XML 16 R4.htm IDEA: XBRL DOCUMENT v3.10.0.1
Condensed Consolidated Statements of Operations - USD ($)
3 Months Ended 6 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Revenues.        
Revenues $ 40,807,542 $ 34,729,021 $ 68,451,824 $ 75,754,493
Expenses        
Voyage expenses 435,224 1,275,521 535,397 1,514,966
Vessel operating expenses 17,375,273 15,740,438 34,060,730 32,625,727
Depreciation and amortization 16,437,653 16,464,707 32,702,709 32,757,865
General and administrative expenses 7,462,726 5,421,145 15,866,012 13,956,054
Total expenses 41,710,876 38,901,811 83,164,848 80,854,612
Other income—related parties 584,632 638,070 1,229,149 1,271,953
Operating loss (318,702) (3,534,720) (13,483,875) (3,828,166)
Other income/(expenses)        
Interest and finance costs (10,152,672) (8,602,430) (20,526,953) (16,080,164)
Interest income 451,923 28,226 912,896 44,042
Unrealized gain/(loss) on derivatives 1,051,460 652,160 2,759,076 (1,718,031)
Realized gain/(loss) on derivatives 830,991 (435,920) 1,613,556 (1,048,783)
Gain on early extinguishment of debt       4,117,364
Foreign currency loss, net (40,120) (22,452) (48,378) (91,368)
Total other income/(expenses), net (7,858,418) (8,380,416) (15,289,803) (14,776,940)
Net loss $ (8,177,120) $ (11,915,136) $ (28,773,678) $ (18,605,106)
Weighted average shares outstanding basic and diluted (in shares) 54,431,820 54,076,271 54,313,255 53,976,330
Loss per common share—basic and diluted (in dollars per share) $ (0.15) $ (0.22) $ (0.53) $ (0.34)
Net pool revenue - related party        
Revenues.        
Revenues $ 32,027,042 $ 20,468,380 $ 48,133,443 $ 48,943,739
Time charter revenue        
Revenues.        
Revenues 8,640,000 12,507,394 20,107,881 25,072,049
Voyage charter revenue        
Revenues.        
Revenues   1,733,247   1,733,247
Other revenue, net        
Revenues.        
Revenues $ 140,500 $ 20,000 $ 210,500 $ 5,458