Euroseas (ESEA) 20-F30 Apr 202019 FY Annual report (foreign)Financial data

Company Profile

Document And Entity Information

Document And Entity Information	12 Months Ended
Document And Entity Information	Dec. 31, 2019shares
Document Information [Line Items]
Entity Registrant Name	EUROSEAS LTD.
Entity Central Index Key	0001341170
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Emerging Growth Company	false
Entity Interactive Data Current	Yes
Entity Common Stock, Shares Outstanding (in shares)	5,600,259
Entity Shell Company	false
Document Type	20-F
Document Period End Date	Dec. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Amendment Flag	false
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Current assets
Cash and cash equivalents	$ 985,418	$ 6,960,258
Restricted cash	610,376	117,063
Trade accounts receivable, net	715,097	958,705
Other receivables	1,570,506	2,031,415
Inventories	1,889,164	1,704,391
Prepaid expenses	526,531	222,336
Total current assets	6,297,092	11,994,168
Long-term assets:
Vessels, net	116,230,333	48,826,128
Restricted cash	4,334,267	6,134,267
Total assets	126,861,692	66,954,563
Current liabilities
Long-term bank loans, current portion	12,295,320	4,870,241
Related party loan, current	5,000,000
Trade accounts payable	3,899,967	2,288,525
Accrued expenses	1,725,321	1,301,805
Accrued preferred dividends	161,315
Deferred revenues	973,774	417,634
Due to related company	795,562	2,672,895
Derivatives		41,435
Total current liabilities	24,851,259	11,592,535
Long-term liabilities
Long-term bank loans, net of current portion	72,187,785	31,716,549
Vessel profit participation liability		1,067,500
Fair value of below market time charters acquired	1,714,370
Total long-term liabilities	73,902,155	32,784,049
Total liabilities	98,753,414	44,376,584
Commitments and contingencies
Mezzanine Equity
Preferred shares (par value $0.01, 20,000,000 shares authorized, 19,605 and 8,000 issued and outstanding, respectively)	7,654,577	18,757,361
Shareholders’ equity
Common stock (par value $0.03, 200,000,000 shares authorized, 1,564,456 and 5,600,259 issued and outstanding)	168,008	46,934
Additional paid-in capital	253,967,708	233,996,669
Accumulated deficit	(233,682,015)	(230,222,985)
Total shareholders’ equity	20,453,701	3,820,618
Total liabilities, mezzanine equity and shareholders’ equity	$ 126,861,692	$ 66,954,563

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares	Dec. 31, 2019	Dec. 31, 2018
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	20,000,000	20,000,000
Preferred stock, shares issued (in shares)	8,000	19,605
Preferred stock, shares outstanding (in shares)	8,000	19,605
Common stock, par value (in dollars per share)	$ 0.03	$ 0.03
Common stock, shares authorized (in shares)	200,000,000	200,000,000
Common stock, shares issued (in shares)	5,600,259	1,564,456
Common stock, shares outstanding (in shares)	5,600,259	1,564,456

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	12 Months Ended
Consolidated Statements of Operations - USD ($)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Time charter revenue	$ 41,769,278	$ 36,062,202	$ 24,278,048
Voyage charter revenue		206,682	559,319
Related party management fee income			240,000
Commissions (including $310,467, $453,361 and $493,341, respectively, to related party)	(1,745,599)	(1,844,147)	(1,318,248)
Net revenue, continuing operations	40,023,679	34,424,737	23,759,119
Operating expenses
Voyage expenses	1,055,408	1,261,088	1,564,489
Vessel operating expenses (including $190,723, $256,069 and $249,081, respectively, to related party)	23,983,282	19,986,170	15,019,342
Other operating income			(499,103)
Dry-docking expenses	2,714,662	2,774,924	571,291
Vessel depreciation	4,178,886	3,305,951	3,585,965
Related party management fees	3,671,335	3,536,094	2,632,637
General and administrative expenses (including $1,306,476, $1,561,126 and $1,344,250, respectively, to related party)	2,444,495	2,565,502	2,502,203
Net gain on sale of vessels		(1,340,952)	(803,811)
Loss on write-down of vessels held for sale			4,595,819
Total operating expenses, continuing operations	38,048,068	32,088,777	29,168,832
Operating (loss) / income, continuing operations	1,975,611	2,335,960	(5,409,713)
Other income/(expenses)
Interest and other financing costs (including $0, $0 and $84,444, respectively, to related party)	(3,424,969)	(3,050,768)	(1,554,695)
Loss on debt extinguishment	(328,291)
Gain / (loss) on derivatives, net	(2,885)	(44,343)	12,389
Foreign exchange (loss) / gain	2,024	13,963	(30,214)
Interest income	95,839	81,792	37,972
Other expenses, net, continuing operations	(3,658,282)	(2,999,356)	(1,534,548)
Net loss, continuing operations	(1,682,671)	(663,396)	(6,944,261)
Dividends to Series B preferred shares	(1,271,782)	(1,335,733)	(1,808,811)
Preferred deemed dividend	(504,577)
Net loss attributable to common shareholders, continuing operations	(3,459,030)	(1,999,129)	(8,753,072)
Net income attributable to common shareholders, discontinued operations		554,506	849,701
Net loss attributable to common shareholders	$ (3,459,030)	$ (1,444,623)	$ (7,903,371)
Weighted average common shares –outstanding , basic and diluted (in shares)	2,861,928	1,414,775	1,383,440
Loss per share attributable to common shareholders - basic and diluted, continuing operations (in dollars per share)	$ (1.21)	$ (1.41)	$ (6.33)
Earnings per share attributable to common shareholders - basic and diluted, discontinued operations (in dollars per share)		0.39	0.61
Loss per share attributable to common shareholders - basic and diluted, (in dollars per share)	$ (1.21)	$ (1.02)	$ (5.72)

Consolidated Statements of Op_2

Consolidated Statements of Operations (Parentheticals) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Commissions, related party	$ 493,341	$ 453,361	$ 310,467
Vessel operating expenses, related party	249,081	256,069	190,723
Other general and administrative expenses, related party	1,344,250	1,561,126	1,306,476
Net gain on sale of vessels, related party	0	64,500	70,640
Interest and other financing costs, related party	$ 84,444	$ 0	$ 0

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($)	Private Placement [Member]Common Stock [Member]	Private Placement [Member]Additional Paid-in Capital [Member]	Private Placement [Member]Retained Earnings [Member]	Private Placement [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balance (in shares) at Dec. 31, 2016					1,359,514
Balance at Dec. 31, 2016					$ 40,785	$ 284,043,237	$ (229,977,258)	$ 54,106,764
Net loss							(6,094,560)	(6,094,560)
Dividends to Series B preferred shares							(1,808,811)	(1,808,811)
Issuance of shares (in shares)					37,723
Issuance of shares					$ 1,133	373,110		374,243
Issuance of restricted shares for stock incentive award and share-based compensation (in shares)					12,534
Issuance of restricted shares for stock incentive award and share-based compensation					$ 376	116,186		116,562
Shares forfeited (in shares)					(505)
Shares forfeited					$ (15)
Shares forfeited, APIC						15
Net loss							(6,094,560)	(6,094,560)
Balance (in shares) at Dec. 31, 2017					1,409,266
Balance at Dec. 31, 2017					$ 42,279	284,532,548	(237,880,629)	46,694,198
Net loss							(663,396)	(663,396)
Dividends to Series B preferred shares							(1,335,733)	(1,335,733)
Issuance of shares (in shares)					139,509
Issuance of shares					$ 4,185	1,860,925		1,865,110
Issuance of restricted shares for stock incentive award and share-based compensation (in shares)					15,681
Issuance of restricted shares for stock incentive award and share-based compensation					$ 470	124,017		124,487
Net loss							(663,396)	(663,396)
Spin-off of EuroDry Ltd. to stockholders						(52,520,821)	9,656,773	(42,864,048)
Balance (in shares) at Dec. 31, 2018					1,564,456
Balance at Dec. 31, 2018					$ 46,934	233,996,669	(230,222,985)	3,820,618
Net loss							(1,682,671)	(1,682,671)
Dividends to Series B preferred shares							(1,271,782)	(1,271,782)
Issuance of shares (in shares)	1,056,338				144,727
Issuance of shares	$ 31,690	$ 5,968,310		$ 6,000,000	$ 4,342	771,190		775,532
Issuance of restricted shares for stock incentive award and share-based compensation (in shares)					15,444
Issuance of restricted shares for stock incentive award and share-based compensation					$ 463	97,456		97,919
Net loss							(1,682,671)	(1,682,671)
Preferred deemed dividend							(504,577)	(504,577)
Rounding of stock split (in shares)					2,393
Rounding of stock split					$ 72	(72)
Balance (in shares) at Dec. 31, 2019					5,600,259
Balance at Dec. 31, 2019					$ 168,008	$ 253,967,708	$ (233,682,015)	$ 20,453,701

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash flows from operating activities:
Net loss	$ (1,682,671)	$ (663,396)	$ (6,944,261)
Adjustments to reconcile net loss to net cash provided by / (used in) operating activities:
Vessel depreciation	(4,178,886)	(3,305,951)	(3,585,965)
Other operating income			(499,103)
Loss on write-down of vessels held for sale			4,595,819
Amortization and write off of deferred charges	205,590	321,181	113,244
Amortization of debt discount	95,214	465,507	60,988
Net gain on sale of vessels		(1,340,952)	(803,811)
Amortization of fair value of below market time charters acquired	(857,945)
Share-based compensation	97,919	124,487	116,562
Change in the fair value of derivatives	(41,435)	(204,647)	5,901
Loss on debt extinguishment	328,291
Trade accounts receivable	243,608	(73,210)	(91,604)
Prepaid expenses	(304,195)	24,703	(117,793)
Other receivables	460,909	(1,066,378)	(210,741)
Inventories	(184,773)	(511,373)	329,244
Due to related company	(1,877,333)	(2,732,256)	4,314,415
Trade accounts payable	1,539,553	766,052	197,782
Accrued expenses	482,671	282,045	167,016
Deferred revenues	556,140	(172,544)	233,402
Net cash provided by / (used in) operating activities of continuing operations	3,240,429	(1,474,830)	5,053,025
Cash flows from investing activities:
Cash paid for capitalized expenses and acquisition of vessels including attached time charter agreements	(55,720,226)	(1,867)	(30,063,480)
Cash released from other investment			4,000,000
Proceeds from sale of vessels		6,255,735	9,552,260
Net cash (used in) / provided by investing activities of continuing operations	(55,720,226)	6,253,868	(16,511,220)
Cash flows from financing activities:
Redemption of Series B preferred shares	(11,686,000)
Proceeds from issuance of common stock, net of commissions paid	6,853,101	1,975,110	549,495
Investment in subsidiary spun-off		(3,298,356)	(915,525)
Due from spun-off subsidiary			639,312
Preferred dividends paid	(1,031,827)
Offering expenses paid	(136,724)	(22,488)	(341,072)
Loan arrangement fees paid	(566,500)	(419,863)	(187,637)
Proceeds from long-term bank loans	60,167,680	34,250,000	22,250,000
Repayment of long-term bank loans and vessel profit participation liability	(13,401,460)	(32,349,000)	(7,243,915)
Proceeds from related party loan	5,000,000
Repayment of related party loan			(2,000,000)
Net cash provided by financing activities of continuing operations	45,198,270	135,403	12,750,658
Net increase / (decrease) in cash, cash equivalents and restricted cash	(7,281,527)	4,914,441	1,292,463
Cash, cash equivalents and restricted cash at beginning of year	13,211,588	8,297,147	7,004,684
Cash, cash equivalents and restricted cash at end of year, continuing operations	5,930,061	13,211,588	8,297,147
Cash breakdown
Total cash, cash equivalents and restricted cash shown in the statement of cash flows, continuing operations	5,930,061	13,211,588	8,297,147
Net cash provided by operating activities of discontinued operations		3,970,170	2,910,287
Net cash used in investing activities of discontinued operations		(29,045,685)	(9,635,504)
Net cash provided by financing activities of discontinued operations		27,928,885	9,283,359
Cash paid for interest, net of capitalized expenses	3,100,049	2,475,631	1,174,863
Financing, and investing activities fees:
Loan arrangement fees accrued			74,863
Offering expenses accrued	40,846	100,000	12,488
Payment-in-kind dividends	78,640	1,335,733	1,808,811
Capital expenditures included in liabilities	71,890
Accrued preferred dividends	161,315
Shares issued as consideration for acquisition of vessels	13,218,662
Preferred shares distributed to EuroDry		18,192,131
Eurodry [Member]
Financing, and investing activities fees:
Preferred shares distributed to EuroDry		$ 18,192,131

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation and General Information	12 Months Ended
Note 1 - Basis of Presentation and General Information	Dec. 31, 2019
Notes to Financial Statements
Business Description and Basis of Presentation [Text Block]	1. Basis of Presentation and General Information Euroseas Ltd. (the “Company” or “Euroseas”) was formed on May 5, 2005 June 28, 2005, June 29, 2005, January 2007, January 31, 2007. The operations of the vessels are managed by Eurobulk Ltd. (“Eurobulk” or “Management Company” or “Manager”), a corporation controlled by members of the Pittas family. Eurobulk has an office in Greece located at 4 7 The Pittas family is the controlling shareholder of Friends Investment Company Inc., Containers Shareholders Trinity Ltd., Eurobulk Marine Holdings Inc. and Diamantis Shareholders Ltd. which, in turn, collectively own 62% December 31, 2019. Following the close of trading on the Nasdaq Capital Market on May 30, 2018, one five May 23, 2018. May 31, 2018 In August 2019, four June 2019 $28.2 $15 2,816,901 two 8 8 $16,167,680 64.3% The vessels acquisition transactions were evaluated and approved by a special committee of independent members of the Board of Directors. The four 1,700 2005 2007, 3,100 2007, 2,008 1998. August 2, 2019, August 7, 2019, 4 In November 2019, November 18, 2019 November 21, 2019) four 4,253 three 2009 2008 4 $40 four $32 8 $6 $5.68 $2 6 three 7 $0.5 one 10 The Company effected a 8 1 December 18, 2019 ( 18 The Company is engaged in the ocean transportation of containers through ownership and operation of container carrier ship-owning companies. Details of the Company’s wholly owned subsidiaries are set out below: · Allendale Investment S.A., incorporated in Panama on January 22, 2002, 18,154 1,169 twenty 1993 May 13, 2002. · Alterwall Business Inc., incorporated in Panama on January 15, 2001, 18,253 1,169 1990 February 16, 2001. · Prospero Maritime Inc., incorporated in the Republic of Marshall Islands on July 21, 2006, 69,268 1993 September 21, 2006. January 15, 2016. · Manolis Shipping Ltd., incorporated in the Republic of Marshall Islands on March 16, 2007, 20,346 1,452 1995 April 12, 2007. · Noumea Shipping Ltd, incorporated in the Republic of Marshall Islands on May 14, 2008, 34,677 2,556 2001 May 22, 2008. · Eleni Shipping Ltd., incorporated in the Republic of Liberia on February 11, 2009, 72,119 1997, March 6, 2009 January 26, 2017. · Aggeliki Shipping Ltd., incorporated in the Republic of Liberia on May 21, 2010, 30,306 2008 1998, June 21, 2010 December 6, 2017. · Joanna Maritime Ltd., incorporated in Liberia on June 10, 2013, 22,301 1,732 1999 July 4, 2013. January 8, 2016, March 17, 2017 · Jonathan John Shipping Ltd., incorporated in the Republic of the Marshall Islands on August 19, 2016, 18,581 1,439 1997 September 29, 2016. · Gregos Shipping Ltd., incorporated in the Republic of Liberia on May 25, 2017, 35,600 2,788 2004 June 20, 2017. · Athens Shipping Ltd., incorporated in the Republic of the Marshall Islands on September 18, 2017, 32,350 2,506 2000 September 29, 2017. · Corfu Navigation Ltd., incorporated in the Republic of the Marshall Islands on September 18, 2017, 34,654 2,556 2001 October 29, 2017. · Oinousses Navigation Ltd., incorporated in the Republic of the Marshall Islands on September 18, 2017, 32,350 2,506 2000 October 23, 2017. · Bridge Shipping Ltd., incorporated in the Republic of the Marshall Islands on September 18, 2017, 71,366 5,610 2001 December 21, 2017. · Diamantis Shipowners Ltd., incorporated in the Republic of Liberia on June 3, 2019, 30,360 2,008 1998 August 2, 2019. · Hydra Shipowners Ltd., incorporated in the Republic of Liberia on June 3, 2019, 23,351 1,740 2005 August 2, 2019. · Spetses Shipowners Ltd., incorporated in the Republic of Liberia on June 3, 2019, 23,224 1,740 2007 August 7, 2019. · Kea Shipowners Ltd., incorporated in the Republic of Liberia on June 3, 2019, 42,165 3,100 2007 August 7, 2019. · Antwerp Shipping Ltd., incorporated in the Republic of the Marshall Islands on November 1, 2019, 50,726 4,253 2008 November 19, 2019. · Keelung Shipping Ltd., incorporated in the Republic of the Marshall Islands on November 1, 2019, 50,969 4,253 2009 November 18, 2019. · Oakland Shipping Ltd., incorporated in the Republic of the Marshall Islands on November 1, 2019, 50,787 4,253 2009 November 19, 2019. · Busan Shipping Ltd., incorporated in the Republic of the Marshall Islands on November 1, 2019, 50,726 4,253 2009 November 21, 2019. As of December 31, 2019, $18.6 December 31, 2019, $3.1 $1.0 $4.9 December 31, 2019. 8% January 2021, 14% 15 not may twelve During the years ended December 31, 2017, 2018 2019, 10% Year ended December 31, Charterer 2017 2018 2019 CMA CGM, Marseille 34 % 51 % 24 % New Golden Sea Shipping Pte. Ltd., Singapore 31 % 33 % 21 % Hapag-Lloyd AG, Hamburg - - 16 % MSC Geneva 17 % 11 % 15 % Maersk Line A/S - - 11 %

Note 2 - Significant Accounting

Note 2 - Significant Accounting Policies	12 Months Ended
Note 2 - Significant Accounting Policies	Dec. 31, 2019
Notes to Financial Statements
Significant Accounting Policies [Text Block]	2. Significant Accounting Policies The accompanying consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America. The following are the significant accounting policies adopted by the Company: Principles of consolidation The accompanying consolidated financial statements include the accounts of Euroseas Ltd. and its subsidiaries. Inter-company balances and transactions are eliminated on consolidation. Use of estimates The preparation of the accompanying consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosures of contingent assets and liabilities at the date of the consolidated financial statements, and the stated amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Other comprehensive income / (loss) The Company has no no Foreign currency translation The Company’s functional currency as well as the functional currency of all its subsidiaries is the U.S. dollar. Assets and liabilities denominated in foreign currencies are translated into U.S. dollars at exchange rates prevailing at the balance sheet date. Income and expenses denominated in foreign currencies are translated into U.S. dollars at exchange rates prevailing at the date of the transaction. The resulting exchange gains and/or losses on settlement or translation are included in the accompanying consolidated statements of operations. Cash equivalents Cash equivalents are cash in bank accounts, time deposits or other certificates purchased with an original maturity of three Restricted cash Restricted cash reflects deposits with certain banks that can only be used to pay the current loan installments or are required to be maintained as a certain minimum cash balance per mortgaged vessel and amounts that are pledged, blocked or held as cash collateral. Trade accounts receivable The amount shown as trade accounts receivable, at each balance sheet date, includes estimated recoveries from each voyage or time charter. At each balance sheet date, the Company provides for doubtful accounts on the basis of specific identified doubtful receivables. Inventories Inventories are stated at the lower of cost and net realizable value, which is the estimated selling prices less reasonably predictable costs of disposal and transportation. Inventories are valued using the FIFO (First-In First-Out) method. Vessels Vessels are stated at cost, which comprises the vessel contract price, costs of major repairs and improvements upon acquisition, direct delivery and other acquisition expenses, less accumulated depreciation and impairment, if any. Subsequent expenditures for conversions and major improvements are also capitalized when they appreciably extend the life, increase the earning capacity or improve the efficiency or safety of the vessels; otherwise these amounts are charged to expense as incurred. Vessels under construction are presented at cost, which includes shipyard installment payments and other vessel costs incurred during the construction period that are directly attributable to the construction of the vessels, including interest costs incurred during the construction period. Expenditures for vessel repair and maintenance are charged against income in the period incurred. Assets Held for Sale The Company may one Long-lived assets classified as held for sale are measured at the lower of their carrying amount or fair value less the cost to sell the asset. These assets are no Depreciation Depreciation is calculated on a straight line basis over the estimated useful life of the vessel with reference to the cost of the vessel, and estimated scrap value. Remaining useful lives of vessels are periodically reviewed and revised to recognize changes in conditions and such revisions, if any, are recognized over current and future periods. The Company estimates that its vessels have a useful life of 25 $0.25 December 31, 2019 2018, Insurance claims and insurance proceeds Claims receivable are recorded on the accrual basis and represent the amounts to be received, net of deductibles incurred through each balance sheet date, for which recovery from insurance companies is probable and the claim is not Revenue and expense recognition Revenues are generated from time charters and voyage charters. Under a time charter agreement a contract is entered into for the use of a vessel for a specific period of time and a specified daily charter hire rate. Under a voyage charter agreement, a contract is made in the spot market for the use of a vessel for a specific voyage to transport a specified agreed upon cargo at a specified freight rate per ton or occasionally a lump sum amount. Under a voyage charter agreement, the charter party generally has a minimum amount of cargo and the charterer is liable for any short loading of cargo or "dead" freight. In February 2016, No. 2016 02, 842 842 842, not 842 842 not component is the same as those for the non-lease component associated with that lease component and (ii) the lease component, if accounted for separately, would be classified as an operating lease. ASC 842 December 15, 2018, 842 January 1, 2019 not A time charter is a contract for the use of a vessel for a specific period of time and a specified daily charter hire rate, which is generally payable in advance. Time charter revenue is recognized when a charter agreement exists, the vessel is made available to the charterer and collection of the related revenue is reasonably assured. As of December 31, 2019, one 12 8 23 842, not As discussed above, the transition guidance associated with ASC 842 not 842. Both the lease component and non-lease component are earned by the passage of time. Since lessor accounting remains largely unchanged from previous U.S. GAAP, upon adoption of ASC 842, not December 31, 2017, 2018 2019. Voyage charter agreements are considered service contracts that fall under the provisions of ASC 606, 842 not not one Demurrage income is included in Voyage charter revenues, represents revenue earned from the charterer when loading or discharging time exceeded the stipulated time in the voyage charter agreement and is recognized when earned and collection is reasonably assured. Demurrage income for the years ended December 31, 2017, 2018 2019 not Charter fees received in advance are recorded as a liability (deferred revenue) until charter services are rendered. Vessel operating expenses are comprised of all expenses relating to the operation of the vessels, including crewing, insurance, repairs and maintenance, stores, lubricants, spares and consumables, professional and legal fees and miscellaneous expenses. Vessel operating expenses are recognized as incurred; payments in advance of services or use are recorded as prepaid expenses. Under voyage charter agreements, voyage expenses relate to bunkers, port charges, canal tolls, and agency fees and are all paid by the Company. Costs incurred prior to loading which are directly related to the voyage are deferred by the Company if they meet certain conditions, and are amortized over the duration of the voyage from load port to discharge port. Costs incurred during the voyage are expensed as incurred. Under time charter agreements, voyage expenses which are also recognized as incurred by the Company include costs for draft surveys, holds cleaning, postage, extra war risk insurance and other minor miscellaneous expenses related to the voyage. The charterer is responsible for paying the cost of bunkers and other voyage expenses whilst the vessel is on time charter. Certain voyage expenses paid by the Company, such as extra war risk insurance and holds cleaning may Commissions (address and brokerage), regardless of charter type, are always paid by the Company, are deferred and amortized over the related charter period and are presented as a separate line item in revenues to arrive at net revenues in the accompanying consolidated statements of operations. Dry-docking and special survey expenses Dry-docking and special survey expenses are expensed as incurred. Pension and retirement benefit obligations – crew The ship-owning companies contract the crews on board the vessels under short-term contracts (usually up to 9 not Financing costs Loan arrangement fees are deferred and amortized to interest expense over the duration of the underlying loan using the effective interest method. Unamortized fees relating to loans repaid or refinanced are expensed in the period the repayment or refinancing occurs. Offering expenses Deferred offering expenses are charged against paid-in capital when financing is completed or expensed to “General and administrative expenses” in the consolidated statements of operations when the offering is aborted. Fair value of above/below market time charters acquired The Company records all identified tangible and intangible assets or any liabilities associated with the acquisition of a vessel at fair value. Where vessels are acquired with existing time charters, the Company determines the present value of the difference between: (i) the contractual charter rate and (ii) the prevailing market rate for a charter of equivalent duration. In discounting the charter rate differences in future periods, the Company uses its Weighted Average Cost of Capital (WACC) adjusted to account for the credit quality of the counterparties, as deemed necessary. The capitalized above-market (assets) and below-market (liabilities) charters are amortized as a reduction and increase, respectively, to time charter revenues over the remaining term of the assumed time charter. Stock incentive plan awards Share-based compensation represents vested and non-vested restricted shares granted to officers and directors as well as to non-employees and are included in “General and administrative expenses” in the consolidated statements of operations. In June 2018, 2018 07, 718 2018 07 not Impairment of long-lived assets The Company reviews its long-lived assets held for use and their related intangible assets and liabilities for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not Derivative financial instruments Derivative instruments are recorded in the balance sheet as either an asset or liability measured at its fair value with changes in the instruments' fair value recognized as either a component in other comprehensive income if specific hedge accounting criteria are met in accordance with guidance relating to “Derivatives and Hedging” or in earnings if hedging criteria are not Preferred shares Preferred shares are recorded at the initial consideration received less offering expenses and adjusted by including the redemption value of dividends paid in-kind. The Company recognizes changes in the redemption value of the preferred shares immediately as they occur and adjusts the carrying amount of the preferred shares to equal the redemption value at the end of each reporting period to that effect. Evaluation of purchase transactions When the Company enters into an acquisition transaction, it determines whether the acquisition transaction was for the purchase of an asset or a business based on the facts and circumstances of the transaction. In accordance with ASU No. 2017 01, 805 not Earnings / (loss) per common share Basic earnings / (loss) per share is computed by dividing net income / (loss) attributable to common shareholders, after the deduction of dividends paid (in cash or in-kind) to preferred shareholders, by the weighted-average number of common shares outstanding during the period. The weighted-average number of common shares outstanding does not December 31, 2018 2019, not Diluted earnings / (loss) per share gives effect to all potentially dilutive securities to the extent that they are dilutive, using the treasury stock method. The Company uses the treasury stock method for non-vested restricted shares, while for the preferred shares issued the Company uses the if-converted method to assess the dilutive effect. Segment reporting The Company reports financial information and evaluates its operations by charter revenue and not not not one Recent accounting pronouncements In June 2016, 2016 13, 326 November 2018, 2018 19 326, not 326 20 842. December 15, 2019, not In August 2018, 2018 13, 820 820, December 15, 2019. 3 not

Note 3 - Inventories

Note 3 - Inventories	12 Months Ended
Note 3 - Inventories	Dec. 31, 2019
Notes to Financial Statements
Inventory Disclosure [Text Block]	3. Inventories Inventories consisted of the following: 2018 2019 Lubricants 1,043,763 1,728,861 Victualing 79,965 160,303 Bunkers 580,663 - Total 1,704,391 1,889,164

Note 4 - Vessels, Net

Note 4 - Vessels, Net	12 Months Ended
Note 4 - Vessels, Net	Dec. 31, 2019
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	4. Vessels, net The amounts in the accompanying consolidated balance sheets are as follows: Balance, January 1, 2018 61,279,976 (9,147,897 ) 52,132,079 - Depreciation for the year - (3,305,951 ) (3,305,951 ) Balance, December 31, 2018 61,279,976 (12,453,848 ) 48,826,128 - Depreciation for the year - (4,178,886 ) (4,178,886 ) - Vessel acquisitions 71,214,470 - 71,214,470 - Vessel improvements 368,621 - 368,621 Balance, December 31, 2019 132,863,067 (16,632,734 ) 116,230,333 Vessel improvements refer to the installation of Water Ballast Treatment (“WBT”) systems. As of December 31, 2019, one $0.37 The Company considers the potential sale of its vessels, for scrap or further trading, depending on a vessel’s age, any additional capital expenditures required the expected revenues from continuing to own the vessel and the overall market prospects. On January 13, 2017, $2.3 January 31, 2017. $0.5 On September 30, 2017 2,008 1998 46,667 1998 $4.6 $3.36 December 6, 2017 $4.4 $0.3 December 31, 2017, June 25, 2018. $1.34 December 31, 2018, On June 20, 2017 2,788 2004 $4.75 On September 29, 2017 2,506 2000 $4.24 On October 23, 2017 2,506 2000 $4.25 On October 29, 2017 2,556 2001 $5.66 On December 21, 2017 5,610 2001 $11.12 On August 2, 2019 1,740 2005 $6.73 On August 2, 2019 2,008 1998 $5.22 On August 7, 2019 3,100 2007 $9.48 On August 7, 2019 1,740 2007 $7.57 On November 19, 2019 4,253 2008 $10.11 On November 18, 2019 4,253 2009 $11.44 On November 19, 2019 4,253 2009 $10.50 On November 21, 2019 4,253 2009 $10.17 The Company performed the undiscounted cash flow test as of December 31, 2018 2019 All the Company’s vessels have been mortgaged as security for the Company’s loans (refer Note 8

Note 5 - Accrued Expenses

Note 5 - Accrued Expenses	12 Months Ended
Note 5 - Accrued Expenses	Dec. 31, 2019
Notes to Financial Statements
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	5. Accrued Expenses The accrued expenses consisted of: As of December 31, 2018 As of December 31, 2019 Accrued payroll expenses 93,404 231,093 Accrued interest expense 565,623 590,216 Accrued general and administrative expenses 348,761 111,720 Accrued commissions 39,545 67,682 Other accrued expenses 254,472 724,610 Total 1,301,805 1,725,321

Note 6 - Fair Value of Below Ma

Note 6 - Fair Value of Below Market Time Charters Acquired	12 Months Ended
Note 6 - Fair Value of Below Market Time Charters Acquired	Dec. 31, 2019
Notes to Financial Statements
Below Market Time Charters Acquired [Text Block]	6. Fair Value of Below Market Time Charters Acquired As part of the Trinity / Diamantis Vessel Acquisition in August 2019 $778,287, 2 In addition, as part of the Synergy Vessel Acquisition in November 2019 $1,794,028, 2 For the year ended December 31, 2019, $857,945 The unamortized balance of this intangible liability as of December 31, 2019 $1,714,370 2020.

Note 7 - Related Party Transact

Note 7 - Related Party Transactions	12 Months Ended
Note 7 - Related Party Transactions	Dec. 31, 2019
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	7. Related Party Transactions The Company’s vessel owning companies are parties to management agreements with the Manager which is controlled by members of the Pittas family, whereby the Manager provides technical and commercial vessel management for a fixed daily fee of Euro 685 2017, 2018 2019, $2,632,637, $3,536,094 $3,671,335 2017, 2018 2019, The Company’s MMA with Eurobulk provides for an annual adjustment of the daily management fee due to inflation to take effect January 1 five five 90th The MMA was amended and restated as of January 1, 2012 5% 20 720 360 5% 5% January 1, 2014, 2015, 2016, 2017. January 1, 2014 five January 1, 2019. The MMA was further renewed on January 1, 2018 five January 1, 2023 5% 685 342.5 2019 2020. In addition to the vessel management services, the Manager provides executive services to the Company. In 2017 2018 $2,000,000 $1,250,000. On November 15, 2019, $2,000,000 November 2019. 2019, $1,250,000 January 1, 2019 November 15, 2019 $2,000,000 November 16, 2019 December 31, 2019. $1,306,476, $1,561,126 $1,344,250 2017, 2018 2019, Amounts due to or from related company represent net disbursements and collections made on behalf of the vessel-owning companies by the Management Company during the normal course of operations for which a right of off-set exists. As of December 31, 2018 2019, $2,672,895 $795,562, On September 30, 2019, $2.5 8% 8 On November 1, 2019, second $2.5 8% 8 The Company uses brokers for various services, as is industry practice. Eurochart S.A., an affiliated company controlled by certain members of the Pittas family, provides vessel sale and purchase services, and chartering services to the Company whereby the Company pays commission of 1% 1.25% $70,640, $64,500 nil 2017, 2018 2019, 1% $118,526, nil nil 2017, 2018 2019, $310,467, $453,361 $493,341 2017, 2018 2019, Certain members of the Pittas family, together with another unrelated ship management company, have formed a joint venture with the insurance broker Sentinel Maritime Services Inc. (“Sentinel”); and with a crewing agent Technomar Crew Management Services Corp (“Technomar”). Technomar is a company owned by certain members of the Pittas family, together with two not 5%; $50 $89,329 $101,394 2017, $118,684 $137,385 2018, $106,749 $142,332 2019 In August 2019, four 1 $28.2 $15 2,816,901

Note 8 - Long-term Bank Loans

Note 8 - Long-term Bank Loans	12 Months Ended
Note 8 - Long-term Bank Loans	Dec. 31, 2019
Notes to Financial Statements
Long-term Debt [Text Block]	8. Long-Term Bank Loans This consists of bank loans of the ship-owning companies and is as follows: Borrower December 31, December 31, Noumea Shipping Ltd. (a) 3,341,000 - Gregos Shiping Ltd. (b) 4,150,000 - Alterwall Business Inc. / Allendale Investments S.A. / Manolis Shipping Ltd. / Joanna Maritime Ltd. / Jonathan John Shipping Ltd. / Athens Shipping Ltd. / Oinousses Navigation Ltd. / Corfu Navigation Ltd. / Bridge Shipping Ltd. / Noumea Shipping Ltd. / Gregos Shiping Ltd. (c) 30,000,000 37,650,000 Diamantis Shipowners Ltd. (d) - 3,507,220 Kea Shipowners Ltd. / Spetses Shipowners Ltd. / Hydra Shipowners Ltd. (e) - 12,050,000 Antwerp Shipping Ltd. / Busan Shipping Ltd. / Keelung Shipping Ltd. / Oakland Shipping Ltd. (f) - 32,000,000 37,491,000 85,207,220 Less: Current portion (5,212,000 ) (12,541,840 ) Long-term portion 32,279,000 72,665,380 Deferred charges, current portion 125,357 246,520 Deferred charges, long-term portion 237,848 477,595 Debt discount, current portion 216,402 - Debt discount, long-term portion 324,603 - Long-term bank loans, current portion net of deferred charges and debt discount 4,870,241 12,295,320 Long-term bank loans, long-term portion net of deferred charges and debt discount 31,716,549 72,187,785 Loan from related party, current Euroseas Ltd. (g) - 5,000,000 The future annual loan repayments are as follows: To December 31: 2020 12,541,840 2021 29,941,840 2022 8,723,540 2023 34,000,000 Total 85,207,220 (a) On December 22, 2016, $720,000 $6,360,000 December 2016. $7,080,000 January 2018. three $720,000 December 2016, July 2017 January 2018 $4,920,000 January 2018. February 27, 2018, $4,250,000 thirteen $303,000 $311,000. 3.00% first first (b) On June 15, 2017, June 19, 2017 $4,750,000 twenty sixteen $100,000 $2,750,000 $3,150,000. 2.65% first first $50,000 2017 35% $1,067,500 December 31, 2018, 35% June 2019 $950,000 $950,000 (c) On November 21, 2018, $45,000,000. $30,000,000 November 21, 2018 18 12 $900,000 $19,200,000 November 2021. may 3.90% 4.40% first first one 1 100% first may $300,000 2018 On May 30, 2019, two $12.0 55% two 4.40% 3.90% $5.0 $1.0 16 $375,000 $6,000,000 May 2023. first first $32,000 2019 The security cover ratio covenant for the facility is set to 140%. $7,350,000 December 31, 2019, 55% 2001 sixteen 50% 0.40% 1% (d) On July 29, 2019, not $4,000,000 90% July 31, 2019, $3,667,680 twelve $160,460 $1,742,160 July 2022. 3.50% first first $32,000 2019 110% first 120% (e) On July 30, 2019, $12,500,000. August 8, 2019.The fourteen $450,000 $6,200,000 February 2023. 2.95%. first first $62,500 2019 130%. (f) On November 8, 2019, $32,000,000. November 18, 2019. three $1,400,000 thirteen $800,000 $17,400,000 3.50%. first first $352,000 2019 125%. (g) On September 30, 2019, December 20,2019 March 30, 2020, $2.5 8% four $625,000 first May 15, 2020 three November 2020 . Under certain circumstances, the Company can pay principal in equity, and the loan is convertible in common stock of the Company at the option of the lender at certain times. The first $312,500 December 31, 2019 $51,111 2019. On November 1, 2019, second $2.5 8% no December 31, 2020, $33,333 2019. In addition to the terms specific to each loan described above, all the above loans are secured with a pledge of all the issued shares of each borrower. The loan agreements also contain covenants such as minimum requirements regarding the hull ratio cover (the ratio of fair value of vessel to outstanding loan less cash in retention accounts ranging from 120% 140% not $5,717,063 $4,410,376 December 31, 2018 2019, December 31, 2019, Interest expense for the years ended December 31, 2017, 2018 2019 $1,380,458, $2,703,845 $3,219,471

Note 9 - Income Taxes

Note 9 - Income Taxes	12 Months Ended
Note 9 - Income Taxes	Dec. 31, 2019
Notes to Financial Statements
Income Tax Disclosure [Text Block]	9. Income Taxes Under the laws of the countries of the companies’ incorporation and/or vessels’ registration, the companies are not Under the United States Internal Revenue Code of 1986, 4% 883 50% not Under the Code, a corporation will be exempt from U.S. federal income tax if its stock is primarily and regularly traded on an established securities market in its country of organization, in another country that grants an "equivalent exemption" to United States corporations, or in the United States, which is referred to as the “Publicly Traded Test”. Under IRS regulations, a Company’s shares will be considered to be regularly traded on an established securities market if (i) one 50% 60 one sixth 10% not 50% 5% “5% For 2017 2019 not 2% not December 31, 2017 2018 $15,135 $19,726, The amount of the 2017 September 17, 2018 2018 June 15, 2019 For the taxable years 2019 4% 5% 5% not 50%

Note 10 - Commitments and Conti

Note 10 - Commitments and Contingencies	12 Months Ended
Note 10 - Commitments and Contingencies	Dec. 31, 2019
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	10. Commitments and Contingencies (a) As of December 31, 2019 October 2009 November 2009 $0.53 $0.15 2016, may (b) On November 7, 2019, 1 4 If the 12 4,250 November 16, 2020 4:00 November 15, 2019 4:00 November 16, 2020, $500,000 20 November 16, 2020 4:00 The Company based on its assessment of future rates as of December 31, 2019, not There are no not As of December 31, 2019, $17.2 December 31, 2020. not one may not not

Note 11 - Stock Incentive Plan

Note 11 - Stock Incentive Plan	12 Months Ended
Note 11 - Stock Incentive Plan	Dec. 31, 2019
Notes to Financial Statements
Share-based Payment Arrangement [Text Block]	11. Stock Incentive Plan On July 31, 2014, 2014 “2014 May 5, 2018, “2018 2014 2018 75,000 10 2018 2018 may 2018 2014 2018 three December 31, 2019 a) On November 2, 2017 12,534 18 50% July 1, 2018 50% July 1, 2019; 7,213 5,321 b) On November 21, 2018 15,681 18 50% November 16, 2019 50% November 16, 2020; 9,021 6,660 c) On November 4, 2019 15,444 17 50% July 1, 2020 50% July 1, 2021; 8,713 6,731 All non-vested restricted shares are conditional upon the grantee’s continued service as an employee of the Company, Eurobulk or as a director until the applicable vesting date. The grantee does not The Company accounts for restricted share awards forfeitures as they occur. During 2017, 538 $22.24 No December 31, 2018 2019. The compensation cost that has been charged against income for awards was $116,562, $124,487 $97,919, December 31, 2017, 2018 2019, A summary of the status of the Company’s non-vested shares as of December 31, 2019 December 31, 2019, Non-vested Shares Shares Weighted-Average Grant-Date Fair Value Non-vested on January 1, 2019 21,948 10.16 Granted 15,444 5.84 Vested (14,108 ) 11.01 Non-vested on December 31, 2019 23,284 6.77 As of December 31, 2019, $172,887 2018 0.75 December 31, 2017, December 31, 2018, December 31, 2019 $176,475, $134,232 $90,193

Note 12 - Loss Per Share

Note 12 - Loss Per Share	12 Months Ended
Note 12 - Loss Per Share	Dec. 31, 2019
Notes to Financial Statements
Earnings Per Share [Text Block]	12. Loss Per Share Basic and diluted loss per common share is computed as follows: 2017 2018 2019 Income: Net loss, continuing operations (6,944,261 ) (663,396 ) (1,682,671 ) Dividends to Series B preferred shares (1,808,811 ) (1,335,733 ) (1,271,782 ) Preferred deemed dividend - - (504,577 ) Net loss attributable to common shareholders, continuing operations (8,753,072 ) (1,999,129 ) (3,459,030 ) Weighted average common shares –outstanding , basic and diluted 1,383,440 1,414,775 2,861,928 Basic and diluted loss per share, continuing operations (6.33 ) (1.41 ) (1.21 ) Net income attributable to common shareholders, discontinued operations 849,701 554,506 - Net loss attributable to common shareholders (7,903,371 ) (1,444,623 ) (3,459,030 ) Basic and diluted loss per share (5.72 ) (1.02 ) (1.21 ) During 2017, 2018 2019, nil 2017, 2018 2019.

Note 13 - Voyage and Vessel Ope

Note 13 - Voyage and Vessel Operating Expenses	12 Months Ended
Note 13 - Voyage and Vessel Operating Expenses	Dec. 31, 2019
Notes to Financial Statements
Vessel Voyage and Operating Expenses [Text Block]	13. Voyage and Vessel Operating Expenses These consisted of: Year ended December 31, 2017 2018 2019 Voyage expenses Port charges and canal dues 1,156,511 384,893 251,197 Bunkers 407,978 876,195 804,211 Total 1,564,489 1,261,088 1,055,408 Vessel operating expenses Crew wages and related costs 8,771,386 11,020,924 13,111,682 Insurance 1,261,976 1,537,539 1,844,088 Repairs and maintenance 643,788 1,043,632 1,110,995 Lubricants 1,169,412 1,665,849 2,029,230 Spares and consumable stores 2,391,420 3,445,422 4,758,290 Professional and legal fees 10,037 252,156 259,311 Other 771,323 1,020,648 869,686 Total 15,019,342 19,986,170 23,983,282

Note 14 - Derivative Financial

Note 14 - Derivative Financial Instruments	12 Months Ended
Note 14 - Derivative Financial Instruments	Dec. 31, 2019
Notes to Financial Statements
Derivative Instruments and Hedging Activities Disclosure [Text Block]	14. Derivative Financial Instruments Interest rate swaps Effective October 17, 2014, one $10.0 3 1.97% 0.50% November 28, 2016 0.95% November 28, 2017 3.55% May 28, 2019) The interest rate swap contract did not December 31, 2018. December 31, 2019, no Derivatives not designated as hedging instruments Balance Sheet Location December 31, 2018 December 31, 2019 Interest rate swap contract Current liabilities – Derivatives 41,435 - Total derivative liabilities 41,435 - Derivatives not designated as hedging instruments Location of gain (loss) recognized Year Ended December 31, 2017 Year Ended December 31, 2018 Year Ended December 31, 2019 Interest rate swap contract– Unrealized (loss) / gain (Gain) / loss on derivativtes, net (5,901 ) 204,647 - Interest rate swap contract - Realized gain / (loss) Gain / (loss) on derivatives, net 19,071 (201,745 ) (2,885 ) Total net gain / (loss) on interest rate swap contract 13,170 2,902 (2,885 ) Freight Forward Agreements (“FFA”) In December 2017, three first three 2018, 90 $11,000 The two The FFA contracts did not 16 FFA contracts not designated as hedging instruments Location of gain (loss) recognized Year Ended December 31, 2017 Year Ended December 31, 2018 Year Ended December 31, 2019 FFA contracts – Unrealized loss Gain / (loss) on derivatives, net (781 ) - - FFA contracts – Realized loss Gain / (loss) on derivatives, net - (47,245 ) - Total loss on FFA contracts (781 ) (47,245 ) -

Note 15 - Preferred Shares

Note 15 - Preferred Shares	12 Months Ended
Note 15 - Preferred Shares	Dec. 31, 2019
Notes to Financial Statements
Preferred Stock [Text Block]	15. Preferred shares Number of Shares Preferred Shares Amount Dividends paid-in-kind Total Balance, January 1, 2017 35,505 29,000,000 4,804,948 33,804,948 Dividends declared 1,809 - 1,808,811 1,808,811 Balance, December 31, 2017 37,314 29,000,000 6,613,759 35,613,759 Dividends declared 1,333 - 1,335,733 1,335,733 Shares distributed to EuroDry (19,042 ) (14,500,000 ) (3,692,131 ) (18,192,131 ) Balance, December 31, 2018 19,605 14,500,000 4,257,361 18,757,361 Dividends declared 81 - 78,639 78,639 Redemption of shares (11,686 ) (8,155,055 ) (3,530,945 ) (11,686,000 ) Preferred deemed dividend - 504,577 - 504,577 Balance, December 31, 2019 8,000 6,849,522 805,055 7,654,577 On January 27, 2014, 25,000 5,700 $29 $1,000 January 29, 2019 5%. The dividend rate increased to 12% two January 29, 2019 14% January 29, 2019, 40% $15.58 September 2015 fifth may At the Spin-off date Euroseas distributed EuroDry Series B Preferred Shares to holders of Euroseas' Series B Preferred Shares in exchange for a number of such Euroseas Series B Preferred Shares, representing 50% $14,500,000 $3,692,131 seven 2,254,830 19,042 100% 100% On June 10, 2019 $11.7 59.4%, 4% $8 January 2021. 14%. 1 2 $504,577, For each of the years ended December 31, 2017 2018, four $1.81 $1.34 December 31, 2019 $1.27 $0.08 $1.03 2019 $0.16 December 31, 2019 first 2020. December 31, 2019 $8,000,000. Subject to certain ownership thresholds, holders of Series B Preferred Shares have the right to appoint one one 50%

Note 16 - Financial Instruments

Note 16 - Financial Instruments	12 Months Ended
Note 16 - Financial Instruments	Dec. 31, 2019
Notes to Financial Statements
Financial Instruments Disclosure [Text Block]	16. Financial Instruments The principal financial assets of the Company consist of cash and cash equivalents, restricted cash, trade accounts receivable and other receivables. The principal financial liabilities of the Company consist of long-term bank loans, derivatives, trade accounts payable, accrued expenses and amount due to related company. Interest rate risk From time to time, the Company enters into interest rate swap contracts as economic hedges to manage some of its exposure to variability in its floating rate long term bank loans. Under the terms of the interest rate swaps the Company and the bank agree to exchange, at specified intervals the difference between a paying fixed rate and receiving floating rate interest amount calculated by reference to the agreed principal amounts and maturities. Interest rate swaps allow the Company to convert long-term borrowings issued at floating rates into equivalent fixed rates. Even though, historically, the interest rate swaps were entered into for economic hedging purposes, as noted in Note 14 not Derivatives and Hedging not December 31, 2018, one $10.0 14, May 2019 December 31, 2019 no Concentration of credit risk Financial instruments, which potentially subject the Company to significant concentration of credit risk consist primarily of cash and trade accounts receivable. The Company places its temporary cash investments, consisting mostly of deposits, with high credit qualified financial institutions. The Company performs periodic evaluation of the relative credit standing of these financial institutions that are considered in the Company’s investment strategy. The Company limits its credit risk with trade accounts receivable by performing ongoing credit evaluations of its customers’ financial condition and generally does not Fair value of financial instruments The Company follows guidance relating to “Fair value measurements”, which establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosure about fair value measurements. This statement enables the reader of the financial statements to assess the inputs used to develop those measurements by establishing a hierarchy for ranking the quality and reliability of the information used to determine fair values. The statement requires that assets and liabilities carried at fair value will be classified and disclosed in one three Level 1: Level 2: Level 3: not The fair value of the Company’s investments in FFA contracts are determined based on quoted prices in active markets and therefore are considered Level 1 The fair value of the Company’s interest rate swap agreements is determined using a discounted cash flow approach based on market-based LIBOR swap rates. LIBOR swap rates are observable at commonly quoted intervals for the full terms of the swaps and therefore are considered Level 2 2 Recurring Fair Value Measurements Fair Value Measurement as of December 31, 2018 Total, (Level 1) (Level 2) (Level 3) Liabilities Interest rate swap contract, current portion $ 41,435 - $ 41,435 - Asset Measured at Fair Value on a Non-recurring Basis On June 15, 2017, 35% $1,067,500 December 31, 2018, 2, June 2019 8 $950,000. As of September 30, 2017 $8.23 $5.0 $0.10 $3.33 2. As of September 30, 2017 $5.39 $4.3 $0.17 $1.26 2. Asset Measured at Fair Value on a Non-recurring Basis - continued Nonrecurring Fair Value Measurements at Reporting Date December 31, 2017 Fair Value Level 1 Level 2 Level 3 Loss 2017 Vessel profit participating liability $1,297,100 - $1,297,100 - - Vessels held for sale $5,000,000 - $5,000,000 - $4,595,819 December 31, 2018 Fair Value Level 1 Level 2 Level 3 Loss 2018 Vessel profit participating liability $1,067,500 - $1,067,500 - - December 31, 2019 Fair Value Level 1 Level 2 Level 3 Loss 2019 Vessel profit participating liability - - - - - The estimated fair values of the Company’s financial instruments such as cash and cash equivalents and restricted cash approximate their individual carrying amounts as of December 31, 2018 2019, 1 $87.1 December 31, 2019 $3.1 $90.2 2

Note 17 - Discontinued Operatio

Note 17 - Discontinued Operations	12 Months Ended
Note 17 - Discontinued Operations	Dec. 31, 2019
Notes to Financial Statements
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]	17. Discontinued Operations Following the close of trading on the Nasdaq Capital Market on May 30, 2018, 1 . The revenue and loss for the discontinued operations for the periods ended December 31, 2017, 2018 2019 Year Ended December 31 (discontinued operations) 2017 2018 2019 Statement of Operations Data Voyage revenue 20,280,215 25,934,204 - Commissions (including, $253,503, $324,178 and nil respectively, to related party) (1,122,196 ) (1,411,333 ) - Voyage expenses (2,396,318 ) (410,676 ) - Vessel operating expenses (including, $102,131, $115,026 and nil, respectively, to related party) (6,892,388 ) (9,183,152 ) - Drydocking expenses (127,509 ) (1,465,079 ) - Related party management fees (1,409,716 ) (1,701,340 ) - Vessel depreciation (4,786,272 ) (5,422,155 ) - General and administrative expenses (including $693,524, $731,456 and nil, respectively, to related party) (917,160 ) (2,346,502 ) - Operating income 2,628,656 3,993,967 - Total other expenses, net (1,778,955 ) (2,874,232 ) - Net income 849,701 1,119,735 - Dividend Series B Preferred Shares - (565,229 ) - Net income attributable to common shareholders 849,701 554,506 - Euroseas contributed to EuroDry its interests in seven 2,254,830 19,042 May 30, 2018). Up to the Spin-off date, Euroseas had contributed to EuroDry an amount of $52.52 $9.66 $42.86

Note 18 - Common Stock

Note 18 - Common Stock	12 Months Ended
Note 18 - Common Stock	Dec. 31, 2019
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	18. Common Stock As per the Company’s Amended and Restated Articles of Incorporation, the Company is authorized to issue 200,000,000 $0.03 Each outstanding share of common stock is entitled to one may may not may During January 2017, December 20, 2016, January 13, 2017, 37,723 $0.6 In addition, during the year ended December 31, 2017, 12,534 11 During November 2018, December 20, 2016, January 13, 2017 October 30, 2018, 139,509 $2.0 In addition, during the year ended December 31, 2018, 15,681 11 During October 2019, December 20, 2016, January 13, 2017, October 30, 2018 May 30, 2019, 144,727 $0.9 As further discussed in Note 1, December 31, 2019, 2,816,901 1,056,338 In addition, during the year ended December 31, 2019, 15,444 11 On December 19, 2019, 1 8 December 18, 2019. December 19, 2019.

Note 19 - Subsequent Events

Note 19 - Subsequent Events	12 Months Ended
Note 19 - Subsequent Events	Dec. 31, 2019
Notes to Financial Statements
Subsequent Events [Text Block]	19. Subsequent Events The following events occurred after December 31, 2019: (a) In January 2020, may (b) In February 2020, April 7, 2020, not 19 not (c) In April 2020, one $30.0 3 0.78% April 24, 2020 April 24, 2025. (d) Coronavirus Outbreak: March 11, 2020, 2019 19” 19 may

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
Significant Accounting Policies (Policies)	Dec. 31, 2019
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	Principles of consolidation The accompanying consolidated financial statements include the accounts of Euroseas Ltd. and its subsidiaries. Inter-company balances and transactions are eliminated on consolidation.
Use of Estimates, Policy [Policy Text Block]	Use of estimates The preparation of the accompanying consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosures of contingent assets and liabilities at the date of the consolidated financial statements, and the stated amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Comprehensive Income, Policy [Policy Text Block]	Other comprehensive income / (loss) The Company has no no
Foreign Currency Transactions and Translations Policy [Policy Text Block]	Foreign currency translation The Company’s functional currency as well as the functional currency of all its subsidiaries is the U.S. dollar. Assets and liabilities denominated in foreign currencies are translated into U.S. dollars at exchange rates prevailing at the balance sheet date. Income and expenses denominated in foreign currencies are translated into U.S. dollars at exchange rates prevailing at the date of the transaction. The resulting exchange gains and/or losses on settlement or translation are included in the accompanying consolidated statements of operations.
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash equivalents Cash equivalents are cash in bank accounts, time deposits or other certificates purchased with an original maturity of three
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]	Restricted cash Restricted cash reflects deposits with certain banks that can only be used to pay the current loan installments or are required to be maintained as a certain minimum cash balance per mortgaged vessel and amounts that are pledged, blocked or held as cash collateral.
Accounts Receivable [Policy Text Block]	Trade accounts receivable The amount shown as trade accounts receivable, at each balance sheet date, includes estimated recoveries from each voyage or time charter. At each balance sheet date, the Company provides for doubtful accounts on the basis of specific identified doubtful receivables.
Inventory, Policy [Policy Text Block]	Inventories Inventories are stated at the lower of cost and net realizable value, which is the estimated selling prices less reasonably predictable costs of disposal and transportation. Inventories are valued using the FIFO (First-In First-Out) method.
Vessels [Policy Text Block]	Vessels Vessels are stated at cost, which comprises the vessel contract price, costs of major repairs and improvements upon acquisition, direct delivery and other acquisition expenses, less accumulated depreciation and impairment, if any. Subsequent expenditures for conversions and major improvements are also capitalized when they appreciably extend the life, increase the earning capacity or improve the efficiency or safety of the vessels; otherwise these amounts are charged to expense as incurred. Vessels under construction are presented at cost, which includes shipyard installment payments and other vessel costs incurred during the construction period that are directly attributable to the construction of the vessels, including interest costs incurred during the construction period. Expenditures for vessel repair and maintenance are charged against income in the period incurred.
Assets Held For Sale [Policy Text Block]	Assets Held for Sale The Company may one Long-lived assets classified as held for sale are measured at the lower of their carrying amount or fair value less the cost to sell the asset. These assets are no
Depreciation, Depletion, and Amortization [Policy Text Block]	Depreciation Depreciation is calculated on a straight line basis over the estimated useful life of the vessel with reference to the cost of the vessel, and estimated scrap value. Remaining useful lives of vessels are periodically reviewed and revised to recognize changes in conditions and such revisions, if any, are recognized over current and future periods. The Company estimates that its vessels have a useful life of 25 $0.25 December 31, 2019 2018,
Insurance Premiums Revenue Recognition, Policy [Policy Text Block]	Insurance claims and insurance proceeds Claims receivable are recorded on the accrual basis and represent the amounts to be received, net of deductibles incurred through each balance sheet date, for which recovery from insurance companies is probable and the claim is not
Revenue [Policy Text Block]	Revenue and expense recognition Revenues are generated from time charters and voyage charters. Under a time charter agreement a contract is entered into for the use of a vessel for a specific period of time and a specified daily charter hire rate. Under a voyage charter agreement, a contract is made in the spot market for the use of a vessel for a specific voyage to transport a specified agreed upon cargo at a specified freight rate per ton or occasionally a lump sum amount. Under a voyage charter agreement, the charter party generally has a minimum amount of cargo and the charterer is liable for any short loading of cargo or "dead" freight. In February 2016, No. 2016 02, 842 842 842, not 842 842 not component is the same as those for the non-lease component associated with that lease component and (ii) the lease component, if accounted for separately, would be classified as an operating lease. ASC 842 December 15, 2018, 842 January 1, 2019 not A time charter is a contract for the use of a vessel for a specific period of time and a specified daily charter hire rate, which is generally payable in advance. Time charter revenue is recognized when a charter agreement exists, the vessel is made available to the charterer and collection of the related revenue is reasonably assured. As of December 31, 2019, one 12 8 23 842, not As discussed above, the transition guidance associated with ASC 842 not 842. Both the lease component and non-lease component are earned by the passage of time. Since lessor accounting remains largely unchanged from previous U.S. GAAP, upon adoption of ASC 842, not December 31, 2017, 2018 2019. Voyage charter agreements are considered service contracts that fall under the provisions of ASC 606, 842 not not one Demurrage income is included in Voyage charter revenues, represents revenue earned from the charterer when loading or discharging time exceeded the stipulated time in the voyage charter agreement and is recognized when earned and collection is reasonably assured. Demurrage income for the years ended December 31, 2017, 2018 2019 not Charter fees received in advance are recorded as a liability (deferred revenue) until charter services are rendered. Vessel operating expenses are comprised of all expenses relating to the operation of the vessels, including crewing, insurance, repairs and maintenance, stores, lubricants, spares and consumables, professional and legal fees and miscellaneous expenses. Vessel operating expenses are recognized as incurred; payments in advance of services or use are recorded as prepaid expenses. Under voyage charter agreements, voyage expenses relate to bunkers, port charges, canal tolls, and agency fees and are all paid by the Company. Costs incurred prior to loading which are directly related to the voyage are deferred by the Company if they meet certain conditions, and are amortized over the duration of the voyage from load port to discharge port. Costs incurred during the voyage are expensed as incurred. Under time charter agreements, voyage expenses which are also recognized as incurred by the Company include costs for draft surveys, holds cleaning, postage, extra war risk insurance and other minor miscellaneous expenses related to the voyage. The charterer is responsible for paying the cost of bunkers and other voyage expenses whilst the vessel is on time charter. Certain voyage expenses paid by the Company, such as extra war risk insurance and holds cleaning may Commissions (address and brokerage), regardless of charter type, are always paid by the Company, are deferred and amortized over the related charter period and are presented as a separate line item in revenues to arrive at net revenues in the accompanying consolidated statements of operations.
Drydocking and Special Survey Expenses [Policy Text Block]	Dry-docking and special survey expenses Dry-docking and special survey expenses are expensed as incurred.
Pension and Other Postretirement Plans, Policy [Policy Text Block]	Pension and retirement benefit obligations – crew The ship-owning companies contract the crews on board the vessels under short-term contracts (usually up to 9 not
Financing Receivable [Policy Text Block]	Financing costs Loan arrangement fees are deferred and amortized to interest expense over the duration of the underlying loan using the effective interest method. Unamortized fees relating to loans repaid or refinanced are expensed in the period the repayment or refinancing occurs.
Offering Expenses [Policy Text Block]	Offering expenses Deferred offering expenses are charged against paid-in capital when financing is completed or expensed to “General and administrative expenses” in the consolidated statements of operations when the offering is aborted.
Fair Value Measurement, Policy [Policy Text Block]	Fair value of above/below market time charters acquired The Company records all identified tangible and intangible assets or any liabilities associated with the acquisition of a vessel at fair value. Where vessels are acquired with existing time charters, the Company determines the present value of the difference between: (i) the contractual charter rate and (ii) the prevailing market rate for a charter of equivalent duration. In discounting the charter rate differences in future periods, the Company uses its Weighted Average Cost of Capital (WACC) adjusted to account for the credit quality of the counterparties, as deemed necessary. The capitalized above-market (assets) and below-market (liabilities) charters are amortized as a reduction and increase, respectively, to time charter revenues over the remaining term of the assumed time charter.
Share-based Payment Arrangement [Policy Text Block]	Stock incentive plan awards Share-based compensation represents vested and non-vested restricted shares granted to officers and directors as well as to non-employees and are included in “General and administrative expenses” in the consolidated statements of operations. In June 2018, 2018 07, 718 2018 07 not
Impairment or Disposal of Long-Lived Assets, Including Intangible Assets, Policy [Policy Text Block]	Impairment of long-lived assets The Company reviews its long-lived assets held for use and their related intangible assets and liabilities for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not
Derivatives, Policy [Policy Text Block]	Derivative financial instruments Derivative instruments are recorded in the balance sheet as either an asset or liability measured at its fair value with changes in the instruments' fair value recognized as either a component in other comprehensive income if specific hedge accounting criteria are met in accordance with guidance relating to “Derivatives and Hedging” or in earnings if hedging criteria are not
Stockholders' Equity Note, Redeemable Preferred Stock, Issue, Policy [Policy Text Block]	Preferred shares Preferred shares are recorded at the initial consideration received less offering expenses and adjusted by including the redemption value of dividends paid in-kind. The Company recognizes changes in the redemption value of the preferred shares immediately as they occur and adjusts the carrying amount of the preferred shares to equal the redemption value at the end of each reporting period to that effect.
Purchase Transactions [Policy Text Block]	Evaluation of purchase transactions When the Company enters into an acquisition transaction, it determines whether the acquisition transaction was for the purchase of an asset or a business based on the facts and circumstances of the transaction. In accordance with ASU No. 2017 01, 805 not
Earnings Per Share, Policy [Policy Text Block]	Earnings / (loss) per common share Basic earnings / (loss) per share is computed by dividing net income / (loss) attributable to common shareholders, after the deduction of dividends paid (in cash or in-kind) to preferred shareholders, by the weighted-average number of common shares outstanding during the period. The weighted-average number of common shares outstanding does not December 31, 2018 2019, not Diluted earnings / (loss) per share gives effect to all potentially dilutive securities to the extent that they are dilutive, using the treasury stock method. The Company uses the treasury stock method for non-vested restricted shares, while for the preferred shares issued the Company uses the if-converted method to assess the dilutive effect.
Segment Reporting, Policy [Policy Text Block]	Segment reporting The Company reports financial information and evaluates its operations by charter revenue and not not not one
New Accounting Pronouncements, Policy [Policy Text Block]	Recent accounting pronouncements In June 2016, 2016 13, 326 November 2018, 2018 19 326, not 326 20 842. December 15, 2019, not In August 2018, 2018 13, 820 820, December 15, 2019. 3 not

Note 1 - Basis of Presentatio_2

Note 1 - Basis of Presentation and General Information (Tables)	12 Months Ended
	Dec. 31, 2019
Notes Tables
Schedules of Concentration of Risk, by Risk Factor [Table Text Block]	Year ended December 31, Charterer 2017 2018 2019 CMA CGM, Marseille 34 % 51 % 24 % New Golden Sea Shipping Pte. Ltd., Singapore 31 % 33 % 21 % Hapag-Lloyd AG, Hamburg - - 16 % MSC Geneva 17 % 11 % 15 % Maersk Line A/S - - 11 %

Note 3 - Inventories (Tables)

Note 3 - Inventories (Tables)	12 Months Ended
Note 3 - Inventories (Tables)	Dec. 31, 2019
Notes Tables
Schedule of Inventory, Current [Table Text Block]	2018 2019 Lubricants 1,043,763 1,728,861 Victualing 79,965 160,303 Bunkers 580,663 - Total 1,704,391 1,889,164

Note 4 - Vessels, Net (Tables)

Note 4 - Vessels, Net (Tables)	12 Months Ended
Note 4 - Vessels, Net (Tables)	Dec. 31, 2019
Notes Tables
Property, Plant and Equipment [Table Text Block]	Balance, January 1, 2018 61,279,976 (9,147,897 ) 52,132,079 - Depreciation for the year - (3,305,951 ) (3,305,951 ) Balance, December 31, 2018 61,279,976 (12,453,848 ) 48,826,128 - Depreciation for the year - (4,178,886 ) (4,178,886 ) - Vessel acquisitions 71,214,470 - 71,214,470 - Vessel improvements 368,621 - 368,621 Balance, December 31, 2019 132,863,067 (16,632,734 ) 116,230,333

Note 5 - Accrued Expenses (Tabl

Note 5 - Accrued Expenses (Tables)	12 Months Ended
Note 5 - Accrued Expenses (Tables)	Dec. 31, 2019
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	As of December 31, 2018 As of December 31, 2019 Accrued payroll expenses 93,404 231,093 Accrued interest expense 565,623 590,216 Accrued general and administrative expenses 348,761 111,720 Accrued commissions 39,545 67,682 Other accrued expenses 254,472 724,610 Total 1,301,805 1,725,321

Note 8 - Long-term Bank Loans (

Note 8 - Long-term Bank Loans (Tables)	12 Months Ended
Note 8 - Long-term Bank Loans (Tables)	Dec. 31, 2019
Notes Tables
Schedule of Long-term Debt Instruments [Table Text Block]	Borrower December 31, December 31, Noumea Shipping Ltd. (a) 3,341,000 - Gregos Shiping Ltd. (b) 4,150,000 - Alterwall Business Inc. / Allendale Investments S.A. / Manolis Shipping Ltd. / Joanna Maritime Ltd. / Jonathan John Shipping Ltd. / Athens Shipping Ltd. / Oinousses Navigation Ltd. / Corfu Navigation Ltd. / Bridge Shipping Ltd. / Noumea Shipping Ltd. / Gregos Shiping Ltd. (c) 30,000,000 37,650,000 Diamantis Shipowners Ltd. (d) - 3,507,220 Kea Shipowners Ltd. / Spetses Shipowners Ltd. / Hydra Shipowners Ltd. (e) - 12,050,000 Antwerp Shipping Ltd. / Busan Shipping Ltd. / Keelung Shipping Ltd. / Oakland Shipping Ltd. (f) - 32,000,000 37,491,000 85,207,220 Less: Current portion (5,212,000 ) (12,541,840 ) Long-term portion 32,279,000 72,665,380 Deferred charges, current portion 125,357 246,520 Deferred charges, long-term portion 237,848 477,595 Debt discount, current portion 216,402 - Debt discount, long-term portion 324,603 - Long-term bank loans, current portion net of deferred charges and debt discount 4,870,241 12,295,320 Long-term bank loans, long-term portion net of deferred charges and debt discount 31,716,549 72,187,785 Loan from related party, current Euroseas Ltd. (g) - 5,000,000
Schedule of Future Annual Loan Repayments [Table Text Block]	To December 31: 2020 12,541,840 2021 29,941,840 2022 8,723,540 2023 34,000,000 Total 85,207,220

Note 11 - Stock Incentive Plan

Note 11 - Stock Incentive Plan (Tables)	12 Months Ended
Note 11 - Stock Incentive Plan (Tables)	Dec. 31, 2019
Notes Tables
Schedule of Nonvested Share Activity [Table Text Block]	Non-vested Shares Shares Weighted-Average Grant-Date Fair Value Non-vested on January 1, 2019 21,948 10.16 Granted 15,444 5.84 Vested (14,108 ) 11.01 Non-vested on December 31, 2019 23,284 6.77

Note 12 - Loss Per Share (Table

Note 12 - Loss Per Share (Tables)	12 Months Ended
Note 12 - Loss Per Share (Tables)	Dec. 31, 2019
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	2017 2018 2019 Income: Net loss, continuing operations (6,944,261 ) (663,396 ) (1,682,671 ) Dividends to Series B preferred shares (1,808,811 ) (1,335,733 ) (1,271,782 ) Preferred deemed dividend - - (504,577 ) Net loss attributable to common shareholders, continuing operations (8,753,072 ) (1,999,129 ) (3,459,030 ) Weighted average common shares –outstanding , basic and diluted 1,383,440 1,414,775 2,861,928 Basic and diluted loss per share, continuing operations (6.33 ) (1.41 ) (1.21 ) Net income attributable to common shareholders, discontinued operations 849,701 554,506 - Net loss attributable to common shareholders (7,903,371 ) (1,444,623 ) (3,459,030 ) Basic and diluted loss per share (5.72 ) (1.02 ) (1.21 )

Note 13 - Voyage and Vessel O_2

Note 13 - Voyage and Vessel Operating Expenses (Tables)	12 Months Ended
Note 13 - Voyage and Vessel Operating Expenses (Tables)	Dec. 31, 2019
Notes Tables
Schedule of Voyage Vessel Operating Expenses and Commissions [Table Text Block]	Year ended December 31, 2017 2018 2019 Voyage expenses Port charges and canal dues 1,156,511 384,893 251,197 Bunkers 407,978 876,195 804,211 Total 1,564,489 1,261,088 1,055,408 Vessel operating expenses Crew wages and related costs 8,771,386 11,020,924 13,111,682 Insurance 1,261,976 1,537,539 1,844,088 Repairs and maintenance 643,788 1,043,632 1,110,995 Lubricants 1,169,412 1,665,849 2,029,230 Spares and consumable stores 2,391,420 3,445,422 4,758,290 Professional and legal fees 10,037 252,156 259,311 Other 771,323 1,020,648 869,686 Total 15,019,342 19,986,170 23,983,282

Note 14 - Derivative Financia_2

Note 14 - Derivative Financial Instruments (Tables)	12 Months Ended
Note 14 - Derivative Financial Instruments (Tables)	Dec. 31, 2019
Notes Tables
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]	Derivatives not designated as hedging instruments Balance Sheet Location December 31, 2018 December 31, 2019 Interest rate swap contract Current liabilities – Derivatives 41,435 - Total derivative liabilities 41,435 -
Derivative Instruments, Gain (Loss) [Table Text Block]	Derivatives not designated as hedging instruments Location of gain (loss) recognized Year Ended December 31, 2017 Year Ended December 31, 2018 Year Ended December 31, 2019 Interest rate swap contract– Unrealized (loss) / gain (Gain) / loss on derivativtes, net (5,901 ) 204,647 - Interest rate swap contract - Realized gain / (loss) Gain / (loss) on derivatives, net 19,071 (201,745 ) (2,885 ) Total net gain / (loss) on interest rate swap contract 13,170 2,902 (2,885 ) FFA contracts not designated as hedging instruments Location of gain (loss) recognized Year Ended December 31, 2017 Year Ended December 31, 2018 Year Ended December 31, 2019 FFA contracts – Unrealized loss Gain / (loss) on derivatives, net (781 ) - - FFA contracts – Realized loss Gain / (loss) on derivatives, net - (47,245 ) - Total loss on FFA contracts (781 ) (47,245 ) -

Note 15 - Preferred Shares (Tab

Note 15 - Preferred Shares (Tables)	12 Months Ended
Note 15 - Preferred Shares (Tables)	Dec. 31, 2019
Notes Tables
Schedule of Stockholders Equity [Table Text Block]	Number of Shares Preferred Shares Amount Dividends paid-in-kind Total Balance, January 1, 2017 35,505 29,000,000 4,804,948 33,804,948 Dividends declared 1,809 - 1,808,811 1,808,811 Balance, December 31, 2017 37,314 29,000,000 6,613,759 35,613,759 Dividends declared 1,333 - 1,335,733 1,335,733 Shares distributed to EuroDry (19,042 ) (14,500,000 ) (3,692,131 ) (18,192,131 ) Balance, December 31, 2018 19,605 14,500,000 4,257,361 18,757,361 Dividends declared 81 - 78,639 78,639 Redemption of shares (11,686 ) (8,155,055 ) (3,530,945 ) (11,686,000 ) Preferred deemed dividend - 504,577 - 504,577 Balance, December 31, 2019 8,000 6,849,522 805,055 7,654,577

Note 16 - Financial Instrumen_2

Note 16 - Financial Instruments (Tables)	12 Months Ended
Note 16 - Financial Instruments (Tables)	Dec. 31, 2019
Notes Tables
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]	Fair Value Measurement as of December 31, 2018 Total, (Level 1) (Level 2) (Level 3) Liabilities Interest rate swap contract, current portion $ 41,435 - $ 41,435 -
Fair Value Measurements, Nonrecurring [Table Text Block]	December 31, 2017 Fair Value Level 1 Level 2 Level 3 Loss 2017 Vessel profit participating liability $1,297,100 - $1,297,100 - - Vessels held for sale $5,000,000 - $5,000,000 - $4,595,819 December 31, 2018 Fair Value Level 1 Level 2 Level 3 Loss 2018 Vessel profit participating liability $1,067,500 - $1,067,500 - - December 31, 2019 Fair Value Level 1 Level 2 Level 3 Loss 2019 Vessel profit participating liability - - - - -

Note 17 - Discontinued Operat_2

Note 17 - Discontinued Operations (Tables)	12 Months Ended
Note 17 - Discontinued Operations (Tables)	Dec. 31, 2019
Notes Tables
Disposal Groups, Including Discontinued Operations [Table Text Block]	Year Ended December 31 (discontinued operations) 2017 2018 2019 Statement of Operations Data Voyage revenue 20,280,215 25,934,204 - Commissions (including, $253,503, $324,178 and nil respectively, to related party) (1,122,196 ) (1,411,333 ) - Voyage expenses (2,396,318 ) (410,676 ) - Vessel operating expenses (including, $102,131, $115,026 and nil, respectively, to related party) (6,892,388 ) (9,183,152 ) - Drydocking expenses (127,509 ) (1,465,079 ) - Related party management fees (1,409,716 ) (1,701,340 ) - Vessel depreciation (4,786,272 ) (5,422,155 ) - General and administrative expenses (including $693,524, $731,456 and nil, respectively, to related party) (917,160 ) (2,346,502 ) - Operating income 2,628,656 3,993,967 - Total other expenses, net (1,778,955 ) (2,874,232 ) - Net income 849,701 1,119,735 - Dividend Series B Preferred Shares - (565,229 ) - Net income attributable to common shareholders 849,701 554,506 -

Note 1 - Basis of Presentatio_3

Note 1 - Basis of Presentation and General Information (Details Textual)	Feb. 01, 2021	Dec. 19, 2019	Dec. 18, 2019	Nov. 21, 2019USD ($)$ / shares	Nov. 08, 2019USD ($)	Jul. 29, 2019USD ($)	Jun. 10, 2019	Jan. 31, 2021	Aug. 31, 2019USD ($)shares	Dec. 31, 2019USD ($)shares	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	May 30, 2018shares
Shareholders Ownership, Percentage										62.00%
Spinoff Transaction, Number of Eurodry Common Share Received by Company’s Shareholders for Every Five Common Shares (in shares) \| shares													1
Spinoff Transaction, Number of Company’s Common Shares Exchanged for Each Common Share of Eurodry (in shares) \| shares													5
Payments to Acquire Property, Plant, and Equipment, Total										$ 55,720,226	$ 1,867	$ 30,063,480
Proceeds from Issuance of Long-term Debt, Total									$ 16,167,680
Working Capital Surplus										18,600,000
Net Cash Provided by (Used in) Operating Activities, Continuing Operations, Total										3,240,429	$ (1,474,830)	$ 5,053,025
Cash, Ending Balance										1,000,000
Restricted Cash and Cash Equivalents, Total										$ 4,900,000
Series B Preferred Stock [Member]
Preferred Stock, Dividend Rate, Percentage							4.00%			8.00%
Series B Preferred Stock [Member] \| Forecast [Member]
Preferred Stock, Dividend Rate, Percentage	14.00%							14.00%
Reverse Stock Split [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio		8	8
Piraeus Bank S.A. [Member]
Proceeds from Issuance of Long-term Debt, Total						$ 3,667,680
Piraeus Bank S.A. [Member] \| Second Debt Agreement [Member]
Proceeds from Issuance of Long-term Debt, Total					$ 32,000,000
Four Feeder Containerships [Member]
Number of Vessels Acquired									4
Consideration to Acquire Property, Plant and Equipment									$ 28,200,000
Payments to Acquire Property, Plant, and Equipment, Total									$ 15,000,000
Stock Issued During Period, Shares, Purchase of Assets (in shares) \| shares									2,816,901	2,816,901
Shares Issued, Percent of Outsanding Shares of the Company									64.30%
Synergy Vessels [Member]
Payments to Acquire Property, Plant, and Equipment, Total				$ 2,000,000
Stock Issued During Period, Shares, Purchase of Assets (in shares) \| shares										1,056,338
Vessels Acquired During the Period				4
Proceeds from Issuance of Private Placement				$ 6,000,000
Shares Issued, Price Per Share (in dollars per share) \| $ / shares				$ 5.68
Acquisition of Property, Plant and Equipment, Contingent Shares Issuable				$ 500,000
Synergy Vessels [Member] \| Piraeus Bank S.A. [Member] \| Second Debt Agreement [Member]
Proceeds from Issuance of Debt				$ 32,000,000

Note 1 - Basis of Presentatio_4

Note 1 - Basis of Presentation and General Information - Charterers Individually Accounted for More than 10% of the Company's Voyage and Time Charter Revenues (Details) - Revenue Benchmark [Member] - Customer Concentration Risk [Member]	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Charterer CMA [Member]
Concentration Risk, Percentage	24.00%	51.00%	34.00%
Charterer GSS [Member]
Concentration Risk, Percentage	21.00%	33.00%	31.00%
Hapag-Lloyd AG [Member]
Concentration Risk, Percentage	16.00%
Charterer MSC [Member]
Concentration Risk, Percentage	15.00%	11.00%	17.00%
Maersk Line A/S [Member]
Concentration Risk, Percentage	11.00%

Note 2 - Significant Accounti_2

Note 2 - Significant Accounting Policies (Details Textual)	12 Months Ended
Note 2 - Significant Accounting Policies (Details Textual)	Dec. 31, 2019	Dec. 31, 2018
Estimated Salvage Value Per Light Weight Ton of Vessel	0.25	0.25
Ship Owning Crew Contract Term (Day)	9 days
Number of Reportable Segments	1
Vessels [Member]
Property, Plant and Equipment, Useful Life (Year)	25 years

Note 3 - Inventories - Summary

Note 3 - Inventories - Summary of Inventories (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Inventory	$ 1,889,164	$ 1,704,391
Lubricant [Member]
Inventory	1,728,861	1,043,763
Victualing [Member]
Inventory	160,303	79,965
Bunkers [Member]
Inventory		$ 580,663

Note 4 - Vessels, Net (Details

Note 4 - Vessels, Net (Details Textual) - USD ($)

Nov. 21, 2019

Nov. 19, 2019

Nov. 18, 2019

Aug. 07, 2019

Aug. 02, 2019

Jun. 25, 2018

Dec. 21, 2017

Dec. 06, 2017

Oct. 29, 2017

Oct. 23, 2017

Sep. 30, 2017

Sep. 29, 2017

Jun. 20, 2017

Jan. 13, 2017

Jan. 31, 2017

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Cost for Improvements of Vessels

$ 370,000

Proceeds from Sale of Property, Plant, and Equipment, Total

$ 6,255,735

$ 9,552,260

Gain (Loss) on Disposition of Property Plant Equipment, Total

1,340,952

803,811

Asset Impairment Charges, Total

4,595,819

Payments to Acquire Property, Plant, and Equipment, Total

$ 55,720,226

$ 1,867

30,063,480

M/V Aggeliki P. and M/V Monika P. [Member]

Asset Impairment Charges, Total

$ 4,600,000

Impairment Effect on Earnings Per Share, Pretax (in dollars per share)

$ 3.36

M/V Aggeliki P. [Member]

Gain (Loss) on Disposition of Property Plant Equipment, Total

$ 300,000

M/V Monika P. [Member]

Gain (Loss) on Disposition of Property Plant Equipment, Total

$ 1,340,000

M/V RT Dagr [Member]

Proceeds from Sale of Property, Plant, and Equipment, Total

$ 2,300,000

Gain (Loss) on Disposition of Property Plant Equipment, Total

$ 500,000

M/V Aggeliki P. [Member]

Proceeds from Sale of Property, Plant, and Equipment, Total

$ 4,400,000

Asset Impairment Charges, Total

$ (1,260,000)

M/V EM Astoria [Member]

Payments to Acquire Property, Plant, and Equipment, Total

$ 4,750,000

MV EM Athens [Member]

Payments to Acquire Property, Plant, and Equipment, Total

$ 4,240,000

M/V EM Oinousses [Member]

Payments to Acquire Property, Plant, and Equipment, Total

$ 4,250,000

M/V EM Corfu [Member]

Payments to Acquire Property, Plant, and Equipment, Total

$ 5,660,000

M/V Akinada Bridge [Member]

Payments to Acquire Property, Plant, and Equipment, Total

$ 11,120,000

M/V EM Hydra [Member]

Payments to Acquire Property, Plant, and Equipment, Total

$ 6,730,000

M/V Diamantis [Member]

Payments to Acquire Property, Plant, and Equipment, Total

$ 5,220,000

EM Kea [Member]

Payments to Acquire Property, Plant, and Equipment, Total

$ 9,480,000

EM Spetses [Member]

Payments to Acquire Property, Plant, and Equipment, Total

$ 7,570,000

M/V Synergy Antwerp [Member]

Payments to Acquire Property, Plant, and Equipment, Total

$ 10,110,000

M/V Synergy Keelung [Member]

Payments to Acquire Property, Plant, and Equipment, Total

$ 11,440,000

M/V Synergy Oakland [Member]

Payments to Acquire Property, Plant, and Equipment, Total

$ 10,500,000

M/V Synergy Busan [Member]

Payments to Acquire Property, Plant, and Equipment, Total

$ 10,170,000

Note 4 - Vessels, Net - Summary

Note 4 - Vessels, Net - Summary of Vessels (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Net book value	$ 48,826,128
- Depreciation for the year	(4,178,886)	$ (3,305,951)	$ (3,585,965)
- Vessel improvements	370,000
Net book value	116,230,333	48,826,128
Vessels [Member]
Costs	61,279,976	61,279,976
Accumulated depreciation	(12,453,848)	(9,147,897)
Net book value	48,826,128	52,132,079
- Depreciation for the year	(4,178,886)	(3,305,951)
- Vessel acquisitions	71,214,470
- Vessel improvements	368,621
Costs	132,863,067	61,279,976	61,279,976
Accumulated depreciation	(16,632,734)	(12,453,848)	(9,147,897)
Net book value	$ 116,230,333	$ 48,826,128	$ 52,132,079

Note 5 - Accrued Expenses - Sum

Note 5 - Accrued Expenses - Summary of Accrued Expenses (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Accrued payroll expenses	$ 231,093	$ 93,404
Accrued interest expense	590,216	565,623
Accrued general and administrative expenses	111,720	348,761
Accrued commissions	67,682	39,545
Other accrued expenses	724,610	254,472
Total	$ 1,725,321	$ 1,301,805

Note 6 - Fair Value of Below _2

Note 6 - Fair Value of Below Market Time Charters Acquired (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Aug. 31, 2019
Amortization of fair value of below market time charters acquired	$ 857,945
Below Market Time Charters Acquired, Noncurrent	$ 1,714,370
Fair Value, Inputs, Level 2 [Member] \| EM Hydra, EM Kea and EM Spetses [Member]
Below Market Time Charters, Fair Value				$ 778,287
Fair Value, Inputs, Level 2 [Member] \| Synergy Keelung, Synergy Oakland and Synergy Busan [Member]
Below Market Time Charters, Fair Value				$ 1,794,028

Note 7 - Related Party Transa_2

Note 7 - Related Party Transactions (Details Textual)	Jan. 01, 2018	Jan. 01, 2011	Aug. 31, 2019USD ($)shares	Dec. 31, 2019USD ($)	Nov. 15, 2019USD ($)	Dec. 31, 2019USD ($)shares	Dec. 31, 2019EUR (€)shares	Dec. 31, 2018USD ($)	Dec. 31, 2018EUR (€)	Dec. 31, 2017USD ($)	Dec. 31, 2017EUR (€)	Dec. 31, 2018USD ($)	Nov. 01, 2019USD ($)	Sep. 30, 2019USD ($)
Service Management Costs Daily Fee Related Party \| €							€ 685		€ 685		€ 685
Related Party Agreement Term (Year)	5 years	5 years
Related Party Transaction Discount Percentage	5.00%
Related Party Transaction Daily Fee Per Vessel Per Day in Operation						$ 720
Related Party Transaction Daily Fee Per Vessel Per Day in Lay Up						360	€ 342.50
Due to Related Parties, Total				$ 795,562		795,562		$ 2,672,895				$ 2,672,895
Payments to Acquire Property, Plant, and Equipment, Total						$ 55,720,226		1,867		$ 30,063,480
Four Feeder Containerships [Member]
Number of Vessels Acquired			4
Payments to Acquire Property, Plant, and Equipment, Total			$ 15,000,000
Stock Issued During Period, Shares, Purchase of Assets (in shares) \| shares			2,816,901			2,816,901	2,816,901
Eurobulk Ltd. [Member] \| Fixed Management Fees [Member]
Related Party Transaction, Amounts of Transaction				$ 2,000,000	$ 1,250,000							$ 2,000,000
Eurobulk Ltd. [Member] \| Fixed Management Fees [Member] \| General and Administrative Expense [Member]
Related Party Transaction, Amounts of Transaction						$ 1,344,250		1,561,126		1,306,476
Eurobulk Ltd. [Member] \| Vessel Management Fees [Member]
Related Party Transaction, Amounts of Transaction						$ 3,671,335		3,536,094		2,632,637
Colby Trading Ltd [Member] \| First Debt Agreement [Member]
Due to Related Parties, Total														$ 2,500,000
Debt Instrument, Interest Rate, Stated Percentage														8.00%
Colby Trading Ltd [Member] \| Second Debt Agreement [Member]
Due to Related Parties, Total													$ 2,500,000
Debt Instrument, Interest Rate, Stated Percentage													8.00%
Eurochart [Member] \| Vessel Sales [Member]
Related Party Transaction Commission, Percentage						1.00%	1.00%
Related Party Transaction, Expenses from Transactions with Related Party						$ 0		64,500		70,640
Eurochart [Member] \| Charter Revenues [Member]
Related Party Transaction Commission, Percentage						1.25%	1.25%
Related Party Transaction, Expenses from Transactions with Related Party						$ 493,341		453,361		310,467
Eurochart [Member] \| Vessel Acquisition [Member]
Related Party Transaction, Expenses from Transactions with Related Party						0		0		118,526
Sentinel [Member]
Related Party Transaction, Expenses from Transactions with Related Party						$ 106,749		118,684		89,329
Related Party Transaction Commission on Premium, Maximum, Percentage						5.00%	5.00%
Technomar [Member]
Related Party Transaction, Expenses from Transactions with Related Party						$ 142,332		$ 137,385		$ 101,394
Related Party Transaction Amounts of Transaction Per Crew Member Per Month						$ 50

Note 8 - Long-term Bank Loans_2

Note 8 - Long-term Bank Loans (Details Textual)	Nov. 08, 2019USD ($)	Nov. 01, 2019USD ($)	Sep. 30, 2019USD ($)	Jul. 30, 2019USD ($)	Jul. 29, 2019USD ($)	May 30, 2019USD ($)	Nov. 21, 2018USD ($)	Feb. 27, 2018USD ($)	Jun. 19, 2017USD ($)	Dec. 22, 2016USD ($)	Aug. 31, 2019USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Jul. 29, 2020
Long-term Debt, Total												$ 90,200,000	$ 90,200,000
Proceeds from Issuance of Long-term Debt, Total											$ 16,167,680
Restricted Cash, Total												4,410,376	4,410,376	$ 5,717,063
Interest Expense, Total													3,219,471	2,703,845	$ 1,380,458
Eurobank Ergasias S.A. [Member] \| Revolving Loan Facility [Member]
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid						$ 6,000,000
Debt Instrument, Number of Periodic Payments						16
Payments of Debt Issuance Costs						$ 32,000
Proceeds from Issuance of Long-term Debt, Total						12,000,000
Security Deposit						5,000,000						$ 1,000,000	1,000,000
Debt Instrument, Periodic Payment, Total						$ 375,000
Eurobank Ergasias S.A. [Member] \| Revolving Credit Facility [Member]
Debt Instrument, Periodic Payment, Total							$ 900,000
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid							$ 19,200,000
Debt Instrument, Number of Periodic Payments							16
Debt Instrument, Number of Quarterly Installment Payments							12
Payments of Debt Issuance Costs							$ 300,000
Line of Credit Facility, Maximum Borrowing Capacity							45,000,000
Long-term Line of Credit, Total							$ 30,000,000
Long-term Debt, Term (Month)							1 year 180 days
Debt Instrument, Covenant, Security Cover Ratio							140.00%
Line of Credit Facility, Remaining Borrowing Capacity							$ 7,350,000
Line of Credit Facility, Remaining Percent of Vessel Market Value to Finance							55.00%
Debt Instrument, Balloon Payment, Percent of Drawn Debt							50.00%
Line of Credit Facility, Commitment Fee Percentage							0.40%
Line of Credit Facility, Underwriting Fee Percentage							1.00%
Piraeus Bank S.A. [Member]
Debt Instrument, Periodic Payment, Total					$ 160,460
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid					$ 1,742,160
Debt Instrument, Number of Periodic Payments					12
Payments of Debt Issuance Costs													$ 32,000
Line of Credit Facility, Maximum Borrowing Capacity					$ 4,000,000
Proceeds from Issuance of Long-term Debt, Total					$ 3,667,680
Line of Credit Facility, Maximum Borrowing Amount, Percent of Scrap Value of Vessel					90.00%
Debt Instrument, Security Cover Ratio Covenant												110.00%	110.00%
Piraeus Bank S.A. [Member] \| Forecast [Member]
Debt Instrument, Security Cover Ratio Covenant																120.00%
HSBC Bank PLC [Member]
Debt Instrument, Periodic Payment, Total				$ 450,000
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid				$ 6,200,000
Debt Instrument, Number of Periodic Payments				14
Payments of Debt Issuance Costs													$ 62,500
Proceeds from Issuance of Long-term Debt, Total				$ 12,500,000
Debt Instrument, Security Cover Ratio Covenant				130.00%
Colby Trading Ltd [Member]
Debt Instrument, Number of Periodic Payments			4
Proceeds from Issuance of Long-term Debt, Total			$ 2,500,000
Debt Instrument, Interest Rate, Stated Percentage			8.00%
Interest Expense, Debt, Total													$ 51,111
Minimum [Member]
Debt Instrument Covenant, Ratio of Fair Value of Vessel to Outstanding Loan Less Cash in Retention Accounts												120.00%	120.00%
Maximum [Member]
Debt Instrument Covenant, Ratio of Fair Value of Vessel to Outstanding Loan Less Cash in Retention Accounts												140.00%	140.00%
London Interbank Offered Rate (LIBOR) [Member] \| Eurobank Ergasias S.A. [Member] \| Revolving Loan Facility [Member]
Debt Instrument, Basis Spread on Variable Rate						4.40%						3.90%
London Interbank Offered Rate (LIBOR) [Member] \| Eurobank Ergasias S.A. [Member] \| Revolving Credit Facility [Member]
Debt Instrument, Basis Spread on Variable Rate							4.40%						3.90%
London Interbank Offered Rate (LIBOR) [Member] \| Piraeus Bank S.A. [Member]
Debt Instrument, Basis Spread on Variable Rate				2.95%	3.50%
Loan Agreement to Finance Acquisition of M/V EM Astoria [Member]
Debt Instrument, Periodic Payment, Total									$ 100,000
Debt Instrument, Face Amount									4,750,000
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid with Twentieth Installment									2,750,000
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid with Sixteenth Installment									3,150,000
Payments of Debt Issuance Costs									$ 50,000
Percent Shared With Bank in Excess of Fair Market Value															35.00%
Vessel Profit Parcitipation Liability														$ 1,067,500
Percent of Cash Flow After Debt Service Set Aside															35.00%
Loan Agreement to Finance Acquisition of M/V EM Astoria [Member] \| Minimum [Member]
Debt Instrument, Number of Quarterly Installment Payments									20
Loan Agreement to Finance Acquisition of M/V EM Astoria [Member] \| Maximum [Member]
Debt Instrument, Number of Quarterly Installment Payments									16
Loan Agreement to Finance Acquisition of M/V EM Astoria [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate									2.65%
Second Debt Agreement [Member] \| Piraeus Bank S.A. [Member]
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid	$ 17,400,000
Payments of Debt Issuance Costs													$ 352,000
Proceeds from Issuance of Long-term Debt, Total	$ 32,000,000
Debt Instrument, Security Cover Ratio Covenant	125.00%
Second Debt Agreement [Member] \| Colby Trading Ltd [Member]
Proceeds from Issuance of Long-term Debt, Total		$ 2,500,000
Debt Instrument, Interest Rate, Stated Percentage		8.00%
Interest Expense, Debt, Total													$ 33,333
Second Debt Agreement [Member] \| London Interbank Offered Rate (LIBOR) [Member] \| Piraeus Bank S.A. [Member]
Debt Instrument, Basis Spread on Variable Rate	3.50%
Second Debt Agreement, First Payments [Member] \| Piraeus Bank S.A. [Member]
Debt Instrument, Periodic Payment, Total	$ 1,400,000
Debt Instrument, Number of Periodic Payments	3
Second Debt Agreement, Second Payments [Member] \| Piraeus Bank S.A. [Member]
Debt Instrument, Periodic Payment, Total	$ 800,000
Debt Instrument, Number of Periodic Payments	13
Second Set of Quarterly Payments [Member] \| Colby Trading Ltd [Member]
Debt Instrument, Number of Periodic Payments			3
Noumea Shipping Ltd [Member]
Debt Instrument, Periodic Payment, Total										$ 720,000
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid										6,360,000
Long-term Debt, Total										7,080,000
Debt Instrument, Face Amount								$ 4,250,000
Noumea Shipping Ltd [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate								3.00%
Noumea Shipping Ltd [Member] \| Debt Instrument, Redemption, Period One [Member]
Debt Instrument, Periodic Payment, Total								$ 303,000
Noumea Shipping Ltd [Member] \| Debt Instrument, Redemption, Period Two [Member]
Debt Instrument, Periodic Payment, Total								$ 311,000
Noumea Shipping Ltd [Member] \| Supplemental Agreement with Noumea Shipping [Member]
Debt Instrument, Periodic Payment, Total										720,000
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid										$ 4,920,000
Debt Instrument, Number of Periodic Payments										3

Note 8 - Long-term Bank Loans -

Note 8 - Long-term Bank Loans - Summary of Long-term Debt (Details) - USD ($)		Dec. 31, 2019	Dec. 31, 2018
Long-term debt, gross		$ 85,207,220	$ 37,491,000
Less: Current portion		(12,541,840)	(5,212,000)
Long-term portion		72,665,380	32,279,000
Deferred charges, current portion		246,520	125,357
Deferred charges, long-term portion		477,595	237,848
Debt discount, current portion			216,402
Debt discount, long-term portion			324,603
Long-term bank loans, current portion net of deferred charges and debt discount		12,295,320	4,870,241
Long-term bank loans, long-term portion net of deferred charges and debt discount		72,187,785	31,716,549
Loan from related party, current		795,562	2,672,895
Euroseas Ltd [Member]
Loan from related party, current	[1]	5,000,000
Noumea Shipping Ltd [Member]
Long-term debt, gross	[2]		3,341,000
Gregos Shiping Ltd. [Member]
Long-term debt, gross	[3]		4,150,000
Deals With 11 Shipbuilders [Member]
Long-term debt, gross	[4]	37,650,000	30,000,000
Diamantis Shipowners Ltd. [Member]
Long-term debt, gross	[5]	3,507,220
Kea Shipowners Ltd. / Spetses Shipowners Ltd. / Hydra Shipowners Ltd. [Member]
Long-term debt, gross	[6]	12,050,000
Antwerp Shipping Ltd. / Busan Shipping Ltd. / Keelung Shipping Ltd. / Oakland Shipping Ltd. [Member]
Long-term debt, gross	[7]	$ 32,000,000

[1]	On September 30, 2019, Euroseas signed an agreement with Colby Trading Ltd., a company controlled by the Pittas family and affiliated with the Company's Chief Executive Officer, as further supplemented on December 20,2019 and March 30, 2020, to draw down a $2.5 million loan to finance the special survey and WBT system installation on M/V "Akinada Bridge". Interest on the loan is 8% per annum and is payable quarterly. Euroseas will repay the loan in four repayment instalments of a principal amount of $625,000 each. The first repayment instalment will be due on May 15, 2020 and the remaining three instalments will be paid on a quarterly basis thereafter and the loan will be paid in full by November 2020. Under certain circumstances, the Company can pay principal in equity, and the loan is convertible in common stock of the Company at the option of the lender at certain times. The first instalment of $312,500 payable on December 31, 2019 was waived by the lender and will be paid at the maturity of the loan. The Company paid $51,111 in interest for this loan for the fiscal year 2019. On November 1, 2019, Euroseas signed a second agreement with Colby Trading Ltd. to draw another $2.5 million loan to finance working capital needs. Interest on the loan is 8% per annum and is payable quarterly. There are no principal repayments until December 31, 2020, when the loan matures. Under certain circumstances, the Company can pay principal in equity, and the loan is convertible in common stock of the Company at the option of the lender at certain times. The Company paid $33,333 in interest for this loan for the fiscal year 2019.
[2]	On December 22, 2016, the supplemental agreement between Credit Agricole and Noumea Shipping Ltd., owner of M/V "Evridiki G" was signed in order to refinance the final quarterly instalment of $720,000 and the balloon payment of $6,360,000 originally due in December 2016. The borrower and the lender agreed to amend the repayment profile in respect of the loan of which $7,080,000 remained outstanding as of the date of the supplemental agreement and to extend the final maturity date to January 2018. The loan will be repaid with three repayments of $720,000 each, due in December 2016, in July 2017 and in January 2018 together with the balloon payment of $4,920,000 due in January 2018. On February 27, 2018, the Company signed and drew a term loan facility of $4,250,000 with Credit Agricole in order to partly refinance the existing indebtedness of M/V "Evridiki G" with the bank. The loan was payable in thirteen consecutive quarterly instalments of $303,000 each and a final instalment in the amount of $311,000. The margin of the loan was 3.00% above LIBOR. The loan was secured with the following: (i) first priority mortgages over M/V &#8220;Evridiki G&#8221; and collateral vessel (M/V "EM Astoria"), (ii) first assignment of earnings and insurance and (iii) other covenants and guarantees similar to the remaining loans of the Company. The Company completed the refinancing of the specific loan using its revolving loan facility with Eurobank Ergasias S.A., as explained in note (c) below.
[3]	On June 15, 2017, the Company signed a term loan facility with Credit Agricole and on June 19, 2017 a loan of $4,750,000 was drawn by Gregos Shipping Ltd. to partly finance the acquisition of M/V "EM Astoria". The loan was payable in twenty or sixteen consecutive equal quarterly installments of $100,000 plus a balloon amount of $2,750,000 or $3,150,000. The margin of the loan was 2.65% above LIBOR. The loan was secured with (i) first priority mortgage over M/V "EM Astoria", (ii) first assignment of earnings and insurance of M/V "EM Astoria", (iii) a corporate guarantee of Euroseas Ltd. and other covenants and guarantees similar to remaining loans of the Company. The Company paid a loan arrangement fee of $50,000 in 2017 for this loan. The Company had also entered into a profit sharing agreement with Credit Agricole whereby it would share with the bank, 35% of the excess of the fair market value of the vessel over the outstanding loan when the vessel was sold or when the loan matured. As a result of the lender's entitlement to participate in the appreciation of the market value of the mortgaged vessel, the Company recognized a participation liability of an amount of $1,067,500 as of December 31, 2018, presented in "Vessel profit participation liability" in the consolidated balance sheets, with a corresponding debit to a debt discount account, presented contra to the loan balance. In addition, 35% of the cash flow after debt service would be set aside and be used to repay the balloon payment with any excess funds to be paid to the bank. The Company completed the refinancing of the specific loan in June 2019 using its revolving loan facility with Eurobank Ergasias S.A., as explained in note (c) below, with the final participation liability paid amounting to $950,000 included in the "Repayment of long-term bank loans and vessel profit participation liability" in the consolidated statement of cash flows. The portion of debt discount remaining unamortized at the time of the refinancing was written-off and presented as "Loss on debt extinguishment" in the consolidated statement of operations, partly offset by the lower amount of $950,000 at which the vessel profit participation liability was finally settled as described above.
[4]	On November 21, 2018, the Company signed a reducing revolving credit facility with Eurobank Ergasias S.A (the "Lender") for an amount of up to $45,000,000. A loan of $30,000,000 was drawn on November 21, 2018 by Alterwall Business Inc., Allendale Investments S.A., Manolis Shipping Ltd., Joanna Maritime Ltd., Jonathan John Shipping Ltd., Athens Shipping Ltd., Oinousses Navigation Ltd., Corfu Navigation Ltd. and Bridge Shipping Ltd. to fully refinance all of the Company&#8217;s existing facilities with this bank and provide working capital. The revolving tranche will be available for a period of 18 months from signing of the loan agreement for the purpose of partly financing new vessel acquisitions or providing working capital and can be renewed subject to the bank's approval and a fee to be determined. The loan is payable in 12 equal consecutive quarterly principal installments of $900,000 and the balance will be repaid through balloon payment of $19,200,000 together with the last principal installment in November 2021. Each quarterly principal instalment paid is added to the revolving tranche and may be redrawn. The interest rate margin is 3.90% over LIBOR, reduced from 4.40% as described below. The loan is secured with (i) first priority mortgages over M/V "Ninos&#8221;, M/V &#8220;Kuo Hsiung", M/V "Aegean Express", M/V "Manolis P." M/V "Joanna", M/V "EM Athens", M/V "EM Oinousses", M/V "EM Corfu" and M/V "Akinada Bridge", (ii) first assignment of earnings and insurance of the aforementioned vessels, (iii) a corporate guarantee of Euroseas Ltd. and other covenants and guarantees similar to the remaining loans of the Company. The Company has the option (at the Lender&#8217;s absolute discretion) to substitute a mortgaged vessel by notifying the Lender in writing at least one (1) month prior to the intended substitution date, provided that: a) the substitute vessel is of a similar type, of the same or younger age, having the same or enhanced characteristics (including, without limitation, deadweight, lightweight, shipyard pedigree and technical specifications) and will be 100% owned by a shipowning company, incorporated in a jurisdiction acceptable to the Lender and owned by a ship owning company owned by the Company (directly or indirectly) and b) the new shipowning company provides a first preferred mortgage over the new vessel and a corporate guarantee in favor of the Lender and executes any other security documentation as may be requested by the Lender at its discretion. The Company paid loan arrangement fees of $300,000 within 2018 for this tranche. On May 30, 2019, the Lender made available to the Company two new ship-related (M/V "EM Astoria" and M/V "Evridiki G") advances totaling $12.0 million or 55% of the aggregate market value of the two aforementioned vessels, with a simultaneous reduction of the margin of the loan, from 4.40% to 3.90% per annum. The borrower also agreed, during the remaining facility period, to reduce the amount held as cash collateral from $5.0 million to $1.0 million and release the balance in favor of the borrower. The loan was used to refinance the existing facilities of Noumea Shipping Ltd. and Gregos Shiping Ltd. and to provide working capital. The loan is payable in 16 equal consecutive quarterly principal installments of $375,000 and the balance will be repaid through a balloon payment of $6,000,000 together with the last principal installment in May 2023. The loan is secured with (i) first priority mortgages over M/V "Evridiki G" and M/V "EM Astoria", (ii) first assignment of earnings and insurance of the aforementioned vessels, (iii) a corporate guarantee of Euroseas Ltd. and other covenants and guarantees similar to the remaining loans of the Company. The Company paid a loan arrangement fee of $32,000 within 2019 for this tranche. The security cover ratio covenant for the facility is set to 140%. The remaining $7,350,000 of the revolving facility, after including principal repayments up to December 31, 2019, remains available to the company in order to finance up to 55% of the market value of post 2001-built ships. The new tranches will be repaid through sixteen quarterly principal instalments with the amount of each such instalment being equal to such amount so that the balloon amount to be equal to 50% of the initially drawn relevant tranche. The undrawn amounts available under the revolving facility pay an annual commitment of 0.40% and any amount drawn will pay a 1% underwriting fee.
[5]	On July 29, 2019, the Company signed a term loan facility with Piraeus Bank S.A. for an amount not exceeding the lesser between $4,000,000 and 90% of the scrap value pf M/V "Diamantis P". On July 31, 2019, a loan of $3,667,680 was drawn by Diamantis Shipping Ltd. to partly finance the acquisition of M/V "Diamantis P". The loan is payable in twelve equal consecutive quarterly instalments of $160,460 plus a balloon amount of $1,742,160 paid together with the last instalment in July 2022. The margin of the loan is 3.50% over LIBOR. The loan is secured with (i) first priority mortgage over M/V "Diamantis P", (ii) first assignment of earnings and insurance of M/V "Diamantis P", (iii) a corporate guarantee of Euroseas Ltd. and other covenants and guarantees similar to remaining loans of the Company. The Company paid a loan arrangement fee of $32,000 within 2019 for this loan. The security cover ratio covenant for the facility is set to 110% until the first anniversary of the drawdown date and 120% thereafter.
[6]	On July 30, 2019, the Company signed a term loan facility with HSBC Bank plc. for an amount of $12,500,000. The loan was used to partly finance the acquisition of M/V "EM Hydra", M/V "EM Kea" and M/V "EM Spetses". The loan was drawn in tranches upon the delivery of each vessel to the Company with the last drawdown taking place on August 8, 2019.The loan is payable in fourteen consecutive equal quarterly installments of $450,000 and a balloon payment of $6,200,000 paid with the last instalment in February 2023. The loan bears interest at LIBOR plus a margin of 2.95%. The loan is secured with (i) first priority mortgages over M/V "EM Hydra", M/V "EM Kea" and M/V "EM Spetses" (ii) first assignment of earnings and insurance of the abovementioned vessels, (iii) a corporate guarantee of Euroseas Ltd. and other covenants and guarantees similar to the remaining loans of the Company. The Company paid loan arrangement fees of $62,500 within 2019 for this loan. The security cover ratio covenant for the facility is set to 130%.
[7]	On November 8, 2019, the Company signed a term loan facility with Piraeus Bank S.A. for an amount of $32,000,000. The loan was used to partly finance the acquisition of M/V "Synergy Antwerp", M/V "Synergy Busan", M/V &#8220;Synergy Keelung&#8221; and M/V "Synergy Oakland". The loan was drawn in tranches upon the delivery of each vessel to the Company with the last drawdown taking place on November 18, 2019. The loan is payable in three consecutive equal quarterly instalments of $1,400,000 followed by thirteen consecutive equal quarterly instalments of $800,000 and a balloon payment of $17,400,000 paid with the last instalment. The loan bears interest at LIBOR plus a margin of 3.50%. The loan is secured with (i) first priority mortgages over M/V "Synergy Antwerp", M/V "Synergy Busan", M/V "Synergy Keelung" and M/V "Synergy Oakland" (ii) first assignment of earnings and insurance of the abovementioned vessels, (iii) a corporate guarantee of Euroseas Ltd. and other covenants and guarantees similar to the remaining loans of the Company. The Company paid loan arrangement fees of $352,000 within 2019 for this loan. The security cover ratio covenant for the facility is set to 125%.

Note 8 - Long-term Bank Loans_3

Note 8 - Long-term Bank Loans - Summary of Future Annual Loan Repayments for Long-term Debt (Details)	Dec. 31, 2019USD ($)
2020	$ 12,541,840
2021	29,941,840
2022	8,723,540
2023	34,000,000
Total	$ 85,207,220

Note 9 - Income Taxes (Details

Note 9 - Income Taxes (Details Textual) - USD ($)	12 Months Ended
Note 9 - Income Taxes (Details Textual) - USD ($)	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2019
Effective United States Tax on U.S. Source Shipping	2.00%		4.00%
Effective Tax on U.S. Source Shipping, Amount	$ 19,726	$ 15,135

Note 10 - Commitments and Con_2

Note 10 - Commitments and Contingencies (Details Textual) - USD ($)	Mar. 31, 2020	Dec. 31, 2019	Nov. 07, 2019	Dec. 31, 2018
Common Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.03	$ 0.03	$ 1	$ 0.03
Future Gross Minimum Revenues Under Non-cancellable Time Charter Agreements		$ 17,200,000
Purchase of Vessels [Member]
Cash Issued Per Vessel Purchased			$ 500,000
Alterwall Business Inc. Vs. Fuel Oil Supplier [Member] \| Pending Litigation [Member] \| Alterwall Business Inc. [Member]
Restricted Cash and Investments, Total		530,000
Estimated Litigation Liability		$ 150,000

Note 11 - Stock Incentive Pla_2

Note 11 - Stock Incentive Plan (Details Textual)	Nov. 04, 2019shares	Nov. 21, 2018shares	Nov. 02, 2017shares	Jul. 31, 2014shares	Dec. 31, 2019USD ($)shares	Dec. 31, 2018USD ($)shares	Dec. 31, 2017USD ($)$ / sharesshares
Share-based Payment Arrangement, Expense \| $					$ 97,919	$ 124,487	$ 116,562
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total \| $					$ 172,887
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)					15,444
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period (in shares)					0	0	538
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value (in dollars per share) \| $ / shares							$ 22.24
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)					273 days
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other Than Options, Granted in Period, Fair Value \| $					$ 90,193	$ 134,232	$ 176,475
The 2014 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)				75,000
Share Based Compensation Arrangement By Share Based Payment Awarded Term (Year)				10 years
The 2014 Plan [Member] \| Restricted Stock [Member] \| The 18 Key Persons [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)		15,681	12,534			15,681	12,534
Number of Key People Issued Awards		18	18
The 2014 Plan [Member] \| Restricted Stock [Member] \| The 18 Key Persons [Member] \| Share-based Payment Arrangement, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage		50.00%	50.00%
The 2014 Plan [Member] \| Restricted Stock [Member] \| The 18 Key Persons [Member] \| Share-based Payment Arrangement, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage			50.00%
The 2014 Plan [Member] \| Restricted Stock [Member] \| Officers and Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)	8,713	9,021	7,213
The 2014 Plan [Member] \| Restricted Stock [Member] \| Officers and Directors [Member] \| Share-based Payment Arrangement, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage		50.00%
The 2014 Plan [Member] \| Restricted Stock [Member] \| Eurobulk Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)	6,731	6,660	5,321
The 2014 Plan [Member] \| Restricted Stock [Member] \| The 17 Key Persons [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)	15,444				15,444
Number of Key People Issued Awards	17
The 2014 Plan [Member] \| Restricted Stock [Member] \| The 17 Key Persons [Member] \| Share-based Payment Arrangement, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	50.00%
The 2014 Plan [Member] \| Restricted Stock [Member] \| The 17 Key Persons [Member] \| Share-based Payment Arrangement, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	50.00%

Note 11 - Stock Incentive Pla_3

Note 11 - Stock Incentive Plan - Summary of the Status of the Company's Non-vested Shares (Details) - Restricted Stock [Member]	12 Months Ended
	Dec. 31, 2019$ / sharesshares
Non-vested (in shares) \| shares	21,948
Non-vested, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 10.16
Granted (in shares) \| shares	15,444
Granted, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 5.84
Vested (in shares) \| shares	(14,108)
Vested, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 11.01
Non-vested (in shares) \| shares	23,284
Non-vested, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 6.77

Note 12 - Loss Per Share (Detai

Note 12 - Loss Per Share (Details Textual) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	0	0	0

Note 12 - Loss Per Share - Summ

Note 12 - Loss Per Share - Summary of Basic and Diluted Loss Per Common Share (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Net loss	$ (1,682,671)	$ (663,396)	$ (6,944,261)
Dividends to Series B preferred shares	(1,271,782)	(1,335,733)	(1,808,811)
Preferred deemed dividend	(504,577)
Net loss attributable to common shareholders, continuing operations	$ (3,459,030)	$ (1,999,129)	$ (8,753,072)
Weighted average common shares –outstanding , basic and diluted (in shares)	2,861,928	1,414,775	1,383,440
Basic and diluted loss per share, continuing operations (in dollars per share)	$ (1.21)	$ (1.41)	$ (6.33)
Net income attributable to common shareholders, discontinued operations		$ 554,506	$ 849,701
Net loss attributable to common shareholders	$ (3,459,030)	$ (1,444,623)	$ (7,903,371)
Basic and diluted loss per share (in dollars per share)	$ (1.21)	$ (1.02)	$ (5.72)
Series B Preferred Stock [Member]
Dividends to Series B preferred shares	$ (1,271,782)	$ (1,335,733)	$ (1,808,811)

Note 13 - Voyage and Vessel O_3

Note 13 - Voyage and Vessel Operating Expenses - Summary of Voyage, Vessel, Operating Expenses and Commissions (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Voyage expenses	$ 1,055,408	$ 1,261,088	$ 1,564,489
Vessel operating expenses	23,983,282	19,986,170	15,019,342
Port Charges and Canal Dues [Member]
Voyage expenses	251,197	384,893	1,156,511
Bunkers [Member]
Voyage expenses	804,211	876,195	407,978
Crew Wages and Related Costs [Member]
Vessel operating expenses	13,111,682	11,020,924	8,771,386
Insurance [Member]
Vessel operating expenses	1,844,088	1,537,539	1,261,976
Repairs and Maintenance [Member]
Vessel operating expenses	1,110,995	1,043,632	643,788
Lubricants [Member]
Vessel operating expenses	2,029,230	1,665,849	1,169,412
Spares and Consumable Stores [Member]
Vessel operating expenses	4,758,290	3,445,422	2,391,420
Professional and Legal Fees [Member]
Vessel operating expenses	259,311	252,156	10,037
Other Vessel Operating Expenses [Member]
Vessel operating expenses	$ 869,686	$ 1,020,648	$ 771,323

Note 14 - Derivative Financia_3

Note 14 - Derivative Financial Instruments (Details Textual)	1 Months Ended
	Dec. 31, 2017USD ($)	Dec. 31, 2018USD ($)	Nov. 28, 2017	Nov. 28, 2016	Oct. 17, 2014USD ($)
Interest Rate Swap [Member]
Derivative, Number of Instruments Held, Total		1
Derivative, Notional Amount		$ 10,000,000
Interest Rate Swap [Member] \| Eurobank [Member]
Derivative, Number of Instruments Held, Total					1
Derivative, Notional Amount					$ 10,000,000
Derivative, Average Fixed Interest Rate					1.97%
Derivative, Fixed Interest Rate			3.55%	0.95%	0.50%
Freight Forward Agreements [Member]
Derivative, Number of Instruments Held, Total	3
Charter Equivalent Rate Per Day	$ 11,000

Note 14 - Derivative Financia_4

Note 14 - Derivative Financial Instruments - Derivatives Not Designated as Hedging Instruments by Account Type (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Interest rate swap contract		$ 41,435
Total derivative liabilities		$ 41,435

Note 14 - Derivative Financia_5

Note 14 - Derivative Financial Instruments - Gain or Loss on Derivatives Not Designated as Hedging Instruments (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Total net gain / (loss) on derivatives	$ (2,885)	$ (44,343)	$ 12,389
Not Designated as Hedging Instrument [Member] \| Interest Rate Contracts, Unrealized (Loss) / Gain [Member]
Total net gain / (loss) on derivatives		204,647	(5,901)
Not Designated as Hedging Instrument [Member] \| Freight Forward Agreements, Unrealized Gain (Loss) [Member]
Total net gain / (loss) on derivatives			(781)
Not Designated as Hedging Instrument [Member] \| Interest Rate Contracts, Realized (Loss) / Gain [Member]
Total net gain / (loss) on derivatives	(2,885)	(201,745)	19,071
Not Designated as Hedging Instrument [Member] \| Freight Forward Agreements, Realized Gain (Loss) [Member]
Total net gain / (loss) on derivatives		(47,245)
Not Designated as Hedging Instrument [Member] \| Interest Rate Swap Contracts, Fair Value [Member]
Total net gain / (loss) on derivatives	(2,885)	2,902	13,170
Not Designated as Hedging Instrument [Member] \| Freight Forward Agreements [Member]
Total net gain / (loss) on derivatives		$ (47,245)	$ (781)

Note 15 - Preferred Shares (Det

Note 15 - Preferred Shares (Details Textual) - USD ($)	Feb. 01, 2021	Jun. 10, 2019	Jan. 29, 2019	May 30, 2018	Jan. 27, 2014	Jan. 31, 2021	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Preferred Stock, Value, Distributed								$ 18,192,131
Preferred Stock Distributed (in shares)								19,042
Payments for Repurchase of Redeemable Preferred Stock							$ 11,686,000
Dividends, Paid-in-kind, Total							78,640	1,335,733	1,808,811
Dividends, Preferred Stock, Total							$ 1,271,782	1,335,733	1,808,811
Series B Preferred Stock [Member]
Proceeds from Issuance of Convertible Preferred Stock					$ 29,000,000
Preferred Stock, Redemption Price Per Share (in dollars per share)					$ 1,000
Preferred Stock, Dividend Rate, Percentage		4.00%					8.00%
Preferred Stock Additional Cash Dividend Under Specified Conditions Percentage					40.00%
Convertible Preferred Stock, Conversion Price Per Share (in dollars per share)					$ 15.58
Payments for Repurchase of Redeemable Preferred Stock		$ 11,700,000
Percentage of Outstanding Preferred Stock Redeemed		59.40%
Preferred Stock, Value, Outstanding		$ 8,000,000
Preferred Stock Deemed Dividend							$ 504,577
Dividends, Paid-in-kind, Total							80,000	1,340,000	1,810,000
Dividends, Preferred Stock, Total							1,270,000
Dividends, Preferred Stock, Cash							1,030,000
Dividends Payable							160,000
Preferred Stock, Redemption Amount							$ 8,000,000
Preferred Stock Voting Percentage of Number of Shares Convertible of Common Stock							50.00%
Series B Preferred Stock [Member] \| Forecast [Member]
Preferred Stock, Dividend Rate, Percentage	14.00%					14.00%
Series B Preferred Stock [Member] \| Maximum [Member] \| First Five Years [Member]
Preferred Stock, Dividend Rate, Percentage					5.00%
Series B Preferred Stock [Member] \| Maximum [Member] \| Next Two Years [Member]
Preferred Stock, Dividend Rate, Percentage			12.00%
Series B Preferred Stock [Member] \| Maximum [Member] \| After Two Years [Member]
Preferred Stock, Dividend Rate, Percentage			14.00%
Ordinary Preferred Stock [Member]
Preferred Stock, Value, Distributed								14,500,000
Preferred Stock Issued as Dividends [Member]
Preferred Stock, Value, Distributed								3,692,131
TCP [Member] \| Series B Preferred Stock [Member]
Stock Issued During Period, Shares, New Issues (in shares)					25,000
Friends Investment Company Inc. [Member] \| Series B Preferred Stock [Member]
Stock Issued During Period, Shares, New Issues (in shares)					5,700
Eurodry [Member]
Percentage of Preferred Stock Outstanding							50.00%
Preferred Stock, Value, Distributed								$ 18,192,131
Common Stock, Value, Distributed				$ 2,254,830
Eurodry [Member] \| Series B Preferred Stock [Member]
Preferred Stock Distributed (in shares)				19,042
Eurodry [Member] \| Ordinary Preferred Stock [Member]
Preferred Stock, Value, Distributed				$ 14,500,000
Eurodry [Member] \| Preferred Stock Issued as Dividends [Member]
Preferred Stock, Value, Distributed				$ 3,692,131

Note 15 - Preferred Shares - Di

Note 15 - Preferred Shares - Dividends Series B Preferred Shares (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Balance (in shares)	19,605	37,314	35,505
Balance	$ 18,757,361	$ 35,613,759	$ 33,804,948
Dividends declared (in shares)	81	1,333	1,809
Dividends declared	$ 78,639	$ 1,335,733	$ 1,808,811
Shares distributed to EuroDry (in shares)		(19,042)
Shares distributed to EuroDry		$ (18,192,131)
Redemption of shares (in shares)	(11,686)
Redemption of shares	$ (11,686,000)
Preferred deemed dividend	$ 504,577
Balance (in shares)	8,000	19,605	37,314
Balance	$ 7,654,577	$ 18,757,361	$ 35,613,759
Ordinary Preferred Stock [Member]
Balance	14,500,000	29,000,000	29,000,000
Dividends declared
Shares distributed to EuroDry		(14,500,000)
Redemption of shares	(8,155,055)
Preferred deemed dividend	504,577
Balance	6,849,522	14,500,000	29,000,000
Preferred Stock Issued as Dividends [Member]
Balance	4,257,361	6,613,759	4,804,948
Dividends declared	78,639	1,335,733	1,808,811
Shares distributed to EuroDry		(3,692,131)
Redemption of shares	(3,530,945)
Preferred deemed dividend
Balance	$ 805,055	$ 4,257,361	$ 6,613,759

Note 16 - Financial Instrumen_3

Note 16 - Financial Instruments (Details Textual)	Sep. 30, 2017USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Jun. 30, 2019USD ($)	Dec. 20, 2016
Vessel Profit Participation Liability, Noncurrent			$ 1,067,500
Asset Impairment Charges, Total				$ 4,595,819
Long-term Debt, Fair Value		87,100,000
Difference Between Fair Value and Carrying Value		3,100,000
Long-term Debt, Total		$ 90,200,000
M/V Monika P. [Member]
Profit Sharing Agreement, Percentage						35.00%
Vessel Profit Participation Liability, Noncurrent			$ 1,067,500		$ 950,000
Assets Held-for-sale, Not Part of Disposal Group, Total	$ 8,230,000
Assets Held-for-sale, Long Lived, Fair Value Disclosure	5,000,000
Estimated cost to sell, property	100,000
Asset Impairment Charges, Total	3,330,000
M/V Aggeliki P. [Member]
Assets Held-for-sale, Not Part of Disposal Group, Total	5,390,000
Assets Held-for-sale, Long Lived, Fair Value Disclosure	4,300,000
Estimated cost to sell, property	170,000
Asset Impairment Charges, Total	$ (1,260,000)
Interest Rate Swap [Member]
Derivative, Number of Instruments Held, Total			1
Derivative, Notional Amount			$ 10,000,000

Note 16 - Financial Instrumen_4

Note 16 - Financial Instruments - Fair Value of Company's Liabilities (Details) - Interest Rate Swap [Member]	Dec. 31, 2018USD ($)
Interest rate swap contract, current portion	$ 41,435
Fair Value, Inputs, Level 1 [Member]
Interest rate swap contract, current portion
Fair Value, Inputs, Level 2 [Member]
Interest rate swap contract, current portion	41,435
Fair Value, Inputs, Level 3 [Member]
Interest rate swap contract, current portion

Note 16 - Financial Instrumen_5

Note 16 - Financial Instruments - Fair Value of Company's Investments (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Vessel profit participation liability		$ 1,067,500
Vessels held for sale, impairment loss			$ 4,595,819
Fair Value, Nonrecurring [Member]
Vessel profit participation liability		1,067,500	1,297,100
Fair Value, Nonrecurring [Member] \| Vessels [Member]
Vessels held for sale, fair value			5,000,000
Vessels held for sale, impairment loss			4,595,819
Fair Value, Nonrecurring [Member] \| Fair Value, Inputs, Level 1 [Member]
Vessel profit participation liability
Fair Value, Nonrecurring [Member] \| Fair Value, Inputs, Level 1 [Member] \| Vessels [Member]
Vessels held for sale, fair value
Fair Value, Nonrecurring [Member] \| Fair Value, Inputs, Level 2 [Member]
Vessel profit participation liability		1,067,500	1,297,100
Fair Value, Nonrecurring [Member] \| Fair Value, Inputs, Level 2 [Member] \| Vessels [Member]
Vessels held for sale, fair value			5,000,000
Fair Value, Nonrecurring [Member] \| Fair Value, Inputs, Level 3 [Member]
Vessel profit participation liability
Fair Value, Nonrecurring [Member] \| Fair Value, Inputs, Level 3 [Member] \| Vessels [Member]
Vessels held for sale, fair value

Note 17 - Discontinued Operat_3

Note 17 - Discontinued Operations (Details Textual) - USD ($)	May 30, 2018	Dec. 31, 2018
Eurodry [Member] \| Vessel Acquisition [Member]
Related Party Transaction, Amounts of Transaction		$ 52,520,000
Eurodry [Member] \| Allocated Equity from Accumulated Deficit [Member]
Related Party Transaction, Amounts of Transaction		9,660,000
Eurodry [Member] \| Allocated Equity to Equity [Member]
Related Party Transaction, Amounts of Transaction		$ 42,860,000
Eurodry [Member]
Common Stock, Value, Received	$ 2,254,830
Eurodry [Member] \| Series B Preferred Stock [Member]
Preferred Stock, Shares, Received (in shares)	19,042

Note 17 - Discontinued Operat_4

Note 17 - Discontinued Operations - Results of Discontinued Operations (Details) - Drybulk Fleet [Member] - Discontinued Operations, Disposed of by Means Other than Sale, Spinoff [Member] - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Voyage revenue		$ 25,934,204	$ 20,280,215
Commissions (including, $253,503, $324,178 and nil respectively, to related party)		(1,411,333)	(1,122,196)
Voyage expenses		(410,676)	(2,396,318)
Vessel operating expenses (including, $102,131, $115,026 and nil, respectively, to related party)		(9,183,152)	(6,892,388)
Drydocking expenses		(1,465,079)	(127,509)
Related party management fees		(1,701,340)	(1,409,716)
Vessel depreciation		(5,422,155)	(4,786,272)
General and administrative expenses (including $693,524, $731,456 and nil, respectively, to related party)		(2,346,502)	(917,160)
Operating income		3,993,967	2,628,656
Total other expenses, net		(2,874,232)	(1,778,955)
Net income		1,119,735	849,701
Dividend Series B Preferred Shares		(565,229)
Net income attributable to common shareholders		$ 554,506	$ 849,701

Note 17 - Discontinued Operat_5

Note 17 - Discontinued Operations - Results of Discontinued Operations (Details) (Parentheticals) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Drybulk Fleet [Member]
General and administrative expenses, related party		$ 731,456	$ 693,524
Discontinued Operations, Disposed of by Means Other than Sale, Spinoff [Member]
Commissions - related party		324,178	253,503
Vessel operating expenses - related party		$ 115,026	$ 102,131

Note 18 - Common Stock (Details

Note 18 - Common Stock (Details Textual)	Dec. 19, 2019	Dec. 18, 2019	Nov. 04, 2019shares	Nov. 21, 2018shares	Nov. 02, 2017shares	Oct. 31, 2019USD ($)shares	Aug. 31, 2019shares	Nov. 30, 2018USD ($)shares	Jan. 31, 2017USD ($)shares	Dec. 31, 2019USD ($)$ / sharesshares	Dec. 31, 2018USD ($)$ / sharesshares	Dec. 31, 2017USD ($)shares	Mar. 31, 2020$ / sharesshares	Nov. 07, 2019$ / shares
Common Stock, Shares Authorized (in shares)										200,000,000	200,000,000		200,000,000
Common Stock, Par or Stated Value Per Share (in dollars per share) \| $ / shares										$ 0.03	$ 0.03		$ 0.03	$ 1
Proceeds from Issuance of Common Stock \| $										$ 6,853,101	$ 1,975,110	$ 549,495
Reverse Stock Split [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio	8	8
Four Feeder Containerships [Member]
Stock Issued During Period, Shares, Purchase of Assets (in shares)							2,816,901			2,816,901
Synergy Vessels [Member]
Stock Issued During Period, Shares, Purchase of Assets (in shares)										1,056,338
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)										15,444
The 2014 Plan [Member] \| Restricted Stock [Member] \| The 18 Key Persons [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)				15,681	12,534						15,681	12,534
The 2014 Plan [Member] \| Restricted Stock [Member] \| The 17 Key Persons [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)			15,444							15,444
ATM Common Stock Offering [Member]
Stock Issued During Period, Shares, New Issues (in shares)						144,727		139,509	37,723
Proceeds from Issuance of Common Stock \| $						$ 900,000		$ 2,000,000	$ 600,000

Note 19 - Subsequent Events (De

Note 19 - Subsequent Events (Details Textual) - Interest Rate Swap With Eurobank [Member] - Forecast [Member] $ in Millions	Apr. 24, 2020USD ($)
Derivative, Notional Amount	$ 30
Derivative, Fixed Interest Rate	0.78%