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Condensed Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:    
Net income $ 5,869,100 $ 12,168,005
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 17,142,915 16,890,413
Amortization of operating lease right-of-use assets 2,360,289 2,267,769
Amortization of financing costs 689,841 2,394,510
Unrealized (gain)/loss on derivatives (433,726) 495,806
Stock-based compensation expense 647,124 1,930,902
Unrealized foreign currency (gain)/loss, net 4,602 (89,282)
Other non-cash items, net 1,386,734 (241,523)
Changes in operating assets and liabilities    
Trade receivables, net and accrued revenue (90,832) 619,720
Prepaid expenses and other current assets (1,309,965) (1,263,591)
Due from related parties 13,704,299 18,634,851
Inventories 35,036 (146,081)
Other non-current assets (886) 1,134,261
Operating lease liabilities-current and long-term (2,363,734) (2,268,125)
Trade accounts payable 1,140,387 370,337
Accrued expenses and other liabilities 675,379 (26,238)
Due to related parties (78,780) 1,632,391
Payments for drydocking costs (1,306,463) (1,537,775)
Net cash provided by operating activities 38,071,320 52,966,350
Cash flows from investing activities:    
Payments for vessels under construction and vessel capital expenditures (9,797,560) (3,657,669)
Purchases of investment securities (2,250,681)  
Net cash used in investing activities (12,048,241) (3,657,669)
Cash flows from financing activities:    
Proceeds from long-term debt borrowings   55,378,172
Repayment of long-term debt borrowings (12,955,071) (41,856,308)
Repurchase of common stock (14,064,071) (1,025,628)
Financing costs paid (68,604) (3,225,105)
Net cash provided by/(used in) financing activities (27,087,746) 9,271,131
Effects of exchange rates on cash and cash equivalents (9,723) 100,638
Net increase/(decrease) in cash, cash equivalents, and restricted cash (1,074,390) 58,680,450
Cash, cash equivalents, and restricted cash at the beginning of the period 84,727,199 87,389,127
Cash, cash equivalents, and restricted cash at the end of the period $ 83,652,809 $ 146,069,577