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Cash, cash equivalents, and Restricted cash
 6 Months Ended
Jun. 30, 2020
Cash and Cash Equivalents [Abstract]  
Cash, cash equivalents, and Restricted cash Cash, cash equivalents, and Restricted cashThe following table provides a reconciliation of Cash and cash equivalents and Restricted cash reported within the consolidated balance sheets that sum to the total of the amounts shown in the condensed consolidated statements of cash flows:
June 30, 2020December 31, 2019June 30, 2019December 31, 2018
Cash and cash equivalents$98,532,141  $53,583,898  $38,598,904  $67,209,753  
Restricted cash - current—  5,471,470  —  —  
Restricted cash - noncurrent74,917  74,917  26,863,979  10,953,885  
Total cash, cash equivalents and restricted cash shown in the condensed consolidated statements of cash flows$98,607,058  $59,130,285  $65,462,883  $78,163,638  

Amounts included in restricted cash represent the letter of credit on our office leases and the cash required to be set aside by the Norwegian Bond Debt, as defined in Note 4 above. The restriction lapsed when the funds were used for the purchase of one Ultramax vessel or the installation of scrubbers.