XML 15 R4.htm IDEA: XBRL DOCUMENT v3.8.0.1
Condensed Consolidated Statements of Operations - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Income Statement [Abstract]        
Revenues, net $ 62,710,903 $ 35,788,181 $ 162,197,184 $ 82,656,903
Voyage expenses 17,462,699 11,207,959 44,195,710 27,902,155
Vessel expenses 20,110,123 17,707,959 57,374,444 56,783,181
Charter hire expenses 9,652,468 3,822,456 19,971,380 6,979,213
Depreciation and amortization 8,980,992 9,854,228 24,494,397 28,905,058
General and administrative expenses 8,620,938 5,223,782 24,989,738 15,429,844
Refinancing expenses 0 (4,625) 0 5,869,025
Loss / (gain) on sale of vessels (202,487) (299,350) (2,100,386) 101,860
Vessel impairment 0 0 0 6,167,262
Total operating expenses 64,624,733 47,512,409 168,925,283 148,137,598
Operating loss (1,913,830) (11,724,228) (6,728,099) (65,480,695)
Interest expense 7,836,999 7,434,156 21,140,746 15,154,659
Interest income (142,940) (88,094) (518,379) (91,606)
Other (income) / expense 647,457 288,754 (138,206) 589,539
Total other expense, net 8,341,516 7,634,816 20,484,161 15,652,592
Net loss $ (10,255,346) $ (19,359,044) $ (27,212,260) $ (81,133,287)
Weighted average shares outstanding:        
Basic (in shares) 70,329,252 29,607,639 68,782,517 11,318,249
Diluted (in shares) 70,329,252 29,607,639 68,782,517 11,318,249
Per share amounts:        
Basic net loss (in dollars per share) $ (0.15) $ (0.65) $ (0.40) $ (7.17)
Diluted net loss (in dollars per share) $ (0.15) $ (0.65) $ (0.40) $ (7.17)