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Note 10 - Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2017

Notes Tables

Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]

		Fair Value Measurement at Reporting Date
		Total, December 31, 2016				(Level 1)				(Level 2)				(Level 3)
Liabilities
Interest rate swap contracts, long-term portion		$	240,181				-			$	240,181				-

		Fair Value Measurement at Reporting Date
		Total, March 31, 2017				(Level 1)				(Level 2)				(Level 3)
Liabilities
Interest rate swap contracts, long-term portion		$	235,109				-			$	235,109				-

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]

Derivatives not designated as hedging instruments	Balance Sheet Location	December 31, 2016	March 31, 2017
Interest rate contracts	Long-term liabilities - Derivatives	240,181	235,109
Total derivative liabilities		240,181	235,109

Derivative Instruments, Gain (Loss) [Table Text Block]

Derivatives not designated as hedging instruments	Location of gain (loss) recognized	Three Months Ended March 31, 2016	Three Months Ended March 31, 2017
Interest rate – Fair value	(Loss) / gain on derivatives, net	(129,661)	5,072
Interest rate contracts  - Realized loss	(Loss) /gain on derivatives, net	(69,983)	(331)
Total (loss) / gain on derivatives		(199,644)	4,741

X

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

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Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.

+ References

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