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Note 5 - Advances for Vessels Under Construction and Acquisitions
 12 Months Ended
Dec. 31, 2016
Notes to Financial Statements  
Advances for Vessels Under Construction and Acquisitions [Text Block]
5.
Advances for Vessels Under Construction and Acquisitions
 
The amount shown in the accompanying consolidated balance sheet as of
December
 
31,
2015
of
$44,031,882
mainly represents advance payments to ship-builders for
six
LPG carriers under construction contracted in
2014.
 
The amount shown in the accompanying consolidated balance sheet as of
December
 
31,
2016
of
$55,785,801
mainly represents advance payments to ship-builders for
four
LPG carriers under construction contracted in
2014.
 
For the years ended
December
 
31,
2015
and
2016,
the movement of the account, advances for vessels under construction and acquisitions was as follows:
 
Balance, December 31, 2014    
88,965,085
  
Advances for vessels under construction and acquisitions    
148,318,231
  
Capitalized interest    
1,822,443
  
Capitalized expenses    
5,085,534
  
Vessels delivered    
(200,159,411
 )
         
Balance, December 31, 2015    
44,031,882
  
Advances for vessels under construction and acquisitions    
51,949,154
  
Capitalized interest    
1,660,802
  
Capitalized expenses    
2,576,626
  
Vessels delivered    
(44,432,663
 )
         
Balance, December 31, 2016    
55,785,801