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Note 3 - Vessels, Net (Tables)

6 Months Ended

Jun. 30, 2014

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment [Table Text Block]

		Costs				Accumulated Depreciation				Net Book  Value
Balance, January 1, 2014		$	137,960,124			$	(32,496,457	)		$	105,463,737
Vessel acquisition			21,323,935				-				21,323,935
Depreciation for the period			-				(5,825,417	)			(5,825,417	)
Balance, June 30, 2014		$	159,284,059			$	(38,321,874	)		$	120,962,255

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- Definition

Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 360

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229



Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.13)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682



Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 13

-Subparagraph b

-Article 5

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