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Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2021
Mar. 31, 2021
Current assets    
Cash and cash equivalents $ 78,254,455 $ 79,330,007
Restricted cash - current 5,315,951 5,315,951
Trade receivables, net and accrued revenues 293,053 202,221
Due from related parties 43,587,076 56,191,375
Inventories 1,972,428 2,007,464
Vessel held for sale 38,975,510  
Prepaid expenses and other current assets 12,518,123 10,296,229
Total current assets 180,916,596 153,343,247
Fixed assets    
Vessels, net 1,326,629,701 1,377,028,255
Vessels under construction 8,057,066  
Other fixed assets, net 127,211 148,836
Total fixed assets 1,334,813,978 1,377,177,091
Other non-current assets    
Deferred charges, net 11,372,490 10,158,202
Due from related parties-non-current 22,000,000 23,100,000
Restricted cash - non-current 82,403 81,241
Operating lease right-of-use assets 15,317,897 17,672,227
Other non-current assets 83,723 82,837
Total assets 1,564,587,087 1,581,614,845
Current liabilities    
Trade accounts payable 14,150,781 9,831,328
Accrued expenses 10,667,824 8,765,264
Due to related parties 39,023 117,803
Deferred income 1,042,433 853,983
Derivative instruments 776,168 1,100,529
Current portion of long-term operating lease liabilities 9,646,563 9,591,447
Current portion of long-term debt 51,820,283 51,820,283
Total current liabilities 88,143,075 82,080,637
Long-term liabilities    
Long-term debt-net of current portion and deferred financing fees 527,317,928 539,651,761
Long-term operating lease liabilities 5,668,299 8,080,995
Derivative instruments 3,345,497 3,454,862
Other long-term liabilities 1,563,914 1,521,260
Total long-term liabilities 537,895,638 552,708,878
Total liabilities 626,038,713 634,789,515
Commitments and contingencies
Shareholders' equity    
Preferred stock, $0.01 par value, 50,000,000 shares authorized, none issued nor outstanding
Common stock, $0.01 par value, 450,000,000 shares authorized, 51,087,209 and 51,071,409 shares issued, 40,487,802 and 41,493,275 shares outstanding (net of treasury stock), as of June 30, 2021 and March 31, 2021, respectively 510,873 510,715
Additional paid-in-capital 757,423,183 756,776,217
Treasury stock, at cost; 10,599,407 and 9,578,134 shares as of June 30, 2021 and March 31, 2021, respectively (114,655,294) (99,862,114)
Retained earnings 295,269,612 289,400,512
Total shareholders' equity 938,548,374 946,825,330
Total liabilities and shareholders' equity $ 1,564,587,087 $ 1,581,614,845