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Consolidated Balance Sheets - USD ($)
Mar. 31, 2024
Mar. 31, 2023
Current assets    
Cash and cash equivalents $ 282,507,971 $ 148,797,232
Trade receivables, net and accrued revenues 659,567 3,282,256
Due from related parties 52,352,942 73,070,095
Inventories 2,393,379 2,642,395
Available-for-sale debt securities 11,530,939  
Derivative instruments 5,139,056  
Prepaid expenses and other current assets 14,297,917 8,507,007
Total current assets 368,881,771 236,298,985
Fixed assets    
Vessels, net 1,208,588,213 1,263,928,605
Vessel under construction 23,829,678  
Other fixed assets, net   48,213
Total fixed assets 1,232,417,891 1,263,976,818
Other non-current assets    
Deferred charges, net 12,544,098 8,367,301
Derivative instruments 4,145,153 9,278,544
Due from related parties-non-current 25,300,000 20,900,000
Restricted cash - non-current 75,798 76,418
Operating lease right-of-use assets 191,700,338 158,179,398
Available-for-sale securities   11,366,838
Other non-current assets 2,585,116 469,227
Total assets 1,837,650,165 1,708,913,529
Current liabilities    
Trade accounts payable 10,185,962 10,807,376
Accrued expenses 3,948,420 5,637,725
Due to related parties 7,283 168,793
Deferred income 486,868 208,558
Current portion of long-term operating lease liabilities 32,491,122 23,407,555
Current portion of long-term debt 53,543,315 53,110,676
Dividends payable 1,149,665 1,255,861
Total current liabilities 101,812,635 94,596,544
Long-term liabilities    
Long-term debt-net of current portion and deferred financing fees 551,549,215 604,256,670
Long-term operating lease liabilities 159,226,326 134,782,483
Other long-term liabilities 1,528,906 1,431,510
Total long-term liabilities 712,304,447 740,470,663
Total liabilities 814,117,082 835,067,207
Shareholders' equity    
Common stock, $0.01 par value, 450,000,000 shares authorized, 51,955,027 and 51,630,593 shares issued, 40,619,448 and 40,382,730 shares outstanding (net of treasury stock), as of March 31, 2024 and March 31, 2023, respectively 519,950 516,306
Additional paid-in-capital 772,714,486 764,383,292
Treasury stock, at cost; 11,375,579 and 11,247,863 shares as of March 31, 2024 and March 31, 2023, respectively (126,837,239) (122,896,838)
Retained earnings 377,135,886 231,843,562
Total shareholders' equity 1,023,533,083 873,846,322
Total liabilities and shareholders' equity $ 1,837,650,165 $ 1,708,913,529