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v3.19.1

RELATED PARTY TRANSACTIONS (Details Textual) - USD ($) |  | 12 Months Ended |  |
--- | --- | --- | --- | ---
Oct. 01, 2011 | Dec. 31, 2018 | Dec. 31, 2017 | Feb. 06, 2018 | Nov. 30, 2014
Related Party Transaction [Line Items] |  |  |  |  |
Related party debt |  | $ 2,877,746 | $ 7,009,597 |  |
Technical management fees |  | 3,072,000 | 2,789,400 |  |
Founders |  |  |  |  |
Related Party Transaction [Line Items] |  |  |  |  |
Proceeds from related party debt | $ 10,000,000 |  |  |  |
Interest rate, stated percentage | 5.00% |  |  |  |
Trade payables due to related party |  | 2,595,000 | 4,325,000 |  |
Bulk Invest, Ltd. |  |  |  |  |
Related Party Transaction [Line Items] |  |  |  |  |
Debt instrument, face amount |  |  |  |  | $ 5,000,000
Current Related Party Debt |  |  |  |  |
Related Party Transaction [Line Items] |  |  |  |  |
Related party debt |  | 2,877,746 | 7,009,597 |  |
Current Related Party Debt | Loans Payable | Promissory Note |  |  |  |  |
Related Party Transaction [Line Items] |  |  |  |  |
Related party debt |  | 0 | 2,000,000 | $ 2,000,000 |
Accounts Payable and Accrued Expenses | Seamar |  |  |  |  |
Related Party Transaction [Line Items] |  |  |  |  |
Trade payables due to related party |  | $ 1,971,935 | $ 1,421,920 |  |

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- Definition Face (par) amount of debt instrument at time of issuance. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28551-108399 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400 + Details
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- Definition Contractual interest rate for funds borrowed, under the debt agreement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22(a)(1)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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