Note 5 - Long-term Debt (Tables)

6 Months Ended

Jun. 30, 2018

Schedule of Long-term Debt Instruments [Table Text Block]

Borrower	December 31, 2017			June 30, 2018
Allendale Investments S.A. / Alterwall Business Inc. / Manolis Shipping Ltd. / Saf Concord Shipping Ltd. / Aggeliki Shipping Ltd. / Jonathan John Shipping Ltd. / Joanna Maritime Ltd.		7,900,000			7,900,000
Bridge Shipping ltd. / Oinousses Navigation Ltd. / Corfu Navigation Ltd. / Athens Shipping Ltd.		17,500,000			16,500,000
Noumea Shipping Ltd.		5,640,000			3,947,000
Gregos Shipping Ltd.		4,550,000			4,350,000
		35,590,000			32,697,000
Less: Current portion		(4,699,028	)		(3,912,000	)
Long-term portion		30,890,972			28,785,000
Deferred Charges, current portion		142,767			126,098
Deferred charges, long-term portion		196,619			188,511
Long-term debt, current portion net of deferred charges		4,556,261			3,785,902
Long-term debt, long-term portion net of deferred charges		30,694,353			28,596,489
Debt discount, current portion		(353,000	)		(586,009	)
Debt discount, long-term portion		(883,112	)		(1,155,962	)
Long-term debt, current portion net of deferred charges and debt discount		4,203,261			3,199,893
Long-term debt, long-term portion net of deferred charges and debt discount		29,811,241			27,440,527

Schedule of Future Annual Loan Repayments [Table Text Block]

To June 30:
2019		3,912,000
2020		5,212,000
2021		8,362,000
2022		15,211,000
Total		32,697,000

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details