Long-Term Debt (Tables)

6 Months Ended

Jun. 30, 2022

Long-Term Debt [Abstract]

Long-Term Debt Including Related Party Debt

The amount of long-term debt shown in the accompanying unaudited interim consolidated balance sheet of June 30, 2022, is analyzed as follows:

		Year/Period Ended
Loan facilities	Borrowers	December 31, 2021			June 30, 2022
$11.0 Million Term Loan Facility (a)	Spetses- Pikachu	$	7,800,000		$	7,000,000
$4.5 Million Term Loan Facility (b)	Bistro		3,450,000			3,150,000
$15.29 Million Term Loan Facility (c)	Pocahontas- Jumaru		13,877,000			12,935,000
$18.0 Million Term Loan Facility (d)	Rocket- Gamora		16,300,000			14,600,000
$40.75 Million Term Loan Facility (e)	Liono-Snoopy-Cinderella-Luffy		39,596,000			37,288,000
$23.15 Million Term Loan Facility (f)	Bagheera-Garfield		22,738,500			20,269,500
$55.00 Million Term Loan Facility (g)	Mulan- Johnny Bravo-Songoku-Asterix-Stewie		—			51,465,000
Total long-term debt		$	103,761,500		$	146,707,500
Less: Deferred financing costs			(1,720,101	)		(1,984,531	)
Total long-term debt, net of deferred finance costs		$	102,041,399			144,722,969
Presented:
Current portion of long-term debt		$	16,688,000		$	30,250,200
Less: Current portion of deferred finance costs			(596,277	)		(749,865	)
Current portion of long-term debt, net of deferred finance costs		$	16,091,723		$	29,500,335
Non-Current portion of long-term debt			87,073,500			116,457,300
Less: Non-Current portion of deferred finance costs			(1,123,824	)		(1,234,666	)
Non-Current portion of long-term debt, net of deferred finance costs		$	85,949,676		$	115,222,634

Annual Principal Payments

The annual principal payments for the Company’s outstanding debt arrangements as of June 30, 2022, required to be made after the balance sheet date, are as follows:

Twelve-month period ending June 30,	Amount
2023	$	30,250,200
2024		22,389,400
2025		37,527,400
2026		12,180,400
2027		44,360,100
Total long-term debt	$	146,707,500