Vessels, net/ Advances for vessel acquisition/ Vessel held for sale (Tables)

6 Months Ended

Jun. 30, 2022

Vessels, net/ Advances for vessel acquisition/ Vessel held for sale [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, 2021		410,054,143			(16,088,214	)		393,965,929
— Acquisitions, improvements, and other vessel costs		21,619,754			—			21,619,754
— Transfers from Advances for vessel acquisition (b)		2,368,165			—			2,368,165
— Transfer to Vessel held for sale (c)		(10,018,583	)		599,930			(9,418,653	)
— Period depreciation		—			(11,294,074	)		(11,294,074	)
Balance June 30, 2022		424,023,479			(26,782,358	)		397,241,121

Advances for Vessels acquisitions

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

	Vessel Cost
Balance December 31, 2021	$	2,368,165
—Transfer to Vessels, net (a)		(2,368,165	)
Balance June 30, 2022	$	—