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Note 21 - Subsequent Events | 12 Months Ended
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Dec. 31, 2013
Subsequent Events [Abstract] |
Subsequent Events [Text Block] |
21. | Subsequent Events
a) | On January 27, 2014, the Company announced that it entered into an agreement to sell 25,000 shares of its Series B Convertible Perpetual Preferred Shares ("Series B Preferred Shares") to a fund managed by Tennenbaum Capital Partners, LLC ("TCP") and 5,700 shares to Preferred Friends Investment Company Inc, an affiliate of the Company, for expected net proceeds of approximately $29 million.
b) | In January 2014, the Company paid the first installment of $5.44 million for its two ultramax newbuilding contracts after securing refund guarantees.
c) | On February 2, 2014, the Company drew a loan of $8 million to be repaid over three years with twelve quarterly instalments of $375,000 each and a balloon payment of $3.5 million along with the last instalment. M/V Aristides, M/V Cpt. Costas, M/V Despina P and M/V Kuo Hsiung serve as collateral to the loan.
d) | In February 2014, the Company signed a memorandum of agreement to acquire the 76,000 dwt panamax drybulk vessel M/V Million Trader, built in 2004 in Japan, for approximately $20.5 million.
e) | On March 11, 2014, the Company announced that it entered into an agreement to sell approximately 11.2 million shares of its common stock in a private placement at a price of $1.3435 per share to an institutional investor for expected net proceeds of approximately $14.4 million.
f) | On March 11, 2014, $1 million of the $5 million deposited by the Company in an escrow account to be invested as preferred equity into Euromar was infused into Euromar.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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