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Transactions with Related Parties - 6K (Tables) | 9 Months Ended | 12 Months Ended
--- | --- | ---
Sep. 30, 2016 | Dec. 31, 2015
Transactions with Related Parties [Abstract] |  |
Vessel Acquisitions | Below is a list of the vessels purchased under the purchase agreement:
Vessel name | Date of Delivery | Vessel Class | DWT | Year Built
Premiership | September 11, 2015 | Capesize | 170,024 | 2010
Gladiatorship | September 29, 2015 | Supramax | 56,819 | 2010
Geniuship | October 13, 2015 | Capesize | 170,057 | 2010
Guardianship | October 21, 2015 | Supramax | 56,884 | 2011
Gloriuship | November 3, 2015 | Capesize | 171,314 | 2004
Squireship | November 10, 2015 | Capesize | 170,018 | 2010
Championship | December 7, 2015 | Capesize | 179,238 | 2011
| Below is a list of the vessels under the purchase agreement:
Vessel name | Date of Delivery | Vessel Class | DWT | Year Built
Premiership | September 11, 2015 | Capesize | 170,024 | 2010
Gladiatorship | September 29, 2015 | Supramax | 56,819 | 2010
Geniuship | October 13, 2015 | Capesize | 170,057 | 2010
Guardianship | October 21, 2015 | Supramax | 56,884 | 2011
Gloriuship | November 3, 2015 | Capesize | 171,314 | 2004
Squireship | November 10, 2015 | Capesize | 170,018 | 2010
Championship | December 7, 2015 | Capesize | 179,238 | 2011
Unsecured Convertible Promissory Note [Member] |  |
Transactions with Related Parties [Abstract] |  |
Movement of Debt and Equity | The debt movement is presented below:
|  | Applicable limit |  | Debt discount |  | Accumulated deficit |  | Debt |
Balance, December 31, 2014 |  | - |  | - |  | - |  | - |
Additions |  | 4,000 |  | (4,000 | ) | - |  | - |
Amortization (Note 12) |  | - |  | - |  | 225 |  | 225 |
Partial extinguishment of debt |  | - |  | - |  | (200 | ) | (200 | )
Balance, September 30, 2015 |  | 4,000 |  | (4,000 | ) | 25 |  | 25 |
Amortization |  | - |  | - |  | 78 |  | 78 |
Balance, December 31, 2015 |  | 4,000 |  | (4,000 | ) | 103 |  | 103 |
Amortization (Note 12) |  | - |  | - |  | 222 |  | 222 |
Balance, September 30, 2016 |  | 4,000 |  | (4,000 | ) | 325 |  | 325 |
The equity movement is presented below:
|  | Additional paid-in capital |
Balance, December 31, 2014 |  | - |
Intrinsic value of BCF |  | 4,000 |
Consideration allocated to repurchase BCF |  | (200 | )
Balance, December 31, 2015 |  | 3,800 |
Balance, September 30, 2016 |  | 3,800 |
| The movement of the debt and equity during the year ended December 31, 2015 is presented below:
|  | December 31, 2015 |
Debt |  |  |
Convertible promissory notes |  |  | 4,000 |
Debt discount |  |  | (4,000 | )
Amortization of debt discount (Note 13) |  |  | 303 |
Partial extinguishment of debt |  |  | (200 | )
Balance convertible promissory note |  |  | 103 |
Short term portion |  |  | 103 |
Long term portion |  |  | - |
Additional paid-in capital |  |  |  |
Intrinsic value of BCF |  |  | 4,000 |
Consideration allocated to repurchase BCF |  |  | (200 | )
Balance of intrinsic value of BCF |  |  | 3,800 |
Unsecured Revolving Convertible Promissory Note [Member] |  |
Transactions with Related Parties [Abstract] |  |
Movement of Debt and Equity | The debt movement is presented below:
|  | Applicable limit |  | Debt discount |  | Accumulated deficit |  | Debt |
Balance, December 31, 2014 |  | - |  | - |  | - |  | - |
Additions |  | 2,800 |  | (2,800 | ) | - |  | - |
Amortization (Note 12) |  | - |  | - |  | 2 |  | 2 |
Balance, September 30, 2015 |  | 2,800 |  | (2,800 | ) | 2 |  | 2 |
Additions |  | 8,965 |  | (8,965 | ) | - |  | - |
Amortization (Note 12) |  | - |  | - |  | 29 |  | 29 |
Balance, December 31, 2015 |  | 11,765 |  | (11,765 | ) | 31 |  | 31 |
Additions |  | 9,400 |  | (9,400 | ) | - |  | - |
Amortization (Note 12) |  | - |  | - |  | 466 |  | 466 |
Balance, September 30, 2016 |  | 21,165 |  | (21,165 | ) | 497 |  | 497 |
The equity movement is presented below:
|  | Additional paid-in capital |
Balance, December 31, 2014 |  | - |
Intrinsic value of BCF |  | 11,765 |
Balance, December 31, 2015 |  | 11,765 |
Intrinsic value of BCF |  | 9,400 |
Balance, September 30, 2016 |  | 21,165 |
| The movement of the debt and equity during the year ended December 31, 2015 is presented below:
|  | December 31, 2015 |
Debt |  |  |
Convertible promissory notes |  |  | 11,765 |
Debt discount |  |  | (11,765 | )
Amortization of debt discount (Note 13) |  |  | 31 |
Balance convertible promissory note |  |  | 31 |
Short term portion |  |  | - |
Long term portion |  |  | 31 |
Additional paid-in capital |  |  |  |
Intrinsic value of BCF |  |  | 11,765 |
Balance of intrinsic value of BCF |  |  | 11,765 |

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- Definition Tabular disclosure of borrowings which can be exchanged for a specified number of another security at the option of the issuer or the holder. Disclosures include, but are not limited to, principal amount, amortized premium or discount, and amount of liability and equity components. + References No definition available. + Details
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