Derivatives not designated as hedging instruments, location of (gain)/loss recognized 16,138,822 2,088,537 23,493,503 1,404,060  
Level 2 | FFAs - unrealized (gain)/loss | Not Designated as Hedging Instrument | Realized and unrealized loss/(gain) on derivative instruments, net          
Liabilities          
Derivatives not designated as hedging instruments, location of (gain)/loss recognized (6,787,069) $ 1,230,727 24,381,810 $ 3,327,509  
Level 2 | Interest Rate Swap | Not Designated as Hedging Instrument | Realized and unrealized loss/(gain) on derivative instruments, net          
Liabilities          
Derivatives not designated as hedging instruments, location of (gain)/loss recognized         1,100,000
Recurring | Level 1          
Assets          
Cash and cash equivalents 125,644,368   125,644,368   88,848,771
Collateral on derivatives 31,369,664   31,369,664    
Other current assets 0   0   131,340
Liabilities          
Fair value of Derivatives - current and noncurrent 0   0   0
Recurring | Level 1 | Norwegian Bond Debt Facility          
Liabilities          
Debt instrument 0   0   0
Recurring | Level 1 | New Ultraco Debt Facility          
Liabilities          
Debt instrument 0   0   0
Recurring | Level 1 | Holdco Revolving Facility          
Liabilities          
Debt instrument 0   0    
Recurring | Level 1 | Convertible Bond Debt          
Liabilities          
Debt instrument 0   0   0
Recurring | Level 1 | Super Senior Facility          
Liabilities          
Debt instrument         0
Recurring | Level 2          
Assets          
Cash and cash equivalents 0   0   0
Collateral on derivatives 0   0    
Other current assets 1,097,484   1,097,484    
Liabilities          
Fair value of Derivatives - current and noncurrent 24,381,091   24,381,091   1,132,398
Recurring | Level 2 | Norwegian Bond Debt Facility          
Liabilities          
Debt instrument 179,960,000   179,960,000   173,250,000
Recurring | Level 2 | New Ultraco Debt Facility          
Liabilities          
Debt instrument 158,671,371   158,671,371   166,429,594
Recurring | Level 2 | Holdco Revolving Facility          
Liabilities          
Debt instrument 24,000,000   24,000,000    
Recurring | Level 2 | Convertible Bond Debt          
Liabilities          
Debt instrument $ 171,178,500   $ 171,178,500   92,748,748
Recurring | Level 2 | Super Senior Facility          
Liabilities          
Debt instrument         $ 15,000,000