Vessels, net/ Advances for vessel acquisitions (Tables)

6 Months Ended

Jun. 30, 2021

Vessels, net/ Advances for vessel acquisitions [Abstract]

Vessels, Net

The amounts in the accompanying unaudited interim consolidated balance sheets are analyzed as follows:

	Vessel Cost		Accumulated depreciation			Net Book Value
Balance December 31, 2020		60,906,094		(2,860,466	)		58,045,628
— Acquisitions, improvements and other vessel costs		213,027,388		—			213,027,388
— Transfers from Advances for vessel acquisitions		33,130,851		—			33,130,851
— Period depreciation		—		(3,686,920	)		(3,686,920	)
Balance June 30, 2021		307,064,333		(6,547,386	)		300,516,947

Advances for Vessels acquisitions

The amounts in the accompanying unaudited interim consolidated balance sheets are analyzed as follows:

	Vessel Cost
Balance December 31, 2020	$	—
— Advances for vessel acquisitions and other vessel pre-delivery costs		42,373,858
—Transfer to Vessels, net (a)		(33,130,851	)
Balance June 30, 2021	$	9,243,007