Consolidated Balance Sheets - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 56,251,044	$ 76,516,110
Accounts receivable	17,246,540	5,089,708
Prepaid expenses	3,010,766	3,093,962
Short-term investment	4,500,000	0
Inventories	14,113,079	10,876,713
Vessel held for sale	9,316,095	8,688,601
Other current assets	785,027	22
Total current assets	105,222,551	104,265,116
Noncurrent assets:
Vessels and vessel improvements, at cost, net of accumulated depreciation of $99,910,416 and $76,463,743, respectively	690,236,419	567,592,950
Advance for vessel purchase	2,201,773	1,926,886
Other fixed assets, net of accumulated amortization of $343,799 and $307,880, respectively	617,343	632,805
Restricted cash	74,917	74,917
Deferred financing costs - Super Senior Revolver Facility	190,000	0
Deferred drydock costs, net	9,749,751	11,507,309
Other assets	57,181	381,634
Total noncurrent assets	703,127,384	582,116,501
Total assets	808,349,935	686,381,617
Current liabilities:
Accounts payable	7,470,844	7,135,156
Accrued interest	1,790,315	28,872
Other accrued liabilities	11,810,366	11,545,447
Fair value of derivatives	73,170	0
Fair value below contract value of time charters acquired	0	820,313
Unearned charter hire revenue	5,678,673	6,046,032
Current portion of long-term debt - Norwegian Bond Debt	4,000,000	0
Total current liabilities	30,823,368	25,575,820
Noncurrent liabilities:
Debt, net of debt discount and debt issuance costs	313,683,676	255,943,544
Other liabilities	177,846	483,132
Fair value below contract value of time charters acquired	2,500,012	3,896,482
Total noncurrent liabilities	316,361,534	260,323,158
Total liabilities	347,184,902	285,898,978
Commitment and contingencies
Stockholders' equity:
Preferred stock, $.01 par value, 25,000,000 shares authorized, none issued as of December 31, 2017 and 2016	0	0
Common stock, $.01 par value, 700,000,000 shares authorized, 70,394,307 and 48,106,827 shares issued and outstanding as of December 31, 2017 and 2016, respectively	703,944	481,069
Additional paid-in capital	887,625,902	783,369,698
Accumulated deficit	(427,164,813)	(383,368,128)
Total stockholders' equity	461,165,033	400,482,639
Total liabilities and stockholders' equity	808,349,935	686,381,617
First Lien Facility
Noncurrent liabilities:
Debt, net of debt discount and debt issuance costs	0	204,352,318
Second Lien Facility
Noncurrent liabilities:
Debt, net of debt discount and debt issuance costs	0	51,591,226
Norwegian Bond Debt
Noncurrent liabilities:
Debt, net of debt discount and debt issuance costs	189,950,329	0
New First Lien Facility
Noncurrent liabilities:
Debt, net of debt discount and debt issuance costs	63,758,185	0
Ultraco Debt Facility
Noncurrent liabilities:
Debt, net of debt discount and debt issuance costs	$ 59,975,162	$ 0