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Unaudited Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2023
Mar. 31, 2023
Current assets    
Cash and cash equivalents $ 155,548,745 $ 148,797,232
Trade receivables, net and accrued revenues 4,373,141 3,282,256
Due from related parties 67,737,508 73,070,095
Inventories 2,377,543 2,642,395
Prepaid expenses and other current assets 11,425,045 8,507,007
Total current assets 241,461,982 236,298,985
Fixed assets    
Vessels, net 1,250,577,538 1,263,928,605
Other fixed assets, net 48,213 48,213
Total fixed assets 1,250,625,751 1,263,976,818
Other non-current assets    
Deferred charges, net 11,196,123 8,367,301
Derivative instruments 12,137,819 9,278,544
Due from related parties-non-current 24,200,000 20,900,000
Restricted cash - non-current 76,220 76,418
Operating lease right-of-use assets 152,309,717 158,179,398
Available-for-sale securities 11,307,104 11,366,838
Other non-current assets 364,483 469,227
Total assets 1,703,679,199 1,708,913,529
Current liabilities    
Trade accounts payable 11,267,768 10,807,376
Accrued expenses 6,916,466 5,637,725
Due to related parties 242,778 168,793
Deferred income 278,128 208,558
Current portion of long-term operating lease liabilities 23,562,139 23,407,555
Current portion of long-term debt 53,217,116 53,110,676
Dividends payable 1,146,934 1,255,861
Total current liabilities 96,631,329 94,596,544
Long-term liabilities    
Long-term debt-net of current portion and deferred financing fees 591,226,676 604,256,670
Long-term operating lease liabilities 128,760,545 134,782,483
Other long-term liabilities 1,451,940 1,431,510
Total long-term liabilities 721,439,161 740,470,663
Total liabilities 818,070,490 835,067,207
Commitments and contingencies
Shareholders' equity    
Preferred stock, $0.01 par value, 50,000,000 shares authorized, none issued nor outstanding
Common stock, $0.01 par value, 450,000,000 shares authorized, 51,654,343 and 51,630,593 shares issued, 40,392,282 and 40,382,730 shares outstanding (net of treasury stock), as of June 30, 2023 and March 31, 2023, respectively 516,544 516,306
Additional paid-in-capital 765,159,661 764,383,292
Treasury stock, at cost; 11,262,061 and 11,247,863 shares as of June 30, 2023 and March 31, 2023, respectively (123,249,465) (122,896,838)
Retained earnings 243,181,969 231,843,562
Total shareholders' equity 885,608,709 873,846,322
Total liabilities and shareholders' equity $ 1,703,679,199 $ 1,708,913,529