Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Term Loan [Member]
Cash flows from financing activities:
Repayment of loan	$ (21,276,000)	$ (15,718,750)
Revolver Loan [Member]
Cash flows from financing activities:
Repayment of loan	(30,158,500)
Net loss	(81,133,287)	(68,551,984)
Depreciation	26,573,461	30,783,330
Amortization of deferred drydocking costs	2,331,597	1,956,344
Amortization of debt discount and debt issuance costs	3,092,193	1,784,062
Amortization of fair value below contract value of time charter acquired	(456,175)	(1,240,609)
Payment-in-kind interest on Second Lien Facility	4,782,863
Loss on sale of vessels	101,860	5,696,675
Impairment of vessels	6,167,262
Realized loss from investment		112,589
Non-cash compensation expense	933,550	2,998,382
Drydocking expenditures	(3,715,179)	(9,680,582)
Accounts receivable	622,722	3,637,163
Other assets	148,227	4,468,668
Prepaid expenses	594,856	1,657,211
Inventories	(1,421,413)	(798,193)
Unrealized loss on derivatives	15,150
Accounts payable	(1,757,451)	(3,298,897)
Accrued interest	(401,232)	(189,502)
Other accrued liabilities	160,755	1,021,773
Unearned chartered hire revenue	3,267,481	(165,864)
Net cash used in operating activities	(40,092,760)	(29,809,434)
Vessels and vessel improvements	(199,675)	(1,508,778)
Purchase of other fixed assets	(456,125)	(11,201)
Proceeds from sale of vessels	13,001,000	4,235,542
Restricted cash	66,244
Proceeds from sale of investment		6,906,190
Net cash provided by investing activities	12,411,444	9,621,753
Proceeds from Second Lien Facility	60,000,000
Proceeds from Revolver Loan Facility under First Lien Facility	10,158,500	23,000,000
Proceeds from common stock placement	85,700,535
Deferred financing costs	(2,467,647)
Financing cost paid to lender	(600,000)	(500,000)
Cash used to settle net share equity awards	(2,938)	(1,285,506)
Net cash provided by financing activities	101,353,950	5,495,744
Net increase /(decrease) in cash and cash equivalents	73,672,634	(14,691,937)
Cash and cash equivalents at beginning of period	24,896,161	39,975,287
Cash and cash equivalents at end of period	$ 98,568,795	$ 25,283,350