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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities:      
Net income/(loss) $ 111,841,258 $ (50,945,905) $ (20,400,686)
Adjustments to reconcile net income/(loss) to net cash provided by operating activities:      
Depreciation and amortization 66,262,530 65,201,151 65,329,951
Amortization of operating lease right-of-use asset 1,885,522    
Amortization of financing costs 2,893,392 3,136,051 7,506,509
Unrealized (gain)/loss on derivatives 18,206,769 7,816,401 (8,421,531)
Stock-based compensation expense 3,227,686 5,476,234 5,138,489
Gain on early extinguishment of debt     (4,117,364)
Unrealized foreign currency (gain)/loss, net 311,539 303,835 (63,761)
Other non-cash items, net (1,200,001) (48,182) 144,545
Changes in operating assets and liabilities      
Trade receivables, net and accrued revenue 563,272 (1,047,956) (325,132)
Prepaid expenses and other current assets (222,510) (537,549) (579,981)
Due from related parties (25,692,058) (17,574,923) 15,576,280
Inventories 115,434 (98,730) 567,835
Other non-current assets (1,356,007) (131,457) (10,171)
Operating lease liabilities—current and long-term (1,888,347)    
Trade accounts payable 1,470,669 793,925 (561,808)
Accrued expenses and other liabilities (2,078,325) (2,999,444) (2,406,945)
Due to related parties (52,794) 144,129 334,353
Payments for drydocking costs (5,251,622) (604,147) (461,480)
Net cash provided by operating activities 169,036,407 8,883,433 57,249,103
Cash flows from investing activities:      
Vessel-related capital expenditures (19,883,090) (3,972,815) (297,534)
Payments for short-term investments (14,888,638) (499,690)  
Proceeds from sale of investment securities 1,767,906    
Payments to acquire other fixed assets (141,012) (47,799) (139,503)
Net cash used in investing activities (33,144,834) (4,520,304) (437,037)
Cash flows from financing activities:      
Proceeds from long-term debt borrowings   65,137,500 261,000,000
Repayment of long-term debt borrowings (63,968,414) (130,205,069) (251,994,382)
Purchase of treasury stock (50,642,795) (1,310,064) (1,220,535)
Financing costs paid (40,547) (628,144) (3,113,425)
Net cash provided by/(used in) financing activities (114,651,756) (67,005,777) 4,671,658
Effects of exchange rates on cash and cash equivalents (323,336) (253,086) (8,042)
Net increase/(decrease) in cash, cash equivalents, and restricted cash 20,916,481 (62,895,734) 61,475,682
Cash, cash equivalents, and restricted cash at the beginning of the period 66,472,646 129,368,380 67,892,698
Cash, cash equivalents, and restricted cash at the end of the period 87,389,127 66,472,646 129,368,380
Supplemental disclosure of cash flow information      
Cash paid during the period for interest 32,461,153 36,906,567 27,958,102
Cash paid for amounts included in the measurement of operating lease liabilities 2,810,468    
Vessel-related capital expenditures included in liabilities 4,408,333 33,015 60,854
Financing costs included in liabilities $ 595,138 $ 595,138 $ 142,434