Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2022

Long-Term Debt [Abstract]

Long-Term Debt

The amount of long-term debt shown in the accompanying consolidated balance sheet of December 31, 2022, is analyzed as follows:

		Year Ended
Loan facilities	Borrowers	December 31, 2021			December 31, 2022
$11.0 Million Term Loan Facility (a)	Spetses- Pikachu	$	7,800,000		$	6,200,000
$4.5 Million Term Loan Facility (b)	Bistro		3,450,000			2,850,000
$15.29 Million Term Loan Facility (c)	Pocahontas- Jumaru		13,877,000			11,993,000
$18.0 Million Term Loan Facility (d)	Rocket- Gamora		16,300,000			13,250,000
$40.75 Million Term Loan Facility (e)	Liono-Snoopy-Cinderella-Luffy		39,596,000			34,980,000
$23.15 Million Term Loan Facility (f)	Bagheera-Garfield		22,738,500			17,800,500
$55.00 Million Term Loan Facility (g)	Mulan- Johnny Bravo-Songoku-Asterix-Stewie		—			44,395,000
$22.5 Million Term Loan Facility (h)	Tom-Jerry		—			22,250,000
Total long-term debt		$	103,761,500		$	153,718,500
Less: Deferred financing costs			(1,720,101	)		(1,877,264	)
Total long-term debt, net of deferred finance costs		$	102,041,399			151,841,236
Presented:
Current portion of long-term debt		$	16,688,000		$	32,548,400
Less: Current portion of deferred finance costs			(596,277	)		(771,283	)
Current portion of long-term debt, net of deferred finance costs		$	16,091,723		$	31,777,117
Non-Current portion of long-term debt			87,073,500			121,170,100
Less: Non-Current portion of deferred finance costs			(1,123,824	)		(1,105,981	)
Non-Current portion of long-term debt, net of deferred finance costs		$	85,949,676		$	120,064,119

Annual Principal Payments

The annual principal payments for the Company’s outstanding debt arrangements as of December 31, 2022, required to be made after the balance sheet date, are as follows:

Year ending December 31,	Amount
2023	$	32,548,400
2024		27,204,400
2025		33,915,400
2026		40,140,300
2027		19,910,000
Total long-term debt	$	153,718,500