XML 74 R5.htm IDEA: XBRL DOCUMENT v2.4.1.9
Consolidated Statements of Changes in Convertible Redeemable Preferred Stock and Stockholders' Equity (USD $)
Total
Common Stock [Member]
Additional Paid-in Capital [Member]
Retained Earnings (Accumulated Deficit) [Member]
Total Pangaea Logistics Solutions Ltd. (Deficit) Equity [Member]
Non-controlling Interest [Member]
Convertible Redeemable Preferred Stock [Member]
Balance at Dec. 31, 2012 $ 3,661,517us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $ 87,329us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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$ 197,035us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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$ 174,385us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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$ 458,749us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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$ 3,202,768us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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$ 69,450,675us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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Balance (in shares) at Dec. 31, 2012   87,329us-gaap_SharesOutstanding
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        64,048us-gaap_SharesOutstanding
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Retroactive restatement to reflect common shares issued in the Mergers (Note 2) 0cik0001606909_RetroactiveRestatementToReflectCommonStockIssuedForMergers (85,987)cik0001606909_RetroactiveRestatementToReflectCommonStockIssuedForMergers
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85,987cik0001606909_RetroactiveRestatementToReflectCommonStockIssuedForMergers
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0cik0001606909_RetroactiveRestatementToReflectCommonStockIssuedForMergers
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0cik0001606909_RetroactiveRestatementToReflectCommonStockIssuedForMergers
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0cik0001606909_RetroactiveRestatementToReflectCommonStockIssuedForMergers
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Retroactive restatement to reflect common shares issued in the Mergers (Note 2) (in shares)   13,334,626cik0001606909_RetroactiveRestatementToReflectCommonSharesIssuedForMergers
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Recognized beneficial conversion feature of convertible redeemable preferred stock at issuance date 0cik0001606909_RecognizedBeneficialConversionFeatureOfConvertibleRedeemablePreferredStockAtIssuanceDate 0cik0001606909_RecognizedBeneficialConversionFeatureOfConvertibleRedeemablePreferredStockAtIssuanceDate
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4,927,423cik0001606909_RecognizedBeneficialConversionFeatureOfConvertibleRedeemablePreferredStockAtIssuanceDate
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(4,927,423)cik0001606909_RecognizedBeneficialConversionFeatureOfConvertibleRedeemablePreferredStockAtIssuanceDate
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0cik0001606909_RecognizedBeneficialConversionFeatureOfConvertibleRedeemablePreferredStockAtIssuanceDate
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0cik0001606909_RecognizedBeneficialConversionFeatureOfConvertibleRedeemablePreferredStockAtIssuanceDate
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0cik0001606909_RecognizedBeneficialConversionFeatureOfConvertibleRedeemablePreferredStockAtIssuanceDate
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Issuance of convertible redeemable preferred stock as settlement of accrued dividends (45,843)cik0001606909_StockIssuedDuringPeriodValueIssuanceOfConvertibleRedeemablePreferredStockAsSettlementOfAccruedDividends 0cik0001606909_StockIssuedDuringPeriodValueIssuanceOfConvertibleRedeemablePreferredStockAsSettlementOfAccruedDividends
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0cik0001606909_StockIssuedDuringPeriodValueIssuanceOfConvertibleRedeemablePreferredStockAsSettlementOfAccruedDividends
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(45,843)cik0001606909_StockIssuedDuringPeriodValueIssuanceOfConvertibleRedeemablePreferredStockAsSettlementOfAccruedDividends
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(45,843)cik0001606909_StockIssuedDuringPeriodValueIssuanceOfConvertibleRedeemablePreferredStockAsSettlementOfAccruedDividends
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0cik0001606909_StockIssuedDuringPeriodValueIssuanceOfConvertibleRedeemablePreferredStockAsSettlementOfAccruedDividends
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213,152cik0001606909_StockIssuedDuringPeriodValueIssuanceOfConvertibleRedeemablePreferredStockAsSettlementOfAccruedDividends
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Issuance of convertible redeemable preferred stock as settlement of accrued dividends (in shares)   0cik0001606909_StockIssuedDuringPeriodSharesIssuanceOfConvertibleRedeemablePreferredStockAsSettlementOfAccruedDividends
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        167cik0001606909_StockIssuedDuringPeriodSharesIssuanceOfConvertibleRedeemablePreferredStockAsSettlementOfAccruedDividends
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Issuance of convertible redeemable preferred stock as repayment of notes payable (1,429,217)cik0001606909_StockIssuedDuringPeriodValueIssuanceOfConvertibleRedeemablePreferredStockAsRepaymentOfNotesPayable 0cik0001606909_StockIssuedDuringPeriodValueIssuanceOfConvertibleRedeemablePreferredStockAsRepaymentOfNotesPayable
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(167,420)cik0001606909_StockIssuedDuringPeriodValueIssuanceOfConvertibleRedeemablePreferredStockAsRepaymentOfNotesPayable
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(1,261,797)cik0001606909_StockIssuedDuringPeriodValueIssuanceOfConvertibleRedeemablePreferredStockAsRepaymentOfNotesPayable
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(1,429,217)cik0001606909_StockIssuedDuringPeriodValueIssuanceOfConvertibleRedeemablePreferredStockAsRepaymentOfNotesPayable
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  4,429,217cik0001606909_StockIssuedDuringPeriodValueIssuanceOfConvertibleRedeemablePreferredStockAsRepaymentOfNotesPayable
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Issuance of convertible redeemable preferred stock as repayment of notes payable (in shares)   0cik0001606909_StockIssuedDuringPeriodSharesIssuanceOfConvertibleRedeemablePreferredStockAsRepaymentOfNotesPayable
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        3,000cik0001606909_StockIssuedDuringPeriodSharesIssuanceOfConvertibleRedeemablePreferredStockAsRepaymentOfNotesPayable
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Issuance of convertible redeemable preferred stock for cash, net of issuance costs (7,517,915)cik0001606909_StockIssuedDuringPeriodValueIssuanceOfConvertibleRedeemablePreferredStockForCash 0cik0001606909_StockIssuedDuringPeriodValueIssuanceOfConvertibleRedeemablePreferredStockForCash
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(412,308)cik0001606909_StockIssuedDuringPeriodValueIssuanceOfConvertibleRedeemablePreferredStockForCash
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(7,105,607)cik0001606909_StockIssuedDuringPeriodValueIssuanceOfConvertibleRedeemablePreferredStockForCash
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(7,517,915)cik0001606909_StockIssuedDuringPeriodValueIssuanceOfConvertibleRedeemablePreferredStockForCash
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0cik0001606909_StockIssuedDuringPeriodValueIssuanceOfConvertibleRedeemablePreferredStockForCash
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29,143,355cik0001606909_StockIssuedDuringPeriodValueIssuanceOfConvertibleRedeemablePreferredStockForCash
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Issuance of convertible redeemable preferred stock for cash, net of issuance costs (in shares)   0cik0001606909_StockIssuedDuringPeriodSharesIssuanceOfConvertibleRedeemablePreferredStockForCash
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        21,899cik0001606909_StockIssuedDuringPeriodSharesIssuanceOfConvertibleRedeemablePreferredStockForCash
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Dividend on common stock and participating preferred dividend declared (12,700,000)cik0001606909_DividendOnCommonStockAndParticipatingPreferredDividendDeclared    (4,544,730)cik0001606909_DividendOnCommonStockAndParticipatingPreferredDividendDeclared
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(8,155,270)cik0001606909_DividendOnCommonStockAndParticipatingPreferredDividendDeclared
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(12,700,000)cik0001606909_DividendOnCommonStockAndParticipatingPreferredDividendDeclared
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0cik0001606909_DividendOnCommonStockAndParticipatingPreferredDividendDeclared
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Imputed interest on related party long term debt 17,873,285cik0001606909_NoncontrollingInterestImputedInterestOnRelatedPartyLongTermDebt 0cik0001606909_NoncontrollingInterestImputedInterestOnRelatedPartyLongTermDebt
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0cik0001606909_NoncontrollingInterestImputedInterestOnRelatedPartyLongTermDebt
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  0cik0001606909_NoncontrollingInterestImputedInterestOnRelatedPartyLongTermDebt
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17,873,285cik0001606909_NoncontrollingInterestImputedInterestOnRelatedPartyLongTermDebt
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0cik0001606909_NoncontrollingInterestImputedInterestOnRelatedPartyLongTermDebt
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Restructuring of NBHC (Note 1) (718,925)cik0001606909_RestructuringOfSubsidiaries 0cik0001606909_RestructuringOfSubsidiaries
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0cik0001606909_RestructuringOfSubsidiaries
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(64,684)cik0001606909_RestructuringOfSubsidiaries
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(64,684)cik0001606909_RestructuringOfSubsidiaries
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(654,241)cik0001606909_RestructuringOfSubsidiaries
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0cik0001606909_RestructuringOfSubsidiaries
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Net Income (loss) 15,514,521us-gaap_ProfitLoss 0us-gaap_ProfitLoss
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0us-gaap_ProfitLoss
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15,452,369us-gaap_ProfitLoss
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15,452,369us-gaap_ProfitLoss
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62,152us-gaap_ProfitLoss
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0us-gaap_ProfitLoss
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Balance at Dec. 31, 2013 14,637,423us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest 1,342us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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85,987us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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(5,933,870)us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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(5,846,541)us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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20,483,964us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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103,236,399us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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Balance (in shares) at Dec. 31, 2013   13,421,955us-gaap_SharesOutstanding
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        89,114us-gaap_SharesOutstanding
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Accrued convertible redeemable preferred stock dividends (6,303,747)cik0001606909_AccruedConvertibleRedeemablePreferredStockDividends 0cik0001606909_AccruedConvertibleRedeemablePreferredStockDividends
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0cik0001606909_AccruedConvertibleRedeemablePreferredStockDividends
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(6,303,747)cik0001606909_AccruedConvertibleRedeemablePreferredStockDividends
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(6,303,747)cik0001606909_AccruedConvertibleRedeemablePreferredStockDividends
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11,776,661cik0001606909_RecognizedBeneficialConversionFeatureOfConvertibleRedeemablePreferredStockAtIssuanceDate
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0cik0001606909_StockIssuedDuringPeriodValueIssuanceOfConvertibleRedeemablePreferredStockAsSettlementOfAccruedDividends
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28,332,960cik0001606909_StockIssuedDuringPeriodValueIssuanceOfConvertibleRedeemablePreferredStockAsSettlementOfAccruedDividends
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Issuance of convertible redeemable preferred stock as settlement of accrued dividends (in shares)             16,556cik0001606909_StockIssuedDuringPeriodSharesIssuanceOfConvertibleRedeemablePreferredStockAsSettlementOfAccruedDividends
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322,946cik0001606909_NoncontrollingInterestImputedInterestOnRelatedPartyLongTermDebt
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Merger transaction (in shares)   20,744,364cik0001606909_StockIssuedDuringPeriodSharesIssuedForMerger
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Merger costs (in shares)   415,309us-gaap_StockIssuedDuringPeriodSharesIssuedForNoncashConsideration
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Issuance of restricted shares 1,816us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures 6us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
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1,810us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
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0us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_RetainedEarningsMember
1,816us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_ParentMember
0us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_NoncontrollingInterestMember
0us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
/ us-gaap_StatementClassOfStockAxis
= us-gaap_RedeemableConvertiblePreferredStockMember
Issuance of restricted shares (in shares)   60,000us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
        0us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures
/ us-gaap_StatementClassOfStockAxis
= us-gaap_RedeemableConvertiblePreferredStockMember
Net Income (loss) (13,647,946)us-gaap_ProfitLoss 0us-gaap_ProfitLoss
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
0us-gaap_ProfitLoss
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AdditionalPaidInCapitalMember
(12,128,449)us-gaap_ProfitLoss
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_RetainedEarningsMember
(12,128,449)us-gaap_ProfitLoss
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_ParentMember
(1,519,497)us-gaap_ProfitLoss
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_NoncontrollingInterestMember
0us-gaap_ProfitLoss
/ us-gaap_StatementClassOfStockAxis
= us-gaap_RedeemableConvertiblePreferredStockMember
Balance at Dec. 31, 2014 $ 100,347,553us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $ 3,476us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
$ 133,955,445us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AdditionalPaidInCapitalMember
$ (36,142,727)us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_RetainedEarningsMember
$ 97,816,194us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_ParentMember
$ 2,531,359us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_NoncontrollingInterestMember
$ 0us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
/ us-gaap_StatementClassOfStockAxis
= us-gaap_RedeemableConvertiblePreferredStockMember
Balance (in shares) at Dec. 31, 2014   34,756,980us-gaap_SharesOutstanding
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
        0us-gaap_SharesOutstanding
/ us-gaap_StatementClassOfStockAxis
= us-gaap_RedeemableConvertiblePreferredStockMember