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STOCK-BASED COMPENSATION (Tables)

9 Months Ended

Sep. 30, 2016

2014 MIP Plan

Nonvested Stock Awards

Summary of nonvested stock awards

				Weighted
		Number of		Average Grant
		Shares		Date Price
Outstanding at January 1, 2016		74,040		$	200.00
Granted		—			—
Vested		(37,020)			200.00
Forfeited		—			—
Outstanding at September 30, 2016		37,020		$	200.00

Schedule of nonvested stock amortization expense

		For the Three Months Ended						For the Nine Months Ended
		September 30,						September 30,
		2016			2015			2016			2015
General, administrative and management fees		$	996		$	2,304		$	4,069		$	9,031

2015 EIP Plan | Restricted Stock Units

Nonvested Stock Awards

Summary of nonvested stock awards

				Weighted
		Number of		Average Grant
		RSUs		Date Price
Outstanding at January 1, 2016		5,821		$	71.50
Granted		66,666			5.10
Vested		(5,821)			71.50
Forfeited		—			—
Outstanding at September 30, 2016		66,666		$	5.10

The total fair value of the RSUs that vested during the nine months ended September 30, 2016 and 2015 was $30 and $116, respectively. The total fair value is calculated as the number of shares vested during the period multiplied by the fair value on the vesting date.    On February 17, 2016, the vesting of 23,286 outstanding RSUs, or 2,328 outstanding RSUs on a post-reverse stock split basis, were accelerated upon the resignation of two members on the Company’s Board of Directors.

The following table summarizes certain information of the RSUs unvested and vested as of September 30, 2016:

Unvested RSUs							Vested RSUs
September 30, 2016							September 30, 2016
					Weighted
		Weighted			Average				Weighted
		Average			Remaining				Average
Number of		Grant Date			Contractual		Number of		Grant Date
RSUs		Price			Life		RSUs		Price
66,666		$	5.10		0.63		7,440		$	71.18

Schedule of nonvested stock amortization expense

		For the Three Months Ended						For the Nine Months Ended
		September 30,						September 30,
		2016			2015			2016			2015
General, administrative and management fees		$	86		$	235		$	320		$	235

2015 EIP Plan | Restricted Stock

Nonvested Stock Awards

Summary of nonvested stock awards

				Weighted
		Number of		Average Grant
		Shares		Date Price
Outstanding at January 1,2016		—		$	—
Granted		61,224			5.20
Vested		—			—
Forfeited		—			—
Outstanding  at September 30, 2016		61,224		$	5.20

Schedule of nonvested stock amortization expense

		For the Three Months Ended						For the Nine Months Ended
		September 30,						September 30,
		2016			2015			2016			2015
General, administrative and management fees		$	60		$	—		$	150		$	—

Baltic Trading Plan

Nonvested Stock Awards

Schedule of nonvested stock amortization expense

		For the Three Months Ended						For the Nine Months Ended
		September 30,						September 30,
		2016			2015			2016			2015
General, administrative and management fees		$	—		$	3,665		$	—		$	5,273

Warrants | 2014 MIP Plan

Nonvested Stock Awards

Schedule of nonvested stock amortization expense

		For the Three Months Ended						For the Nine Months Ended
		September 30,						September 30,
		2016			2015			2016			2015
General, administrative and management fees		$	2,442		$	5,646		$	9,973		$	22,134

Summary of warrant activity and warrants outstanding

				Weighted			Weighted
		Number of		Average Exercise			Average Fair
		Warrants		Price			Value
Outstanding at January 1, 2016		5,704,974		$	303.12		$	6.36
Granted		—			—			—
Exercisable		(2,852,487)			303.12			6.36
Exercised		—			—			—
Forfeited		—			—			—
Outstanding at September 30, 2016		2,852,487		$	303.12		$	6.36

The following table summarizes certain information about the warrants outstanding as of September 30, 2016:

Warrants Outstanding,

Warrants Exercisable,

September 30, 2016

September 30, 2016

Weighted

Weighted

Weighted

Average

Weighted

Average

Weighted

Average

Remaining

Average

Remaining

Average

Number of

Exercise

Contractual

Number of

Exercise

Contractual

Exercise Price

Warrants

Price

Life

Warrants

Price

Life

$

303.12

2,852,487

$

303.12

3.86

5,704,974

$

303.12

3.86

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