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Unaudited Condensed Consolidated Statements of Operations - USD ($)
3 Months Ended 6 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues:        
Net pool revenues - related party $ 137,851,402 $ 70,585,169 $ 242,237,953 $ 140,756,170
Time charter revenues 6,475,768 5,197,542 12,899,240 11,439,457
Other revenues, net 371,292 185,476 1,124,176 596,282
Total revenues 144,698,462 75,968,187 256,261,369 152,791,909
Expenses        
Voyage expenses 1,221,228 1,367,618 1,519,611 2,143,163
Charter hire expenses 12,068,419 5,358,333 22,615,229 10,760,478
Vessel operating expenses 20,977,119 17,554,707 40,819,505 34,622,620
Depreciation and amortization 17,045,919 15,937,420 33,701,236 31,747,198
General and administrative expenses 13,578,648 8,176,031 22,796,785 17,589,170
Total expenses 64,891,333 48,394,109 121,452,366 96,862,629
Other income - related parties 680,950 563,738 1,301,383 1,155,540
Operating income 80,488,079 28,137,816 136,110,386 57,084,820
Other income/(expenses)        
Interest and finance costs (10,314,881) (11,997,163) (20,718,730) (19,955,717)
Interest income 2,030,752 767,211 3,720,972 1,175,489
Unrealized gain on derivatives 1,560,594 3,092,845 4,419,868 5,547,079
Realized gain on derivates 1,928,217 644,195 3,775,981 593,811
Other gain/(loss), net 819,904 (333,439) 925,325 713,703
Total other income/(expenses), net (3,975,414) (7,826,351) (7,876,584) (11,925,635)
Net income $ 76,512,665 $ 20,311,465 $ 128,233,802 $ 45,159,185
Weighted average shares outstanding:        
Basic 40,281,518 40,021,368 40,205,425 39,960,262
Diluted 40,405,417 40,159,117 40,388,380 40,142,493
Earnings per common share - basic $ 1.90 $ 0.51 $ 3.19 $ 1.13
Earnings per common share - diluted $ 1.89 $ 0.51 $ 3.18 $ 1.12