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Segment Information (Tables)
 6 Months Ended
Jun. 30, 2024
Segment Information [Abstract]  
Information about Company's Reportable Segments

The table below presents information about the Company’s reportable segments as of and for the six months ended June 30, 2023 and 2024. The accounting policies followed in the preparation of the reportable segments are the same as those followed in the preparation of the Company’s unaudited interim condensed consolidated financial statements. Segment results are evaluated based on income from operations.

   
Six months ended June 30,
    
Six months ended June 30,
  
   
2023
    
2024
  
   
Dry bulk
segment
    
Containership
segment
    
Total
    
Dry bulk
segment
    
Containership
segment
    
Total
  
Time charter revenues
  
$
42,979,593
    
$
6,767,488
    
$
49,747,081
    
$
30,244,797
    
$
6,424,979
    
$
36,669,776
  
Total vessel revenues
  
$
42,979,593
    
$
6,767,488
    
$
49,747,081
    
$
30,244,797
    
$
6,424,979
    
$
36,669,776
  
Voyage expenses (including charges from related party)
    
(2,339,460
)
    
(359,080
)
    
(2,698,540
)
    
(1,701,922
)
    
(310,852
)
    
(2,012,774
)
Vessel operating expenses
    
(18,754,397
)
    
(2,922,130
)
    
(21,676,527
)
    
(12,379,672
)
    
(2,277,979
)
    
(14,657,651
)
Management fees to related parties
    
(3,280,975
)
    
(334,850
)
    
(3,615,825
)
    
(2,127,788
)
    
(358,904
)
    
(2,486,692
)
Depreciation and amortization
    
(8,710,367
)
    
(2,591,180
)
    
(11,301,547
)
    
(4,630,403
)
    
(2,757,452
)
    
(7,387,855
)
Gain on sale of vessels
    
3,128,568
      
—
      
3,128,568
      
19,307,595
      
—
      
19,307,595
  
Gain from a claim
     —       —       —       1,411,356       —       1,411,356  
Segments operating income
  
$
13,022,962
    
$
560,248
    
$
13,583,210
    
$
30,123,963
    
$
719,792
    
$
30,843,755
  
Interest and finance costs
                    
(5,812,565
)
                    
(3,580,372
)
Interest income
                    
1,161,934
                      
1,950,245
  
Foreign exchange losses
                    
(66,035
)
                    
(10,599
)
Less: Unallocated corporate general and administrative expenses
                    
(2,805,076
)
                    
(3,387,071
)
Less: Corporate Interest and finance costs
                    
(305,076
)
                    
(424,322
)
Less: Corporate Interest income
                    
277,975
                      
1,376,609
  
Less: Corporate exchange losses
                    
(4,757
)
                    
(75,059
)
Dividend income on equity securities
                    
366,002
                      
2,853,165
  
Dividend income from related party
                    
451,111
                      
707,777
  
(Loss) / Gain on equity securities
                    
(5,104,791
)
                    
15,025,838
  
Net income and comprehensive income from continuing operations, before taxes
                  
$
1,741,932
                    
$
45,279,966
  
Net income and Comprehensive income from discontinued operations, before taxes
                    
17,513,269
                      
—
  
Net income and Comprehensive income, before taxes
                   $
19,255,201
                     $
45,279,966
  
Reconciliation of Total Segment Assets to Total Assets
A reconciliation of total segment assets to total assets presented in the accompanying unaudited interim consolidated balance sheets of December 31, 2023 and June 30, 2024, is as follows:
   
As of
December 31,
2023
    
As of
June 30,
2024
  
Dry bulk segment
  
$
259,759,770
    
$
149,400,998
  
Containership segment
    
46,202,603
      
43,644,662
  
Cash and cash equivalents (1)
    
103,822,505
      
227,613,893
  
Prepaid expenses and other assets (1)
    
195,257,101
      
181,606,358
  
Total consolidated assets
  
$
605,041,979
    
$
602,265,911
  

(1) Refers to assets of other, non-vessel owning, entities included in the unaudited interim condensed consolidated financial statements.