v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
 3 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net income $ 138,285,022 $ 10,082,101
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 17,649,067 18,379,147
Non-cash lease expense 11,853,276 8,490,242
Amortization of financing costs 554,119 295,249
Unrealized (gain)/loss on derivatives (932,965) 1,183,841
Stock-based compensation expense 2,020,619 1,757,879
Gain on disposal of vessel (30,116,869)  
Unrealized foreign currency loss/(gain), net 66,256 (241,006)
Other non-cash items, net (188,889) 21,610
Changes in operating assets and liabilities    
Trade receivables, inventories, prepaid expenses, and other current and non-current assets (3,022,035) (1,574,245)
Due from related parties (90,004,070) (26,671,741)
Operating lease liabilities - current and long-term (11,855,467) (8,491,076)
Trade accounts payable 1,676,839 1,147,369
Accrued expenses and other liabilities (5,527,600) 356,959
Due to related parties 557,995 238,204
Payments for drydocking costs (543,447) (4,160,059)
Net cash provided by operating activities 30,471,851 814,474
Cash flows from investing activities:    
Payments for vessels under construction and other capital expenditures for vessels (181,515) (3,056,789)
Proceeds from disposal of vessels 80,730,111  
Net cash provided by/(used in) investing activities 80,548,596 (3,056,789)
Cash flows from financing activities:    
Repayment of long-term debt borrowings (53,404,854) (13,965,616)
Repurchase of common shares   (1,822,780)
Financing costs paid (276,692)  
Dividends paid (42,549,955) (21,211,264)
Net cash used in financing activities (96,231,501) (36,999,660)
Effects of exchange rates on cash and cash equivalents (56,996) 291,277
Net increase/(decrease) in cash, cash equivalents, and restricted cash 14,731,950 (38,950,698)
Cash, cash equivalents, and restricted cash at the beginning of the period 327,488,955 316,953,612
Cash, cash equivalents, and restricted cash at the end of the period 342,220,905 278,002,914
Supplemental disclosure of cash flow information    
Cash paid for interest, net of amounts capitalized 6,664,825 7,565,280
Cash paid for operating lease liabilities 13,887,460 10,735,854
Right of use assets recognized 1,826,320  
Unpaid lease liability upon initial recognition 1,826,320  
Capitalized drydocking costs included in liabilities 9,366 5,005,670
Vessel-related capital expenditures included in liabilities 187,303 620,893
Unpaid dividends included in liabilities 933,092 1,027,746
Financing costs included in liabilities 534,600 663,600
Reconciliation of cash and cash equivalents and restricted cash reported within the consolidated balance sheets to the total amount of such items reported in the statements of cash flows:    
Cash and cash equivalents 342,141,482 277,921,450
Restricted cash-non-current 79,423 81,464
Cash and cash equivalents and restricted cash at end of period shown in the statement of cash flows $ 342,220,905 $ 278,002,914