Financial Instruments and Fair Value Disclosures (Tables)

3 Months Ended

Jun. 30, 2019

Financial Instruments and Fair Value Disclosures

Schedule of financial derivatives

		June 30, 2019				March 31, 2019
	Other non-current assets		Long-term liabilities		Other non-current assets		Long-term liabilities
Derivatives not designated as hedging instruments	Derivative instruments		Derivative instruments		Derivative instruments		Derivative instruments
Interest rate swap agreements	$	1,687,524	$	1,309,815	$	6,448,498	$	—

Schedule of effect of derivative instruments on the consolidated statement of operations

		Three months ended
Derivatives not designated as hedging instruments	Location of gain/(loss) recognized	June 30, 2019		June 30, 2018
Interest Rate Swap—Change in fair value	Unrealized gain/(loss) on derivatives	$	(6,070,789)	$	1,707,616
Interest Rate Swap—Realized gain/(loss)	Realized gain on derivatives		1,032,995		782,565
Gain/(loss) on derivatives, net		$	(5,037,794)	$	2,490,181

Summary of carrying value and estimated fair value of Japanese Financings

	June 30, 2019				March 31, 2019
	Carrying Value		Fair Value		Carrying Value		Fair Value
Corsair Japanese Financing	$	46,583,333	$	46,284,958	$	47,395,833	$	45,901,900
Concorde Japanese Financing		51,153,846		50,761,370		51,961,538		50,176,288
Corvette Japanese Financing		51,692,308		51,289,452		52,500,000		50,671,689
CJNP Japanese Financing		20,144,375		20,892,845		20,506,250		20,918,881
CMNL Japanese Financing		19,103,720		19,876,285		19,446,131		19,862,056
CNML Japanese Financing		21,315,030		22,191,997		21,666,369		22,137,090