Eagle Bulk Shipping (EGLE) 10-Q 14 Nov 14 2014 Q3 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	9 Months Ended
	Sep. 30, 2014	Nov. 14, 2014
Document and Entity Information [Abstract]	'	'
Entity Registrant Name	'Eagle Bulk Shipping Inc.	'
Document Type	'10-Q	'
Current Fiscal Year End Date	'--12-31	'
Entity Common Stock, Shares Outstanding	'	38,045,081
Amendment Flag	'false	'
Entity Central Index Key	'0001322439	'
Entity Current Reporting Status	'Yes	'
Entity Voluntary Filers	'No	'
Entity Filer Category	'Smaller Reporting Company	'
Entity Well-known Seasoned Issuer	'No	'
Document Period End Date	30-Sep-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q3	'

Consolidated_Balance_Sheets_Un

Consolidated Balance Sheets (Unaudited) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Current assets:	'	'
Cash and cash equivalents	$32,497,858	$19,682,724
Accounts receivable, net	12,219,469	11,197,101
Prepaid expenses	3,916,392	5,501,081
Inventories	10,583,049	9,610,272
Investment	13,375,151	13,817,439
Other assets	4,020,441	2,122,574
Total current assets	76,612,360	61,931,191
Noncurrent assets:	'	'
Vessels and vessel improvements, at cost, net of accumulated depreciation of $445,113,585 and $389,545,066, respectively	1,584,136,605	1,639,555,368
Other fixed assets, net of accumulated amortization of $676,801 and $574,532, respectively	449,567	361,306
Restricted cash	66,243	66,243
Deferred drydock costs	5,463,714	3,826,685
Deferred financing costs	'	16,278,544
Other assets	3,372,660	1,394,964
Total noncurrent assets	1,593,488,789	1,661,483,110
Total assets	1,670,101,149	1,723,414,301
Current liabilities not subject to compromise:	'	'
Accounts payable	5,644,632	6,422,306
Accrued interest	89,930	153,885
Other accrued liabilities	11,508,045	6,211,224
Unearned charter hire revenue	2,442,991	5,387,844
Debt-In-Possession loan	25,000,000	'
Term loans	1,129,478,741	1,129,478,741
Payment-in-kind loans	62,423,569	44,565,437
Total current liabilities not subject to compromise	44,685,598	1,192,219,437
Liabilities subject to compromise:	'	'
Term loans	1,129,478,741	'
Payment-in-kind loans	62,423,569	'
Accrued interest	15,102,925	'
Total liabilities subject to compromise	1,207,005,235	'
Total liabilities	1,251,690,833	1,192,219,437
Stockholders' equity:	'	'
Preferred stock, $.01 par value, 25,000,000 shares authorized, none issued	0	0
Common stock, $.01 par value, 100,000,000 shares authorized, 18,553,948 and 16,783,071 shares issued and outstanding, respectively	185,537	167,828
Additional paid-in capital	767,571,438	766,823,808
Retained earnings (net of accumulated dividends declared of $262,118,388 as of September 30, 2014 and December 31, 2013, respectively)	-348,904,371	-235,796,772
Accumulated other comprehensive loss	-442,288	'
Total stockholders' equity	418,410,318	531,194,864
Total liabilities and stockholders' equity	$1,670,101,149	$1,723,414,301

Consolidated_Balance_Sheets_Un1

Consolidated Balance Sheets (Unaudited) (Parentheticals) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Accumulated depreciation, vessels (in Dollars)	$445,113,585	$389,545,066
Accumulated amortization, other fixed assets (in Dollars)	676,801	574,532
Preferred stock par value (in Dollars per share)	$0.01	$0.01
Preferred stock, shares authorized	25,000,000	25,000,000
Preferred stock, shares issued	0	0
Common stock par value (in Dollars per share)	$0.01	$0.01
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	18,553,948	16,783,071
Common stock, shares outstanding	18,553,948	16,783,071
Accumulated dividends declared (in Dollars)	$262,118,388	$262,118,388

Consolidated_Statements_of_Ope

Consolidated Statements of Operations (Unaudited) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Revenues, net of commissions	$29,846,038	$38,978,418	$118,021,488	$155,440,916
Voyage expenses	5,062,030	7,683,180	12,379,345	23,288,739
Vessel expenses	24,842,113	21,804,188	71,932,268	63,132,366
Depreciation and amortization	19,611,354	19,366,495	58,042,662	57,463,027
General and administrative expenses	6,566,185	2,946,267	12,832,270	10,878,601
Gain on time charter agreement termination	'	-3,564,771	'	-32,526,047
Total operating expenses	56,081,682	48,235,359	155,186,545	122,236,686
Operating income (loss)	-26,235,644	-9,256,941	-37,165,057	33,204,230
Interest expense	12,312,139	20,729,626	60,466,686	61,957,771
Interest income	-1,369	-3,321	-8,125	-71,775
Other expense	'	7,646,805	'	10,613,082
Reorganization expenses	7,311,240	'	15,483,981	'
Total other expense, net	19,622,010	28,373,110	75,942,542	72,499,078
Net loss	($45,857,654)	($37,630,051)	($113,107,599)	($39,294,848)
Basic (in Shares)	19,172,717	16,986,395	17,785,290	16,973,813
Diluted (in Shares)	19,172,717	16,986,395	17,785,290	16,973,813
Basic net loss (in Dollars per share)	($2.39)	($2.22)	($6.36)	($2.32)
Diluted net loss (in Dollars per share)	($2.39)	($2.22)	($6.36)	($2.32)

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Income (Loss) (Unaudited) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Net loss	($45,857,654)	($37,630,051)	($113,107,599)	($39,294,848)
Other comprehensive income:	'	'	'	'
Change in unrealized gain/(loss) on investment	256,781	-9,812,255	-442,288	-9,847,473
Realized loss on investment	'	7,646,805	'	10,613,082
Net unrealized gain on derivatives	'	657,347	'	2,243,833
Total other comprehensive income	256,781	-1,508,103	-442,288	3,009,442
Comprehensive loss	($45,600,873)	($39,138,154)	($113,549,887)	($36,285,406)

Consolidated_Statement_of_Stoc

Consolidated Statement of Stockholders' Equity (Unaudited) (USD $)	Common Stock [Member]	Additional Paid-in Capital [Member]	Net Income [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Total
Balance at at Dec. 31, 2013	$167,828	$766,823,808	'	($235,796,772)	'	$531,194,864
Balance at (in Shares) at Dec. 31, 2013	16,783,071	'	'	'	'	'
Net Loss	'	'	-113,107,599	-113,107,599	'	-113,107,599
Change in unrealized loss on investment	'	'	'	'	-442,288	-442,288
Exercise of Warrants	17,709	-17,709	'	'	'	'
Exercise of Warrants (in Shares)	1,770,877	'	'	'	'	'
Non-cash compensation	'	765,339	'	'	'	765,339
Balance at at Sep. 30, 2014	$185,537	$767,571,438	'	($362,364,783)	($442,288)	$418,410,318
Balance at (in Shares) at Sep. 30, 2014	18,553,948	'	'	'	'	'

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (Unaudited) (USD $)	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Net loss	($113,107,599)	($39,294,848)
Depreciation	55,670,788	56,129,127
Amortization of deferred drydocking costs	2,371,874	1,333,900
Amortization of deferred financing costs	16,278,544	6,271,128
Amortization of Debtor-In-Possession deferred financing costs	576,923	'
Amortization of fair value below contract value of time charter acquired	'	-10,280,559
Payment-in-kind interest on debt	17,858,132	21,724,749
Investment and other current asset	'	-4,925,952
Realized loss from investment	'	10,613,082
Gain on time charter agreement termination	'	-29,033,503
Allowance for accounts receivable	1,824,519	'
Non-cash compensation expense	765,339	4,328,178
Drydocking expenditures	-4,008,903	-2,378,717
Reorganization items, non-cash	3,107,207	'
Accounts receivable	-2,846,887	-1,840,197
Other assets	-3,702,486	-4,132,227
Prepaid expenses	1,584,689	216,427
Inventories	-972,777	-27,883
Accounts payable	-826,763	702,955
Accrued interest	-63,955	-2,162,321
Accrued interest subject to compromise	15,102,925	'
Accrued expenses	2,238,703	-4,448,680
Deferred revenue	'	-3,766,413
Unearned revenue	-2,944,853	628,764
Net cash used in operating activities	-11,094,580	-342,990
Proceeds from sale of investment	'	2,199,243
Vessels improvements	-149,756	-92,100
Purchase of other fixed assets	-190,530	-41,630
Changes in restricted cash	'	209,813
Net cash (used in)/provided by investing activities	-340,286	2,275,326
Debtor-In-Possession loan	25,000,000	'
Deferred financing costs	-750,000	-48,000
Cash used to settle net share equity awards	'	-78,535
Net cash provided by/(used in) financing activities	24,250,000	-126,535
Net increase in cash	12,815,134	1,805,801
Cash at beginning of period	19,682,724	18,119,968
Cash at end of period	$32,497,858	$19,925,769

Note_1_Basis_of_Presentation_a

Note 1 - Basis of Presentation and General Information	9 Months Ended
	Sep. 30, 2014
Disclosure Text Block [Abstract]	'
Business Description and Basis of Presentation [Text Block]	'
	Note 1. Basis of Presentation and General Information
	The accompanying consolidated financial statements include the accounts of Eagle Bulk Shipping Inc. and its wholly-owned subsidiaries (collectively, the "Company", “we” or “our”). The Company is engaged in the ocean transportation of dry bulk cargoes worldwide through the ownership, chartering and operation of dry-bulk vessels. The Company's fleet is comprised of Supramax and Handymax dry bulk carriers and the Company operates its business in one business segment.
	The Company is a holding company incorporated in 2005 under the laws of the Republic of the Marshall Islands and is the sole owner of all of the outstanding shares or limited liability company interests of its subsidiaries. The primary activity of each of the subsidiaries, other than the Company’s management subsidiaries, is the ownership of a vessel. The operations of the vessels are managed by a wholly-owned subsidiary of the Company, Eagle Shipping International (USA) LLC, a Republic of the Marshall Islands limited liability company.
	As of September 30, 2014, the Company owned and operated a modern fleet of 45 oceangoing vessels comprised of 43 Supramax and 2 Handymax vessels with a combined carrying capacity of 2,451,259 dwt and an average age of approximately 7.4 years.
	The following table represents certain information about the Company's charterers that individually accounted for more than 10% of the Company's gross charter revenue during the periods indicated:
	% of Consolidated Charter Revenue
		Three Months Ended		Nine Months Ended
		30-Sep-14	30-Sep-13	30-Sep-14	30-Sep-13
	Charterer
	Charterer A	-	16%	11%	14%
	Charterer B	-	-	-	20%
	Charterer C	37%	-	26%	-
	The accompanying consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”), and the rules and regulations of the Securities and Exchange Commission (“SEC”) which apply to interim financial statements and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes normally included in consolidated financial statements prepared in conformity with U.S. GAAP. They should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s 2013 Annual Report on Form 10-K, filed with the SEC on March 31, 2014.
	The accompanying unaudited consolidated financial statements include all adjustments (consisting of normal recurring adjustments) that management considers necessary for a fair statement of its consolidated financial position and results of operations for the interim periods presented. The results of operations for the interim periods are not necessarily indicative of the results that may be expected for the entire year.
	The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The significant estimates and assumptions of the Company are stock-based compensation, the useful lives of fixed assets and intangibles, depreciation and amortization, the allowances for bad debt, and the fair value of derivatives and warrants.
	Bankruptcy Filing
	On March 19, 2014, the Company received waivers for the violation of the maximum leverage ratio covenant under its Credit Agreement (As defined in note 8, below) as of December 31, 2013 and the expected violation of the maximum leverage ratio and minimum interest coverage ratio covenants at March 31, 2014 (as amended, the “Waivers”). The Waivers were extended through August 5, 2014, subject to certain conditions and the satisfaction of certain milestones. Given the uncertainty as to whether the Company would be able to comply with the terms of the Waivers within the time frames provided, the Company concluded that there was substantial doubt about its ability to continue as a going concern until such time the Company was able to demonstrate that it had sufficient cash flows to meet its ongoing needs. To address this risk of being able to continue as a going concern, the Company undertook negotiations with its lenders to provide longer term covenant relief or to restructure its balance sheet and capital structure. The financial statements have been prepared assuming the Company will continue as a going concern.
	On August 6, 2014, the Company entered into a restructuring support agreement (the “Restructuring Support Agreement”) with lenders constituting the “Majority Lenders” (as such term is defined in the Credit Agreement) under its Credit Agreement (the “Consenting Lenders”), which contemplated a plan of reorganization through a balance sheet restructuring of the Company’s obligations upon the terms specified therein. On the same day, the Company filed a voluntary prepackaged case (the “Prepackaged Case”) under chapter 11 of title 11 of the United States Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the Southern District of New York (the “Court). The Prepackaged Case was filed only in respect of the parent company, Eagle Bulk Shipping Inc., but not any of its subsidiaries. Through the Prepackaged Case, the Company sought to implement a balance sheet restructuring pursuant to the terms of its prepackaged plan of reorganization filed with the Court (the “Plan”). The Company continued to operate its business as a “debtor in possession” under the jurisdiction of the Court and in accordance with the applicable provisions of the Bankruptcy Code and orders of the Court.
	The commencement of the Prepackaged Case constituted an event of default that accelerated the Company’s obligations under the Credit Agreement, subject to an automatic stay of any action to collect, assert or recover a claim against the Company and the application of the applicable provisions of the Bankruptcy Code.
	As part of the Prepackaged Case, the Company obtained debtor-in-possession financing (the “DIP Loan Facility”), as further described below, pursuant to authorization from the Court. The Company funded its ongoing operations during the pendency of the Prepackaged Case through available borrowings under the DIP Loan Facility as well as cash generated from operations.
	Subsequent to the filing of the Prepackaged Case, the Company received approval from the Court to continue using its existing cash management system and to pay or otherwise honor certain pre-petition obligations generally designed to stabilize the Company’s operations, such as certain employee wages, salaries and benefits, certain taxes and fees, customer obligations, obligations to logistics providers and pre-petition amounts owed to certain critical vendors. The Company continued to honor payments to vendors and other providers in the ordinary course of business for goods and services received after the filing date of the Prepackaged Case. The Company retained legal and financial professionals to advise the Company in connection with the Prepackaged Case and certain other professionals to provide services and advice in the ordinary course of business.
	On September 22, 2014, the Court entered an order (the “Confirmation Order”) confirming the Plan. On October 15, 2014 (the “Effective Date”), the Company completed its balance sheet restructuring and emerged from Chapter 11 through a series of transactions contemplated by the Plan, and the Plan became effective pursuant to its terms.
	Key components of the Plan included:
		●	Entry into a new senior secured credit facility (the “Exit Financing Facility”) as of October 9, 2014, in the amount of $275 million (inclusive of a $50 million revolving credit facility).
		●	The cancellation of all outstanding Equity Interests in the Company as of the Effective Date, with the current holders of such Equity Interests (other than the Consenting Lenders on account of Amended Lender Warrants or shares of common stock received upon conversion of the Amended Lender Warrants) receiving (i) shares of New Eagle Common Stock equal to 0.5% of the total number of shares of New Eagle Common Stock issued and outstanding on the Effective Date (subject to dilution by the New Eagle Equity Warrants and the Management Incentive Program), and (ii) an aggregate of 3,040,540 New Eagle Equity Warrants. Each New Eagle Equity Warrant will have a 7-year term (commencing on the Effective Date) and will be exercisable for one share of New Eagle Common Stock (subject to adjustment as set forth in the New Eagle Equity Warrant Agreement and dilution by the Management Incentive Program).
		●	The extinguishment of all loans and other obligations under the Credit Agreement as of the Effective Date, with the current holders thereof receiving (i) new shares of the reorganized Company’s common stock equal to 99.5% of the total number of shares of New Eagle Common Stock issued and outstanding on the Effective Date, subject to dilution by the New Eagle Equity Warrants and the Management Incentive Program, and (ii) the Prepetition Credit Facility Cash Distribution. On the Effective Date, the Credit Agreement was terminated, and the liens and mortgages thereunder were released.
		●	All claims of unsecured creditors of Eagle Bulk Shipping Inc. were unaffected and will be paid in full in the ordinary course.
		●	The establishment of a Management Incentive Program that provides senior management and certain other employees of the reorganized Company with 2% of the New Eagle Common Stock (on a fully diluted basis) on the Effective Date, and two tiers of options to acquire 5.5% of the New Eagle Common Stock (on a fully diluted basis) with different strike prices based on the equity value for the reorganized Company and a premium to the equity value, each of the foregoing to vest generally over a four year schedule through 25% annual installments commencing on the first anniversary of the Effective Date. The Management Incentive Program also provides for the reservation of certain additional shares for future issuance thereunder, as further described in the Plan.
	The Plan also provided for certain releases of various parties by certain holders of claims against and equity interests in the Company.
	Exit Financing Facility
	On October 9, 2014, Eagle Bulk Shipping Inc., as borrower, and certain of its subsidiaries, as guarantors, entered into the Exit Financing Facility with certain lenders (the “Exit Lenders”). The Exit Financing Facility is in the amount of $275 million, including a $50 million undrawn revolving credit facility, and matures on October 15, 2019. Amounts drawn under the Exit Financing Facility bear interest at a rate of LIBOR plus a margin (the “Margin”) ranging between 3.50% and 4.00% per annum. The revolving credit facility is subject to an annual commitment fee of 40% of the Margin. The Exit Financing Facility is described further in Note 8 below.
	Registration Rights Agreement
	On the Effective Date, and in accordance with the Plan, the Company entered into the Registration Rights Agreement with certain parties that received shares of New Eagle Common Stock under the Plan. The Registration Rights Agreement provided such parties with demand and piggyback registration rights.
	New Eagle Equity Warrant Agreement
	On the Effective Date, and in accordance with the Plan, the New Eagle Equity Warrants were issued pursuant to the terms of the New Eagle Equity Warrant Agreement. Each New Eagle Equity Warrant has a 7-year term (commencing on the Effective Date) and are exercisable for one share of New Eagle Common Stock (subject to adjustment as set forth in the New Eagle Equity Warrant Agreement and dilution by the Management Incentive Program). The New Eagle Equity Warrants are exercisable at an exercise price of $27.82 per share (subject to adjustment as set forth in the New Eagle Equity Warrant Agreement). The New Eagle Equity Warrant Agreement contains customary anti-dilution adjustments in the event of any stock split, reverse stock split, stock dividend, reclassification, dividend or other distributions (including, but not limited to, cash dividends), or business combination transaction.
	Liquidity
	As further described in Note 8, under the Credit Agreement, the Company had financial covenants that began in 2013 and became increasingly restrictive each quarter. The covenants were primarily driven by the calculation of Credit Agreement EBITDA for the trailing twelve month periods, which is driven by charter hire rates. The Company met all of its covenants in 2013, other than the maximum leverage ratio at December 31, 2013. That ratio was exceeded primarily due to a recognized loss of $8.2 million on the Company’s shares of Korea Line Corporation (“KLC”) during the fourth quarter of 2013, as further described under “Note 6 investment - Korea Line Corporation”. The Company failed to meet both the maximum leverage ratio covenant and the minimum interest coverage ratio covenant at March 31, 2014 and June 30, 2014, and expected to fail both at their respective compliance measurement dates until the date of emergence from bankruptcy.
	On March 19, 2014, the Company received waivers for the violation of the maximum leverage ratio covenant as of December 31, 2013 and the violation of the maximum leverage ratio and minimum interest coverage ratio covenants at March 31, 2014, from the Consenting Lenders. Under the terms of the Waivers, the Consenting Lenders agreed to waive until June 30, 2014 certain potential events of default, subject to the Company's compliance with the terms, conditions and milestones as set forth in the Waiver, including a milestone requiring the Company and the Consenting Lenders to (i) agree on terms of a restructuring of the obligations outstanding under the Credit Agreement and (ii) execute a binding restructuring support agreement or similar agreement documenting such agreed-upon terms, by April 15, 2014.
	On April 15, 2014, April 30, 2014, May, 15, 2014, May 31, 2014, June 5, 2014, June 27, 2014, and July 15, 2014, the Company and the Consenting Lenders entered into a successive series of amendments to the Waivers extending the term of the Waivers and postponing the milestones thereunder through August 5, 2014.
	As consideration for the Consenting Lenders’ agreement to enter into the June 5, 2014 amendment (“Amendment No. 5”) to the Waivers and extend the milestone referred to above, Amendment No. 5 provided for a one-time forbearance fee payable to each Lender entering into Amendment No. 5 (the “Forbearance Fee”), the form of which to be determined by the Company, and the payment of which to be deferred, in accordance with the terms of Amendment No. 5.  In addition, Amendment No. 5 provided that following the request of either the Company or the majority of the holders of the warrants to purchase common stock of the Company (the “Warrants”) issued under the Warrant Agreement, dated as of June 20, 2012, between the Company and the other parties thereto (the “Warrant Agreement”), the Company and Lenders constituting a majority of the holders of the Warrants would amend certain of the provisions of the Warrant Agreement to eliminate the conditions restricting the exercise of the Warrants then outstanding, such that the Warrants would be immediately exercisable.  Upon the entry into such amendment, the Forbearance Fee would be forfeited.
	Subsequently, the Company determined that it would not make the scheduled June 30, 2014 interest payment under the Credit Agreement, and the Consenting Lenders agreed, pursuant to the June 27, 2014 amendment to the Waivers (“Amendment No. 6”), to forbear from exercising any rights or remedies with respect to this otherwise due interest payment until the termination of the forbearance period afforded by the Waivers. Interest was to continue to accrue on the unpaid interest payment during the period of forbearance at the penalty rate specified in the Credit Agreement.
	On July 2, 2014, the Company and certain of the lenders under its Credit Agreement (such lenders constituting “Majority Holders” under the Warrant Agreement (as defined below)), entered into Amendment No. 1 to Warrant Agreement (the “Warrant Amendment”), to amend certain of the terms of the Warrant Agreement, under which the Company issued the Warrants. One-third of the Warrants were exercisable immediately on the issue date thereof, the next third of the Warrants were exercisable when the price of the Company's common stock reached $10.00 per share (subject to certain customary adjustments in the event of stock splits, reverse stock splits and certain distributions to all holders of common stock) or when certain other events occurred (the “Trigger Price B Warrants”), and the last third of the warrants were exercisable when the price of the Company's common stock reached $12.00 per share (subject to the aforementioned adjustments) or when certain other events occurred (the “Trigger Price C Warrants”). The Warrant Amendment eliminated the conditions restricting the exercise of the Trigger Price B Warrants and the Trigger Price C Warrants held by lenders under the Credit Agreement (collectively, the “Lender Warrants”), including the minimum share price conditions described above, such that all such Lender Warrants were immediately exercisable. The Warrant Amendment also included a prohibition on the trade or transfer by any such lender of its Warrants, or shares of common stock received upon exercise thereof, except in connection with a transfer of such lender’s loans under the Credit Agreement, for so long as the Waivers, as the same may be amended or modified from time to time, or any successor agreement thereto, were in effect. In accordance with the terms of Amendment No. 5, the Forbearance Fee was forfeited by the Consenting Lenders contemporaneously with the entry into the Warrant Amendment.
	On August 6, 2014, the Company and each of its direct and indirect subsidiaries entered into the Restructuring Support Agreement referenced above with the Consenting Lenders.
	Accounting Guidance
	The Company was required to apply Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 852, Reorganizations , effective on August 6, 2014, which is applicable to companies in Chapter 11, which generally does not change the manner in which financial statements are prepared. However, it does require that the financial statements for periods subsequent to the filing of the Prepackaged Case distinguish transactions and events that are directly associated with the reorganization from the ongoing operations of the business. Revenues, expenses, realized gains and losses, and provisions for losses that can be directly associated with the reorganization and restructuring of the business must be reported separately as Reorganization items in the consolidated statements of operations beginning in the quarter ending September 30, 2014. The balance sheet must distinguish pre-petition Liabilities subject to compromise from both those pre-petition liabilities that are not subject to compromise and from post-petition liabilities. The Company has evaluated creditors’ claims for other claims that may also have priority over unsecured creditors. Liabilities that may be affected by a plan of reorganization must be reported at the amounts expected to be approved by the Bankruptcy Court, even if they may be settled for lesser amounts as a result of the plan or reorganization.  In addition, cash used by reorganization items in the consolidated statements of cash flows are disclosed in Note 3 – Cash Flow Information.
	In connection with the emergence from the Prepackaged Case, the Company believes it will qualify for fresh-start accounting.   Upon adoption of fresh-start accounting, the Company’s  assets and liabilities will be recorded at their value as of the fresh-start reporting date or emergence date. The fair values of the Company’s assets and liabilities as of that date may differ materially from the recorded values of its assets and liabilities as reflected in its historical consolidated financial statements.  In addition, the Company’s adoptions of fresh-start accounting may materially affect its results of operations following the fresh-start reporting dates, as the Company will have a new basis in its assets and liabilities.  Consequently, the Company’s historical financial statements may not be reliable indicators of its financial condition and results of operations for any period after it adopts fresh-start accounting. The Company is in the process of evaluating the potential impact of the fresh-start accounting on its consolidated financial statements. See Note 15 — Subsequent Events for a further discussion of fresh-start accounting.

Note_2_New_Accounting_Pronounc

Note 2 - New Accounting Pronouncements	9 Months Ended
	Sep. 30, 2014
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]	'
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	'
	Note 2. New Accounting Pronouncements
	In April 2014, the FASB issued an update Accounting Standards Update for Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity, Presentation of Financial Statements, and Property Plant and Equipment. Under this new guidance only disposals that represent a strategic shift that has (or will have) a major effect on the entity’s results and operations would qualify as discontinued operations. In addition, the new guidance expands the disclosure requirements for disposals that meet the definition of a discontinued operation and requires entities to disclose information about disposals of individually significant components that do not meet the definition of discontinued operations. The new standard is effective for interim and annual reporting periods in fiscal years that begin after December 15, 2014. The Company is evaluating the potential impact of this adoption on its consolidated financial statements.
	In May 2014, the FASB issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”), which supersedes nearly all existing revenue recognition guidance under U.S. GAAP. The core principle is that a company should recognize revenue when promised goods or services are transferred to customers in an amount that reflects the consideration to which an entity expects to be entitled for those goods or services. ASU 2014-09 defines a five step process to achieve this core principle and, in doing so, more judgment and estimates may be required within the revenue recognition process than are required under existing U.S. GAAP. The standard is effective for annual periods beginning after December 15, 2016, and interim periods therein, and shall be applied either retrospectively to each period presented or as a cumulative-effect adjustment as of the date of adoption. The Company is evaluating the potential impact of the adoption of this standard on its consolidated financial statements.
	In August 2014, the FASB issued ASU No. 2014-13, "Measuring the Financial Assets and the Financial Liabilities of a Consolidated Collateralized Financing Entity." This ASU is intended to provide guidance for situations in which the fair value of the financial assets of a collateralized financing entity differ from the fair value of its financial liabilities. The provisions of this ASU are effective for interim and annual periods beginning after December 15, 2015. The Company is evaluating the potential impact of the adoption of this standard on its consolidated financial statements.
	In August 2014, the FASB issued ASU No. 2014-15, "Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern." This ASU establishes specific guidance to an organization's management on their responsibility to evaluate whether there is substantial doubt about the organization's ability to continue as a going concern. The provisions of this ASU are effective for interim and annual periods beginning after December 15, 2016. The Company is evaluating the potential impact of the adoption of this standard on its consolidated financial statements.

Note_3_Cash_Flow_Information

Note 3 - Cash Flow Information	9 Months Ended
	Sep. 30, 2014
Supplemental Cash Flow Elements [Abstract]	'
Cash Flow, Supplemental Disclosures [Text Block]	'
	Note 3. Cash Flow Information
	The operating activities section of the Condensed Consolidated Statement of Cash Flows for the nine months ended September 30, 2014, includes reorganization expenses in the amount of $15,483,981 (refer to Note 10), of which $12,376,774 was paid through September 30, 2014 and $3,107,207 is included in accounts payable and accrued expenses.

Note_4_Accounts_Receivable_Net

Note 4 - Accounts Receivable, Net	9 Months Ended
	Sep. 30, 2014
Receivables [Abstract]	'
Financing Receivables [Text Block]	'
	Note 4. Accounts receivable, net
	Accounts receivable consist of the following:
		30-Sep-14			31-Dec-13
	Accounts receivable	$	14,043,988		$	11,197,101
	Less: Allowance for accounts receivable		(1,824,519	)		-
	Accounts receivable, net	$	12,219,469		$	11,197,101

Note_5_Vessels

Note 5 - Vessels	9 Months Ended
	Sep. 30, 2014
Property, Plant and Equipment [Abstract]	'
Property, Plant and Equipment Disclosure [Text Block]	'
	Note 5. Vessels
	Vessel and Vessel Improvements
	At September 30, 2014, the Company’s operating fleet consisted of 45 dry bulk vessels.
	Vessel and vessel improvements:
	Vessels and Vessel Improvements, at December 31, 2013	$	1,639,555,368
	Purchase of Vessel Improvements		149,756
	Depreciation Expense		(55,568,519	)
	Vessels and Vessel Improvements, at September 30, 2014	$	1,584,136,605

Note_6_Investment

Note 6 - Investment	9 Months Ended
	Sep. 30, 2014
Investments Schedule [Abstract]	'
Investment [Text Block]	'
	Note 6. Investment
	Korea Line Corporation
	Since 2007 the Company has had a chartering agreement with Korea Line Corporation (“KLC”). KLC experienced financial troubles beginning in 2011 and failed to meet its contractual obligations to the Company. Since 2011, KLC and the Company had modified the terms of its charter agreement a number of times; however, KLC continued to experience financial difficulties. In the first quarter of 2013, a comprehensive termination agreement between the Company and KLC became effective, as the settlement effectively terminated the charters with KLC. The Company received a cash payment of $10.3 million; released $3.5 million of bunker liabilities to KLC; released an aggregate $3.6 million balance related to KLC deferred revenue; released a $10.1 million balance related to the KLC unamortized fair value of charters below and above contract value; received KLC shares valued at $5.9 million; and received a note receivable valued at $2.7 million. The total aggregate consideration related to the KLC termination agreement was $36.1 million of which the Company recorded revenue associated with the termination of $32.8 million, related to amounts previously owed but not recognized, and a termination gain of $3.3 million.
	On May 9, 2013 the 538,751 additional KLC common shares were issued to the Company and were released from the Korean Securities Depository on November 11, 2013. These shares replaced the note receivable recorded pursuant to the January 3, 2013, termination agreement. The fair market value of the shares upon issuance was in excess of the fair value of the receivable. As a result, we recorded an incremental gain of $25.6 million in the second quarter of 2013. Subsequent to June 30, 2013, the Company received payment on the remaining note receivable.
	As of December 31, 2013 and September 30, 2014, the Company’s sole remaining interest in KLC is an investment in capital stock.
	The KLC investment is designated as Available For Sale (“AFS”) and is reported at its fair value, with unrealized gains and losses recorded in equity as a component of accumulated other comprehensive income (loss) (“AOCI”). The fair value of KLC shares are determined from the market price as quoted on the Korean Stock Exchange and by converting the South-Korean Won (”KRW”) extended value into USD with the exchange rate applicable on date of conversion. The Company reviews the investment in KLC for impairment on quarterly basis.
	As of March 31, 2013, September 30, 2013 and December 31, 2013, the change in the fair value of our KLC investment was considered as other-than-temporary, and therefore the Company recorded non-cash impairment losses of $3.0 million, $7.3 million and $8.2 million, respectively, in other expenses in the first, third and fourth quarters of 2013, respectively.
	The fair value of the KLC investments subsequent to September 30, 2014, has been recovered and increased in value. During the nine month period, the KLC shares were volatile and at times valued above and below the Company's book value. Therefore, the Company concluded that as of March 31, 2014, June 30, 2014 and September 30, 2014, the change in the fair value of the KLC investment is “temporary,” and the Company recorded an unrealized loss of $2.1 million as of March 31, 2014, an unrealized gain of $1.4 million as of June 30, 2014 and an unrealized gain of $0.3 million as of September 30, 2014 in shareholders’ equity as a component of Accumulated Other Comprehensive Income. No impairment charges were recognized for the nine months ended September 30, 2014.
	The following table represents KLC capital stock which is recorded at fair value:
		No of KLC	Cost Basis-	Fair Value	Unrealized	Other-than-	Gain /
		Shares	Adjusted		Gain / (Loss) re	Temporary	(Loss) On
					ported in	Loss reported	Sale of
					OCI	in Earnings-	KLC
						YTD	Stock-YTD
	Balance at	38,674	$963,119	$197,509	($765,609)	-	-
	31-Dec-12
	KLC Stock issued	585,983	33,959,454	33,959,454	-	-	-
	KLC Stock sold	-58,128	-2,690,768	-2,690,768	-	-	-
	Other-than-Temporary	-	-18,414,366	-17,648,756	765,609	-18,414,366	-417,966
	Loss Adjustments
	Balance at	566,529	$13,817,439	$13,817,439	-	($18,414,366)	($417,966)
	31-Dec-13
	Fair Value	-	-	-442,288	($442,288)	-	-
	Adjustments, net
	Balance at	566,529	$13,817,439	$13,375,151	($442,288)	-	-
	30-Sep-14

Note_7_Liabilities_Subject_to_

Note 7 - Liabilities Subject to Compromise	9 Months Ended
	Sep. 30, 2014
Liabilities Subject to Compromise [Abstract]	'
Liabilities Subject To Compromise [Text Block]	'
	Note 7. Liabilities Subject to Compromise
	As a result of the filing of the Prepackaged Case on August 6, 2014, the payment of pre-petition indebtedness is subject to compromise or other treatment under a plan of reorganization. Generally, actions to enforce or otherwise effect payment of pre-bankruptcy filing liabilities are stayed. Although payment of pre-petition claims generally is not permitted, the Court granted the Company authority to pay certain pre-petition claims in designated categories and subject to certain terms and conditions. This relief generally was designed to preserve the value of the Company’s businesses and assets.  Among other things, the Court authorized the Company to pay certain pre-petition claims relating to employee wages and benefits, customers, vendors, and suppliers in the ordinary course of business.
	The Company has been paying and intends to continue to pay undisputed post-petition claims in the ordinary course of business. With respect to pre-petition claims, the Company has notified all known claimants of the deadline to file a proof of claim with the Court. The Company’s Liabilities subject to compromise represent the Company’s current estimate of claims expected to be allowed by the Court.
	Pre-petition liabilities that are subject to compromise are required to be reported at the amounts expected to be allowed, even if they may be settled for lesser amounts. The amounts currently classified as “Liabilities subject to compromise” may be subject to future adjustments depending on Court actions, further developments with respect to disputed claims, determinations of the secured status of certain claims, the values of any collateral securing such claims, or other events. Management expects that certain amounts currently classified as “Liabilities subject to compromise” may in fact be paid in the ordinary course as they come due. Any resulting changes in classification will be reflected in subsequent financial statements.
	As of September 30, 2014, based on the Company’s current estimate of claims expected to be allowed by the Court, Liabilities subject to compromise consist of the following:
		30-Sep-14
	Term Loan	$	1,129,478,741
	Payment-in-kind loans		62,423,569
	Interest payable		15,102,925
	Total	$	1,207,005,235

Note_8_Debt

Note 8 - Debt	9 Months Ended
	Sep. 30, 2014
Disclosure Text Block [Abstract]	'
Long-term Debt [Text Block]	'
	Note 8. Debt
	Current debt consists of the following:
		September 30,		December 31,
		2014		2013
	Term Loans	$	1,129,478,741	$	1,129,478,741
	Payment-in-kind loans		62,423,569		44,565,437
	Debtor-In-Possession Loans		25,000,000		-
	Total current debt	$	1,216,902,310	$	1,174,044,178
	The Fourth Amended and Restated Credit Agreement
	On June 20, 2012, the Company entered into a Fourth Amended and Restated Credit Agreement to its credit facility agreement, dated as of October 19, 2007, as amended (the “Credit Agreement”), which, among other things, (i) permanently waives any purported defaults or events of defaults that were the subject of a temporary waiver under the Sixth Amendatory and Commercial Framework Implementation Agreement (the "Sixth Amendment") to the Third Amended and Restated Credit Agreement dated October 19, 2007, including any alleged events of default arising from any purported breach of the minimum adjusted net worth covenant that occurred as a result of any failure to maintain the required adjusted net worth; (ii) converts the $1,129,478,741 outstanding under the revolving credit facility into a term loan; (iii) sets the maturity date as December 31, 2015, and, subject to the Company's satisfaction of certain conditions, including a collateral coverage ratio at December 31, 2015 of less than 80%, provides an option to the Company to further extend the maturity date by an additional 18 months to June 30, 2017 (the "Termination Date"); (iv) requires no mandatory repayments of principal until the Termination Date, other than a quarterly sweep of cash on hand in excess of $20,000,000 and upon the sale of vessels, additional financings or future equity raises by the Company. All amounts outstanding under the term loan were to bear interest at LIBOR plus a margin that would include a payment-in-kind ("PIK") component. The initial cash margin of 3.50% and PIK margin of 2.50% can be reduced on the basis of reduced leverage and proceeds from future equity raises by the Company.
	The Credit Agreement also provided for a new Liquidity Facility in the aggregate amount of $20,000,000, which permits the purchase or sale of vessels within certain parameters, permits the management of third party vessels and provides that all capitalized interest will be evidenced in the form of PIK loans, which will mature on the Termination Date.  On the Termination Date, the Company may elect to either (i) repay the PIK loans in cash; or (ii) convert the PIK loans into shares of cumulative convertible preferred stock, par value $10.00 per share. As of September 30, 2014, the outstanding amount of the term loan was $1,129,478,741, the amount of the PIK loans was $62,423,569 and no amount was drawn on the Liquidity Facility.
	In addition, the Credit Agreement replaced the previously existing financial covenants and substituted them with new covenants, which requires the Company to (i) maintain a maximum leverage ratio of the term loan indebtedness, excluding the PIK loans, to Credit Agreement EBITDA (as defined in the Credit Agreement) on a trailing four quarter basis, commencing in the quarterly period ending September 30, 2013, of 13.9:1, December 31, 2013, of 12.3:1, March 31, 2014 of 10.6:1, June 30, 2014 of 9.2:1, September 30, 2014 of 8.5:1, December 31, 2014 of 8.1:1, March 31, 2015 of 7.8:1, June 30, 2015 of 7.6:1, September 30, 2015 of 7.5:1, and December 31, 2015 of 7.3:1 and, should the Termination Date be extended under the Company’s option, further declining in intervals to 6.2:1 for the quarterly period ending March 31, 2017; (ii) maintain a minimum interest coverage ratio of Credit Agreement EBITDA to cash interest expenses on a trailing four quarter basis, expressed as a percentage, commencing in the quarterly period ending June 30, 2013, of 130%, September 30, 2013, of 140%, December 31, 2013, of 160%, March 31, 2014 of 180%, June 30, 2014 of 200%, September 30, 2014 of 210%, December 31, 2014 of 220%, March 31, 2015 of 220%, June 30, 2015 of 220%, September 30, 2015 of 220%, and December 31, 2015 of 220% and, should the Termination Date be extended, further escalating in intervals to 230% for the quarterly period ending March 31, 2017; (iii) maintain free cash with the agent in one or more accounts in an amount equal to $500,000 per vessel owned directly or indirectly by the Company, provided that the unutilized amount of the liquidity facility shall be deemed to constitute free cash for these purposes; and (iv) maintain a maximum collateral coverage ratio, commencing in the quarterly period ending September 30, 2014, of 100% of the term loan indebtedness and any related swap exposure, declining in intervals to 80% for the quarterly period ending December 31, 2015 and, should the Termination Date be extended, further declining in intervals to 70% for the quarterly period ending March 31, 2017. Refer to Note 1 - General Information- Liquidity for further information regarding compliance with our covenants.
	In connection with the Credit Agreement, the Company entered into a Warrant Agreement, dated June 20, 2012, pursuant to which the Company issued 3,148,584 warrants convertible on a cashless basis into shares of the Company's common stock, par value $0.01 (the "Warrant Shares"), at a strike price of $0.01 per share of common stock. One-third of the warrants are exercisable immediately, the next third of the warrants are exercisable when the price of the Company's common stock reaches $10.00 per share and the last third of the warrants are exercisable when the price of the Company's common stock reaches $12.00 per share. Unexercised warrants will expire on June 20, 2022. The Company determined the relative fair value of the Warrant Shares at $7.2 million using the Monte Carlo simulation which was performed, and the mean value was selected. The assumptions used in the Monte Carlo simulation were the underlying stock price of $2.98, risk-free rate of 1.64%, expected volatility of 79.3%, expected term of 10 years and expected dividend yield of 0%. The fair value of the warrants was recorded as deferred financing cost and amortized over the life of the term loan agreement.
	On July 2, 2014, the Company and certain of the Company’s lenders under the Credit Agreement entered into the Warrant Amendment to amend certain of the terms of the Warrant Agreement. The Warrant Amendment eliminated the conditions restricting the exercise of the Trigger Price B Warrants and the Trigger Price C Warrants held by lenders under the Credit Agreement, including the minimum share price conditions described above, such that all such Lender Warrants were immediately exercisable. The Warrant Amendment also included a prohibition on the trade or transfer by any such lender of its Warrants, or shares of common stock received upon exercise thereof, except in connection with a transfer of such lender’s loans under the Credit Agreement, for so long as the Waivers, as the same may be amended or modified from time to time, or any successor agreement thereto, were in effect. Refer to Note 1–General Information- Liquidity for additional information. The Company valued the Warrant Amendment and determined that there is no incremental change in fair value due to the modification. The Company determined the relative fair value of the Warrants before the modification by using the Monte Carlo simulation which was performed, and the mean value was selected. The assumptions used in the Monte Carlo simulation were the underlying stock price of $2.88, risk-free rate of 1.33%, expected volatility of 83.3%, expected term of 7.9 years and expected dividend yield of 0%. The fair value of the Warrants the day after the modification is based on $2.88 share price further discounted after factoring in restrictions under the Warrant Amendment.
	The Company’s obligations under the Credit Agreement were secured by a first priority mortgage on each of the vessels in its fleet, and by a first assignment of all freights, earnings, insurances and requisition compensation relating to its vessels. The Credit Agreement also limited the Company’s ability to create liens on its assets in favour of other parties.
	For the three months ended September 30, 2014, the interest expense included 2% default interest on the unpaid interest as of June 30, 2014 and 6% interest on the DIP facility post-bankruptcy filing in addition to facility term loan interest at 3.5% margin over Libor. Interest expense ceased being accrued as of August 6, 2014 except for the Debtor-In-Possession interest.
	For the nine months ended September 30, 2014, interest rates on the outstanding debt ranged from 3.73% to 8.23%, including a margin of 3.50% over LIBOR. The weighted average effective interest rate was 2.94%.
	Interest Expense, inclusive of the PIK loans and DIP loans, consisted of:
		Three Months Ended				Nine Months Ended
		30-Sep-14		30-Sep-13		30-Sep-14		30-Sep-13
	Term Loans Interest	$	7,380,769	$	18,623,406	$	43,299,761	$	55,686,643
	Amortization of Deferred Financing Costs		4,042,989		2,106,220		16,278,544		6,271,128
	Debtor-In-Possession Loan Interest		311,458		-		311,458		-
	Amortization of DIP Deferred Financing Costs		576,923		-		576,923		-
	Total Interest Expense	$	12,312,139	$	20,729,626	$	60,466,686	$	61,957,771
	The Bankruptcy Code generally provides guidance that specifically limits postpetition interest accruals on secured debt and allows accrual only when the collateral securing the claims exceeds the principal amount of the debt and any accrued interest. As these criteria were not met, the Company ceased to accrue interest on the Term and PIK Loans as of August 6, 2014, with the exception of the interest on Debtor-In-Possession loan facility. As a result, during the bankruptcy proceedings, interest in the amount of $14,844,413 was not accrued for the period from August 6, 2014 through September 30, 2014. Interest paid, exclusive of the PIK loans, in the nine-month periods ended September 30, 2014 and 2013 amounted to $10,714,117 and $36,124,215, respectively. The Company did not make the scheduled June 30, 2014 interest payment or any other payment subsequent to this date. Interest payments under the Credit Agreement, and the Consenting Lenders agreed, pursuant to Amendment No. 6, to forbear from exercising any rights or remedies with respect to this otherwise due interest payment until the termination of the forbearance period afforded by the Waiver. Interest continued to accrue on the unpaid interest payment during the period of forbearance at the penalty rate specified in the Credit Agreement. The commencement of the Prepackaged Case constituted an event of default that accelerated the Company’s obligations under the Credit Agreement, subject to an automatic stay of any action to collect, assert or recover a claim against the Company and the application of the applicable provisions of the Bankruptcy Code, see Note 1 above.
	Consent and Amendment No. 1 to the Credit Agreement
	On August 6, 2014, the Company entered into Consent and Amendment No. 1 (the “Credit Agreement Amendment”) to its Credit Agreement to facilitate the Company’s entry into the DIP Loan Facility (described below) and associated security agreement, pledge agreement and ship mortgages, and the granting of first-priority liens on all assets of the Company and the Guarantors (as defined below), subject to certain exceptions, and to amend the definition of “Security Period” in the Credit Agreement, the General Security Agreement, and the Pledge Agreement (as such terms are defined in the Credit Agreement).
	Senior Secured Debtor-in-Possession Term Loan Agreement
	On August 8, 2014, the Court entered an interim order (the “Interim Order”) authorizing the Company’s entry into the DIP Loan Facility. Following the entry of the Interim Order, on August 8, 2014, the Company entered into a senior secured debtor-in-possession term loan agreement (the “DIP Loan Facility”) among the Company, the subsidiary guarantors from time to time party thereto (the “Guarantors”), the lenders party thereto (the “DIP Lenders”), Wilmington Trust (London) Limited, as DIP Agent and Security Trustee (the “DIP Security Trustee”) and Goldman Sachs Lending Partners LLC, as Sole Bookrunner and Sole Lead Arranger.
	The DIP Loan Facility has a nine-month term, subject to a three month extension at the option of the Company (the “Extension Option”) provided no default or Event of Default has occurred thereunder and upon payment by the Company of an extension fee to the DIP Lenders equal to 0.75% of each DIP Lender’s commitment thereunder, unless prior to the end of such nine month period, the Plan is confirmed pursuant to an order entered by the Court, in which case, the DIP Loan Facility will terminate on the date of such confirmation. The amount committed and made available under the DIP Loan Facility is $50 million, of which $25 million is available following the entry of the Interim Order. On September 19, 2014, the Court entered an order approving the DIP Loan Facility on a final basis.
	The DIP Loan Facility bears interest at a rate of LIBOR plus an applicable margin of (i) 5.00% or (ii) upon the exercise of the Extension Option, 7.00%. The DIP Loan Facility has a minimum liquidity covenant of $22.5 million and a maximum capital expenditures covenant, each tested as of the end of each fiscal monthly period, and a budget compliance covenant tested on a rolling four-week look-back basis, commencing with the four-week period ending August 29, 2014 and on each four week anniversary of such date.
	The DIP Loan Facility is secured by first-priority liens on all assets of the Company and the Guarantors for the benefit of the secured parties thereunder (the “DIP Loan Secured Parties”), except for such assets as otherwise provided for in the Court order related to the DIP Loan Facility, and subject to certain exceptions and permitted liens.
	Discharge
	On the Effective Date, and in accordance with the Plan, the Credit Agreement was terminated and all liens and mortgages related thereto were released as part of the Plan, and the DIP Loan Facility was repaid in full and all liens and mortgages related thereto were released.
	Exit Financing Facility
	On October 9, 2014, the Company entered into the Exit Financing Facility with the Exit Lenders. The Exit Financing Facility is in the amount of $275 million, including a $50 million undrawn revolving credit facility, and matures on October 15, 2019. Amounts drawn under the Exit Financing Facility bear interest at a rate of LIBOR plus a margin (the “Margin”) ranging between 3.50% and 4.00% per annum. The revolving credit facility is subject to an annual commitment fee of 40% of the Margin.
	The Company’s obligations under the Exit Financing Facility will be secured by a first priority mortgage on each of the vessels in its fleet and such other vessels that it may from time to time include with the approval of the Exit Lenders, a first assignment of its earnings account, its liquidity account and its vessel-owning subsidiaries’ earnings accounts, a first assignment of all charters (having a term which may exceed 18 months), freights, earnings, insurances, requisition compensation and management agreements with respect to the vessels and a first priority pledge of the membership interests of each of its vessel-owning subsidiaries. The Company may grant additional security to the Exit Lenders from time to time in the future.
	The Exit Financing Facility contains financial covenants requiring the Company, among other things, to ensure that: the aggregate market value of the vessels in the Company’s fleet at all times does not fall below between 150% and 165% of the aggregate principal amount of debt outstanding under the Exit Financing Facility; the total financial indebtedness of the Company and all of its subsidiaries on a consolidated basis divided by the sum of (i) the total shareholders’ equity for the Company and all of its subsidiaries (minus goodwill and other non-tangible items) and (ii) the total financial indebtedness of the Company and all of its subsidiaries on a consolidated basis, shall not be more than 0.65; the aggregate of the Company’s and its subsidiaries’ EBITDA will not be less than 2.5x of the aggregate amount of interest incurred and net amounts payable under interest rate hedging arrangements during the relevant particular period; and the Company maintains a minimum liquidity of not less than the greater of (i) $20,000,000 and (ii) $500,000 per vessel in the Company’s fleet. In addition, the Exit Financing Facility also imposes operating restrictions on the Company including limiting the Company’s ability to, among other things: pay dividends; incur additional indebtedness; create liens on assets; acquire and sell capital assets (including vessels); merge or consolidate with, or transfer all or substantially all of the Company’s assets to, another person; enter into a new line of business. The Company shall repay the Term Loan in 20 equal consecutive quarterly repayment instalments each in an amount of U.S. $3,906,250. The first instalment of the Term Loan shall be repaid on the date falling three months after the First Drawdown Date and the last such instalment on the Maturity Date
	The Exit Financing Facility also includes customary events of default, including those relating to a failure to pay principal or interest, a breach of covenant, representation or warranty, a cross-default to other indebtedness and non-compliance with security documents. Further, there would be a default if any event occurs or circumstances arise in light of which, in the Exit Lenders’ judgment, there is significant risk that the Company is or would become insolvent. The Company is not permitted to pay dividends if there is a default or a breach of a loan covenant under the Exit Financing Facility or if the payment of the dividends would result in a default or breach of a loan covenant. Indebtedness under the Exit Financing Facility may also be accelerated if the Company experiences a change of control.

Note_9_Derivative_Instruments_

Note 9 - Derivative Instruments and Fair Value Measurements

9 Months Ended

Sep. 30, 2014

Disclosure Text Block [Abstract]

'

Derivatives and Fair Value [Text Block]

'

Note 9. Derivative Instruments and Fair Value Measurements

Interest-Rate Swaps

Historically, the Company entered into interest rate swaps to effectively convert a portion of its debt from a floating to a fixed-rate basis. Under these swap contracts, exclusive of applicable margins, the Company pays fixed rate interest and receives floating-rate interest amounts based on three-month LIBOR settings. The swaps are designated and qualify as cash flow hedges. As of September 30, 2014 and December 31, 2013, the Company did not have any open positions and no fair value for interest rate swaps is reflected in the accompanying balance sheets.

Forward freight agreements, bunker swaps and freight derivatives

The Company trades in forward freight agreements (“FFAs”), bunker swaps and freight derivatives markets, with the objective of utilizing these markets as economic hedging instruments that reduce the risk of specific vessels to changes in the freight market and/or bunker costs. The Company’s FFAs, bunker swaps and freight derivatives have not qualified for hedge accounting treatment. As of September 30, 2014 and December 31, 2013, the Company did not have any open positions and no fair value for derivative instruments is reflected in the accompanying balance sheets.

Tabular disclosure of derivatives location

No portion of the cash flow hedges shown below was ineffective during the period ended September 30, 2014. The effect of cash flow hedging relationships on the balance sheets as of September 30, 2014 and December 31, 2013, and the statement of operations for the periods ended September 30, 2014 and 2013 are as follows:

The effect of derivative instruments on statements of operations:

Effective Portion of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss)

Three Months Ended

Nine Months Ended

Location

September 30,

September 30,

September 30,

September 30,

of Gain (Loss)

2014

2013

2014

2013

Recognized

Derivatives designated as hedging instruments

Interest rate swaps

Interest expense

—

$

(657,812

)

—

$

(2,302,273

)

Cash Collateral Disclosures

The Company does not offset fair value amounts recognized for derivatives by the right to reclaim cash collateral or the obligation to return cash collateral. The amount of collateral to be posted is defined by the terms of the respective master agreement executed with counterparties or exchanges and is required when agreed upon threshold limits are exceeded. As of September 30, 2014 and December 31, 2013, the Company had no outstanding amounts paid as collateral related to the derivative fair value positions.

Fair Value Measurements

The following methods and assumptions were used to estimate the fair value of each class of financial instrument:

Cash, cash equivalents and restricted cash—the carrying amounts reported in the consolidated balance sheet for interest-bearing deposits approximate their fair value due to their short-term nature thereof.

Debt—the carrying amounts of borrowings under the DIP Loan Facility and revolving credit agreement approximate their fair value, due to the variable interest rate nature thereof.

Interest rate swaps—the fair value of interest rate swaps (used for hedging purposes) is the estimated amount that the Company would receive or pay to terminate the swaps at the reporting date.

Forward freight agreements (FFAs)—the fair value of FFAs is determined based on quoted rates.

Freight and bunker derivative instruments—the fair value of freight and bunker derivative contracts is the estimated amount that the Company would receive or pay to terminate the option contracts at the reporting date.

Bunker swaps—the fair value of bunker swaps is the estimated amount that the Company would receive or pay to terminate the swaps at the reporting date.

Investment— include our available-for-sale securities that are traded in active market internationally. The fair value is measured by using closing stock price from active market.

The Company defines fair value, establishes a framework for measuring fair value and provides disclosures about fair value measurements. The fair value hierarchy for disclosure of fair value measurements is as follows:

Level 1 – Quoted prices in active markets for identical assets or liabilities. Our Level 1 non-derivatives include cash, money-market accounts, restricted cash accounts and investment.

Level 2 – Quoted prices for similar assets and liabilities in active markets or inputs that are observable. Our Level 2 non-derivatives include our DIP Loan Facility and term loan account.

Level 3 – Inputs that are unobservable (for example cash flow modeling inputs based on assumptions).

The following table summarizes assets and liabilities measured at fair value on a recurring basis at September 30, 2014 and December 31, 2013:

30-Sep-14

31-Dec-13

Level 1

Level 2

Level 3

Level 1

Level 2

Level 3

Assets:

Investment

$

13,375,151

—

—

$

13,817,439

—

—

Note_10_Reorganization_ItemsNe

Note 10 - Reorganization Items-Net	9 Months Ended
	Sep. 30, 2014
Reorganizations [Abstract]	'
Reorganization under Chapter 11 of US Bankruptcy Code Disclosure [Text Block]	'
	Note 10. Reorganization Items-Net
	Reorganization items, net represent amounts incurred and recovered subsequent to the bankruptcy filing as a direct result of the filing of the Prepackaged Case and are comprised of the following for the three and nine months ended September 30, 2014:
		For the		For the
		Three Months Ended		Nine Months Ended
		30-Sep-14		30-Sep-14
	Professional fees incurred	$	7,311,240	$	15,483,981
	Total	$	7,311,240	$	15,483,981
	During the three and nine months ended September 30, 2014, there were no items netted with the reorganization items.
	The Company paid $5,065,530 and $12,376,774 during the three and nine months ended September 30, 2014, respectively.

Note_11_Commitments_and_Contin

Note 11 - Commitments and Contingencies	9 Months Ended
	Sep. 30, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Commitments and Contingencies Disclosure [Text Block]	'
	Note 11. Commitments and Contingencies
	Legal Proceedings
	Refer to Note 1 - Basis of Presentation and General Information for information concerning the Prepackaged Case.
	The Company is involved in legal proceedings and may become involved in other legal matters arising in the ordinary course of its business. The Company evaluates these legal matters on a case-by-case basis to make a determination as to the impact, if any, on its business, liquidity, results of operations, financial condition or cash flows.
	Vessel Technical Management Contract
	The Company has technical management agreements for certain of its vessels with independent technical managers. The Company paid average monthly technical management fees of $10,708 and $10,315 per vessel during the nine months ended September 30, 2014 and 2013, respectively.
	Other Commitments
	On July 28, 2011, the Company entered into an agreement to charter-in a 37,000 dwt newbuilding Japanese vessel that was delivered in October 2014 for seven years with an option for an additional one year. The hire rate for the first to seventh year is $13,500 per day and $13,750 per day for the eighth year option. The Company has options to purchase the vessel starting at the end of the fifth year.
	Refer to Note 1 - General Information- Bankruptcy Filing for further information regarding our voluntary Prepackaged Case filed under the Bankruptcy Code with the Court.

Note_12_Related_Party_Transact

Note 12 - Related Party Transactions	9 Months Ended
	Sep. 30, 2014
Related Party Transactions [Abstract]	'
Related Party Transactions Disclosure [Text Block]	'
	Note 12. Related Party Transactions
	On August 4, 2009, the Company entered into a management agreement (the "Management Agreement") with Delphin Shipping LLC ("Delphin"), a Marshall Islands limited liability company affiliated with Kelso Investment Associates VII, KEP VI, LLC and the Company's Chief Executive Officer, Sophocles Zoullas.  Delphin was formed for the purpose of acquiring and operating dry bulk and other vessels. Under the terms of the Management Agreement, the Company provides commercial and technical supervisory vessel management services to dry bulk vessels acquired by Delphin for a fixed monthly management fee based on a sliding scale. Pursuant to the terms of the Management Agreement, the Company has been granted an opportunity to acquire for its own account any dry bulk vessel that Delphin proposes to acquire.  The Company has also been granted a right of first refusal on any dry bulk charter opportunity, other than a renewal of an existing charter for a Delphin-owned vessel that the Company reasonably deems suitable for a Company-owned vessel.  The Management Agreement also provides the Company a right of first offer on the sale of any dry bulk vessel by Delphin. The term of the Management Agreement is one year and is renewable for successive one year terms at the option of Delphin.
	Pursuant to the Management Agreement, the Company contracted to provide commercial and technical supervisory management services for Delphin vessels for a monthly fee of $15,834 for the first 10 vessels, $11,667 for the second 10 vessels and $8,750 for the third 10 vessels. Construction of the first vessel commenced in December 2010. Total management fees for the periods ended September 30, 2014 and 2013 amounted to $1,635,066 and $1,635,066 respectively. The advanced balance received from Delphin on account for the management of its vessels as of September 30, 2014 amounted to $863,015. The total reimbursable expenses for the periods ended September 30, 2014 and 2013 amounted to $181,595 and $224,274 respectively. The balance due from Delphin as of September 30, 2014 amounted to $1,695. The balance due mainly consists of reimbursable expenses.
	On the Effective Date, the Management Agreement was amended and restated (as so amended and restated, the “Amended Management Agreement”). Under the Amended Management Agreement, the Company will continue to supply technical vessel management supervision services and commercial vessel management services to Delphin and vessel owning subsidiaries of Delphin. Such services will continue to be provided for dry bulk vessels owned by Delphin. The nature of the technical vessel management services and the commercial vessel management services to be provided by the Company are set forth in the Amended Management Agreement. The technical management fee under the Amended Management Agreement shall be $700 per vessel per day. The commercial management fee shall be 1.25% of charter hire; provided, however, that no commercial management fee shall be payable with respect to charter hire that is earned while a vessel is a member of a pool and with respect to which a fee is paid to the pool manager.
	The Amended Management Agreement contains an acknowledgement that the Company may have a conflict in pursuing charter opportunities for Delphin’s vessels and provides a means for dealing which such conflict. The initial term of the Amended Management Agreement is one year from the Effective Date. The Amended Management Agreement is thereafter renewable for successive one year terms at the option of Delphin. The Amended Management Agreement also contains certain termination events in favor of each of Delphin and the Company.

Note_13_Loss_Per_Common_Share

Note 13 - Loss Per Common Share	9 Months Ended
	Sep. 30, 2014
Earnings Per Share [Abstract]	'
Earnings Per Share [Text Block]	'
	Note 13. Loss Per Common Share
	The computation of basic net loss per share is based on the weighted average number of common shares outstanding during the period. Weighted average shares outstanding for the period ended September 30, 2014, includes the weighted average underlying Warrant Shares issuable upon exercise of the 615,997 warrants at the exercise price of $0.01 per share. In accordance with U.S. GAAP, the Company has given effect to the issuance of these warrants in computing basic net loss per share because the underlying shares are issuable for little or no cash consideration. Diluted net loss per share gives effect to stock options and restricted stock units using the treasury stock method, unless the impact is anti-dilutive. Diluted net loss per share as of September 30, 2014, does not include 123,667 restricted stock units and 1,727,667 stock options as their effect was anti-dilutive. Diluted net loss per share as of September 30, 2013, does not include 303,664 restricted stock units and 1,908,371 stock options as their effect was anti-dilutive.
		Three Months Ended						Nine Months Ended
		September 30,			September 30,			September 30,			September 30,
		2014			2013			2014			2013
	Net loss	$	(45,857,654	)	$	(37,630,051	)	$	(113,107,599	)	$	(39,294,848	)
	Weighted Average Shares – Basic		19,172,717			16,986,395			17,785,290			16,973,813
	Dilutive effect of stock options and restricted stock units		-			-			-			-
	Weighted Average Shares - Diluted		19,172,717			16,986,395			17,785,290			16,973,813
	Basic Earnings (Loss) Per Share	$	(2.39	)	$	(2.22	)	$	(6.36	)	$	(2.32	)
	Diluted Earnings (Loss) Per Share	$	(2.39	)	$	(2.22	)	$	(6.36	)	$	(2.32	)

Note_14_Stock_Incentive_Plans

Note 14 - Stock Incentive Plans	9 Months Ended
	Sep. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	'
	Note 14. Stock Incentive Plans
	2011 Equity Incentive Plan. In November 2011, our shareholders approved the 2011 Equity Incentive Plan (the “2011 Plan”) for the purpose of affording an incentive to eligible persons. The 2011 Equity Incentive Plan provides for the grant of equity based awards, including stock options, stock appreciation rights, restricted stock, restricted stock units, dividend equivalents, unrestricted stock, other equity based or equity related awards, and/or performance compensation awards based on or relating to the Company's common shares to eligible non-employee directors, officers, employees or consultants. The 2011 Plan is administered by a compensation committee or such other committee of the Company's board of directors. An aggregate of 5.9 million of the Company's common shares have been authorized for issuance under the 2011 Plan. The shares reserved for issuance under the 2011 Plan did not adjust in accordance with the 1 for 4 reverse stock split that occur in May 2012. However, the 2011 Plan was approved by shareholders subject to the Company’s confirmation in the proxy materials relating to the approval of the 2011 Plan that no options granted under the plan would, in the aggregate, exceed 10% of the Company’s issued and outstanding shares on a fully diluted basis on the date the options first become exercisable.
	2009 Equity Incentive Plan. In May 2009, our shareholders approved the 2009 Equity Incentive Plan (the “2009 Plan”) for the purpose of affording an incentive to eligible persons. The 2009 Plan provides for the grant of equity based awards, including stock options, stock appreciation rights, restricted stock, restricted stock units, dividend equivalents, unrestricted stock, other equity based or equity related awards, and/or performance compensation awards based on or relating to the Company’s common shares to eligible non-employee directors, officers, employees or consultants. The 2009 Plan is administered by a compensation committee or such other committee of the Company’s board of directors. A maximum of 1.05 million of the Company’s common shares have been authorized for issuance under the 2009 Plan, which have been adjusted in accordance with the one-for-four reverse stock split effective on May 22, 2012.
	As of September 30, 2014, RSUs covering a total of 123,667 of the Company’s shares are outstanding. The restricted stock units (“RSUs”) vest ratably between three to five years. These RSUs also entitle the participant to receive a dividend equivalent payment on the unvested portion of the underlying shares granted under the award, each time the Company pays a dividend to the Company’s shareholders. The dividend equivalent rights on the unvested RSUs are forfeited upon termination of employment. The Company is amortizing to non-cash compensation expense the fair value of the non-vested restricted stock at the grant date. For the nine months ended September 30, 2014 and 2013, the amortization charge was $394,968 and $3,494,528, respectively.
	As of September 30, 2014 and December 31, 2013, options covering 1,727,667 of the Company’s common shares are outstanding with exercise prices ranging from $3.34 to $87.52 per share (the market prices at dates of grants). The options granted to the independent non-employee directors vested and became exercisable on the grant dates. The options granted to members of its management under the 2005 Plan and 2009 Plan vest and become exercisable over three years. The options granted to members of its management under the 2011 Plan vest in four equal annual installments beginning on the grant date. All options expire between five to ten years from the date of grant. For the nine months ended September 30, 2014 and 2013, the Company has recorded a non-cash compensation charge from stock options of $370,371 and $833,650, respectively.
	The non-cash compensation expenses recorded by the Company and included in General and Administrative Expenses are as follows:
		Three Months Ended				Nine Months Ended
		30-Sep-14		30-Sep-13		30-Sep-14		30-Sep-13
	Stock Option Plans	$	135,039	$	154,851	$	370,371	$	833,650
	Restricted Stock Grants		61,940		407,753		394,968		3,494,528
	Total Non-cash compensation expense	$	196,979	$	562,604	$	765,339	$	4,328,178
	On the Effective Date, in accordance with the Plan, the Company adopted the post-emergence Management Incentive Program, which provides for the distribution of New Eagle MIP Primary Equity in the form of shares of New Eagle Common Stock, and New Eagle MIP Options, to the participating senior management and other employees of the reorganized Company. The New Eagle MIP Primary Equity is subject to vesting, but the holder thereof is entitled to receive all dividends paid with respect to such shares as if such New Eagle MIP Primary Equity had vested on the grant date (subject to forfeiture by the holder in the event that such grant is terminated prior to vesting unless the administrator of the Management Incentive Program determines otherwise). The New Eagle MIP Options will contain adjustment provisions to reflect any transaction involving shares of New Eagle Common Stock, including as a result of any dividend, recapitalization, or stock split, so as to prevent any diminution or enlargement of the holder’s rights under the award.
	On the Effective Date, the Company granted to its Chief Executive Officer, 540,540 shares of New Eagle MIP Primary Equity and New Eagle MIP Options exercisable for 675,676 shares at an exercise price of $18 and 810,811 shares at an exercise price of $25.25 on the Effective Date under the Management Incentive Program.

Note_15_Subsequent_Events

Note 15 - Subsequent Events	9 Months Ended
	Sep. 30, 2014
Subsequent Events [Abstract]	'
Subsequent Events [Text Block]	'
	Note 15. Subsequent Events
	Under ASC 852, Reorganizations, fresh-start accounting is required upon emergence from Chapter 11 if (i) the value of the assets of the emerging entity immediately before the date of confirmation is less than the total of all post-petition liabilities and allowed claims; and (ii) holders of existing voting shares immediately before confirmation receive less than 50% of the voting shares of the emerging entity.
	The value of the assets of the Company immediately before the date of confirmation is expected to be less than the total of all post-petition liabilities and allowed claims.  Additionally, the holders of the existing voting shares immediately before the Effective Date held less than 50% of the voting shares of the emerging entity.
	On the Effective Date, the company successfully emerged from bankruptcy with its exit financing being in place. The Company will adopt fresh-start accounting as of the Effective Date. Adopting fresh-start accounting results in a new reporting entity with no beginning retained earnings or deficit. The cancellation of all existing shares outstanding on the Effective Date and issuance of new shares of the reorganized entity caused a related change of control of the Company under ASC 852. Fresh-start accounting also requires that the reporting entity allocate the reorganization value to its assets and liabilities in relation to their fair values upon emergence from Chapter 11. The Company is in the process of evaluating the potential impact of the fresh-start accounting on its consolidated financial statements. The Company’s financial advisor performed a valuation of the reorganized Company dated as of July 15, 2014.  According to the valuation, which was included in the Disclosure Statement related to the Plan, the post-confirmation estimated enterprise value of the Company to be in a range between $850 million and $950 million. Given the approximately $225 million of debt projected to be on the balance sheet of the Company under the Exit Financing Facility on the Effective Date, the implied equity value of the Company was estimated at approximately $625 million to $725 million. As further described in Notes 1 and 14 above, on the Effective Date, the Company cancelled its existing equity interests, issued 37,500,000 new shares of common stock to its existing equity holders and lenders under its Credit Agreement, and established a new management incentive program.

Note_1_Basis_of_Presentation_a1

Note 1 - Basis of Presentation and General Information (Tables)	9 Months Ended
	Sep. 30, 2014
Disclosure Text Block [Abstract]	'
Schedule Of Consolidated Revenue From Major Charters [Table Text Block]	'
	% of Consolidated Charter Revenue
		Three Months Ended		Nine Months Ended
		30-Sep-14	30-Sep-13	30-Sep-14	30-Sep-13
	Charterer
	Charterer A	-	16%	11%	14%
	Charterer B	-	-	-	20%
	Charterer C	37%	-	26%	-

Note_4_Accounts_Receivable_Net1

Note 4 - Accounts Receivable, Net (Tables)	9 Months Ended
	Sep. 30, 2014
Receivables [Abstract]	'
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	'
		30-Sep-14			31-Dec-13
	Accounts receivable	$	14,043,988		$	11,197,101
	Less: Allowance for accounts receivable		(1,824,519	)		-
	Accounts receivable, net	$	12,219,469		$	11,197,101

Note_5_Vessels_Tables

Note 5 - Vessels (Tables)	9 Months Ended
	Sep. 30, 2014
Property, Plant and Equipment [Abstract]	'
Schedule Of Vessel And Vessl Improvements [Table Text Block]	'
	Vessels and Vessel Improvements, at December 31, 2013	$	1,639,555,368
	Purchase of Vessel Improvements		149,756
	Depreciation Expense		(55,568,519	)
	Vessels and Vessel Improvements, at September 30, 2014	$	1,584,136,605

Note_6_Investment_Tables

Note 6 - Investment (Tables)	9 Months Ended
	Sep. 30, 2014
Investments Schedule [Abstract]	'
Investment [Table Text Block]	'
		No of KLC	Cost Basis-	Fair Value	Unrealized	Other-than-	Gain /
		Shares	Adjusted		Gain / (Loss) re	Temporary	(Loss) On
					ported in	Loss reported	Sale of
					OCI	in Earnings-	KLC
						YTD	Stock-YTD
	Balance at	38,674	$963,119	$197,509	($765,609)	-	-
	31-Dec-12
	KLC Stock issued	585,983	33,959,454	33,959,454	-	-	-
	KLC Stock sold	-58,128	-2,690,768	-2,690,768	-	-	-
	Other-than-Temporary	-	-18,414,366	-17,648,756	765,609	-18,414,366	-417,966
	Loss Adjustments
	Balance at	566,529	$13,817,439	$13,817,439	-	($18,414,366)	($417,966)
	31-Dec-13
	Fair Value	-	-	-442,288	($442,288)	-	-
	Adjustments, net
	Balance at	566,529	$13,817,439	$13,375,151	($442,288)	-	-
	30-Sep-14

Note_7_Liabilities_Subject_to_1

Note 7 - Liabilities Subject to Compromise (Tables)	9 Months Ended
	Sep. 30, 2014
Liabilities Subject to Compromise [Abstract]	'
Schedule of Liabilities Subject to Compromise [Table Text Block]	'
		30-Sep-14
	Term Loan	$	1,129,478,741
	Payment-in-kind loans		62,423,569
	Interest payable		15,102,925
	Total	$	1,207,005,235

Note_8_Debt_Tables

Note 8 - Debt (Tables)	9 Months Ended
	Sep. 30, 2014
Disclosure Text Block [Abstract]	'
Schedule of Debt [Table Text Block]	'
		September 30,		December 31,
		2014		2013
	Term Loans	$	1,129,478,741	$	1,129,478,741
	Payment-in-kind loans		62,423,569		44,565,437
	Debtor-In-Possession Loans		25,000,000		-
	Total current debt	$	1,216,902,310	$	1,174,044,178
Schedule Of Interest Expense Excluding Capitalized Interest [Table Text Block]	'
		Three Months Ended				Nine Months Ended
		30-Sep-14		30-Sep-13		30-Sep-14		30-Sep-13
	Term Loans Interest	$	7,380,769	$	18,623,406	$	43,299,761	$	55,686,643
	Amortization of Deferred Financing Costs		4,042,989		2,106,220		16,278,544		6,271,128
	Debtor-In-Possession Loan Interest		311,458		-		311,458		-
	Amortization of DIP Deferred Financing Costs		576,923		-		576,923		-
	Total Interest Expense	$	12,312,139	$	20,729,626	$	60,466,686	$	61,957,771

Note_9_Derivative_Instruments_1

Note 9 - Derivative Instruments and Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2014

Disclosure Text Block [Abstract]

'

Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) [Table Text Block]

'

Effective Portion of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss)

Three Months Ended

Nine Months Ended

Location

September 30,

September 30,

September 30,

September 30,

of Gain (Loss)

2014

2013

2014

2013

Recognized

Derivatives designated as hedging instruments

Interest rate swaps

Interest expense

—

$

(657,812

)

—

$

(2,302,273

)

Fair Value, Assets Measured on Recurring Basis [Table Text Block]

'

30-Sep-14

31-Dec-13

Level 1

Level 2

Level 3

Level 1

Level 2

Level 3

Assets:

Investment

$

13,375,151

—

—

$

13,817,439

—

—

Note_10_Reorganization_ItemsNe1

Note 10 - Reorganization Items-Net (Tables)	9 Months Ended
	Sep. 30, 2014
Reorganizations [Abstract]	'
Reorganization Amounts Incurred and Recoverable [Table Text Block]	'
		For the		For the
		Three Months Ended		Nine Months Ended
		30-Sep-14		30-Sep-14
	Professional fees incurred	$	7,311,240	$	15,483,981
	Total	$	7,311,240	$	15,483,981

Note_13_Loss_Per_Common_Share_

Note 13 - Loss Per Common Share (Tables)	9 Months Ended
	Sep. 30, 2014
Earnings Per Share [Abstract]	'
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	'
		Three Months Ended						Nine Months Ended
		September 30,			September 30,			September 30,			September 30,
		2014			2013			2014			2013
	Net loss	$	(45,857,654	)	$	(37,630,051	)	$	(113,107,599	)	$	(39,294,848	)
	Weighted Average Shares – Basic		19,172,717			16,986,395			17,785,290			16,973,813
	Dilutive effect of stock options and restricted stock units		-			-			-			-
	Weighted Average Shares - Diluted		19,172,717			16,986,395			17,785,290			16,973,813
	Basic Earnings (Loss) Per Share	$	(2.39	)	$	(2.22	)	$	(6.36	)	$	(2.32	)
	Diluted Earnings (Loss) Per Share	$	(2.39	)	$	(2.22	)	$	(6.36	)	$	(2.32	)

Note_14_Stock_Incentive_Plans_

Note 14 - Stock Incentive Plans (Tables)	9 Months Ended
	Sep. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Schedule of Non-Cash Compensation Expenses [Table Text Block]	'
		Three Months Ended				Nine Months Ended
		30-Sep-14		30-Sep-13		30-Sep-14		30-Sep-13
	Stock Option Plans	$	135,039	$	154,851	$	370,371	$	833,650
	Restricted Stock Grants		61,940		407,753		394,968		3,494,528
	Total Non-cash compensation expense	$	196,979	$	562,604	$	765,339	$	4,328,178

Note_1_Basis_of_Presentation_a2

Note 1 - Basis of Presentation and General Information (Details) (USD $)

9 Months Ended

0 Months Ended

0 Months Ended

0 Months Ended

0 Months Ended

0 Months Ended

0 Months Ended

3 Months Ended

9 Months Ended

Sep. 30, 2014

Oct. 15, 2014

Oct. 15, 2014

Oct. 15, 2014

Oct. 15, 2014

Jul. 02, 2014

Jul. 02, 2014

Oct. 15, 2014

Oct. 15, 2014

Sep. 30, 2014

Sep. 30, 2014

Oct. 15, 2014

Oct. 15, 2014

Oct. 09, 2014

Oct. 09, 2014

Oct. 09, 2014

Oct. 09, 2014

Oct. 09, 2014

Oct. 09, 2014

Oct. 15, 2014

Dec. 31, 2013

Mar. 31, 2013

Sep. 30, 2014

New Eagle Equity Warrants [Member]

New Eagle Equity Warrants [Member]

New Eagle Equity Warrants [Member]

New Eagle Equity Warrants [Member]

Trigger Price B Warrants [Member]

Trigger Price C Warrants [Member]

Employee Stock Option [Member]

Employee Stock Option [Member]

Supramax Vessels [Member]

Handymax Vessels [Member]

Subsequent Event [Member]

Subsequent Event [Member]

Subsequent Event [Member]

Subsequent Event [Member]

Subsequent Event [Member]

Subsequent Event [Member]

Subsequent Event [Member]

Subsequent Event [Member]

Subsequent Event [Member]

Korea Line Corporation [Member]

Korea Line Corporation [Member]

Korea Line Corporation [Member]

Subsequent Event [Member]

Subsequent Event [Member]

Subsequent Event [Member]

Bankruptcy, Exchanged to Common Stockholders [Member]

Annually [Member]

Subsequent Event [Member]

Bankruptcy, Exchanged to Common Stockholders [Member]

Bankruptcy, Exchanged to Lenders [Member]

Restructuring Support Agreement and Plan of Reorganization [Member]

Restructuring Support Agreement and Plan of Reorganization [Member]

Restructuring Support Agreement and Plan of Reorganization [Member]

Restructuring Support Agreement and Plan of Reorganization [Member]

Restructuring Support Agreement and Plan of Reorganization [Member]

Restructuring Support Agreement and Plan of Reorganization [Member]

Restructuring Support Agreement and Plan of Reorganization [Member]

Bankruptcy, Exchanged to Common Stockholders [Member]

Restructuring Support Agreement and Plan of Reorganization [Member]

Subsequent Event [Member]

Restructuring Support Agreement and Plan of Reorganization [Member]

Restructuring Support Agreement and Plan of Reorganization [Member]

Restructuring Support Agreement and Plan of Reorganization [Member]

Line of Credit [Member]

Line of Credit [Member]

Line of Credit [Member]

Line of Credit [Member]

Revolving Credit Facility [Member]

Revolving Credit Facility [Member]

Management Equity Incentive Plan [Member]

Restructuring Support Agreement and Plan of Reorganization [Member]

Restructuring Support Agreement and Plan of Reorganization [Member]

Management Equity Incentive Plan [Member]

London Interbank Offered Rate (LIBOR) [Member]

London Interbank Offered Rate (LIBOR) [Member]

Management Equity Incentive Plan [Member]

Minimum [Member]

Maximum [Member]

Note 1 - Basis of Presentation and General Information (Details) [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Vessels In Operation

45

'

'

'

'

'

'

'

'

43

2

'

'

'

'

'

'

'

'

'

'

'

'

Dead Weight Tonnage Of Operating Fleet

2,451,259

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Average Age In Years Of Operating Fleet

'7 years 146 days

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Line of Credit Facility, Maximum Borrowing Capacity (in Dollars)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$275,000,000

'

$50,000,000

'

'

'

'

Restructuring Covenant, Percentage of Equity Exchanged

'

'

'

'

'

'

'

'

'

'

'

0.50%

99.50%

'

'

'

'

'

'

'

'

'

'

Class of Warrant or Right, Outstanding (in Shares)

'

3,040,540

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Warrant, Term

'

'

'7 years

'

'7 years

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in Shares)

'

1

'

1

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Share-based Compensation Arrangement by Share-based Payment Award, Percentage of Outstanding Stock Maximum

'

'

'

'

'

'

'

'

5.50%

'

'

'

'

'

'

'

'

'

'

2.00%

'

'

'

Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period

'

'

'

'

'

'

'

'

'4 years

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage

'

'

'

'

'

'

'

25.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt Instrument, Basis Spread on Variable Rate

'

'

'

'

'

'

'

'

'

'

'

'

'

3.50%

4.00%

'

'

'

'

'

'

'

'

Line of Credit Facility, Commitment Fee Percentage

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

40.00%

'

40.00%

'

'

'

'

'

Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per share)

'

'

'

$27.82

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Other than Temporary Impairment Losses, Investments (in Dollars)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$8,200,000

$3,000,000

$0

Class of Warrant or Right, Common Stock Threshold Price (in Dollars per share)

'

'

'

'

'

$10

$12

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Note_1_Basis_of_Presentation_a3

Note 1 - Basis of Presentation and General Information (Details) - Consolidated Revenue from Major Charters	3 Months Ended	9 Months Ended			3 Months Ended	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2014
	Charterer A [Member]	Charterer A [Member]	Charterer A [Member]	Charterer B [Member]	Charterer C [Member]	Charterer C [Member]
Charterer	'	'	'	'	'	'
Charterer	16.00%	11.00%	14.00%	20.00%	37.00%	26.00%

Note_3_Cash_Flow_Information_D

Note 3 - Cash Flow Information (Details) (USD $)	9 Months Ended
	Sep. 30, 2014
Note 3 - Cash Flow Information (Details) [Line Items]	'
Restructuring Costs	$15,483,981
Payments for Restructuring	12,376,774
Accounts Payable and Accrued Liabilities [Member]	'
Note 3 - Cash Flow Information (Details) [Line Items]	'
Restructuring Reserve, Current	$3,107,207

Note_4_Accounts_Receivable_Net2

Note 4 - Accounts Receivable, Net (Details) - Accounts Receivable (USD $)	Sep. 30, 2014	Dec. 31, 2013
Accounts Receivable [Abstract]	'	'
Accounts receivable	$14,043,988	$11,197,101
Less: Allowance for accounts receivable	-1,824,519	'
Accounts receivable, net	$12,219,469	$11,197,101

Note_5_Vessels_Details

Note 5 - Vessels (Details)	Sep. 30, 2014
Property, Plant and Equipment [Abstract]	'
Number Of Vessels	45

Note_5_Vessels_Details_Vessels

Note 5 - Vessels (Details) - Vessels (USD $)	9 Months Ended
	Sep. 30, 2014
Vessels [Abstract]	'
Vessels and Vessel Improvements	$1,639,555,368
Purchase of Vessel Improvements	149,756
Depreciation Expense	-55,568,519
Vessels and Vessel Improvements	$1,584,136,605

Note_6_Investment_Details

Note 6 - Investment (Details) (USD $)	9 Months Ended	3 Months Ended		9 Months Ended	12 Months Ended	0 Months Ended	3 Months Ended				6 Months Ended
	Sep. 30, 2013	Dec. 31, 2013	Mar. 31, 2013	Sep. 30, 2014	Dec. 31, 2013	9-May-13	Sep. 30, 2014	Mar. 31, 2014	Sep. 30, 2013	Mar. 31, 2013	Jun. 30, 2014
		Korea Line Corporation [Member]	Korea Line Corporation [Member]	Korea Line Corporation [Member]	Korea Line Corporation [Member]	Korea Line Corporation [Member]	Korea Line Corporation [Member]	Korea Line Corporation [Member]	Korea Line Corporation [Member]	Korea Line Corporation [Member]	Korea Line Corporation [Member]
Note 6 - Investment (Details) [Line Items]	'	'	'	'	'	'	'	'	'	'	'
Payments for Settlement of Termination Agreement	'	'	'	'	'	'	'	'	'	$10,300,000	'
Bunker Liabilities Released	'	'	'	'	'	3,500,000	'	'	'	'	'
Deferred Revenue, Period Increase (Decrease)	'	'	'	'	'	'	'	'	'	-3,600,000	'
Unamortized Fair Value of Charters, Balance Released	'	'	'	'	'	'	'	'	'	10,100,000	'
(in Shares)	'	'	'	'	585,983	538,751	'	'	'	5,900,000	'
Accounts and Notes Receivable, Net	'	'	'	'	'	'	'	'	'	2,700,000	'
Contract Termination, Consideration Transferred	'	'	'	'	'	'	'	'	'	36,100,000	'
Termination Revenue	'	'	'	'	'	'	'	'	'	32,800,000	'
Gain (Loss) on Contract Termination	29,033,503	'	'	'	'	'	'	'	'	3,300,000	'
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings	'	'	'	'	'	25,600,000	'	'	'	'	'
Other than Temporary Impairment Losses, Investments	'	8,200,000	3,000,000	0	'	'	'	'	7,300,000	'	'
Unrealized Gain (Loss) on Investments	'	'	'	'	'	'	$300,000	($2,100,000)	'	'	$1,400,000

Note_6_Investment_Details_Summ

Note 6 - Investment (Details) - Summary of KLC Capital Stock (USD $)	3 Months Ended		9 Months Ended			12 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Dec. 31, 2013	Dec. 31, 2012
					Korea Line Corporation [Member]	Korea Line Corporation [Member]	Korea Line Corporation [Member]
Note 6 - Investment (Details) - Summary of KLC Capital Stock [Line Items]	'	'	'	'	'	'	'
No of KLC Shares (in Shares)	'	'	'	'	566,529	566,529	38,674
Cost Basis - Adjusted	'	'	'	'	$13,817,439	$13,817,439	$963,119
Fair Value	'	'	'	'	13,375,151	13,817,439	197,509
Unrealized Gain / (Loss) Reported in OCI	256,781	-9,812,255	-442,288	-9,847,473	-442,288	0	-765,609
Other-than-Temporary Loss reported in Earnings - YTD	'	'	'	'	0	-18,414,366	'
Gain / (Loss) On Sale of KLC Stock - YTD	'	'	'	'	'	-417,966	'
Fair Value Adjustments, net	'	'	'	'	-442,288	'	'
Fair Value Adjustments, net	'	'	'	'	-442,288	'	'
KLC Stock issued (in Shares)	'	'	'	'	'	585,983	'
KLC Stock issued	'	'	'	'	'	33,959,454	'
KLC Stock issued	'	'	'	'	'	33,959,454	'
KLC Stock sold (in Shares)	'	'	'	'	'	-58,128	'
KLC Stock sold	'	'	'	'	'	-2,690,768	'
KLC Stock sold	'	'	'	'	'	-2,690,768	'
Other-than-Temporary Loss Adjustments	'	'	'	'	0	-18,414,366	'
Other-than-Temporary Loss Adjustments	'	'	'	'	'	-17,648,756	'
Other-than-Temporary Loss Adjustments	'	'	'	'	'	765,609	'
Other-than-Temporary Loss Adjustments	'	'	'	'	'	($417,966)	'

Note_7_Liabilities_Subject_to_2

Note 7 - Liabilities Subject to Compromise (Details) - Liabilities Subject to Compromise (USD $)	Sep. 30, 2014
Liabilities Subject to Compromise [Abstract]	'
Term Loan	$1,129,478,741
Payment-in-kind loans	62,423,569
Interest payable	15,102,925
Total	$1,207,005,235

Note_8_Debt_Details

Note 8 - Debt (Details) (USD $)

0 Months Ended

2 Months Ended

9 Months Ended

1 Months Ended

0 Months Ended

0 Months Ended

0 Months Ended

0 Months Ended

0 Months Ended

1 Months Ended

25 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

1 Months Ended

3 Months Ended

0 Months Ended

Aug. 08, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2013

Aug. 08, 2014

Dec. 31, 2013

Jun. 20, 2012

Jun. 20, 2012

Jun. 20, 2012

Jul. 02, 2014

Jul. 02, 2014

Oct. 09, 2014

Oct. 09, 2014

Oct. 09, 2014

Oct. 09, 2014

Oct. 09, 2014

Oct. 09, 2014

Sep. 30, 2014

Aug. 08, 2014

Aug. 08, 2014

Jun. 20, 2012

Jun. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Jun. 20, 2012

Sep. 30, 2014

Sep. 30, 2013

Dec. 31, 2013

Mar. 31, 2014

Jun. 30, 2014

Dec. 31, 2015

Sep. 30, 2014

Dec. 31, 2014

Mar. 31, 2015

Jun. 30, 2015

Sep. 30, 2015

Dec. 31, 2015

Mar. 31, 2017

Jun. 30, 2013

Sep. 30, 2014

Jun. 30, 2014

Jun. 20, 2012

Jun. 20, 2012

Mar. 31, 2017

Aug. 08, 2014

Pik Loans To Cumulative Convertible Preferred Stock [Member]

Warrant [Member]

Warrant [Member]

Warrant [Member]

Warrant [Member]

Subsequent Event [Member]

Subsequent Event [Member]

Subsequent Event [Member]

Subsequent Event [Member]

Subsequent Event [Member]

Subsequent Event [Member]

Default Interest Rate on Unpaid Interest [Member]

After Entry of the Interim Order [Member]

Extension Option Exercised [Member]

Loans Payable [Member]

Loans Payable [Member]

Line Of Credit Converted To Term Loan [Member]

Line Of Credit Converted To Term Loan [Member]

Line Of Credit Converted To Term Loan [Member]

Line Of Credit Converted To Term Loan [Member]

Line Of Credit Converted To Term Loan [Member]

Line Of Credit Converted To Term Loan [Member]

Commencing In Quarterly Period Ending September 30, 2013 [Member]

Commencing In Quarterly Period Ending December 31 2013 [Member]

Commencing In Quarterly Period Ending March 31 2014 [Member]

Commencing In Quarterly Period Ending June 30 2014 [Member]

Commencing In Quarterly Period Ending September 30, 2014 [Member]

Commencing In Quarterly Period Ending September 30, 2014 [Member]

Commencing In Quarterly Period Ending December 31 2014 [Member]

Commencing In Quarterly Period Ending March 31 2015 [Member]

Commencing In Quarterly Period Ending June 30 2015 [Member]

Commencing In Quarterly Period Ending September 30 2015 [Member]

Commencing In Quarterly Period Ending December 31 2015 [Member]

Declining In Intervals Till Quarterly Period Ending March 31, 2017 Upon Extension Of Termination Date [Member]

Commencing In Quarterly Period Ending June 30, 2013 [Member]

Fourth Amended and Restated Credit Agreement [Member]

Fourth Amended and Restated Credit Agreement [Member]

Fourth Amended and Restated Credit Agreement [Member]

Fourth Amended and Restated Credit Agreement [Member]

Fourth Amended and Restated Credit Agreement [Member]

London Interbank Offered Rate (LIBOR) [Member]

Fourth Amended and Restated Credit Agreement [Member]

Fourth Amended and Restated Credit Agreement [Member]

Fourth Amended and Restated Credit Agreement [Member]

Warrant Amendment [Member]

Warrant Amendment [Member]

Restructuring Support Agreement and Plan of Reorganization [Member]

Restructuring Support Agreement and Plan of Reorganization [Member]

Restructuring Support Agreement and Plan of Reorganization [Member]

Restructuring Support Agreement and Plan of Reorganization [Member]

Restructuring Support Agreement and Plan of Reorganization [Member]

Restructuring Support Agreement and Plan of Reorganization [Member]

Line Of Credit Converted To Term Loan [Member]

London Interbank Offered Rate (LIBOR) [Member]

Fourth Amended and Restated Credit Agreement [Member]

Fourth Amended and Restated Credit Agreement [Member]

Minimum [Member]

Maximum [Member]

Fourth Amended and Restated Credit Agreement [Member]

Fourth Amended and Restated Credit Agreement [Member]

Fourth Amended and Restated Credit Agreement [Member]

Fourth Amended and Restated Credit Agreement [Member]

Fourth Amended and Restated Credit Agreement [Member]

Fourth Amended and Restated Credit Agreement [Member]

Fourth Amended and Restated Credit Agreement [Member]

Fourth Amended and Restated Credit Agreement [Member]

Fourth Amended and Restated Credit Agreement [Member]

Fourth Amended and Restated Credit Agreement [Member]

Fourth Amended and Restated Credit Agreement [Member]

Fourth Amended and Restated Credit Agreement [Member]

Fourth Amended and Restated Credit Agreement [Member]

Fourth Amended and Restated Credit Agreement [Member]

Fourth Amended and Restated Credit Agreement [Member]

Fourth Amended and Restated Credit Agreement [Member]

Fourth Amended and Restated Credit Agreement [Member]

Liquidity Facility [Member]

Liquidity Facility [Member]

Next Third [Member]

Last Third [Member]

Minimum [Member]

Maximum [Member]

Line of Credit [Member]

Line of Credit [Member]

Revolving Credit Facility [Member]

Revolving Credit Facility [Member]

Fourth Amended and Restated Credit Agreement [Member]

Fourth Amended and Restated Credit Agreement [Member]

Fourth Amended and Restated Credit Agreement [Member]

London Interbank Offered Rate (LIBOR) [Member]

London Interbank Offered Rate (LIBOR) [Member]

Line of Credit [Member]

Line of Credit [Member]

London Interbank Offered Rate (LIBOR) [Member]

London Interbank Offered Rate (LIBOR) [Member]

Note 8 - Debt (Details) [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt Conversion, Converted Instrument, Amount (in Dollars)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$1,129,478,741

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Collateral Coverage Ratio To Be Maintained On Term Loan Maturity Date

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'80%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt Instrument Extended Date Period

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'18 months

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Cash Balance Resulting In Mandatory Repayments Of Term Loan Principal (in Dollars)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

20,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt Instrument Initial Cash Margin

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

3.50%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt Instrument Initial Paid In Kind Margin

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2.50%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Line of Credit Facility, Maximum Borrowing Capacity (in Dollars)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

275,000,000

'

50,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

20,000,000

'

'

'

'

Par Value Per Share For Conversion Of Pik Loans Into Shares Of Cumulative Convertible Preferred Stock (in Dollars per share)

'

'

'

'

'

'

$10

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Long-term Line of Credit (in Dollars)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

0

'

'

'

'

'

Long-term Debt, Excluding Current Maturities (in Dollars)

'

1,129,478,741

1,129,478,741

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Payment In Kind Loan (in Dollars)

'

62,423,569

62,423,569

'

'

44,565,437

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Maximum Leverage Ratio Of Term Loan Indebtedness To Ebitda To Be Maintained

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'13.9

'12.3

'10.6

'9.2

'

'8.5

'8.1

'7.8

'7.6

'7.5

'7.3

'6.2

'

'

'

'

'

'

'

Minimum Interest Coverage Ratio Of Term Loan Indebtedness To Ebitda To Be Maintained

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

140.00%

160.00%

180.00%

200.00%

'

210.00%

220.00%

220.00%

220.00%

220.00%

220.00%

230.00%

130.00%

'

'

'

'

'

'

Free Cash To Be Maintained With Agent Per Vessel (in Dollars)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

500,000

'

Maximum Collateral Coverage Ratio Of Term Loan Indebtedness To Ebitda To Be Maintained

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

80.00%

100.00%

'

'

'

'

'

70.00%

'

'

'

'

'

'

'

Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted (in Shares)

'

'

'

'

'

'

'

3,148,584

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per share)

'

'

'

'

'

'

'

'

$0.01

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$10

$12

'

'

Common Stock, Par or Stated Value Per Share (in Dollars per share)

'

$0.01

$0.01

'

'

$0.01

'

'

$0.01

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value (in Dollars per share)

'

'

'

'

'

'

'

'

$7,200,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Exercise Price (in Dollars per share)

'

'

'

'

'

'

'

'

$2.98

'

$2.88

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate

'

'

'

'

'

'

'

1.64%

'

1.33%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate

'

'

'

'

'

'

'

79.30%

'

83.30%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term

'

'

'

'

'

'

'

'10 years

'

'7 years 328 days

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate

'

'

'

'

'

'

'

0.00%

'

0.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt Instrument, Interest Rate, Stated Percentage

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debtor-in-Possession Financing, Interest Rate on Borrowings Outstanding

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

6.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt Instrument, Basis Spread on Variable Rate

'

'

'

'

'

'

'

'

'

'

'

3.50%

4.00%

'

'

'

'

'

'

'

'

'

'

'

3.50%

3.50%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt Instrument, Interest Rate During Period

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

3.73%

8.23%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt, Weighted Average Interest Rate

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2.94%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Interest Not Accrued During Bankruptcy Proceedings (in Dollars)

'

14,844,413

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Interest Paid Excluding Payment In Kind (in Dollars)

'

'

10,714,117

36,124,215

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debtor-in-Possession Financing, Date Arrangement Approved by Bankruptcy Court

8-Aug-14

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debtor-in-Possession Financing, Extension Option

'3 months

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debtor-in-Possession Financing, Extension Fee Percentage

0.75%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debtor-in-Possession Financing, Term

'9 months

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debtor-in-Possession Financing, Amount Arranged (in Dollars)

'

'

'

'

50,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

25,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debtor-in-Possession Financing, Spread on Variable Rate

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

7.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

5.00%

Debtor-in-Possession Financing, Minimum Liquidity Covenant (in Dollars)

22,500,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Line of Credit Facility, Commitment Fee Percentage

'

'

'

'

'

'

'

'

'

'

'

'

'

40.00%

'

40.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt Instrument, Covenant, Percentage of Aggregate Principal, Minimum Threshold

'

'

'

'

'

'

'

'

'

'

'

'

'

'

150.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt Instrument, Covenant, Percentage of Aggregate Principal, Maximum Threshold

'

'

'

'

'

'

'

'

'

'

'

'

'

'

165.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt Instrument, Covenant, Maximum Indebtedness

'

'

'

'

'

'

'

'

'

'

'

'

'

'

0.65

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt Instrument, Covenant, EBITDA to Interest, Minimum Multiple

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2.5

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt Instrument, Covenant, Minimum Liquidity, Minimum Threshold (in Dollars)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

20,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt Instrument, Covenant, Minimum Liquidity, Minimum Threshold per Vessel (in Dollars per Item)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

500,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt Instrument, Periodic Payment, Principal, Number of Quarterly Installments

'

'

'

'

'

'

'

'

'

'

'

'

'

'

20

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt Instrument, Periodic Payment, Principal (in Dollars)

'

'

'

'

'

'

'

'

'

'

'

'

'

$3,906,250

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Note_8_Debt_Details_Summary_of

Note 8 - Debt (Details) - Summary of Debt (USD $)	Sep. 30, 2014	Dec. 31, 2013
Summary of Debt [Abstract]	'	'
Term Loans	$1,129,478,741	$1,129,478,741
Payment-in-kind loans	62,423,569	44,565,437
Debtor-In-Possession Loans	25,000,000	'
Total current debt	$1,216,902,310	$1,174,044,178

Note_8_Debt_Details_Interest_E

Note 8 - Debt (Details) - Interest Expense (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Interest Expense [Abstract]	'	'	'	'
Term Loans Interest	$7,380,769	$18,623,406	$43,299,761	$55,686,643
Amortization of Deferred Financing Costs	4,042,989	2,106,220	16,278,544	6,271,128
Debtor-In-Possession Loan Interest	311,458	'	311,458	'
Amortization of DIP Deferred Financing Costs	576,923	'	576,923	'
Total Interest Expense	$12,312,139	$20,729,626	$60,466,686	$61,957,771

Note_9_Derivative_Instruments_2

Note 9 - Derivative Instruments and Fair Value Measurements (Details) - Effect of Derivative Instruments on Statement of Operations (Interest Rate Swap [Member], Designated as Hedging Instrument [Member], USD $)	3 Months Ended	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2013
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member]	'	'
Derivatives designated as hedging instruments	'	'
Interest rate swaps	($657,812)	($2,302,273)

Note_9_Derivative_Instruments_3

Note 9 - Derivative Instruments and Fair Value Measurements (Details) - Summary of Assets and Liabilities Measured at Fair Value (Fair Value, Inputs, Level 1 [Member], USD $)	Sep. 30, 2014	Dec. 31, 2013
Fair Value, Inputs, Level 1 [Member]	'	'
Note 9 - Derivative Instruments and Fair Value Measurements (Details) - Summary of Assets and Liabilities Measured at Fair Value [Line Items]	'	'
Investment	$13,375,151	$13,817,439

Note_10_Reorganization_ItemsNe2

Note 10 - Reorganization Items-Net (Details) (USD $)	3 Months Ended	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2014
Reorganizations [Abstract]	'	'
Payments for Reorganization Items	$5,065,530	$12,376,774

Note_10_Reorganization_ItemsNe3

Note 10 - Reorganization Items-Net (Details) - Reorganization Amounts Incurred and Recovered (USD $)	3 Months Ended	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2014
Reorganization Amounts Incurred and Recovered [Abstract]	'	'
Professional fees incurred	$7,311,240	$15,483,981
Total	$7,311,240	$15,483,981

Note_11_Commitments_and_Contin1

Note 11 - Commitments and Contingencies (Details) (USD $)	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Jul. 28, 2011	Jul. 28, 2011
			First To Seventh Year [Member]	Eight Year [Member]
Note 11 - Commitments and Contingencies (Details) [Line Items]	'	'	'	'
Monthly Technical Management Fees	$10,708	$10,315	'	'
Hire Rate Payable	'	'	$13,500	$13,750

Note_12_Related_Party_Transact1

Note 12 - Related Party Transactions (Details) (USD $)	9 Months Ended		12 Months Ended			9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2010	Dec. 31, 2010	Dec. 31, 2010	Sep. 30, 2014
			Delphin Shipping Llc [Member]	Delphin Shipping Llc [Member]	Delphin Shipping Llc [Member]	Delphin Shipping Llc [Member]
			Received Monthly [Member]	Received Monthly [Member]	Received Monthly [Member]
			First Ten Vessels [Member]	Second Ten Vessels [Member]	Third Ten Vessels [Member]
Note 12 - Related Party Transactions (Details) [Line Items]	'	'	'	'	'	'
Management Fees Revenue	$1,635,066	$1,635,066	$15,834	$11,667	$8,750	'
Advance Balance Received	'	'	'	'	'	863,015
Reimbursement Of Expenses	181,595	224,274	'	'	'	'
Due from Related Parties	'	'	'	'	'	$1,695
Management Fee Revenue Per Vessel (in Dollars per Item)	'	'	'	'	'	700
Commercial Management Fee, Percent of Charter Hire	'	'	'	'	'	1.25%
Management Fee, Term	'	'	'	'	'	'1 year
Management Fee, Renewal Term	'	'	'	'	'	'1 year

Note_13_Loss_Per_Common_Share_1

Note 13 - Loss Per Common Share (Details) (USD $)	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Warrant [Member]	'	'
Note 13 - Loss Per Common Share (Details) [Line Items]	'	'
Weighted Average Underlying Warrant Shares Issuable	615,997	'
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per share)	0.01	'
Restricted Stock [Member]	'	'
Note 13 - Loss Per Common Share (Details) [Line Items]	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	123,667	303,664
Equity Option [Member]	'	'
Note 13 - Loss Per Common Share (Details) [Line Items]	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	1,727,667	1,908,371

Note_13_Loss_Per_Common_Share_2

Note 13 - Loss Per Common Share (Details) - Earnings Per Share, Basic and Diluted (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Earnings Per Share, Basic and Diluted [Abstract]	'	'	'	'
Net loss	($45,857,654)	($37,630,051)	($113,107,599)	($39,294,848)
Weighted Average Shares b Basic	19,172,717	16,986,395	17,785,290	16,973,813
Weighted Average Shares - Diluted	19,172,717	16,986,395	17,785,290	16,973,813
Basic Earnings (Loss) Per Share	($2.39)	($2.22)	($6.36)	($2.32)
Diluted Earnings (Loss) Per Share	($2.39)	($2.22)	($6.36)	($2.32)

Note_14_Stock_Incentive_Plans_1

Note 14 - Stock Incentive Plans (Details) (USD $)

0 Months Ended

9 Months Ended

1 Months Ended

9 Months Ended

9 Months Ended

9 Months Ended

12 Months Ended

Oct. 15, 2014

Oct. 15, 2014

Oct. 15, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

31-May-12

Jun. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Jun. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Dec. 31, 2011

22-May-12

Common Stock [Member]

Exercise Price Range 1 [Member]

Exercise Price Range 2 [Member]

Restricted Stock Units (RSUs) [Member]

Restricted Stock Units (RSUs) [Member]

Restricted Stock Units (RSUs) [Member]

Restricted Stock Units (RSUs) [Member]

Restricted Stock Units (RSUs) [Member]

Reverse Stock Split [Member]

Minimum [Member]

Minimum [Member]

Minimum [Member]

Maximum [Member]

Maximum [Member]

Maximum [Member]

Non Employee Directors [Member]

Non Employee Directors [Member]

Management [Member]

Management [Member]

Management [Member]

Equity Incentive Plan [Member]

Equity Incentive Plan [Member]

Subsequent Event [Member]

Subsequent Event [Member]

Subsequent Event [Member]

Minimum [Member]

Maximum [Member]

Equity Incentive Plan [Member]

Equity Incentive Plan [Member]

Non Employee Directors [Member]

Non Employee Directors [Member]

Management [Member]

Non Employee Directors [Member]

Non Employee Directors [Member]

Management [Member]

Equity Incentive Plan [Member]

Equity Incentive Plan [Member]

Equity Incentive Plan [Member]

Equity Incentive Plan [Member]

Management 2011 Plan [Member]

Chief Executive Officer [Member]

Chief Executive Officer [Member]

Chief Executive Officer [Member]

Equity Incentive Plan [Member]

Equity Incentive Plan [Member]

Equity Incentive Plan [Member]

Equity Incentive Plan [Member]

Equity Incentive Plan [Member]

Equity Incentive Plan [Member]

Management Incentive Plan [Member]

Management Incentive Plan [Member]

Management Incentive Plan [Member]

Note 14 - Stock Incentive Plans (Details) [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

5,900,000

1,050,000

Stockholders' Equity Note, Stock Split, Conversion Ratio

'

'

'

'

'

'

'

'

4

'

'

'

'

'

'

'

'

'

'

'

'

'

Share-based Compensation Arrangement by Share-based Payment Award, Description

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'10%

'

Restricted Stock Units Outstanding

'

'

'

'

'

'

'

123,667

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period

'

'

'

'3 years

'5 years

'

'

'

'

'

'

'

'

'

'

'

'

'3 years

'

'4 years

'

'

Allocated Share-based Compensation Expense (in Dollars)

'

'

'

'

'

$394,968

$3,494,528

'

'

'

'

'

'

'

'

'

'

$370,371

$833,650

'

'

'

Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1,727,667

1,727,667

'

'

'

'

'

Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price (in Dollars per share)

'

'

'

'

'

'

'

'

'

$3.34

$3.34

'

$87.52

$87.52

'

'

'

'

'

'

'

'

Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term

'

'

'

'

'

'

'

'

'

'

'

'5 years

'

'

'10 years

'

'

'

'

'

'

'

Stock Issued During Period, Shares, Share-based Compensation, Gross

540,540

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross

'

675,676

810,811

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in Dollars per share)

'

$18

$25.25

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Note_14_Stock_Incentive_Plans_2

Note 14 - Stock Incentive Plans (Details) - The Non-Cash Compensation Expense (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
The Non-Cash Compensation Expense [Abstract]	'	'	'	'
Stock Option Plans	$135,039	$154,851	$370,371	$833,650
Restricted Stock Grants	61,940	407,753	394,968	3,494,528
Total Non-cash compensation expense	$196,979	$562,604	$765,339	$4,328,178

Note_15_Subsequent_Events_Deta

Note 15 - Subsequent Events (Details) (Subsequent Event [Member], USD $)	0 Months Ended
In Millions, except Share data, unless otherwise specified	Oct. 15, 2014
Note 15 - Subsequent Events (Details) [Line Items]	'
Postconfirmation, Liabilities	$225
Stock Issued During Period, Shares, New Issues (in Shares)	37,500,000
Minimum [Member]	'
Note 15 - Subsequent Events (Details) [Line Items]	'
Postconfirmation, Assets	850
Postconfirmation, Stockholders' Equity	625
Maximum [Member]	'
Note 15 - Subsequent Events (Details) [Line Items]	'
Postconfirmation, Assets	950
Postconfirmation, Stockholders' Equity	$725