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Consolidated Balance Sheets - USD ($)
Dec. 31, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents $ 86,146,552 $ 69,927,594
Restricted cash - current 0 18,846,177
Accounts receivable, net of a reserve of $1,818,482 and $2,357,191, respectively 28,456,036 13,843,480
Prepaid expenses 3,361,730 3,182,815
Inventories 17,651,381 11,624,833
Collateral on derivatives 15,080,567 0
Fair value of derivative assets - current 4,668,873 0
Other current assets 667,677 839,881
Total current assets 156,032,816 118,264,780
Noncurrent assets:    
Vessels and vessel improvements, at cost, net of accumulated depreciation of $218,669,885 and $177,771,755, respectively 908,075,913 810,713,959
Advances for vessel purchases 0 3,250,000
Operating lease, right-of-use asset 17,017,429 7,540,871
Other fixed assets, net of accumulated depreciation of $1,402,584 and $1,137,562, respectively 257,228 489,179
Restricted cash - noncurrent 75,000 75,000
Deferred drydock costs, net 37,093,531 24,153,776
Fair value of derivative assets - noncurrent 3,112,091 0
Advances for scrubbers and ballast water systems and other assets 4,994,416 2,639,491
Total noncurrent assets 970,625,608 848,862,276
Total assets 1,126,658,424 967,127,056
Current liabilities:    
Accounts payable 20,781,295 10,589,970
Accrued interest 2,957,241 4,690,135
Other accrued liabilities 17,993,299 11,747,064
Fair value of derivative liabilities - current 4,253,155 481,791
Lease liabilities - short term 15,728,107 7,615,371
Unearned charter hire revenue 12,087,586 8,072,295
Current portion of long-term debt 49,800,000 39,244,297
Total current liabilities 123,600,683 82,440,923
Noncurrent liabilities:    
Total debt 330,243,604 412,931,021
Lease liabilities - long term 1,282,553 686,422
Other noncurrent accrued liabilities 265,365 0
Fair value of derivative liabilities - noncurrent 0 650,607
Total noncurrent liabilities 331,791,522 414,268,050
Total liabilities 455,392,205 496,708,973
Commitments and contingencies
Stockholders' equity:    
Preferred stock, $0.01 par value, 25,000,000 shares authorized, none issued as of December 31, 2021 and 2020 0 0
Common stock, $0.01 par value, 700,000,000 shares authorized, 12,917,027 and 11,661,797 shares issued and outstanding as of December 31, 2021 and 2020, respectively 129,170 116,618
Additional paid-in capital 982,745,562 943,571,685
Accumulated deficit (313,494,798) (472,137,822)
Accumulated other comprehensive income/(loss) 1,886,285 (1,132,398)
Total stockholders' equity 671,266,219 470,418,083
Total liabilities and stockholders' equity 1,126,658,424 967,127,056
Fair Value Of Derivative, Noncurrent | Designated as Hedging Instrument    
Noncurrent liabilities:    
Fair value of derivative liabilities - noncurrent 0 650,607
Fair Value Of Derivative, Current | Designated as Hedging Instrument    
Current liabilities:    
Fair value of derivative liabilities - current 884,725 481,791
Norwegian Bond Debt    
Noncurrent liabilities:    
Total debt 0 169,290,230
Super Senior Revolver Facility    
Noncurrent liabilities:    
Total debt 0 14,896,357
Ultraco Global Debt Facility    
Noncurrent liabilities:    
Total debt 229,289,860 0
Convertible Bond Debt    
Noncurrent liabilities:    
Total debt 100,953,744 96,660,485
New Ultraco Debt Facility    
Noncurrent liabilities:    
Total debt $ 0 $ 132,083,949