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Transactions with Related Parties - 20F (Tables)
 9 Months Ended 12 Months Ended
Sep. 30, 2016
Dec. 31, 2015
Related Party Transaction [Line Items]    
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]    
Related Party Transaction [Line Items]    
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]    
Related Party Transaction [Line Items]    
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