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Unaudited Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2024
Mar. 31, 2024
Current assets    
Cash and cash equivalents $ 353,286,506 $ 282,507,971
Trade receivables, net and accrued revenues 728,063 659,567
Due from related parties 79,242,331 52,352,942
Inventories 2,375,025 2,393,379
Available-for-sale debt securities 11,624,497 11,530,939
Derivative instruments 3,872,696 5,139,056
Prepaid expenses and other current assets 14,417,578 14,297,917
Total current assets 465,546,696 368,881,771
Fixed assets    
Vessels, net 1,193,276,988 1,208,588,213
Vessel under construction 24,589,655 23,829,678
Total fixed assets 1,217,866,643 1,232,417,891
Other non-current assets    
Deferred charges, net 11,633,800 12,544,098
Derivative instruments 4,989,886 4,145,153
Due from related parties-non-current 25,300,000 25,300,000
Restricted cash - non-current 75,319 75,798
Operating lease right-of-use assets 183,794,058 191,700,338
Other non-current assets 2,584,495 2,585,116
Total assets 1,911,790,897 1,837,650,165
Current liabilities    
Trade accounts payable 7,993,668 10,185,962
Accrued expenses 4,537,580 3,948,420
Due to related parties 7,266 7,283
Deferred income 556,427 486,868
Current portion of long-term operating lease liabilities 33,075,348 32,491,122
Current portion of long-term debt 53,654,384 53,543,315
Dividends payable 1,406,175 1,149,665
Total current liabilities 101,230,848 101,812,635
Long-term liabilities    
Long-term debt-net of current portion and deferred financing fees 538,411,109 551,549,215
Long-term operating lease liabilities 150,735,999 159,226,326
Other long-term liabilities 1,548,006 1,528,906
Total long-term liabilities 690,695,114 712,304,447
Total liabilities 791,925,962 814,117,082
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, 53,995,027 and 51,995,027 shares issued, 42,619,448 and 40,619,448 shares outstanding (net of treasury stock), as of June 30, 2024 and March 31, 2024, respectively 539,950 519,950
Additional paid-in-capital 858,357,646 772,714,486
Treasury stock, at cost; 11,375,579 and 11,375,579 shares as of June 30, 2024 and March 31, 2024, respectively (126,837,239) (126,837,239)
Retained earnings 387,804,578 377,135,886
Total shareholders' equity 1,119,864,935 1,023,533,083
Total liabilities and shareholders' equity $ 1,911,790,897 $ 1,837,650,165