XML 18 R2.htm IDEA: XBRL DOCUMENT v3.3.1.900
Consolidated Balance Sheets - USD ($)
Dec. 31, 2015
Dec. 31, 2014
Successor [Member]    
Current assets:    
Cash and cash equivalents $ 24,896,161 $ 39,975,287
Accounts receivable 7,076,528 14,731,301
Prepaid expenses 3,232,763 3,212,930
Inventories $ 5,574,406 5,749,273
Investment 8,300,740
Other assets $ 245,569 4,621,312
Total current assets 41,025,427 76,590,843
Noncurrent assets:    
Vessels and vessel improvements, at cost, net of accumulated depreciation of $49,148,080 and $8,766,830, respectively 733,960,731 834,052,684
Other fixed assets, net of accumulated amortization of $159,827 and $118,232, respectively 220,509 230,805
Restricted cash 141,161 66,243
Deferred drydock costs 11,146,009 1,960,792
Deferred financing costs 435,816 550,753
Other assets 109,287 424,702
Total noncurrent assets 746,013,513 837,285,979
Total assets 787,038,940 913,876,822
Current liabilities:    
Accounts payable 8,216,473 11,663,697
Accrued interest 401,232 531,918
Other accrued liabilities 10,827,075 9,142,229
Fair value below contract value of time charters acquired 1,283,926 1,648,740
Unearned charter hire revenue 1,560,402 2,389,595
Current portion of long-term debt 15,625,000 15,625,000
Total current liabilities 37,914,108 41,001,179
Noncurrent liabilities:    
Long-term debt 226,013,307 $ 204,106,928
Other liabilities 672,941
Fair value below contract value of time charters acquired 4,094,122 $ 4,678,049
Total noncurrent liabilities 230,780,370 208,784,977
Total liabilities 268,694,478 249,786,156
Stockholders' equity:    
Common stock, $.01 par value, 150,000,000 shares authorized, 37,666,059 and 37,504,541 shares issued and outstanding as of December 31, 2015 and 2014, respectively 376,661 375,045
Additional paid-in capital 677,813,494 675,264,349
Accumulated Deficit (159,845,693) (11,548,728)
Total stockholders' equity 518,344,462 664,090,666
Total liabilities and stockholders' equity $ 787,038,940 $ 913,876,822
Commitment and contingencies