Note 8 - Long-term Bank Loans (Tables)

12 Months Ended

Dec. 31, 2019

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

Borrower		December 31, 2018		December 31, 2019
Noumea Shipping Ltd.	(a)	3,341,000		-
Gregos Shiping Ltd.	(b)	4,150,000		-
Alterwall Business Inc. / Allendale Investments S.A. / Manolis Shipping Ltd. / Joanna Maritime Ltd. / Jonathan John Shipping Ltd. / Athens Shipping Ltd. / Oinousses Navigation Ltd. / Corfu Navigation Ltd. / Bridge Shipping Ltd. / Noumea Shipping Ltd. / Gregos Shiping Ltd.	(c)	30,000,000		37,650,000
Diamantis Shipowners Ltd.	(d)	-		3,507,220
Kea Shipowners Ltd. / Spetses Shipowners Ltd. / Hydra Shipowners Ltd.	(e)	-		12,050,000
Antwerp Shipping Ltd. / Busan Shipping Ltd. / Keelung Shipping Ltd. / Oakland Shipping Ltd.	(f)	-		32,000,000
		37,491,000		85,207,220
Less: Current portion		(5,212,000	)	(12,541,840	)
Long-term portion		32,279,000		72,665,380
Deferred charges, current portion		125,357		246,520
Deferred charges, long-term portion		237,848		477,595
Debt discount, current portion		216,402		-
Debt discount, long-term portion		324,603		-
Long-term bank loans, current portion net of deferred charges and debt discount		4,870,241		12,295,320
Long-term bank loans, long-term portion net of deferred charges and debt discount		31,716,549		72,187,785

Loan from related party, current
Euroseas Ltd.	(g)	-		5,000,000

Schedule of Future Annual Loan Repayments [Table Text Block]

To December 31:
2020			12,541,840
2021			29,941,840
2022			8,723,540
2023			34,000,000
Total			85,207,220

- 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