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Capital Stock, Treasury Stock and Additional Paid-in Capital

12 Months Ended

Dec. 31, 2019

Federal Home Loan Banks [Abstract]

Capital Stock, Treasury Stock and Additional Paid-in Capital

13. Capital Stock, Treasury Stock and Additional Paid-in Capital

The amounts shown in the accompanying consolidated balance sheets as additional paid-in capital, represent payments made by the stockholders for the acquisitions of the Company’s vessels, or investments in the Company’s common stock.

On May 23, 2019, the Company’s Board of Directors approved the extension of the existing stock repurchase plan for an additional amount of $10,000,000 to be used for repurchasing the Company’s common shares. For the year ended December 31, 2019, the Company completed the repurchase of 540,910 shares paying an average price per share of $3.40. These shares are held as treasury stock by the Company. For the years ended December 31, 2017 and 2018, the Company did not make any repurchase of its common shares.

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- References

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- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-URI http://asc.fasb.org/topic&trid=2208762

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