Condensed Consolidated Balance Sheets - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 64,323,168	$ 76,516,110
Accounts receivable	10,158,386	5,089,708
Prepaid expenses	2,121,327	3,093,962
Inventories	12,602,371	10,876,713
Vessels held for sale	16,915,287	8,688,601
Other current assets	1,376,331	22
Total current assets	107,496,870	104,265,116
Noncurrent assets:
Vessels and vessel improvements, at cost, net of accumulated depreciation of $92,052,541 and $76,463,743, respectively	697,713,444	567,592,950
Advances for vessels purchase	0	1,926,886
Other fixed assets, net of accumulated amortization of $457,748 and $307,880, respectively	664,476	632,805
Restricted cash	74,917	74,917
Deferred drydock costs, net	11,221,641	11,507,309
Other assets	1,077,386	381,634
Total noncurrent assets	710,751,864	582,116,501
Total assets	818,248,734	686,381,617
Current liabilities:
Accounts payable	7,233,012	7,135,156
Accrued interest	40,450	28,872
Other accrued liabilities	10,162,883	11,545,447
Fair value of derivatives	281,266	0
Fair value below contract value of time charters acquired	0	820,313
Unearned charter hire revenue	7,573,856	6,046,032
Total current liabilities	25,291,467	25,575,820
Noncurrent liabilities:
Total debt	313,758,561	255,943,544
Other liabilities	228,877	483,132
Fair value below contract value of time charters acquired	2,670,487	3,896,482
Total noncurrent liabilities	316,657,925	260,323,158
Total liabilities	341,949,392	285,898,978
Commitments and contingencies
Stockholders' equity:
Preferred stock, $0.01 par value, 25,000,000 shares authorized, none issued as of September 30, 2017 and December 31, 2016, respectively	0	0
Common stock, $0.01 par value, 700,000,000 shares authorized, 70,330,144 and 48,106,827 shares issued and outstanding as of September 30, 2017 and December 31, 2016, respectively	703,302	481,069
Additional paid-in capital	886,176,428	783,369,698
Accumulated deficit	(410,580,388)	(383,368,128)
Total stockholders’ equity	476,299,342	400,482,639
Total liabilities and stockholders’ equity	818,248,734	686,381,617
First Lien Facility
Noncurrent liabilities:
Total debt	191,433,141	204,352,318
Second Lien Facility
Noncurrent liabilities:
Total debt	62,540,745	51,591,226
Ultraco Debt Facility
Noncurrent liabilities:
Total debt	$ 59,784,675	$ 0