7Baggers
Quarterly
Annual
    Unit: USD2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2020-03-31 2019-12-31 2019-09-30 2018-12-31 2017-12-31 2016-03-31 2012-03-31 2011-12-31 2011-09-30 2011-06-30 2011-03-31 2010-12-31 2010-09-30 2010-06-30 2010-03-31 2009-12-31 2009-09-30 2009-06-30 2008-09-30 2008-06-30 2008-03-31 2007-12-31 2007-09-30 2007-06-30 2006-12-31 
      
    		                                        
      assets
    		                                        
      current assets:
    		                                        
      cash and cash equivalents
    		118,615,000 113,879,000 115,703,000 153,237,000 187,155,000 195,030,000 138,955,000 83,602,000 86,146,552 100,011,694 79,278,151 76,191,832 69,927,594 83,408,816 98,532,141 69,229,926 53,583,898 71,537,108 67,209,753 56,251,044 16,768,574 28,067,016 25,075,203 27,273,994 51,131,064 97,715,331 129,121,680 129,137,297 102,134,080 84,153,391  82,544,467 129,259,673 32,984,370       
      accounts receivable, net of a reserve of 2,916 and 3,169, respectively
    		30,917,000                                        
      prepaid expenses
    		5,525,000 5,832,000 6,533,000 6,507,000 4,531,000 4,585,000 4,524,000 5,278,000 3,361,730 4,638,401 4,294,715 3,491,076 3,182,815 2,724,668 3,416,652 4,019,234 4,631,416 3,463,919 4,635,879 3,010,766 2,633,930 3,404,559 3,969,905 3,658,581 2,528,144 5,025,093 3,459,721 4,903,663 3,552,789 3,240,664  5,348,972 3,509,698 3,567,676 2,119,223 1,299,813 1,158,113 1,618,699 996,243 1,020,821 
      inventories
    		24,988,000 26,881,000 21,695,000 22,913,000 28,081,000 26,274,000 25,193,000 27,771,000 17,651,381 17,091,901 15,899,222 14,720,800 11,624,833 11,693,931 10,104,762 15,360,834 15,824,278 14,283,915 16,137,785 14,113,079 5,596,345 11,617,193 11,083,331 8,277,696 8,529,107 5,342,449 3,190,052 884,234             
      collateral on derivatives
    		2,219,000 4,380,000 676,000 3,482,000 909,000 1,200,000 16,770,000 21,307,000 15,080,567 31,369,664 33,499,170                              
      fair value of derivative assets – current
    		6,824,000 8,653,000 9,814,000 7,734,000                                     
      other current assets
    		458,000 652,000 440,000 671,000 558,000 703,000 929,000 797,000 667,677 1,689,972 1,478,163 7,959,698 839,881    1,039,430 2,943,058 2,246,740 785,027                     
      total current assets
    		189,546,000 184,871,000 194,309,000 224,263,000 262,024,000 279,699,000 244,370,000 185,189,000 156,032,816 204,603,121 167,776,917 127,274,922 118,264,780 124,678,681 140,399,966 124,436,541 100,533,363 112,175,955 118,474,183 105,222,551 32,207,541 57,748,404 55,890,837 62,266,165 80,458,952 126,530,948 150,732,559 146,984,981 116,836,079 96,786,564  93,718,855 140,044,495 40,433,720 69,414,680 153,092,619 157,454,266 159,099,695 26,863,458 27,652,517 
      noncurrent assets:
    		                                        
      vessels and vessel improvements, at cost, net of accumulated depreciation of 301,694 and 261,725, respectively
    		904,298,000                                        
      advances for vessel purchases
    		   6,020,000 3,638,000      5,340,000 4,720,000 3,250,000                            
      operating lease right-of-use assets
    		7,182,000 10,892,000 15,472,000 24,129,000 23,006,000 34,368,000 35,370,000 18,654,000 17,017,429 22,845,697 12,441,041 5,454,129 7,540,871 10,669,431 13,784,567 17,185,019 20,410,037 19,224,517                       
      other fixed assets, net of accumulated depreciation of 1,393 and 1,623, respectively
    		1,086,000                                        
      restricted cash – noncurrent
    		2,575,000 2,575,000 2,575,000 2,618,000                                     
      deferred drydock costs
    		38,717,000 37,756,000 40,469,000 43,268,000 42,849,000 45,881,000 46,930,000 44,985,000 37,093,531 28,343,436 26,504,065 26,975,526 24,153,776 22,699,341 20,406,118 20,772,193 17,495,270 13,502,924 12,186,356 9,749,751 11,928,415 3,126,378 3,303,363 3,319,881 3,757,674 3,511,816 4,217,071 4,050,966 5,087,373 5,281,565  4,805,679      3,838,826 1,962,697  
      fair value of derivative assets – noncurrent
    		3,136,000 5,435,000 6,331,000 6,022,000                                     
      advances for bwts and other assets
    		1,414,000 1,984,000 1,622,000 2,507,000                                     
      total noncurrent assets
    		958,408,000 973,702,000 992,392,000 985,518,000 975,185,000 976,292,000 982,239,000 977,398,000 970,625,608 958,054,140 925,391,448 893,364,936 848,862,276 870,350,073 891,697,114 902,031,486 901,553,773 858,246,523 727,734,977 703,127,384 731,806,530 1,790,412,055 1,811,365,891 1,810,729,386 1,816,068,680 1,774,235,932 1,745,840,399 1,726,055,599 1,695,929,145 1,623,505,041  1,453,373,428 1,377,321,885 1,273,742,743       
      total assets
    		1,147,954,000 1,158,573,000 1,186,701,000 1,209,781,000 1,237,209,000 1,255,991,000 1,226,609,000 1,162,587,000 1,126,658,424 1,162,657,261 1,093,168,365 1,020,639,858 967,127,056 995,028,754 1,032,097,080 1,026,468,027 1,002,087,136 970,422,478 846,209,160 808,349,935 764,014,071 1,848,160,459 1,867,256,728 1,872,995,551 1,896,527,632 1,900,766,880 1,896,572,958 1,873,040,580 1,812,765,224 1,720,291,605 1,608,000 1,547,092,283 1,517,366,380 1,314,176,463 1,208,390,915 1,148,287,285 1,136,008,373 1,075,042,842 726,654,462 568,790,967 
      liabilities & stockholders’ equity
    		                                        
      current liabilities:
    		                                        
      accounts payable
    		21,245,000 20,938,000 22,520,000 19,290,000 20,129,000 21,058,000 22,189,000 23,396,000 20,781,295 15,169,624 18,921,097 17,041,784 10,589,970 13,312,496 15,310,881 10,239,878 13,483,397 9,158,519 14,161,169 7,470,844 11,411,500 10,504,362 10,642,831 9,398,653 8,463,260 9,019,248 6,089,273 2,902,194 2,385,864 5,582,920  1,402,289 2,787,392 332,710 1,774,373 2,145,264 3,621,559 4,129,487 3,132,066 1,650,159 
      accrued interest
    		3,472,000 2,092,000 3,567,000 1,726,000 3,061,000 1,635,000 3,008,000 1,512,000 2,957,241 7,075,532 4,558,933 6,839,690 4,690,135 7,171,472 5,014,786 7,797,292 5,321,089 7,662,674 1,735,631 1,790,315 327,283 2,235,525 2,815,665 4,640,699 4,572,451 5,684,315 6,651,554 6,999,574 8,363,052 7,824,844  7,717,705 6,708,273 4,297,289 4,208,254 3,561,824 455,750 2,993,138 895,442 800,683 
      other accrued liabilities
    		23,496,000 19,198,000 20,920,000 19,566,000 24,097,000 17,012,000 17,766,000 18,815,000 17,993,299 14,660,495 10,601,676 12,174,886 11,747,064 8,549,199 7,693,031 17,346,898 28,996,836 17,535,292 10,064,017 11,810,366 10,798,848 12,725,220 11,822,582 14,560,107 10,546,909 10,655,581 5,850,474 15,457,922 10,831,045 6,440,541  10,473,346 8,154,492 2,919,861 2,846,977 1,816,342 1,863,272 1,796,334 1,366,512 1,717,124 
      fair value of derivative liabilities – current
    		479,000 585,000 8,000 345,000                                     
      current portion of operating lease liabilities
    		6,153,000 10,109,000 14,274,000 21,778,000 22,045,000 30,742,000 29,908,000 15,749,000 15,728,107 21,094,309 10,639,630 5,415,378 7,615,371 10,848,313 12,511,790 13,346,261 13,255,978 11,053,788                       
      unearned charter hire revenue
    		4,312,000 8,201,000 6,002,000 8,492,000 9,670,000 14,794,000 13,609,000 12,746,000 12,087,586 17,045,647 8,402,876 10,142,696 8,072,295 5,989,235 4,880,019 3,232,360 4,692,259 3,156,077 6,926,839 5,678,673 2,144,022 3,593,868 5,779,928   9,386,335 6,091,332 8,331,735 5,970,032 6,821,703  5,754,126 5,678,084 8,293,669 5,941,253 5,028,551 4,322,024 4,671,174 3,450,236 2,713,060 
      current portion of long-term debt – global ultraco debt facility
    		49,800,000 49,800,000                                       
      current portion of long-term debt – convertible bond debt, net of debt discount and debt issuance costs
    		103,890,000 103,791,000                                       
      total current liabilities
    		212,847,000 214,714,000 117,091,000 120,997,000 128,965,000 135,652,000 136,549,000 135,129,000 123,600,683 165,914,895 149,901,345 92,187,577 82,440,923 89,205,200 87,833,815 92,471,542 102,215,182 80,497,172 62,993,199 30,823,368 25,501,966 120,709,769 69,121,710 40,972,102 37,444,007 40,963,037 30,515,717 39,586,476 33,714,224 33,055,266  33,917,517 34,101,392 15,843,529 14,770,857 12,551,981 10,262,605 13,590,133 8,844,256 6,881,026 
      noncurrent liabilities:
    		                                        
      long-term debt – global ultraco debt facility, net of debt discount and debt issuance costs
    		330,113,000 341,881,000 353,618,000 169,154,000                                     
      convertible bond debt, net of debt discount and debt issuance costs
    		  103,693,000 103,595,000 103,499,000 103,425,000 113,253,000 113,150,000 100,953,744 99,813,315 98,736,604 97,685,545 96,660,485 95,660,779 94,685,801 93,730,654 92,803,144 91,924,874                       
      fair value of derivative liabilities – noncurrent
    		1,505,000 444,000                                       
      noncurrent portion of operating lease liabilities
    		2,576,000 2,766,000 2,847,000 3,583,000 3,173,000 3,626,000 5,455,000 2,899,000 1,282,553 1,744,619 2,099,452 577,200 686,422                            
      other noncurrent accrued liabilities
    		695,000 696,000 695,000 743,000 1,208,000 883,000 636,000 395,000 265,365                                
      total noncurrent liabilities
    		334,889,000 345,787,000 460,853,000 277,075,000 289,063,000 301,136,000 324,565,000 333,689,000  389,091,620 417,008,664 447,556,347 414,268,050 459,497,104 487,302,447 456,618,276  398,148,414 303,610,112 316,361,534 258,619,700 1,067,432,495 1,123,959,315 1,161,837,797 1,188,084,766 1,191,502,464 1,196,970,723 1,174,250,267 1,134,949,030 1,060,970,903  903,142,132 876,261,118 789,951,446       
      total liabilities
    		547,736,000 560,501,000 577,944,000 398,072,000 418,028,000 436,788,000 461,114,000 468,818,000  555,006,515 566,910,009 539,743,924 496,708,973 548,702,304 575,136,262 549,089,818  478,645,586 366,603,311 347,184,902 284,121,666 1,188,142,264 1,193,081,025 1,202,809,899 1,225,528,773 1,232,465,501 1,227,486,440 1,213,836,743 1,168,663,254 1,094,026,169 988,474,000 937,059,649 910,362,510 805,794,975 701,482,815 647,433,863 621,037,378 544,581,201 315,913,822 247,215,026 
      assets:
    		                                        
      accounts receivable, net of a reserve of 2,933 and 3,169, respectively
    		 24,594,000                                       
      vessels and vessel improvements, at cost, net of accumulated depreciation of 289,819 and 261,725, respectively
    		 914,108,000                                       
      other fixed assets, net of accumulated depreciation of 1,324 and 1,623, respectively
    		 952,000                                       
      liabilities & stockholders' equity:
    		                                        
      commitments and contingencies
    		                                        
      stockholders' equity:
    		                                        
      preferred stock, 0.01 par value, 25,000,000 shares authorized, none issued as of september 30, 2023 and december 31, 2022
    		                                        
      common stock
    		 93,000 93,000 131,000  130,000 130,000 130,000  128,640 127,533 117,329  102,797 719,579 719,399  714,747 710,555 703,944 450,916 630,033 630,033 626,638 626,430 625,604 625,604 622,347 622,159 621,267       467,271   359,000 
      additional paid-in capital
    		 746,898,000 745,636,000 966,261,000  964,494,000 963,482,000 961,930,000  982,652,311 979,682,504 943,599,631   918,255,834 917,532,791  916,965,046 894,272,533 887,625,902 678,565,852 747,555,194 745,473,169 743,779,073 741,979,292 739,778,027 738,251,158 735,498,772 731,913,790 728,596,252  721,483,816 718,218,555 610,932,876 607,738,367 605,444,933 602,929,530 601,938,926 474,885,199 364,574,877 
      accumulated deficit
    		 -162,418,000 -151,697,000 -168,373,000  -162,712,000 -210,854,000 -278,858,000  -374,722,217 -453,063,487 -462,288,512  -472,252,726 -461,093,440 -440,602,113  -425,902,901 -415,377,239 -427,164,813 -199,124,363                    
      accumulated other comprehensive income
    		 13,499,000 14,725,000 13,690,000  17,291,000 12,737,000 10,567,000                               127,290 2,577,624 
      total stockholders' equity
    		 598,072,000 608,757,000 811,709,000  819,203,000 765,495,000 693,769,000  607,650,746 526,258,356 480,895,934  446,326,450 456,960,818 477,378,209  491,776,892 479,605,849 461,165,033 479,892,405 660,018,195 674,175,703 670,185,652 670,998,859 668,301,379 669,086,518 659,203,837 644,101,970 626,265,436  610,032,634 607,003,870        
      total liabilities and stockholders' equity
    		 1,158,573,000 1,186,701,000 1,209,781,000  1,255,991,000 1,226,609,000 1,162,587,000  1,162,657,261 1,093,168,365 1,020,639,858  995,028,754 1,032,097,080 1,026,468,027  970,422,478 846,209,160 808,349,935 764,014,071 1,848,160,459 1,867,256,728 1,872,995,551 1,896,527,632 1,900,766,880 1,896,572,958 1,873,040,580 1,812,765,224 1,720,291,605  1,547,092,283 1,517,366,380        
      accounts receivable, net of a reserve of 2,965 and 3,169, respectively
    		  28,396,000                                      
      vessel held for sale
    		  11,052,000    5,592,000    4,885,998   5,168,600      9,316,095                     
      vessels and vessel improvements, at cost, net of accumulated depreciation of 277,924 and 261,725, respectively
    		  925,632,000                                      
      other fixed assets, net of accumulated depreciation of 1,706 and 1,623, respectively
    		  291,000                                      
      current portion of long-term debt
    		  49,800,000 49,800,000 49,800,000 49,800,000 49,800,000 49,800,000 49,800,000 42,666,521 41,444,297 39,244,297 39,244,297 39,244,297 39,244,297 37,194,297 35,709,394 31,164,490 29,176,230   86,063,747 32,094,006                  
      preferred stock, 0.01 par value, 25,000,000 shares authorized, none issued as of june 30, 2023 and december 31, 2022
    		                                        
      accounts receivable, net of a reserve of 3,244 and 3,169, respectively
    		   29,719,000                                     
      vessels and vessel improvements, at cost, net of accumulated depreciation of 268,743 and 261,725, respectively
    		   900,659,000                                     
      other fixed assets, net of accumulated depreciation of 1,665 and 1,623, respectively
    		   295,000                                     
      preferred stock, 0.01 par value, 25,000,000 shares authorized, none issued as of march 31, 2023 and december 31, 2022
    		                                        
      accounts receivable, net of a reserve of 3,169 and 1,818, respectively
    		    32,311,000                                    
      fair value of derivative assets - current
    		    8,479,000 18,353,000 8,459,000 5,516,000 4,668,873                                
      vessels and vessel improvements, at cost, net of accumulated depreciation of 261,725 and 218,670, respectively
    		    891,877,000                                    
      other fixed assets, net of accumulated depreciation of 1,623 and 1,403, respectively
    		    310,000                                    
      restricted cash - noncurrent
    		    2,599,000 2,575,000 2,575,000 75,000 75,000 75,000 75,000 75,000 75,000  74,917 74,917 74,917                        
      fair value of derivative assets - noncurrent
    		    8,184,000 9,873,000 7,746,000 8,476,000 3,112,091                                
      advances for ballast water systems and other assets
    		    2,722,000 2,577,000 3,983,000 3,920,000  5,875,314 4,443,281 3,273,076                             
      fair value of derivative liabilities - current
    		    163,000 611,000 269,000 13,111,000 4,253,155                                
      global ultraco debt facility, net of debt issuance costs
    		    181,183,000 193,202,000 205,221,000 217,245,000 229,289,860                                
      accounts receivable, net of a reserve of 2,192 and 1,818, respectively
    		     33,554,000                                   
      vessels and vessel improvements, at cost, net of accumulated depreciation of 249,384 and 218,670, respectively
    		     876,547,000                                   
      advance for vessel purchase
    		     4,125,000    2,200,000         2,040,000 2,201,773                     
      other fixed assets, net of accumulated depreciation of 1,566 and 1,403, respectively
    		     346,000                                   
      preferred stock, 0.01 par value, 25,000,000 shares authorized, none issued as of september 30, 2022 and december 31, 2021
    		                                        
      accounts receivable, net of a reserve of 1,921 and 1,818, respectively
    		      43,948,000                                  
      vessels and vessel improvements, at cost, net of accumulated depreciation of 237,490 and 218,670, respectively
    		      885,255,000                                  
      other fixed assets, net of accumulated depreciation of 1,521 and 1,403, respectively
    		      380,000                                  
      preferred stock, .01 par value, 25,000,000 shares authorized, none issued as of june 30, 2022 and december 31, 2021
    		                                        
      accounts receivable, net of a reserve of 1,837 and 1,818, respectively
    		       40,918,000                                 
      vessels and vessel improvements, at cost, net of accumulated depreciation of 230,318 and 218,670, respectively
    		       900,920,000                                 
      other fixed assets, net of accumulated depreciation of 1,452 and 1,403, respectively
    		       368,000                                 
      liabilities & stockholders' equity
    		                                        
      preferred stock, .01 par value, 25,000,000 shares authorized, none issued as of march 31, 2022 and december 31, 2021
    		                                        
      restricted cash - current
    		         25,557,674 4,446,177 4,446,177 18,846,177 1,872,244  2,917,885 5,471,470                        
      accounts receivable, net of a reserve of 1,818,482 and 2,357,191, respectively
    		        28,456,036                                
      vessels and vessel improvements, at cost, net of accumulated depreciation of 218,669,885 and 177,771,755, respectively
    		        908,075,913                                
      other fixed assets, net of accumulated depreciation of 1,402,584 and 1,137,562, respectively
    		        257,228                                
      advances for scrubbers and ballast water systems and other assets
    		        4,994,416    2,639,491    26,707,700                        
      norwegian bond debt, net of debt discount and debt issuance costs
    		         166,351,589 165,993,915 169,640,129 169,290,230 172,932,556 172,574,882 176,221,096 175,867,310 179,509,565 182,469,155 189,950,329                     
      super senior facility, net of debt issuance costs
    		            14,896,357 14,882,677 14,868,997 2,355,465                         
      new ultraco debt facility, net of debt issuance costs
    		         121,182,097 125,093,090 124,522,090 132,083,949 139,546,175 147,157,424 134,313,009 141,396,770 117,228,245                       
      accounts receivable, net of a reserve of 2,169,958 and 2,357,191, respectively
    		         24,243,815                               
      vessels and vessel improvements, at cost, net of accumulated depreciation of 206,815,553 and 177,771,755, respectively
    		         898,405,068                               
      other fixed assets, net of accumulated depreciation of 1,346,243 and 1,137,562, respectively
    		         309,625                               
      fair value of derivatives - current
    		         24,381,090 31,607,854 1,328,846 481,791                            
      holdco revolving credit facility, net of debt issuance costs
    		         23,821,677 23,724,982                              
      fair value of derivatives - noncurrent
    		          85,603 131,383 650,607                            
      preferred stock, .01 par value, 25,000,000 shares authorized, none issued as of september 30, 2021 and december 31, 2020
    		                                        
      accumulated other comprehensive loss
    		         -407,988 -488,194 -532,514  -1,124,745 -921,155 -271,868      -8,259,017 -9,453,013 -13,444,552 -16,703,567 -18,637,234 -22,135,507 -26,229,604 -29,520,148 -33,026,330  -35,380,969 -34,632,023 -9,517,025 -7,959,530 -20,199,754     
      accounts receivable, net of a reserve of 2,134,000 and 2,357,191, respectively
    		          23,995,321                              
      vessels and vessel improvements, at cost, net of accumulated depreciation of 195,472,078 and 177,771,755, respectively
    		          876,088,651                              
      other fixed assets, net of accumulated depreciation of 1,276,574 and 1,137,562, respectively
    		          363,993                              
      deferred financing costs
    		          99,033 519,033          10,631,288 11,766,779 12,928,468 14,077,665 15,326,031 16,458,496 17,616,127 18,768,770 19,912,857  22,012,037 23,312,392 13,811,706 14,138,345 14,550,824 14,479,024 2,509,504 2,325,858  
      fair value of derivatives asset - noncurrent
    		          36,384 26,185                             
      revolver loan under new ultraco debt facility
    		          25,000,000 55,000,000  35,000,000 55,000,000 45,000,000                         
      preferred stock, .01 par value, 25,000,000 shares authorized, none issued as of june 30, 2021 and december 31, 2020
    		                                        
      accounts receivable, net of a reserve of 2,121,121 and 2,357,191, respectively
    		           20,465,339                             
      vessels and vessel improvements, at cost, net of accumulated depreciation of 188,208,942 and 177,771,755, respectively
    		           851,894,939                             
      other fixed assets, net of accumulated depreciation of 1,207,470 and 1,137,562, respectively
    		           427,048                             
      preferred stock, .01 par value, 25,000,000 shares authorized, none issued as of march 31, 2021 and december 31, 2020
    		                                        
      accounts receivable, net of a reserve of 2,357,191 and 2,472,345, respectively
    		            13,843,480                            
      vessels and vessel improvements, at cost, net of accumulated depreciation of 177,771,755 and 153,029,544, respectively
    		            810,713,959                            
      other fixed assets, net of accumulated depreciation of 1,137,562 and 832,541, respectively
    		            489,179                            
      deferred financing costs - super senior facility
    		                166,111 180,487 285,342                      
      accounts receivable, net of a reserve of 2,325,589 and 2,472,345, respectively
    		             12,998,480                           
      derivative asset and other current assets
    		             6,811,942 9,378,476 14,753,326                         
      vessels and vessel improvements, at cost, net of accumulated depreciation of 177,765,956 and 153,029,544, respectively
    		             833,570,710                           
      other fixed assets, net of accumulated depreciation of 1,067,000 and 832,541, respectively
    		             549,855                           
      advance for scrubbers, ballast water systems and other assets
    		             2,860,736 2,896,962                          
      fair value of derivative instruments - current
    		             4,090,188 3,179,011 3,314,556                         
      fair value of derivative instruments - non current
    		             681,000 573,361 177,008                         
      operating lease liabilities
    		             793,917 2,441,982 4,821,044 8,301,793 9,485,730                       
      preferred stock, .01 par value, 25,000,000 shares authorized, none issued as of september 30, 2020 and december 31, 2019
    		                                        
      additional paid-in capital *
    		             919,601,124                           
      accounts receivable, net of a reserve of 2,699,600 and 2,472,345, respectively
    		              18,967,935                          
      vessels and vessel improvements, at cost, net of accumulated depreciation of 174,169,557 and 153,029,544, respectively
    		              853,916,919                          
      other fixed assets, net of accumulated depreciation of 996,418 and 832,541, respectively
    		              617,631                          
      preferred stock, .01 par value, 25,000,000 shares authorized, none issued as of june 30, 2020 and december 31, 2019
    		                                        
      accounts receivable, net of a reserve of 2,760,679 and 2,472,345, respectively
    		               18,155,336                         
      vessels and vessel improvements, at cost, net of accumulated depreciation of 163,508,323 and 153,029,544, respectively
    		               858,807,828                         
      other fixed assets, net of accumulated depreciation of 920,296 and 832,541, respectively
    		               690,558                         
      advance for scrubbers and ballast water systems and other assets
    		               4,500,971                         
      preferred stock, .01 par value, 25,000,000 shares authorized, none issued as of march 31, 2020 and december 31, 2019
    		                                        
      accounts receivable, net of a reserve of 2,472,345 and 2,073,616, respectively
    		                19,982,871                        
      vessels held for sale
    		                  8,458,444                      
      vessels and vessel improvements, at cost, net of accumulated depreciation of 153,029,544 and 124,907,998, respectively
    		                835,959,084                        
      other fixed assets, net of accumulated depreciation of 832,541 and 547,452, respectively
    		                740,654                        
      fair value of derivatives
    		                756,229 766,332 929,313 73,170                     
      new first lien facility, net of debt discount and debt issuance costs
    		                  48,189,307 63,758,185                     
      original ultraco debt facility, net of debt discount and debt issuance costs
    		                  70,924,885                      
      other liabilities
    		                  208,651 177,846 720,915             15,379,722 12,223,412 31,008,992 13,531,883 3,151,969 4,692,967 359,180 
      accounts receivable, net of a reserve of 1,653,737 and 2,073,616, respectively
    		                 19,947,955                       
      vessels and vessel improvements, at cost, net of accumulated depreciation of 143,671,410 and 124,907,998, respectively
    		                 732,844,665                       
      advance for vessels purchase
    		                 6,040,000                       
      other fixed assets, net of accumulated depreciation of 717,829 and 547,452, respectively
    		                 732,055                       
      restricted cash
    		                 29,586,342 10,953,885 74,917 141,161 276,056 670,418 1,921,860 22,447,822 20,913,599 19,790,341 19,276,056 18,276,056 16,776,056  12,776,056 12,776,056 10,776,056 10,276,056 9,276,056 9,124,616 7,324,616 7,324,616 6,524,616 
      other assets
    		                 56,135,533 18,631,655 57,181 112,486 2,160,815 2,597,270          1,901,716 5,983,420 4,333,556 10,809,238 932,638  4,820,257 2,936,804 
      fair value below contract value of time charters acquired
    		                  1,818,114  820,313           25,050,597 26,549,512 32,603,867       
      preferred stock, .01 par value, 25,000,000 shares authorized, none issued as of september 30, 2019 and december 31, 2018
    		                                        
      accounts receivable, net of a reserve of 2,073,616 and 3,501,964, respectively
    		                  19,785,582                      
      short-term investment
    		                   4,500,000                     
      vessels and vessel improvements, at cost, net of accumulated depreciation of 124,907,998 and 99,910,416, respectively
    		                  682,944,936                      
      other fixed assets, net of accumulated depreciation of 547,452 and 343,799, respectively
    		                  692,803                      
      preferred stock, .01 par value, 25,000,000 shares authorized, none issued as of december 31, 2018 and 2017
    		                                        
      accounts receivable
    		                   17,246,540 7,096,206 12,967,279 13,960,777 22,482,466 17,691,006 17,564,874 14,366,495 11,471,483 10,552,202 8,842,296  5,825,416 5,373,408 3,881,674 4,298,844 3,279,383 3,392,461 2,033,860 1,407,800 616,205 
      vessels and vessel improvements, at cost, net of accumulated depreciation of 99,910,416 and 76,463,743, respectively
    		                   690,236,419                     
      other fixed assets, net of accumulated amortization of 343,799 and 307,880, respectively
    		                   617,343                     
      deferred financing costs - super senior revolver facility
    		                   190,000                     
      current portion of long-term debt - norwegian bond debt
    		                   4,000,000                     
      first lien facility, net of debt discount and debt issuance costs
    		                                        
      second lien facility, inclusive of payment-in-kind interest, net of debt discount and debt issuance costs
    		                                        
      ultraco debt facility, net of debt discount and debt issuance costs
    		                   59,975,162                     
      commitment and contingencies
    		                                        
      preferred stock, .01 par value, 25,000,000 shares authorized, none issued as of december 31, 2017 and 2016
    		                                        
      vessels and vessel improvements, at cost, net of accumulated depreciation of 58,027,166 and 49,148,080, respectively
    		                    719,026,871                    
      other fixed assets, net of accumulated amortization of 183,670 and 159,827, respectively
    		                    592,970                    
      first lien facility, net of debt issuance costs
    		                    193,591,587                    
      second lien facility, net of debt issuance costs
    		                    59,795,481                    
      investment
    		                     741,862 988,196                  
      fair value above contract value of time charters acquired
    		                     561,825 567,315 573,428 579,631 587,872 594,611 588,304 597,008 550,213  4,531,115 4,531,115 4,531,115       
      fair value of derivative instruments
    		                     388,670 246,110 505,647 436,336 295,329 127,758 26,229,604    5,984,686 5,973,180        
      vessels and vessel improvements, at cost, net of accumulated depreciation of 258,249,266 and 239,568,767, respectively
    		                     1,770,755,206                   
      other fixed assets, net of accumulated amortization of 373,099 and 324,691, respectively
    		                     558,414                   
      deferred revenue and fair value below contract value of time charters acquired
    		                     5,587,047 5,966,698 6,009,310 6,432,595 6,217,558 5,705,326 5,895,051 6,164,231 6,385,258  8,570,051 10,773,151        
      long-term debt
    		                     1,043,414,994 1,097,384,735 1,129,478,741 1,151,354,476 1,151,354,476 1,151,354,476 1,123,665,747 1,080,240,926 1,002,143,426 900,171,000 836,725,880 809,106,403 741,967,857 665,694,643 603,872,890 597,242,890 527,839,099 302,376,599 239,974,820 
      preferred stock, .01 par value, 25,000,000 shares authorized, none issued
    		                                        
      retained earnings
    		                     -79,908,015 -62,474,486 -60,775,507 -54,903,296 -53,465,018 -47,654,737 -50,687,678 -58,913,831 -69,925,753  -76,690,081 -77,202,342 -93,502,067 -93,338,441 -84,859,328 -75,826,561 -68,792,587 -64,688,987 -45,935,560 
      vessels and vessel improvements, at cost, net of accumulated depreciation of 239,568,767 and 176,824,438, respectively
    		                      1,789,381,046                  
      advances for vessel construction
    		                       22,292,800 153,070,603 139,300,009 191,477,225 157,540,121 240,592,076 302,583,979  483,414,622 397,350,804 448,939,895 380,671,562 358,542,727 344,854,962 290,399,551 64,785,240 25,190,941 
      other fixed assets, net of accumulated amortization of 324,691and 153,375, respectively
    		                      605,519                  
      vessels and vessel improvements, at cost, net of accumulated depreciation of 220,746,446 and 176,824,438, respectively
    		                       1,762,282,000                 
      other fixed assets, net of accumulated amortization of 274,224 and 153,375, respectively
    		                       642,287                 
      other assets and accounts receivable, net of allowance
    		                       4,160,020 2,267,172 2,260,259               
      unearned revenue
    		                       5,857,686 6,992,456                
      vessels and vessel improvements, at cost, net of accumulated depreciation of 209,804,715 and 176,824,438, respectively
    		                        1,616,579,578                
      other fixed assets, net of accumulated amortization of 228,796 and 153,375, respectively
    		                        543,515                
      vessels and vessel improvements, at cost, net of accumulated depreciation of 193,025,281 and 176,824,438, respectively
    		                         1,589,016,010               
      other fixed assets, net of accumulated amortization of 189,005 and 153,375, respectively
    		                         442,484               
      vessels and vessel improvements, at cost, net of accumulated depreciation of 176,824,438 and 125,439,001, respectively
    		                          1,509,798,249              
      other fixed assets, net of accumulated amortization of 153,375 and 59,519, respectively
    		                          420,204              
      fair value of derivative instruments and other assets
    		                          70,001 60,582             
      vessels and vessel improvements, at cost, net of accumulated depreciation of 161,510,709 and 125,439,001, respectively
    		                           1,523,349,330             
      other fixed assets, net of accumulated amortization of 114,825 and 59,519, respectively
    		                           392,034             
      vessels and vessel improvements, at cost, net of accumulated depreciation of 153,210,344 and 125,439,001, respectively
    		                            1,409,037,717            
      other fixed assets, net of accumulated amortization of 94,914 and 59,519, respectively
    		                            298,875            
      vessels and vessel improvements, at cost, net of accumulated depreciation of 138,461,809 and 125,439,001, respectively
    		                             1,274,757,629           
      other fixed assets, net of accumulated amortization of 76,049 and 59,519, respectively
    		                             254,713           
      income statement data
    		                                        
      revenues, net of commissions
    		                              192,574,000          
      vessel expenses
    		                              50,161,000          
      depreciation and amortization
    		                              44,329,000          
      general and administrative expenses
    		                              32,714,000          
      gain on sale of vessel
    		                                        
      write-off of advances for vessel construction
    		                                        
      total operating expenses
    		                              127,204,000          
      interest expense
    		                              28,700,000          
      write-off of deferred financing costs
    		                              3,383,000          
      net income
    		                              33,287,000          
      share and per share data
    		                                        
      basic income per share
    		                              600          
      diluted income per share
    		                              600          
      weighted-average shares outstanding - diluted
    		                              55,923,308,000          
      cash dividends declared per share
    		                                        
      consolidated cash flow data
    		                                        
      net cash from operating activities
    		                              90,525,000          
      net cash from investing activities
    		                              -228,624,000          
      net cash from financing activities
    		                              200,235,000          
      consolidated balance sheet data
    		                                        
      current assets
    		                              84,205,000          
      stockholders' equity
    		                              619,729,000          
      other data
    		                                        
      ebitda
    		                              121,000          
      capital expenditures :
    		                                        
      vessels
    		                              228,530,000          
      payments for drydockings
    		                              4,477,000          
      ratio of total debt to total capitalization
    		                              59,200          
      fleet data
    		                                        
      number of vessels in operating fleet
    		                              27,000          
      average age of fleet
    		                              6,000          
      fleet ownership days
    		                              9,106,000          
      fleet available days
    		                              8,999,000          
      fleet operating days
    		                              8,966,000          
      fleet utilization days
    		                              99,600          
      vessels and vessel improvements, at cost, net of accumulated depreciation of 114,516,274 and 84,113,047, respectively
    		                               919,565,338         
      other fixed assets, net of accumulated amortization of 25,755 and 4,556, respectively
    		                               283,895         
      liabilities & stockholders' equity current liabilities:
    		                                        
      common shares, .01 par value, 100,000,000 shares authorized, 61,986,777 and 47,031,300 shares issued and outstanding
    		                               619,868         
      vessels and vessel improvements, at cost, net of accumulated depreciation of 104,123,826 and 84,113,047, respectively
    		                                929,255,162        
      other assets, net of accumulated amortization of 13,689 and 4,556, respectively
    		                                271,801        
      deferred drydock costs, net of accumulated amortization of 6,236,900 and 5,022,649, respectively
    		                                3,851,375        
      common shares, .01 par value, 100,000,000 shares authorized, 61,968,034 and 47,031,300 shares issued and outstanding
    		                                619,680        
      vessels and vessel improvements, at cost, net of accumulated depreciation of 74,550,222 and 52,733,604, respectively
    		                                 785,983,783       
      deferred drydock costs, net of accumulated amortization of 4,355,533 and 2,453,253, respectively
    		                                 3,716,768       
      stockholders’ equity:
    		                                        
      common shares, .01 par value, 100,000,000 shares authorized, 46,770,486 and 46,727,153 shares issued and outstanding, respectively
    		                                 467,704 467,704      
      total stockholders’ equity
    		                                 508,381,488 506,908,100 500,853,422 514,970,995 530,461,641 410,740,640 321,575,941 
      total liabilities and stockholders’ equity
    		                                 1,314,176,463 1,208,390,915 1,148,287,285 1,136,008,373 1,075,042,842 726,654,462 568,790,967 
      cash
    		                                  62,996,613 148,513,423 152,903,692 154,947,136 22,879,415 22,275,491 
      fixed assets:
    		                                        
      advances for vessel acquisition
    		                                  7,650,000      
      vessels and vessel improvements, at cost, net of accumulated depreciation of 66,211,384 and 52,733,604, respectively
    		                                  717,738,187      
      deferred drydock costs, net of accumulated amortization of 3,702,494 and 2,453,253, respectively
    		                                  4,168,529      
      deferred revenue
    		                                  8,793,903      
      vessels and vessel improvements, at cost, net of accumulated depreciation of 59,442,019 and 52,733,604, respectively
    		                                   598,659,588     
      deferred drydock costs, net of accumulated amortization of 3,080,877 and 2,453,253, respectively
    		                                   3,356,233     
      common shares, .01 par value, 100,000,000 shares authorized, 46,757,153 and 46,727,153 shares issued and outstanding, respectively
    		                                   467,571     
      prepaid charter revenue
    		                                     500,000 1,580,000 3,740,000 
      vessels and vessel improvements, at cost, net of accumulated depreciation of 52,733,604 and 31,415,604, respectively
    		                                    605,244,861    
      deferred drydock costs, net of accumulated amortization of 2,453,253 and 809,109, respectively
    		                                    3,918,006    
      accumulated other comprehensive (loss)/income
    		                                    -12,599,245    
      vessels and vessel improvements
    		                                     611,870,650 618,572,336  
      common shares, .01 par value, 100,000,000 shares authorized, 46,727,153 shares issued and outstanding as of september 30, 2007 and 35,900,001 shares issued and outstanding as of december 31, 2006, respectively
    		                                     467,271   
      accumulated other comprehensive(loss)/income
    		                                     -3,151,969   
      common shares, .01 par value, 100,000,000 shares authorized, 41,713,820 shares issued and outstanding as of june 30, 2007 and 35,900,001 shares issued and outstanding as of december 31, 2006, respectively
    		                                      417,138  
      vessels and vessel improvements, at cost, net of accumulated depreciation of 31,415,604 and 10,384,247 as of december 31, 2006 and 2005, respectively
    		                                       502,141,951 
      deferred drydock costs, net of accumulated amortization of 809,109 and 27,980 at december 31, 2006 and 2005 respectively
    		                                       1,937,299 
      deferred financing costs, net of accumulated amortization of 276,311 and 98,065 at december 31, 2006 and 2005 respectively
    		                                       2,406,839 
    The information provided in this report is taken from www.sec.gov and many other data providers. While we have conducted our best efforts to ensure that the parsed data is accurate, we cannot guarantee its accuracy. Please use caution and understand that any consequences of its use are your own responsibility.