Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)		Sep. 30, 2016	Dec. 31, 2015
First Lien Facility [Member]
Noncurrent liabilities:
First Lien Facility, net of debt discount and debt issuance costs		$ 198,914,435	$ 225,577,491
Second Lien Facility [Member]
Noncurrent liabilities:
First Lien Facility, net of debt discount and debt issuance costs		43,280,278
Cash and cash equivalents		98,568,795	24,896,161
Accounts receivable		6,453,806	7,076,528
Prepaid expenses		2,637,907	3,232,763
Inventories		6,995,819	5,574,406
Other assets		151,925	245,569
Total current assets		114,808,252	41,025,427
Vessels and vessel improvements, at cost, net of accumulated depreciation of $69,972,688 and $49,148,080, respectively		688,421,196	733,960,731
Other fixed assets, net of accumulated depreciation of $264,201 and $159,827, respectively		572,261	220,509
Restricted cash		74,917	141,161
Deferred drydock costs		12,529,591	11,146,009
Other assets		54,705	109,287
Total noncurrent assets		701,652,670	745,577,697
Total assets		816,460,922	786,603,124
Accounts payable		6,459,022	8,216,473
Accrued interest			401,232
Other accrued liabilities		10,893,665	10,827,075
Fair value below contract value of time charters acquired		820,313	1,283,926
Unearned charter hire revenue		4,827,883	1,560,402
Fair value of derivative instruments		15,150
Current portion of long-term debt			15,625,000
Total current liabilities		23,016,033	37,914,108
Payment-in-kind interest on Second Lien Facility		4,782,863
Fair value below contract value of time charters acquired		4,101,560	4,094,122
Other liabilities		767,106	672,941
Total noncurrent liabilities		251,846,242	230,344,554
Total liabilities		274,862,275	268,258,662
Commitments and contingencies
Stockholders' equity:
Common stock, $.01 par value, 700,000,000 shares authorized, 48,106,827 and 1,883,303 shares issued and outstanding, respectively*	[1]	481,069	18,833
Additional paid-in capital*	[1]	782,096,558	678,171,322
Accumulated deficit		(240,978,980)	(159,845,693)
Total stockholders' equity		541,598,647	518,344,462
Total liabilities and stockholders' equity		$ 816,460,922	$ 786,603,124

[1] Adjusted to give effect for the 1 for 20 reverse stock split that became effective as of the opening of trading on August 5, 2016, see Note 1.