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Condensed Consolidated Statements of Cash Flows
3 Months Ended
Jun. 30, 2025
USD ($)
Jun. 30, 2024
USD ($)
Cash flows from operating activities:    
Net income $ 10,082,101 $ 51,288,140
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 18,379,147 17,170,986
Non-cash lease expense 8,490,242 7,901,447
Amortization of financing costs 295,249 317,511
Unrealized loss on derivatives 1,183,841 421,627
Stock-based compensation expense 1,757,879 1,275,459
Unrealized foreign currency (gain)/loss, net (241,006) 12,181
Other non-cash items, net 21,610 (356,408)
Changes in operating assets and liabilities    
Trade receivables, inventories, prepaid expenses, and other current and non-current assets (1,574,245) 188,315
Due from related parties (26,671,741) (26,889,389)
Operating lease liabilities - current and long-term (8,491,076) (7,901,255)
Trade accounts payable 1,147,369 (1,471,968)
Accrued expenses and other liabilities 356,959 524,776
Due to related parties 238,204 (17)
Payments for drydocking costs (4,160,059) (1,256,621)
Net cash provided by operating activities 814,474 41,224,784
Cash flows from investing activities:    
Payments for vessels under construction and other capital expenditures for vessels (3,056,789) (1,251,982)
Net cash used in investing activities (3,056,789) (1,251,982)
Cash flows from financing activities:    
Repayment of long-term debt borrowings (13,965,616) (13,344,548)
Repurchase of common stock (1,822,780)  
Dividends paid (21,211,264) (40,362,938)
Proceeds from common share issuances   89,000,000
Equity offering costs paid   (4,462,214)
Net cash provided by/(used in) financing activities (36,999,660) 30,830,300
Effects of exchange rates on cash and cash equivalents 291,277 (25,046)
Net increase/(decrease) in cash, cash equivalents, and restricted cash (38,950,698) 70,778,056
Cash, cash equivalents, and restricted cash at the beginning of the period 316,953,612 282,583,769
Cash, cash equivalents, and restricted cash at the end of the period 278,002,914 353,361,825
Supplemental disclosure of cash flow information    
Cash paid for interest, net of amounts capitalized 7,565,280 8,920,873
Cash paid for operating leases 10,735,854 10,627,185
Capitalized drydocking costs included in liabilities 5,005,670 206,717
Vessel-related capital expenditures included in liabilities 620,893 1,201,213
Unpaid dividends included in liabilities 1,027,746 1,406,175
Financing costs included in liabilities 663,600 663,600
Equity offering costs included in liabilities   150,085
Reconcilliation of cash and cash equivalents and restricted cash reported within the consolidated balance sheets to the total amount of such items reported in the statements of cash flows:    
Cash and cash equivalents 277,921,450 353,286,506
Restricted cash - non-current 81,464 75,319
Cash and cash equivalents and restricted cash at end of period shown in the statement of cash flows $ 278,002,914 $ 353,361,825