XML 16 R4.htm IDEA: XBRL DOCUMENT v3.21.2
Condensed Consolidated Statements of Operations - USD ($)
3 Months Ended 6 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenues.        
Revenues $ 63,086,858 $ 54,710,277 $ 126,037,596 $ 127,875,601
Expenses        
Voyage expenses 1,064,613 858,919 2,421,005 1,674,114
Charter hire expenses 2,403,968 4,518,850 5,912,038 9,234,448
Vessel operating expenses 18,428,738 21,435,904 38,710,292 38,825,267
Depreciation and amortization 16,769,098 17,202,714 33,912,013 34,093,127
General and administrative expenses 9,351,728 5,912,810 17,390,535 17,215,786
Total expenses 48,018,145 49,929,197 98,345,883 101,042,742
Gain on disposal of vessel 3,466,210   3,466,210  
Other income-related parties 580,387 632,680 1,213,275 1,100,703
Operating income 19,115,310 5,413,760 32,371,198 27,933,562
Other income/(expenses)        
Interest and finance costs (5,557,707) (6,665,144) (11,207,481) (15,752,380)
Interest income 39,104 91,349 225,403 216,184
Unrealized gain on derivatives 714,998 3,968,686 1,148,724 3,472,880
Realized loss on derivatives (914,837) (2,129,695) (1,818,555) (2,935,924)
Other gain/(loss), net 704,935 (141,006) (748,386) (228,367)
Total other income/(expenses), net (5,013,507) (4,875,810) (12,400,295) (15,227,607)
Net income $ 14,101,803 $ 537,950 $ 19,970,903 $ 12,705,955
Weighted average shares outstanding Basic (in shares) 40,011,505 50,711,714 40,475,625 50,632,392
Weighted average shares outstanding Diluted (in shares) 40,114,942 50,754,507 40,639,073 50,716,177
Earnings per common share - basic (in dollars per share) $ 0.35 $ 0.01 $ 0.49 $ 0.25
Earnings per common share - diluted (in dollars per share) $ 0.35 $ 0.01 $ 0.49 $ 0.25
Net pool revenues - related party        
Revenues.        
Revenues $ 56,721,405 $ 49,723,556 $ 111,883,651 $ 116,652,977
Time charter revenues        
Revenues.        
Revenues 5,268,603 4,177,064 10,614,742 9,263,068
Other revenues, net        
Revenues.        
Revenues $ 1,096,850 $ 809,657 $ 3,539,203 $ 1,959,556