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Unaudited Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2017
Dec. 31, 2016
Current assets    
Cash and cash equivalents $ 10,837,598 $ 3,208,092
Trade accounts receivable, net 1,142,156 1,432,114
Other receivables 1,314,176 870,415
Inventories 1,045,563 1,291,279
Restricted cash 937,958 655,739
Due from related companies 7,316
Prepaid expenses 375,353 172,398
Vessel held for sale 2,814,046
Total current assets 15,660,120 10,444,083
Fixed assets    
Vessels, net 123,883,084 105,584,633
Advances for vessels under construction and vessel acquisition deposits 9,609 17,753,737
Long-term assets    
Restricted cash 6,634,267 5,484,268
Deferred charges, net 426,783
Other investment 4,000,000 4,000,000
Total long-term assets 134,526,960 133,249,421
Total assets 150,187,080 143,693,504
Current liabilities    
Long-term debt, current portion 11,221,820 5,549,218
Trade accounts payable and accrued expenses 3,696,602 3,176,556
Deferred revenues 569,422 437,322
Loan from related party 11,539
Total current liabilities 15,487,844 11,174,635
Long-term liabilities    
Long-term debt, net of current portion 48,252,289 44,366,976
Derivatives 235,109 240,181
Total long-term liabilities 48,487,398 44,607,157
Total liabilities 63,975,242 55,781,792
Commitments and Contingencies
Preferred shares (par value $0.01, 20,000,000 preferred shares authorized, 35,505 and 35,943 shares issued and outstanding, respectively) 34,242,680 33,804,948
Shareholders’ equity    
Common stock (par value $0.03, 200,000,000 shares authorized, 10,876,112 and 11,177,892 issued and outstanding, respectively) 335,343 326,283
Additional paid-in capital 284,238,635 283,757,739
Accumulated deficit (232,604,820) (229,977,258)
Total shareholders’ equity 51,969,158 54,106,764
Total liabilities, mezzanine equity and shareholders’ equity 150,187,080 143,693,504
Euroseas Ltd (Member)    
Current liabilities    
Loan from related party $ 2,000,000