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Unaudited Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2023
Mar. 31, 2023
Current assets    
Cash and cash equivalents $ 192,044,128 $ 148,797,232
Trade receivables, net and accrued revenues 1,010,622 3,282,256
Due from related parties 65,985,317 73,070,095
Inventories 2,684,640 2,642,395
Prepaid expenses and other current assets 15,684,776 8,507,007
Total current assets 277,409,483 236,298,985
Fixed assets    
Vessels, net 1,238,427,422 1,263,928,605
Other fixed assets, net   48,213
Total fixed assets 1,238,427,422 1,263,976,818
Other non-current assets    
Deferred charges, net 12,278,747 8,367,301
Derivative instruments 13,698,413 9,278,544
Due from related parties-non-current 25,300,000 20,900,000
Restricted cash - non-current 74,519 76,418
Operating lease right-of-use assets 207,234,723 158,179,398
Available-for-sale securities 9,518,211 11,366,838
Other non-current assets 83,418 469,227
Total assets 1,784,024,936 1,708,913,529
Current liabilities    
Trade accounts payable 12,451,265 10,807,376
Accrued expenses 5,095,067 5,637,725
Due to related parties 17,397 168,793
Deferred income 2,316,452 208,558
Current portion of long-term operating lease liabilities 31,471,560 23,407,555
Current portion of long-term debt 53,324,694 53,110,676
Dividends payable 640,770 1,255,861
Total current liabilities 105,317,205 94,596,544
Long-term liabilities    
Long-term debt-net of current portion and deferred financing fees 578,167,289 604,256,670
Long-term operating lease liabilities 175,777,685 134,782,483
Other long-term liabilities 1,453,542 1,431,510
Total long-term liabilities 755,398,516 740,470,663
Total liabilities 860,715,721 835,067,207
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, 51,955,408 and 51,630,593 shares issued, 40,607,892 and 40,382,730 shares outstanding (net of treasury stock), as of September 30, 2023 and March 31, 2023, respectively 519,554 516,306
Additional paid-in-capital 769,336,449 764,383,292
Treasury stock, at cost; 11,347,516 and 11,247,863 shares as of September 30, 2023 and March 31, 2023, respectively (125,670,534) (122,896,838)
Retained earnings 279,123,746 231,843,562
Total shareholders' equity 923,309,215 873,846,322
Total liabilities and shareholders' equity $ 1,784,024,936 $ 1,708,913,529