Condensed Consolidated Statements of Operations (Unaudited) - USD ($)		3 Months Ended		6 Months Ended
		Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Revenues, net		$ 53,631,224	$ 25,590,434	$ 99,486,281	$ 46,868,722
Voyage expenses		13,379,664	7,450,149	26,733,011	16,694,196
Vessel expenses		19,308,802	18,594,587	37,264,321	39,075,222
Charter hire expenses		6,445,580	1,668,239	10,318,912	3,156,757
Depreciation and amortization		8,020,597	9,654,129	15,513,405	19,050,830
General and administrative expenses		8,589,979	4,874,719	16,368,800	10,206,062
Refinancing expenses			239,390		5,873,650
Loss / (gain) on sale of vessels		(1,805,785)	401,210	(1,897,899)	401,210
Impairment of Vessels					6,167,262
Total operating expenses		53,938,837	42,882,423	104,300,550	100,625,189
Operating loss		(307,613)	(17,291,989)	(4,814,269)	(53,756,467)
Interest expense		6,858,716	4,902,857	13,303,747	7,720,503
Interest income		(185,641)	(58)	(375,439)	(3,512)
Other (income) / expense		(1,092,222)	300,785	(785,663)	300,785
Total other expense, net		5,580,853	5,203,584	12,142,645	8,017,776
Net loss		$ (5,888,466)	$ (22,495,573)	$ (16,956,914)	$ (61,774,243)
Weighted average shares outstanding:
Basic (in shares)		70,329,050	2,254,665	67,996,330	2,073,068
Diluted (in shares)		70,329,050	2,254,665	67,996,330	2,073,068
Per share amounts:
Basic net loss (in dollars per share)	[1]	$ (0.08)	$ (9.98)	$ (0.25)	$ (29.80)
Diluted net loss (in dollars per share)	[1]	$ (0.08)	$ (9.98)	$ (0.25)	$ (29.80)

[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.