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Consolidated Balance Sheets - USD ($)
Dec. 31, 2022
Mar. 31, 2022
Current assets    
Cash and cash equivalents $ 129,816,670 $ 236,758,927
Trade receivables, net and accrued revenues 8,290,143 853,060
Due from related parties 77,922,053 57,782,831
Inventories 2,612,904 2,266,351
Prepaid expenses and other current assets 9,415,894 10,232,083
Total current assets 228,057,664 307,893,252
Fixed assets    
Vessels, net 1,193,974,225 1,238,061,690
Vessel under construction 26,045,036 16,401,532
Other fixed assets, net 37,241 54,101
Total fixed assets 1,220,056,502 1,254,517,323
Other non-current assets    
Deferred charges, net 8,945,598 9,839,000
Derivative instruments 11,359,543 6,512,479
Due from related parties-non-current 20,900,000 19,800,000
Restricted cash - non-current 75,360 77,987
Operating lease right-of-use assets 38,877,468 8,087,014
Other non-current assets 2,134,886 635,038
Total assets 1,530,407,021 1,607,362,093
Current liabilities    
Trade accounts payable 9,965,969 9,541,131
Accrued expenses 6,201,359 3,801,448
Due to related parties 6,041,597 37,433
Deferred income 117,410 813,967
Current portion of long-term operating lease liabilities 8,396,020 8,073,364
Current portion of long-term debt 52,136,738 72,075,571
Dividends payable 1,011,126 494,180
Total current liabilities 83,870,219 94,837,094
Long-term liabilities    
Long-term debt-net of current portion and deferred financing fees 577,202,083 590,687,387
Long-term operating lease liabilities 30,488,622  
Other long-term liabilities 1,518,817 1,686,197
Total long-term liabilities 609,209,522 592,373,584
Total liabilities 693,079,741 687,210,678
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, 51,595,898 and 51,321,695 shares issued, 40,350,535 and 40,185,042 shares outstanding (net of treasury stock), as of December 31, 2022 and March 31, 2022, respectively 515,960 513,217
Additional paid-in-capital 763,547,096 760,105,994
Treasury stock, at cost; 11,245,363 and 11,136,653 shares as of December 31, 2022 and March 31, 2022, respectively (122,896,838) (121,226,936)
Retained earnings 196,161,062 280,759,140
Total shareholders' equity 837,327,280 920,151,415
Total liabilities and shareholders' equity $ 1,530,407,021 $ 1,607,362,093