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Consolidated Balance Sheets - USD ($)
Jun. 30, 2022
Mar. 31, 2022
Current assets    
Cash and cash equivalents $ 155,518,158 $ 236,758,927
Trade receivables, net and accrued revenues 1,517,245 853,060
Due from related parties 60,936,121 57,782,831
Inventories 2,189,564 2,266,351
Prepaid expenses and other current assets 10,073,850 10,232,083
Total current assets 230,234,938 307,893,252
Fixed assets    
Vessels, net 1,223,273,413 1,238,061,690
Vessel under construction 24,882,121 16,401,532
Other fixed assets, net 93,664 54,101
Total fixed assets 1,248,249,198 1,254,517,323
Other non-current assets    
Deferred charges, net 9,139,814 9,839,000
Derivative instruments 8,966,713 6,512,479
Due from related parties-non-current 19,800,000 19,800,000
Restricted cash - non-current 73,727 77,987
Operating lease right-of-use assets 6,410,060 8,087,014
Other non-current assets 574,078 635,038
Total assets 1,523,448,528 1,607,362,093
Current liabilities    
Trade accounts payable 7,927,555 9,541,131
Accrued expenses 5,053,515 3,801,448
Due to related parties 31,535 37,433
Deferred income 3,604 813,967
Current portion of long-term operating lease liabilities 5,785,527 8,073,364
Current portion of long-term debt 51,929,438 72,075,571
Dividends payable 919,643 494,180
Total current liabilities 71,650,817 94,837,094
Long-term liabilities    
Long-term debt-net of current portion and deferred financing fees 605,106,749 590,687,387
Long-term operating lease liabilities 622,769  
Other long-term liabilities 1,718,858 1,686,197
Total long-term liabilities 607,448,376 592,373,584
Total liabilities 679,099,193 687,210,678
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, 51,321,695 and 51,071,409 shares issued, 40,185,042 and 41,493,275 shares outstanding (net of treasury stock), as of March 31, 2022 and March 31, 2021, respectively 513,375 513,217
Additional paid-in-capital 760,764,708 760,105,994
Treasury stock, at cost; 11,136,653 and 9,578,134 shares as of March 31, 2022 and March 31, 2021, respectively (122,198,003) (121,226,936)
Retained earnings 205,269,255 280,759,140
Total shareholders' equity 844,349,335 920,151,415
Total liabilities and shareholders' equity $ 1,523,448,528 $ 1,607,362,093