Euroseas (ESEA) 20-F 28 Apr 21 2020 FY Annual report (foreign) Financial data

Document And Entity Information

Document And Entity Information	12 Months Ended
	Dec. 31, 2020shares
Document Information [Line Items]
Entity Registrant Name	EUROSEAS LTD.
Entity Central Index Key	0001341170
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Emerging Growth Company	false
Entity Interactive Data Current	Yes
Entity Common Stock, Shares Outstanding (in shares)	6,708,946
Entity Shell Company	false
Document Type	20-F
Document Period End Date	Dec. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Amendment Flag	false
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false

Unaudited Condensed Consolidate

Unaudited Condensed Consolidated Balance Sheets - USD ($)		Dec. 31, 2020	Dec. 31, 2019
Current assets
Cash and cash equivalents		$ 3,559,399	$ 985,418
Restricted cash		345,010	610,376
Trade accounts receivable, net		2,013,023	715,097
Other receivables		1,866,624	1,570,506
Inventories		1,662,422	1,889,164
Prepaid expenses		244,315	526,531
Total current assets		9,690,793	6,297,092
Long-term assets:
Vessels, net		98,458,447	116,230,333
Restricted cash		2,433,768	4,334,267
Total assets		110,583,008	126,861,692
Current liabilities
Long-term bank loans, current portion		20,645,320	12,295,320
Related party loan, current		2,500,000	5,000,000
Trade accounts payable		2,854,377	3,899,967
Accrued expenses		1,300,420	1,725,321
Accrued preferred dividends		168,676	161,315
Deferred revenues		949,364	973,774
Due to related company		24,072	795,562
Derivative		203,553
Total current liabilities		28,645,782	24,851,259
Long-term liabilities
Long-term bank loans, net of current portion		46,220,028	72,187,785
Derivative		362,195
Fair value of below market time charters acquired			1,714,370
Total long-term liabilities		46,582,223	73,902,155
Total liabilities		75,228,005	98,753,414
Commitments and contingencies
Mezzanine Equity
Preferred shares (par value $0.01, 20,000,000 shares authorized, 8,000 and 8,365 issued and outstanding, respectively)		8,019,636	7,654,577
Shareholders’ equity
Common stock (par value $0.03, 200,000,000 shares authorized, 5,600,259 and 6,708,946 issued and outstanding)		201,268	168,008
Additional paid-in capital		257,467,980	253,967,708
Accumulated deficit		(230,333,881)	(233,682,015)
Total shareholders’ equity	[1]	27,335,367	20,453,701
Total liabilities, mezzanine equity and shareholders’ equity		$ 110,583,008	$ 126,861,692
[1]	Adjusted to reflect the 1-for-8 reverse stock split effected at the close of trading on December 18, 2019.

Unaudited Condensed Consolida_2

Unaudited Condensed Consolidated Balance Sheets (Parentheticals) - $ / shares	Dec. 31, 2020	Dec. 31, 2019
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	20,000,000	20,000,000
Preferred stock, shares issued (in shares)	8,365	8,000
Preferred stock, shares outstanding (in shares)	8,365	8,000
Common stock, par value (in dollars per share)	$ 0.03	$ 0.03
Common stock, shares authorized (in shares)	200,000,000	200,000,000
Common stock, shares issued (in shares)	6,708,946	5,600,259
Common stock, shares outstanding (in shares)	6,708,946	5,600,259

Unaudited Condensed Consolida_3

Unaudited Condensed Consolidated Statements of Operations - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Time charter revenue	$ 55,681,124	$ 41,769,278	$ 36,062,202
Voyage charter revenue			206,682
Commissions (including $453,361, $493,341 and $504,892, respectively, to related party)	(2,378,007)	(1,745,599)	(1,844,147)
Net revenue, continuing operations	53,303,117	40,023,679	34,424,737
Operating expenses
Voyage expenses	1,334,259	1,055,408	1,261,088
Vessel operating expenses (including $256,069, $249,081 and $304,515, respectively, to related party)	32,219,689	23,983,282	19,986,170
Dry-docking expenses	536,199	2,714,662	2,774,924
Vessel depreciation	6,605,976	4,178,886	3,305,951
Related party management fees	5,293,199	3,671,335	3,536,094
General and administrative expenses (including $1,561,126, $1,344,250 and $2,000,000, respectively, to related party)	3,041,435	2,444,495	2,565,502
Net gain on sale of vessels	(2,453,736)		(1,340,952)
Other operating income	(2,687,205)
Loss on write-down of vessel held for sale	121,165
Total operating expenses, continuing operations	44,010,981	38,048,068	32,088,777
Operating income, continuing operations	9,292,136	1,975,611	2,335,960
Other income/(expenses)
Interest and other financing costs (including $0, $84,444 and $361,283, respectively, to related party)	(4,125,150)	(3,424,969)	(3,050,768)
Loss on debt extinguishment	(491,571)	(328,291)
Loss on derivatives, net	(587,988)	(2,885)	(44,343)
Foreign exchange gain / (loss)	(63,007)	2,024	13,963
Interest income	17,011	95,839	81,792
Other expenses, net, continuing operations	(5,250,705)	(3,658,282)	(2,999,356)
Net (loss) / income, continuing operations	4,041,431	(1,682,671)	(663,396)
Dividends to Series B preferred shares	(693,297)	(1,271,782)	(1,335,733)
Preferred deemed dividend		(504,577)
Net (loss) / income attributable to common shareholders, continuing operations	3,348,134	(3,459,030)	(1,999,129)
Net income attributable to common shareholders, discontinued operations			554,506
Net (loss) / income attributable to common shareholders	$ 3,348,134	$ (3,459,030)	$ (1,444,623)
Weighted average common shares –outstanding, basic and diluted (in shares)	5,753,917	2,861,928	1,414,775
(Loss) / earnings per share attributable to common shareholders - basic and diluted, continuing operations (in dollars per share)	$ 0.58	$ (1.21)	$ (1.41)
Earnings per share attributable to common shareholders - basic and diluted, discontinued operations (in dollars per share)			0.39
Loss / (earnings) per share attributable to common shareholders - basic and diluted (in dollars per share)	$ 0.58	$ (1.21)	$ (1.02)

Unaudited Condensed Consolida_4

Unaudited Condensed Consolidated Statements of Operations (Parentheticals) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Commissions, related party	$ 504,892	$ 493,341	$ 453,361
Vessel operating expenses, related party	304,515	249,081	256,069
Other general and administrative expenses, related party	2,000,000	1,344,250	1,561,126
Gain on sale of vessel to related party	153,740	0	64,500
Interest and other financing costs, related party	$ 361,283	$ 84,444	$ 0

Unaudited Condensed Consolida_5

Unaudited Condensed Consolidated Statements of Shareholders' Equity - USD ($)		Private Placement [Member]Common Stock [Member]	Private Placement [Member]Additional Paid-in Capital [Member]	Private Placement [Member]Retained Earnings [Member]	Private Placement [Member]	Common Stock [Member]		Additional Paid-in Capital [Member]		Retained Earnings [Member]		Total
Balance (in shares) at Dec. 31, 2017	[1]					1,409,266
Balance at Dec. 31, 2017	[1]					$ 42,279		$ 284,532,548		$ (237,880,629)		$ 46,694,198
Net income (loss)	[1]									(663,396)		(663,396)
Dividends to Series B preferred shares	[1]									(1,335,733)		(1,335,733)
Spin-off of EuroDry Ltd. to stockholders	[1]							(52,520,821)		9,656,773		(42,864,048)
Issuance of shares (in shares)	[1]					139,509
Issuance of shares	[1]					$ 4,185		1,860,925				1,865,110
Issuance of restricted shares for stock incentive award and share-based compensation (in shares)	[1]					15,681
Issuance of restricted shares for stock incentive award and share-based compensation	[1]					$ 470		124,017				124,487
Balance (in shares) at Dec. 31, 2018	[1]					1,564,456
Balance at Dec. 31, 2018	[1]					$ 46,934		233,996,669		(230,222,985)		3,820,618
Net income (loss)	[1]									(1,682,671)		(1,682,671)
Dividends to Series B preferred shares	[1]									(1,271,782)		(1,271,782)
Issuance of shares (in shares)	[1]	1,056,338				144,727
Issuance of shares	[1]	$ 31,690	$ 5,968,310		$ 6,000,000	$ 4,342		771,190				775,532
Issuance of restricted shares for stock incentive award and share-based compensation (in shares)	[1]					15,444
Issuance of restricted shares for stock incentive award and share-based compensation	[1]					$ 463		97,456				97,919
Preferred deemed dividend	[1]									(504,577)		(504,577)
Shares issued in connection with acquisition of vessels (in shares)	[1]					2,816,901
Shares issued in connection with acquisition of vessels	[1]					$ 84,507		13,134,155				13,218,662
Rounding of stock split (in shares)	[1]					2,393
Rounding of stock split	[1]					$ 72		(72)
Balance (in shares) at Dec. 31, 2019	[1]					5,600,259
Balance at Dec. 31, 2019	[1]					$ 168,008		253,967,708		(233,682,015)		20,453,701
Net income (loss)	[1]									4,041,431		4,041,431
Dividends to Series B preferred shares							[1]		[1]	(693,297)	[1]	(693,297)
Issuance of shares (in shares)	[1]					200,000
Issuance of shares	[1]					$ 6,000		490,718				496,718
Issuance of restricted shares for stock incentive award and share-based compensation (in shares)	[1]					45,900
Issuance of restricted shares for stock incentive award and share-based compensation	[1]					$ 1,377		120,254				121,631
Issuance of shares in connection with related party loan converted to equity (in shares)	[1]					702,247
Issuance of shares in connection with related party loan converted to equity	[1]					$ 21,067		2,345,504				2,366,571
Issuance of shares for contingent consideration in connection with acquisition of vessels (Note 18) (in shares)	[1]					161,357
Issuance of shares for contingent consideration in connection with acquisition of vessels (Note 18)	[1]					$ 4,841		543,771				548,612
Shares forfeited (in shares)	[1]					(817)
Shares forfeited	[1]					$ (25)		25
Balance (in shares) at Dec. 31, 2020	[1]					6,708,946
Balance at Dec. 31, 2020	[1]					$ 201,268		$ 257,467,980		$ (230,333,881)		$ 27,335,367
[1]	Adjusted to reflect the 1-for-8 reverse stock split effected at the close of trading on December 18, 2019.

Unaudited Condensed Consolida_6

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)	12 Months Ended			22 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Oct. 16, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities:
Net (loss) / income	$ 4,041,431	$ (1,682,671)	$ (663,396)
Adjustments to reconcile net loss / (income) to net cash (used in) / provided by operating activities:
Vessel depreciation	(6,605,976)	(4,178,886)	(3,305,951)
Gain on hull & machinery claim	(2,687,205)
Loss on write-down of vessel held for sale	121,165
Amortization and write off of deferred charges	288,163	205,590	321,181
Amortization of debt discount		95,214	465,507
Net gain on sale of vessels	(2,453,736)		(1,340,952)
Amortization of fair value of below market time charters acquired	(1,714,370)	(857,945)
Share-based compensation	121,631	97,919	124,487
Change in the fair value of derivatives	565,748	(41,435)	(204,647)
Loss on debt extinguishment	491,571	328,291		$ 300,000
Trade accounts receivable	(1,297,926)	243,608	(73,210)
Prepaid expenses	282,216	(304,195)	24,703
Other receivables	47,479	460,909	(1,066,378)
Inventories	226,742	(184,773)	(511,373)
Due to related company	(771,490)	(1,877,333)	(2,732,256)
Trade accounts payable	(1,008,707)	1,539,553	766,052
Accrued expenses	(424,901)	482,671	282,045
Deferred revenues	(24,410)	556,140	(172,544)
Net cash (used in) / provided by operating activities of continuing operations	2,409,377	3,240,429	(1,474,830)
Cash flows from investing activities:
Cash paid for capitalized expenses and acquisition of vessels including attached time charter agreements		(55,720,226)	(1,867)
Cash paid for capitalized expenses	(647,069)
Insurance proceeds	2,343,606
Proceeds from sale of vessels	14,622,770		6,255,735
Net cash provided by / (used in) investing activities of continuing operations	16,319,307	(55,720,226)	6,253,868
Cash flows from financing activities:
Redemption of Series B preferred shares		(11,686,000)
Proceeds from issuance of common stock, net of commissions paid	715,550	6,853,101	1,975,110
Investment in subsidiary spun-off			(3,298,356)
Preferred dividends paid	(320,877)	(1,031,827)
Offering expenses paid	(184,321)	(136,724)	(22,488)
Loan arrangement fees paid		(566,500)	(419,863)
Proceeds from long-term bank loans		60,167,680	34,250,000
Repayment of long-term bank loans and vessel profit participation liability	(17,905,920)	(13,401,460)	(32,349,000)
Proceeds from related party loan		5,000,000
Repayment of related party loan	(625,000)
Net cash provided by / (used in) financing activities of continuing operations	(18,320,568)	45,198,270	135,403
Net increase / (decrease) in cash, cash equivalents and restricted cash	408,116	(7,281,527)	4,914,441
Cash, cash equivalents and restricted cash at beginning of year	5,930,061	13,211,588	8,297,147	13,211,588
Cash, cash equivalents and restricted cash at end of year, continuing operations	6,338,177	5,930,061	13,211,588
Cash breakdown
Cash and cash equivalents					$ 3,559,399	$ 985,418	$ 6,960,258
Restricted cash, current					345,010	610,376	117,063
Restricted cash, long term					2,433,768	4,334,267	6,134,267
Total cash, cash equivalents and restricted cash shown in the statement of cash flows, continuing operations	6,338,177	5,930,061	13,211,588	$ 13,211,588	$ 6,338,177	$ 5,930,061	$ 13,211,588
Net cash provided by operating activities of discontinued operations			3,970,170
Net cash used in investing activities of discontinued operations			(29,045,685)
Net cash provided by financing activities of discontinued operations			27,928,885
Cash paid for interest, net of capitalized expenses	4,253,625	3,100,049	2,475,631
Financing, and investing activities fees:
Offering expenses accrued	75,357	40,846	100,000
Payment-in-kind dividends	365,059	78,640	1,335,733
Capital expenditures included in liabilities		71,890
Accrued preferred dividends	168,676	161,315
Shares issued as consideration for acquisition of vessels	548,612	13,218,662
Preferred shares distributed to EuroDry			18,192,131
Eurodry [Member]
Financing, and investing activities fees:
Preferred shares distributed to EuroDry			$ 18,192,131
Conversion of Related Party Loan to Equity [Member]
Financing, and investing activities fees:
Shares issued in connection with related party loan converted to equity (in shares)	2,366,571

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation and General Information	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Business Description and Basis of Presentation [Text Block]	1. Euroseas Ltd. (the “Company” or “Euroseas”) was formed on May 5, 2005 June 28, 2005, June 29, 2005, January 2007, January 31, 2007. The operations of the vessels are managed by Eurobulk Ltd. (“Eurobulk” or “Management Company” or “Manager”), a corporation controlled by members of the Pittas family. Eurobulk has an office in Greece located at 4 7 The Pittas family is the controlling shareholder of Friends Investment Company Inc., Containers Shareholders Trinity Ltd., Eurobulk Marine Holdings Inc., Colby Trading Ltd. and Diamantis Shareholders Ltd., which, in turn, collectively own 60.2% December 31, 2020. Following the close of trading on the Nasdaq Capital Market on May 30, 2018, one five May 23, 2018. May 31, 2018 In August 2019, four $28.2 $15 2,816,901 two 8 8 $16,167,680 64.3% four 1,740 2005 2007, 3,100 2007, 2,008 1998. August 2, 2019, August 7, 2019, 4 In November 2019, November 18, 2019 November 21, 2019) four 4,253 three 2009 2008 4 $40 four $32 8 $6 $5.68 $2 6 three 7 November 2020, 161,357 one 10 On March 11, 2020, 2019 19” implemented measures to combat the outbreak, such as travel restrictions . Such measures have and will likely continue to cause severe trade disruptions, significant reduction in global economic activity and extreme volatility in the global financial markets. not 19, 2020, 2020 2021, continues to be a high level of uncertainty relating to how the pandemic will evolve, including the availability of vaccines and their global deployment, the development of effective treatments, the imposition of effective public safety and other protective measures and the public's and government's responses to such measures. Accordingly, an estimate of the impact 19 cannot be made at this time may may not 2020 . The Company effected an 8 1 December 18, 2019 ( 18 The Company is engaged in the ocean transportation of containers through ownership and operation of container carrier ship-owning companies. Details of the Company's wholly owned subsidiaries are set out below: · Allendale Investment S.A., incorporated in Panama on January 22, 2002, 18,154 1,169 twenty 1993 May 13, 2002. July 30, 2020. · Alterwall Business Inc., incorporated in Panama on January 15, 2001, 18,253 1,169 1990 February 16, 2001. September 30, 2020. · Manolis Shipping Ltd., incorporated in the Republic of Marshall Islands on March 16, 2007, 20,346 1,452 1995 April 12, 2007. July 2, 2020. · Noumea Shipping Ltd, incorporated in the Republic of Marshall Islands on May 14, 2008, 34,677 2,556 2001 May 22, 2008. · Eleni Shipping Ltd., incorporated in the Republic of Liberia on February 11, 2009, 72,119 1997, March 6, 2009 January 26, 2017. · Joanna Maritime Ltd., incorporated in Liberia on June 10, 2013, 22,301 1,732 1999 July 4, 2013. January 8, 2016, March 17, 2017 · Jonathan John Shipping Ltd., incorporated in the Republic of the Marshall Islands on August 19, 2016, 18,581 1,439 1997 September 29, 2016. · Gregos Shipping Ltd., incorporated in the Republic of Liberia on May 25, 2017, 35,600 2,788 2004 June 20, 2017. · Athens Shipping Ltd., incorporated in the Republic of the Marshall Islands on September 18, 2017, 32,350 2,506 2000 September 29, 2017. November 9, 2020. · Corfu Navigation Ltd., incorporated in the Republic of the Marshall Islands on September 18, 2017, 34,654 2,556 2001 October 29, 2017. · Oinousses Navigation Ltd., incorporated in the Republic of the Marshall Islands on September 18, 2017, 32,350 2,506 2000 October 23, 2017. July 17, 2020. · Bridge Shipping Ltd., incorporated in the Republic of the Marshall Islands on September 18, 2017, 71,366 5,610 2001 December 21, 2017. · Diamantis Shipowners Ltd., incorporated in the Republic of Liberia on June 3, 2019, 30,360 2,008 1998 August 2, 2019. · Hydra Shipowners Ltd., incorporated in the Republic of Liberia on June 3, 2019, 23,351 1,740 2005 August 2, 2019. · Spetses Shipowners Ltd., incorporated in the Republic of Liberia on June 3, 2019, 23,224 1,740 2007 August 7, 2019. · Kea Shipowners Ltd., incorporated in the Republic of Liberia on June 3, 2019, 42,165 3,100 2007 August 7, 2019. · Antwerp Shipping Ltd., incorporated in the Republic of the Marshall Islands on November 1, 2019, 50,726 4,253 2008 November 19, 2019. · Keelung Shipping Ltd., incorporated in the Republic of the Marshall Islands on November 1, 2019, 50,969 4,253 2009 November 18, 2019. · Oakland Shipping Ltd., incorporated in the Republic of the Marshall Islands on November 1, 2019, 50,787 4,253 2009 November 19, 2019. · Busan Shipping Ltd., incorporated in the Republic of the Marshall Islands on November 1, 2019, 50,726 4,253 2009 November 21, 2019. As of December 31, 2020, $19.0 December 31, 2020, $2.4 $3.6 $2.8 December 31, 2020. not may twelve During the years ended December 31, 2018, 2019 2020, 10% Year ended December 31, Charterer 2018 2019 2020 Maersk Line A/S - 11 % 19 % MSC Geneva 11 % 15 % 18 % CMA CGM, Marseille 51 % 24 % 17 % New Golden Sea Shipping Pte. Ltd., Singapore 33 % 21 % 10 % Hapag-Lloyd AG, Hamburg - 16 % -

Note 2 - Significant Accounting

Note 2 - Significant Accounting Policies	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Significant Accounting Policies [Text Block]	2. The accompanying consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America. The following are the significant accounting policies adopted by the Company: Principles of consolidation The accompanying consolidated financial statements include the accounts of Euroseas Ltd. and its subsidiaries. Inter-company balances and transactions are eliminated on consolidation. Use of estimates The preparation of the accompanying consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosures of contingent assets and liabilities at the date of the consolidated financial statements, and the stated amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Other comprehensive income / (loss) The Company has no no Foreign currency translation The Company's functional currency as well as the functional currency of all its subsidiaries is the U.S. dollar. Assets and liabilities denominated in foreign currencies are translated into U.S. dollars at exchange rates prevailing at the balance sheet date. Income and expenses denominated in foreign currencies are translated into U.S. dollars at exchange rates prevailing at the date of the transaction. The resulting exchange gains and/or losses on settlement or translation are included in the accompanying consolidated statements of operations. Cash equivalents Cash equivalents are cash in bank accounts, time deposits or other certificates purchased with an original maturity of three Restricted cash Restricted cash reflects deposits with certain banks that can only be used to pay the current loan installments or are required to be maintained as a certain minimum cash balance per mortgaged vessel and amounts that are pledged, blocked or held as cash collateral. Trade accounts receivable The amount shown as trade accounts receivable, at each balance sheet date, includes estimated recoveries from each voyage or time charter. At each balance sheet date, the Company provides for doubtful accounts on the basis of specific identified doubtful receivables. Inventories Inventories are stated at the lower of cost and net realizable value, which is the estimated selling price less reasonably predictable costs of disposal and transportation. Inventories are valued using the FIFO (First-In First-Out) method. Vessels Vessels are stated at cost, which comprises the vessel contract price, costs of major repairs and improvements upon acquisition, direct delivery and other acquisition expenses, less accumulated depreciation and impairment, if any. Subsequent expenditures for conversions and major improvements are also capitalized when they appreciably extend the life, increase the earning capacity or improve the efficiency or safety of the vessels; otherwise these amounts are charged to expense as incurred. Vessels under construction are presented at cost, which includes shipyard installment payments and other vessel costs incurred during the construction period that are directly attributable to the construction of the vessels, including interest costs incurred during the construction period. Expenditures for vessel repair and maintenance are charged against income in the period incurred. Vessels Held for Sale The Company may one Vessels classified as held for sale are measured at the lower of their carrying amount or fair value less the cost to sell. The resulting difference, if any, is recorded under “Loss on write-down of vessel held for sale” in the consolidated statements of operations. The vessels are no Depreciation Depreciation is calculated on a straight-line basis over the estimated useful life of the vessel with reference to the cost of the vessel, and estimated scrap value. Remaining useful lives of vessels are periodically reviewed and revised to recognize changes in conditions and such revisions, if any, are recognized over current and future periods. The Company estimates that its vessels have a useful life of 25 $250 December 31, 2020 2019. Insurance claims and insurance proceeds Claims receivable are recorded on the accrual basis and represent the amounts to be received, net of deductibles incurred through each balance sheet date, for which recovery from insurance companies is probable and the claim is not Revenue and expense recognition Revenues are generated from time charters and voyage charters. Under a time charter agreement a contract is entered into for the use of a vessel for a specific period of time and a specified fixed or index-linked daily charter hire rate. Under a voyage charter agreement, a contract is made in the spot market for the use of a vessel for a specific voyage to transport a specified agreed upon cargo at a specified freight rate per ton or occasionally a lump sum amount. Under a voyage charter agreement, the charter party generally has a minimum amount of cargo and the charterer is liable for any short loading of cargo or "dead" freight. On January 1, 2019, 842” 842 842, not 842 842 not A time charter is a contract for the use of a vessel for a specific period of time and a specified daily fixed or index-linked charter hire rate, which is generally payable 15 30 20 3 12 December 31, 2020, 4 33 8 12 842, not As discussed above, the transition guidance associated with ASC 842 not 842. Both the lease component and non-lease component are earned by the passage of time. The performance obligations in a time charter contract are recognized on a straight-line basis over the term of the respective time charter agreements, beginning when the vessel is delivered to the charterer until it is redelivered back to the Company, and are recorded in “Time charter revenue” in the consolidated statements of operations for the years ended December 31, 2018, 2019 2020. may Voyage charter agreements are considered service contracts that fall under the provisions of ASC 606, 842 not not one Demurrage income, which is included in Voyage charter revenues, represents revenue earned from the charterer when loading or discharging time exceeded the stipulated time in the voyage charter agreement and is recognized when earned and collection is reasonably assured. Demurrage income for the years ended December 31, 2018, 2019 2020 not Charter fees received in advance are recorded as a liability (deferred revenue) until charter services are rendered. Vessel operating expenses are comprised of all expenses relating to the operation of the vessels, including crewing, insurance, repairs and maintenance, stores, lubricants, spares and consumables, professional and legal fees and miscellaneous expenses. Vessel operating expenses are recognized as incurred; payments in advance of services or use are recorded as prepaid expenses. Under voyage charter agreements, voyage expenses relate to bunkers, port charges, canal tolls, and agency fees and are all paid by the Company. All voyage costs are expensed as incurred with the exception of the contract fulfilment costs that are incurred from the later of the end of the previous vessel employment and the contract date and until the commencement of loading the cargo on the relevant vessel, which are capitalized to the extent the Company, in its reasonable judgement, determines that they (i) are directly related to a contract, (ii) will be recoverable and (iii) enhance the Company's resources by putting the Company's vessel in a location to satisfy its performance obligation under a contract pursuant to the provisions of ASC 340 40 may Commissions (address and brokerage), regardless of charter type, are always paid by the Company, are deferred and amortized over the related charter period and are presented as a separate line item in revenues to arrive at net revenues in the accompanying consolidated statements of operations. Dry-docking and special survey expenses Dry-docking and special survey expenses are expensed as incurred. Pension and retirement benefit obligations – crew The ship-owning companies contract the crews on board the vessels under short-term contracts (usually up to 9 not Financing costs Fees paid to lenders or required to be paid to third 470 50, not Offering expenses Expenses directly attributable to an equity offering are deferred and are either presented against proceeds from the offering within paid-in capital or are written-off and charged to “General and administrative expenses” in the consolidated statements of operations when it is probable that the offering will be aborted. Fair value of above/below market time charters acquired The Company values any asset or liability arising from the market value of any time charter assumed when a vessel is acquired. Where vessels are acquired with existing time charters, the Company determines the present value of the difference between: (i) the contractual charter rate and (ii) the market rate for a charter of equivalent duration prevailing at the time the vessels are delivered. In discounting the charter rate differences in future periods, the Company uses its Weighted Average Cost of Capital (WACC) adjusted to account for the credit quality of the counterparties, as deemed necessary. The cost of the acquisition is allocated to the vessel and the in-place time charter attached on the basis of their relative fair values. The capitalized above-market (assets) and below-market (liabilities) charters are amortized as a reduction and increase, respectively, to time charter revenues over the remaining term of the assumed time charter. Stock incentive plan awards Share-based compensation represents vested and non-vested restricted shares granted to officers and directors as well as to non-employees and are included in “General and administrative expenses” in the consolidated statements of operations. The shares to employees and directors as well as to non-employees are measured at their fair value equal to the market value of the Company's common stock on the grant date. The shares that do not Impairment of vessels The Company reviews its vessels held for use for impairment whenever events or changes in circumstances indicate that the carrying amount of the vessels may not In developing its estimates of future undiscounted net operating cash flows, the Company makes assumptions and estimates about vessels' future performance, with the significant assumptions being related to charter rates, fleet utilization, vessel operating expenses, drydocking costs, vessels' residual value and the estimated remaining useful lives of the vessels. These assumptions are based on historical trends as well as future expectations. The Company determines the rates to be used in its impairment analysis based on the prevailing market charter rates for the first two third 19 2020, 18 2019, 2002 not 1.5% $250 If the Company's estimate of future undiscounted net operating cash flows for any vessel is lower than the vessel's carrying value, the carrying value is written down to the vessel's fair market value with a charge recorded under “Impairment loss” in the consolidated statements of operations. Derivative financial instruments Derivative instruments are recorded in the balance sheet as either an asset or liability measured at its fair value with changes in the instruments' fair value recognized as either a component in other comprehensive income if specific hedge accounting criteria are met in accordance with guidance relating to “Derivatives and Hedging” or in earnings if hedging criteria are not Preferred shares Preferred shares are recorded at the initial consideration received less offering expenses and adjusted by including the redemption value of dividends paid in-kind. The Company recognizes changes in the redemption value of the preferred shares immediately as they occur and adjusts the carrying amount of the preferred shares to equal the redemption value at the end of each reporting period to that effect. Evaluation of purchase transactions When the Company enters into an acquisition transaction, it determines whether the acquisition transaction was the purchase of an asset or a business based on the facts and circumstances of the transaction. In accordance with Business Combinations (Topic 805 not Earnings / (loss) per common share Basic earnings / (loss) per share is computed by dividing net income / (loss) attributable to common shareholders, after the deduction of dividends paid (in cash or in-kind) to preferred shareholders, by the weighted-average number of common shares outstanding during the period. The weighted-average number of common shares outstanding does not December 31, 2019 2020, not Diluted earnings / (loss) per share gives effect to all potentially dilutive securities to the extent that they are dilutive, using the treasury stock method. The Company uses the treasury stock method for non-vested restricted shares, while for the preferred shares issued the Company uses the if-converted method to assess the dilutive effect. Segment reporting The Company reports financial information and evaluates its operations by charter revenue and not not not one Recent accounting pronouncements In June 2016, 2016 13, 326 November 2018, 2018 19 326, not 326 20 842. December 15, 2019, 326 January 1, 2020 no In August 2018, 2018 13, 820 820, 3 December 15, 2019. 820 January 1, 2020 no Recent accounting pronouncements In March 2020, No. 2020 04, 848 2020 04” March 12, 2020 December 31, 2022. January 2021, 2021 01 848 March 2020, 2020 04 may

Note 3 - Inventories

Note 3 - Inventories	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Inventory Disclosure [Text Block]	3. Inventories Inventories consisted of the following: 2019 2020 Lubricants 1,728,861 1,558,484 Victualing 160,303 103,938 Total 1,889,164 1,662,422

Note 4 - Vessels, Net

Note 4 - Vessels, Net	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	4. Vessels, net The amounts in the accompanying consolidated balance sheets are as follows: Costs Accumulated Depreciation Net Book Value Balance, January 1, 2019 61,279,976 (12,453,848 ) 48,826,128 - Depreciation for the year - (4,178,886 ) (4,178,886 ) - Vessel acquisitions 71,214,470 - 71,214,470 - Capitalized expenses 368,621 - 368,621 Balance, December 31, 2019 132,863,067 (16,632,734 ) 116,230,333 - Depreciation for the year - (6,605,976 ) (6,605,976 ) - Sale of vessels (17,655,916 ) 5,365,717 (12,290,199 ) - Contingent consideration for vessel acquisitions (Note 18) 548,612 - 548,612 - Capitalized expenses 575,677 - 575,677 Balance, December 31, 2020 116,331,440 (17,872,993 ) 98,458,447 Capitalized expenses for the year ended December 31, 2020 December 31, 2019 December 31, 2019, one $0.4 Sale of vessels The Company considers the potential sale of its vessels, for scrap or further trading, depending on a vessel's age, any additional capital expenditures required, the expected revenues from continuing to own the vessel and the overall market prospects. On June 25, 2018 $1.4 December 31, 2018, In January 2020, 19 June 30, 2020 $3.7 $0.1 $3.8 July 6, 2020 $3.6 July 17, 2020. $0.1 Following a strategy of disposing of older vessels the Company entered into the following vessel sale agreements: In February 2020, April 7, 2020, not 19 $1,133,817 June 19, 2020 $2.0 July 2, 2020. $0.3 On July 13, 2020 $1.9 July 30, 2020. $0.3 On September 17, 2020 $2.3 September 30, 2020. $0.8 On October 29, 2020 $4.9 On October 29, 2020 $4.9 November 9, 2020. $1.2 Vessels acquired / delivered On August 2, 2019 1,740 2005 $6.73 On August 2, 2019 2,008 1998 $5.22 On August 7, 2019 3,100 2007 $9.48 On August 7, 2019 1,740 2007 $7.57 On November 19, 2019 4,253 2008 $10.11 On November 18, 2019 4,253 2009 $11.44 On November 19, 2019 4,253 2009 $10.50 On November 21, 2019 4,253 2009 $10.17 Impairment analysis The Company performed the undiscounted cash flow test as of December 31, 2019 2020 As of December 31, 2020, 8

Note 5 - Accrued Expenses

Note 5 - Accrued Expenses	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	5. The accrued expenses consisted of: December 31, 2019 December 31, 2020 Accrued payroll expenses 231,093 339,004 Accrued interest expense 590,216 173,576 Accrued general and administrative expenses 111,720 187,311 Accrued commissions 67,682 76,130 Other accrued expenses 724,610 524,399 Total 1,725,321 1,300,420

Note 6 - Fair Value of Below Ma

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

Note 7 - Related Party Transact

Note 7 - Related Party Transactions	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	7. Related Party Transactions The Company's vessel owning companies are parties to management agreements with the Manager (see Note 1 685 2018, 2019 2020, The Company's Master Management Agreement (“MMA”) with Eurobulk provides for an annual adjustment of the daily vessel management fee due to inflation to take effect January 1 five five 90th The MMA was amended and restated as of January 1, 2012 5% 20 685 342.5 5% The MMA was further renewed on January 1, 2018 five January 1, 2023 5% 685 December 31, 2018, 2019 2020 2021. Vessel management fees paid to the Manager amounted to $3,536,094, $3,671,335 $5,293,199 2018, 2019 2020, In addition to the vessel management services, the Manager provides executive services to the Company. In 2018 $2,000,000 $1,250,000. On November 15, 2019, $2,000,000 November 2019. 2019, $1,250,000 January 1, 2019 November 15, 2019 $2,000,000 November 16, 2019 December 31, 2019. $1,561,126, $1,344,250 $2,000,000 2018, 2019 2020, Amounts due to or from related company represent net disbursements and collections made on behalf of the vessel-owning companies by the Management Company during the normal course of operations for which a right of off-set exists. As of December 31, 2019 2020, $795,562 $24,072, In August 2019, four 1 $28.2 $15 2,816,901 On September 30, 2019, $2.5 8% second 2020 $625,000 November 2020, 8 On November 1, 2019, second $2.5 8% 8 The Company uses brokers for various services, as is industry practice. Eurochart S.A., an affiliated company controlled by certain members of the Pittas family, provides vessel sale and purchase services, and chartering services to the Company whereby the Company pays commission of 1% 1.25% $64,500, nil $153,750 2018, 2019 2020, 1% . $453,361, $493,341 $504,892 2018, 2019 2020, Certain members of the Pittas family, together with another unrelated ship management company, have formed a joint venture with the insurance broker Sentinel Maritime Services Inc. (“Sentinel”). Technomar Crew Management Services Corp (“Technomar”) is a company owned by certain members of the Pittas family, together with two not 5%; $50 $118,684 $137,385 2018, $106,749 $142,332 2019, $100,837 $203,678 2020,

Note 8 - Long-term Bank Loans

Note 8 - Long-term Bank Loans	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Long-term Debt [Text Block]	8. Long-Term Bank Loans These consist of bank loans of the ship-owning companies and are as follows: Borrower December 31, December 31, Joanna Maritime Ltd. / Jonathan John Shipping Ltd. / Corfu Navigation Ltd. / Bridge Shipping Ltd. / Noumea Shipping Ltd. / Gregos Shiping Ltd. (a) 37,650,000 24,625,000 Diamantis Shipowners Ltd. (b) 3,507,220 3,026,300 Kea Shipowners Ltd. / Spetses Shipowners Ltd. / Hydra Shipowners Ltd. (c) 12,050,000 11,150,000 Antwerp Shipping Ltd. / Busan Shipping Ltd. / Keelung Shipping Ltd. / Oakland Shipping Ltd. (d) 32,000,000 28,500,000 85,207,220 67,301,300 Less: Current portion (12,541,840 ) (20,891,840 ) Long-term portion 72,665,380 46,409,460 Deferred charges, current portion 246,520 246,520 Deferred charges, long-term portion 477,595 189,432 Long-term bank loans, current portion net of deferred charges 12,295,320 20,645,320 Long-term bank loans, long-term portion net of deferred charges 72,187,785 46,220,028 Loan from related party, current Euroseas Ltd. (e) 5,000,000 2,500,000 The future annual loan repayments are as follows: To December 31: 2021 20,891,840 2022 8,884,460 2023 37,525,000 Total 67,301,300 (a) On November 21, 2018, $45,000,000. $30,000,000 November 21, 2018 18 12 $900,000 $19,200,000 November 2021. 3.90% 4.40% Each quarterly principal instalment paid is added to the revolving tranche and may $7,350,000 December 31, 2019, 55% 2001 0.40% 1% June 26, 2020, second $2,700,000 three 2020 November 2021. Within the third fourth 2020 five $11,750,000 $400,000 $12,150,000 February 2021. The loan is secured with (i) first first one 100% first may $300,000 2018 On May 30, 2019, two $12.0 55% two 4.40% 3.90% $5.0 $1.0 16 $375,000 $6,000,000 May 2023. June 26, 2020, $1,125,000 three 2020 May 2023, $7,125,000. first first $32,000 2019 140%. (b) On July 29, 2019, not $4,000,000 90% July 31, 2019, $3,667,680 twelve $160,460 $1,742,160 July 2022. 3.50% first first $32,000 2019 110% first 120% July 29, 2020, $160,460, third fourth 2020 July 2022, $1,902,620. (c) On July 30, 2019, $12,500,000. August 8, 2019. fourteen $450,000 $6,200,000 February 2023. 2.95%. first first $62,500 2019 130%. September 30, 2020, $900,000, third fourth 2020, February 2023, $7,100,000. (d) On November 8, 2019, $32,000,000. November 18, 2019. three $1,400,000 thirteen $800,000 $17,400,000 November 2023. 3.50%. first first $352,000 2019 125%. July 7, 2020, $1,500,000 third fourth 2020, November 2023, $18,900,000. On September 30, 2019, December 20, 2019 March 30, 2020, $2.5 8% four $625,000 November 2020. first May 15, 2020 three November 2020 . $51,111 $160,035 December 31, 2019 2020, November 24, 2020, $1,875,000 November 25, 2020, 702,247 fifteen $2.67 $491,571, $3.37 On November 1, 2019, second November 15, 2020, $2.5 8% March 31, 2021. $33,333 $201,248 December 31, 2019 2020, In addition to the terms specific to each bank loan described above, all the above bank loans are secured with a pledge of all the issued shares of each borrower. The bank loan agreements also contain covenants such as minimum requirements regarding the security cover ratio covenant (the ratio of fair value of vessel to outstanding loan less cash in retention accounts), restrictions as to changes in management and ownership of the ship-owning companies, distribution of profits or assets (i.e. not $4,410,376 $2,245,010 December 31, 2019 2020, December 31, 2020, Interest expense for the years ended December 31, 2018, 2019 2020 $2,703,845, $3,219,471 $3,836,985

Note 9 - Income Taxes

Note 9 - Income Taxes	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Income Tax Disclosure [Text Block]	9. Under the laws of the countries of the companies' incorporation and/or vessels' registration, the companies are not Under the United States Internal Revenue Code of 1986, 4% 883 50% not For 2018 not 2% not December 31, 2018 $15,135. 2018 June 15, 2019 For the taxable years 2019 2020 4% 5% 5% not 50%

Note 10 - Commitments and Conti

Note 10 - Commitments and Contingencies	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	10. Commitments and Contingencies (a) As of December 31, 2020 October 2009 November 2009 $0.53 $0.15 may (b) On November 7, 2019, 1 4 12 4,250 November 16, 2020 4:00 November 15, 2019 4:00 November 16, 2020, $500,000 20 November 16, 2020 4:00 four The specific contingency was resolved on November 16, 2020 November 15, 2019 ( 4 Based on the above agreement the Company issued on November 16, 2020 161,357 20 November 16, 2020 $3.09871. $3.40 There are no not As of December 31, 2020, $53.7 The amount of $40.2 December 31, 2021, $9.2 December 31, 2022 $4.3 December 31, 2023. one may not not

Note 11 - Stock Incentive Plan

Note 11 - Stock Incentive Plan	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Share-based Payment Arrangement [Text Block]	11. On July 31, 2014, 2014 “2014 May 5, 2018, “2018 2014 2018 75,000 10 2018 2018 may 2018 2014 2018 three December 31, 2020 a) On November 2, 2017 12,534 18 50% July 1, 2018 50% July 1, 2019; 7,213 5,321 b) On November 21, 2018 15,681 18 50% November 16, 2019 50% November 16, 2020; 9,021 6,660 c) On November 4, 2019 15,444 17 50% July 1, 2020 50% July 1, 2021; 8,713 6,731 d) On November 5, 2020 45,900 16 50% November 16, 2021 50% November 16, 2022; 27,100 18,800 All non-vested restricted shares are conditional upon the grantee's continued service as an employee of the Company, Eurobulk or as a director until the applicable vesting date. The grantee does not The Company accounts for restricted share awards forfeitures as they occur. During the year ended December 31, 2020, 817 $8.39 No December 31, 2018 2019. The compensation cost that has been charged against income for awards was $124,487, $97,919 $121,631, December 31, 2018, 2019 2020, A summary of the status of the Company's non-vested shares as of December 31, 2018, 2019 2020, Non-vested Shares Number of shares Weighted-Average Grant-Date Fair Value Non-vested on January 1, 2018 17,545 12.80 Granted 15,681 8.56 Vested (11,278 ) 12.16 Non-vested on December 31, 2018 21,948 10.16 Non-vested on January 1, 2019 21,948 10.16 Granted 15,444 8.13 Vested (14,108 ) 11.01 Non-vested on December 31, 2019 23,284 8.28 Non-vested on January 1, 2020 23,284 8.28 Granted 45,900 2.71 Vested (15,064 ) 8.34 Forfeited (817 ) 8.39 Non-vested on December 31, 2020 53,303 3.46 As of December 31, 2020, $143,878 2018 0.94 December 31, 2018, 2019 2020 $134,232, $125,560 $124,389

Note 12 - Earnings (Loss) Per S

Note 12 - Earnings (Loss) Per Share	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Earnings Per Share [Text Block]	12. Earnings / (Loss) Per Share Basic and diluted loss per common share is computed as follows: 2018 2019 2020 Income: Net (loss) / income, continuing operations (663,396 ) (1,682,671 ) 4,041,431 Dividends to Series B preferred shares (1,335,733 ) (1,271,782 ) (693,297 ) Preferred deemed dividend - (504,577 ) - Net (loss) / income attributable to common shareholders, continuing operations (1,999,129 ) (3,459,030 ) 3,348,134 Weighted average common shares –outstanding, basic and diluted 1,414,775 2,861,928 5,753,917 Basic and diluted (loss) / earnings per share, continuing operations (1.41 ) (1.21 ) 0.58 Net income attributable to common shareholders, discontinued operations 554,506 - - Net (loss) / income attributable to common shareholders (1,444,623 ) (3,459,030 ) 3,348,134 Basic and diluted (loss) / earnings per share (1.02 ) (1.21 ) 0.58 For the years ended December 31, 2018, 2019 2020, 21,948, 23,284 53,303 19,605, 8,000, 8,365 nil 2018, 2019 2020.

Note 13 - Voyage and Vessel Ope

Note 13 - Voyage and Vessel Operating Expenses	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Vessel Voyage and Operating Expenses [Text Block]	13. These consisted of: Year ended December 31, 2018 2019 2020 Voyage expenses Port charges and canal dues 384,893 251,197 451,586 Bunkers 876,195 804,211 882,673 Total 1,261,088 1,055,408 1,334,259 Vessel operating expenses Crew wages and related costs 11,020,924 13,111,682 17,866,847 Insurance 1,537,539 1,844,088 2,947,937 Repairs and maintenance 1,043,632 1,110,995 1,316,864 Lubricants 1,665,849 2,029,230 2,609,647 Spares and consumable stores 3,445,422 4,758,290 6,245,518 Professional and legal fees 252,156 259,311 255,948 Other 1,020,648 869,686 976,928 Total 19,986,170 23,983,282 32,219,689

Note 14 - Derivative Financial

Note 14 - Derivative Financial Instruments	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Derivative Instruments and Hedging Activities Disclosure [Text Block]	14. Interest rate swaps On October 17, 2014, one $10.0 October 14, 2014 May 28, 2019, 3 1.97% 0.50% November 28, 2016, 0.95% November 28, 2017 3.55% May 28, 2019) On April 16, 2020, one $30.0 April 24, 2020 April 24, 2025. 3 0.78% The interest rate swap contract did not December 31, 2020. December 31, 2019, no Derivatives not designated as hedging instruments Balance Sheet Location December 31, 2019 December 31, 2020 Interest rate swap contract Current liabilities – Derivative - 203,553 Interest rate swap contract Long-term liabilities – Derivative - 362,195 Total derivative liabilities - 565,748 Derivatives not designated as hedging instruments Location of gain (loss) recognized Year Ended December 31, 2018 Year Ended December 31, 2019 Year Ended December 31, 2020 Interest rate swap contract– Unrealized gain / (loss) Loss on derivatives, net 204,647 - (565,748) Interest rate swap contract- Realized loss Loss on derivatives, net (201,745 ) (2,885 ) (22,240 ) Total net gain / (loss) on interest rate swap contract 2,902 (2,885 ) 587,988 Freight Forward Agreements (“FFA”) In December 2017, three first three 2018, 90 $11,000 The two The FFA contracts did not 16 FFA contracts not designated as hedging instruments Location of gain (loss) recognized Year Ended December 31, 2018 Year Ended December 31, 2019 Year Ended December 31, 2020 FFA contracts – Unrealized loss Loss on derivatives, net - - - FFA contracts – Realized loss Loss on derivatives, net (47,245) - - Total loss on FFA contracts (47,245) - -

Note 15 - Preferred Shares

Note 15 - Preferred Shares	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Preferred Stock [Text Block]	15. Number of Shares Preferred Shares Amount Dividends paid-in-kind Total Balance, January 1, 2018 37,314 29,000,000 6,613,759 35,613,759 Dividends declared 1,333 - 1,335,733 1,335,733 Shares distributed to EuroDry (19,042 ) (14,500,000 ) (3,692,131 ) (18,192,131 ) Balance, December 31, 2018 19,605 14,500,000 4,257,361 18,757,361 Dividends declared 81 - 78,639 78,639 Redemption of shares (11,686 ) (8,155,055 ) (3,530,945 ) (11,686,000 ) Preferred deemed dividend - 504,577 - 504,577 Balance, December 31, 2019 8,000 6,849,522 805,055 7,654,577 Dividends declared 365 - 365,059 365,059 Balance, December 31, 2020 8,365 6,849,522 1,170,114 8,019,636 On January 27, 2014, 25,000 5,700 $29 $1,000 January 29, 2019 5%. The dividend rate increased to 12% two January 29, 2019 14% January 29, 2019, 40% $15.58 September 2015 fifth may At the Spin-off date Euroseas distributed EuroDry Series B Preferred Shares to holders of Euroseas' Series B Preferred Shares in exchange for a number of such Euroseas Series B Preferred Shares, representing 50% $14,500,000 $3,692,131 seven 2,254,830 19,042 100% 100% On June 10, 2019 $11.7 59.4%, 4% $8 January 29, 2021. 14% 20 1 2 $504,577, For the year ended December 31, 2018, four $1.34 December 31, 2019 $1.27 $0.08 $1.03 2019 $0.16 December 31, 2019 first 2020. December 31, 2020, four $0.69 $0.37 $0.15 $0.17 December 31, 2020 February 2021. December 31, 2020 $8,365,059. Subject to certain ownership thresholds, holders of Series B Preferred Shares have the right to appoint one one 50%

Note 16 - Financial Instruments

Note 16 - Financial Instruments	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Financial Instruments Disclosure [Text Block]	16. The principal financial assets of the Company consist of cash and cash equivalents, restricted cash, trade accounts receivable and other receivables. The principal financial liabilities of the Company consist of long-term bank loans, derivatives, trade accounts payable, accrued expenses and amount due to related company. Interest rate risk The Company enters into interest rate swap contracts as economic hedges to manage some of its exposure to variability in its floating rate long term bank loans. Under the terms of the interest rate swaps the Company and the bank agree to exchange, at specified intervals the difference between a paying fixed rate and receiving floating rate interest amount calculated by reference to the agreed principal amounts and maturities. Interest rate swaps allow the Company to convert long-term borrowings issued at floating rates into equivalent fixed rates. Even though the interest rate swaps were entered into for economic hedging purposes, as noted in Note 14 not Derivatives and Hedging not December 31, 2020 one $30.0 Concentration of credit risk Financial instruments, which potentially subject the Company to significant concentration of credit risk consist primarily of cash and trade accounts receivable. The Company places its temporary cash investments, consisting mostly of deposits, with high credit qualified financial institutions. The Company performs periodic evaluation of the relative credit standing of these financial institutions that are considered in the Company's investment strategy. The Company limits its credit risk with trade accounts receivable by performing ongoing credit evaluations of its customers' financial condition and generally does not Fair value of financial instruments The Company follows guidance relating to “Fair value measurements”, which establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosure about fair value measurements. This statement enables the reader of the financial statements to assess the inputs used to develop those measurements by establishing a hierarchy for ranking the quality and reliability of the information used to determine fair values. The statement requires that assets and liabilities carried at fair value will be classified and disclosed in one three Level 1: Level 2: Level 3: not The fair value of the Company's investments in FFA contracts are determined based on quoted prices in active markets and therefore are considered Level 1 The fair value of the Company's interest rate swap agreements is determined using a discounted cash flow approach based on market-based LIBOR swap rates. LIBOR swap rates are observable at commonly quoted intervals for the full terms of the swaps and therefore are considered Level 2 2 Recurring Fair Value Measurements Fair Value Measurement as of December 31, 2020 Total, (Level 1) (Level 2) (Level 3) Liabilities Interest rate swap contract, current portion $ 203,553 - $ 203,553 - Interest rate swap contract, long-term portion $ 362,195 - $ 362,195 - Asset Measured at Fair Value on a Non-recurring Basis On June 15, 2017, 35% $1,067,500 December 31, 2018, 2, June 2019 8 $950,000. December 31, 2019, $0.3 As of June 30, 2020 $3.77 $3.87 $0.22 $0.12 2. The estimated fair values of the Company's financial instruments such as cash and cash equivalents and restricted cash approximate their individual carrying amounts as of December 31, 2019 2020, 1 December 31, 2020, 2

Note 17 - Discontinued Operatio

Note 17 - Discontinued Operations	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]	17. Discontinued Operations Following the close of trading on the Nasdaq Capital Market on May 30, 2018, 1 . The revenue and loss for the discontinued operations for the years ended December 31, 2018, 2019 2020 Year Ended December 31 (discontinued operations) 2018 2019 2020 Statement of Operations Data Voyage revenue 25,934,204 - - Commissions (including $324,178, nil and nil respectively, to related party) (1,411,333 ) - - Voyage expenses (410,676 ) - - Vessel operating expenses (including $115,026, nil and nil, respectively, to related party) (9,183,152 ) - - Drydocking expenses (1,465,079 ) - - Related party management fees (1,701,340 ) - - Vessel depreciation (5,422,155 ) - - General and administrative expenses (including $731,456,nil and nil, respectively, to related party) (2,346,502 ) - - Operating income 3,993,967 - - Total other expenses, net (2,874,232 ) - - Net income 1,119,735 - - Dividend Series B Preferred Shares (565,229 ) - - Net income attributable to common shareholders 554,506 - - Euroseas contributed to EuroDry its interests in seven 2,254,830 19,042 May 30, 2018). Up to the Spin-off date, Euroseas had contributed to EuroDry an amount of $52.52 $9.66 $42.86

Note 18 - Common Stock

Note 18 - Common Stock	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	18. As per the Company's Amended and Restated Articles of Incorporation, the Company is authorized to issue 200,000,000 $0.03 Each outstanding share of common stock is entitled to one may may not may During November 2018, December 20, 2016, January 13, 2018 October 30, 2018, 139,509 $2.0 In addition, during the year ended December 31, 2018, 15,681 11 In August 2019, 2,816,901 1 During October 2019, December 20, 2016, January 13, 2017, October 30, 2018 May 30, 2019, 144,727 $0.9 In November 2019, $6 1,056,338 In addition, during the year ended December 31, 2019, 15,444 11 On December 19, 2019, 1 8 December 18, 2019. December 19, 2019. During August 2020, December 20, 2016, January 13, 2017, October 30, 2018 May 30, 2019, 200,000 $0.7 In addition, during the year ended December 31, 2020, 45,900 11 On November 16, 2020, 161,357 November 7, 2019 4 10 On November 24, 2020, $2.5 September 2019, $1.875 702,247 fifteen 8

Note 19 - Other Operating Incom

Note 19 - Other Operating Income	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Other Operating Income and Expense [Text Block]	19. In January 2020, $2.7 December 31, 2020, $2.3 December 31, 2020, $0.7 $0.3 $2.7

Note 20 - Subsequent Events

Note 20 - Subsequent Events	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Subsequent Events [Text Block]	20. The following events occurred after December 31, 2020: (a) On January 29, 2021, 2,000 $2,000,000 8% two 14% January 29, 2021. two 9%. 14% January 29, 2023. (b) In January February 2021, 82,901 $0.74

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	Principles of consolidation The accompanying consolidated financial statements include the accounts of Euroseas Ltd. and its subsidiaries. Inter-company balances and transactions are eliminated on consolidation.
Use of Estimates, Policy [Policy Text Block]	Use of estimates The preparation of the accompanying consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosures of contingent assets and liabilities at the date of the consolidated financial statements, and the stated amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Comprehensive Income, Policy [Policy Text Block]	Other comprehensive income / (loss) The Company has no no
Foreign Currency Transactions and Translations Policy [Policy Text Block]	Foreign currency translation The Company's functional currency as well as the functional currency of all its subsidiaries is the U.S. dollar. Assets and liabilities denominated in foreign currencies are translated into U.S. dollars at exchange rates prevailing at the balance sheet date. Income and expenses denominated in foreign currencies are translated into U.S. dollars at exchange rates prevailing at the date of the transaction. The resulting exchange gains and/or losses on settlement or translation are included in the accompanying consolidated statements of operations.
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash equivalents Cash equivalents are cash in bank accounts, time deposits or other certificates purchased with an original maturity of three
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]	Restricted cash Restricted cash reflects deposits with certain banks that can only be used to pay the current loan installments or are required to be maintained as a certain minimum cash balance per mortgaged vessel and amounts that are pledged, blocked or held as cash collateral.
Accounts Receivable [Policy Text Block]	Trade accounts receivable The amount shown as trade accounts receivable, at each balance sheet date, includes estimated recoveries from each voyage or time charter. At each balance sheet date, the Company provides for doubtful accounts on the basis of specific identified doubtful receivables.
Inventory, Policy [Policy Text Block]	Inventories Inventories are stated at the lower of cost and net realizable value, which is the estimated selling price less reasonably predictable costs of disposal and transportation. Inventories are valued using the FIFO (First-In First-Out) method.
Vessels [Policy Text Block]	Vessels Vessels are stated at cost, which comprises the vessel contract price, costs of major repairs and improvements upon acquisition, direct delivery and other acquisition expenses, less accumulated depreciation and impairment, if any. Subsequent expenditures for conversions and major improvements are also capitalized when they appreciably extend the life, increase the earning capacity or improve the efficiency or safety of the vessels; otherwise these amounts are charged to expense as incurred. Vessels under construction are presented at cost, which includes shipyard installment payments and other vessel costs incurred during the construction period that are directly attributable to the construction of the vessels, including interest costs incurred during the construction period. Expenditures for vessel repair and maintenance are charged against income in the period incurred.
Assets Held For Sale [Policy Text Block]	Vessels Held for Sale The Company may one Vessels classified as held for sale are measured at the lower of their carrying amount or fair value less the cost to sell. The resulting difference, if any, is recorded under “Loss on write-down of vessel held for sale” in the consolidated statements of operations. The vessels are no
Depreciation, Depletion, and Amortization [Policy Text Block]	Depreciation Depreciation is calculated on a straight-line basis over the estimated useful life of the vessel with reference to the cost of the vessel, and estimated scrap value. Remaining useful lives of vessels are periodically reviewed and revised to recognize changes in conditions and such revisions, if any, are recognized over current and future periods. The Company estimates that its vessels have a useful life of 25 $250 December 31, 2020 2019.
Insurance Premiums Revenue Recognition, Policy [Policy Text Block]	Insurance claims and insurance proceeds Claims receivable are recorded on the accrual basis and represent the amounts to be received, net of deductibles incurred through each balance sheet date, for which recovery from insurance companies is probable and the claim is not
Revenue [Policy Text Block]	Revenue and expense recognition Revenues are generated from time charters and voyage charters. Under a time charter agreement a contract is entered into for the use of a vessel for a specific period of time and a specified fixed or index-linked daily charter hire rate. Under a voyage charter agreement, a contract is made in the spot market for the use of a vessel for a specific voyage to transport a specified agreed upon cargo at a specified freight rate per ton or occasionally a lump sum amount. Under a voyage charter agreement, the charter party generally has a minimum amount of cargo and the charterer is liable for any short loading of cargo or "dead" freight. On January 1, 2019, 842” 842 842, not 842 842 not A time charter is a contract for the use of a vessel for a specific period of time and a specified daily fixed or index-linked charter hire rate, which is generally payable 15 30 20 3 12 December 31, 2020, 4 33 8 12 842, not As discussed above, the transition guidance associated with ASC 842 not 842. Both the lease component and non-lease component are earned by the passage of time. The performance obligations in a time charter contract are recognized on a straight-line basis over the term of the respective time charter agreements, beginning when the vessel is delivered to the charterer until it is redelivered back to the Company, and are recorded in “Time charter revenue” in the consolidated statements of operations for the years ended December 31, 2018, 2019 2020. may Voyage charter agreements are considered service contracts that fall under the provisions of ASC 606, 842 not not one Demurrage income, which is included in Voyage charter revenues, represents revenue earned from the charterer when loading or discharging time exceeded the stipulated time in the voyage charter agreement and is recognized when earned and collection is reasonably assured. Demurrage income for the years ended December 31, 2018, 2019 2020 not Charter fees received in advance are recorded as a liability (deferred revenue) until charter services are rendered. Vessel operating expenses are comprised of all expenses relating to the operation of the vessels, including crewing, insurance, repairs and maintenance, stores, lubricants, spares and consumables, professional and legal fees and miscellaneous expenses. Vessel operating expenses are recognized as incurred; payments in advance of services or use are recorded as prepaid expenses. Under voyage charter agreements, voyage expenses relate to bunkers, port charges, canal tolls, and agency fees and are all paid by the Company. All voyage costs are expensed as incurred with the exception of the contract fulfilment costs that are incurred from the later of the end of the previous vessel employment and the contract date and until the commencement of loading the cargo on the relevant vessel, which are capitalized to the extent the Company, in its reasonable judgement, determines that they (i) are directly related to a contract, (ii) will be recoverable and (iii) enhance the Company's resources by putting the Company's vessel in a location to satisfy its performance obligation under a contract pursuant to the provisions of ASC 340 40 may Commissions (address and brokerage), regardless of charter type, are always paid by the Company, are deferred and amortized over the related charter period and are presented as a separate line item in revenues to arrive at net revenues in the accompanying consolidated statements of operations.
Drydocking and Special Survey Expenses [Policy Text Block]	Dry-docking and special survey expenses Dry-docking and special survey expenses are expensed as incurred.
Pension and Other Postretirement Plans, Policy [Policy Text Block]	Pension and retirement benefit obligations – crew The ship-owning companies contract the crews on board the vessels under short-term contracts (usually up to 9 not
Financing Receivable [Policy Text Block]	Financing costs Fees paid to lenders or required to be paid to third 470 50, not
Offering Expenses [Policy Text Block]	Offering expenses Expenses directly attributable to an equity offering are deferred and are either presented against proceeds from the offering within paid-in capital or are written-off and charged to “General and administrative expenses” in the consolidated statements of operations when it is probable that the offering will be aborted.
Fair Value Measurement, Policy [Policy Text Block]	Fair value of above/below market time charters acquired The Company values any asset or liability arising from the market value of any time charter assumed when a vessel is acquired. Where vessels are acquired with existing time charters, the Company determines the present value of the difference between: (i) the contractual charter rate and (ii) the market rate for a charter of equivalent duration prevailing at the time the vessels are delivered. In discounting the charter rate differences in future periods, the Company uses its Weighted Average Cost of Capital (WACC) adjusted to account for the credit quality of the counterparties, as deemed necessary. The cost of the acquisition is allocated to the vessel and the in-place time charter attached on the basis of their relative fair values. The capitalized above-market (assets) and below-market (liabilities) charters are amortized as a reduction and increase, respectively, to time charter revenues over the remaining term of the assumed time charter.
Share-based Payment Arrangement [Policy Text Block]	Stock incentive plan awards Share-based compensation represents vested and non-vested restricted shares granted to officers and directors as well as to non-employees and are included in “General and administrative expenses” in the consolidated statements of operations. The shares to employees and directors as well as to non-employees are measured at their fair value equal to the market value of the Company's common stock on the grant date. The shares that do not
Impairment or Disposal of Long-Lived Assets, Including Intangible Assets, Policy [Policy Text Block]	Impairment of vessels The Company reviews its vessels held for use for impairment whenever events or changes in circumstances indicate that the carrying amount of the vessels may not In developing its estimates of future undiscounted net operating cash flows, the Company makes assumptions and estimates about vessels' future performance, with the significant assumptions being related to charter rates, fleet utilization, vessel operating expenses, drydocking costs, vessels' residual value and the estimated remaining useful lives of the vessels. These assumptions are based on historical trends as well as future expectations. The Company determines the rates to be used in its impairment analysis based on the prevailing market charter rates for the first two third 19 2020, 18 2019, 2002 not 1.5% $250 If the Company's estimate of future undiscounted net operating cash flows for any vessel is lower than the vessel's carrying value, the carrying value is written down to the vessel's fair market value with a charge recorded under “Impairment loss” in the consolidated statements of operations.
Derivatives, Policy [Policy Text Block]	Derivative financial instruments Derivative instruments are recorded in the balance sheet as either an asset or liability measured at its fair value with changes in the instruments' fair value recognized as either a component in other comprehensive income if specific hedge accounting criteria are met in accordance with guidance relating to “Derivatives and Hedging” or in earnings if hedging criteria are not
Stockholders' Equity Note, Redeemable Preferred Stock, Issue, Policy [Policy Text Block]	Preferred shares Preferred shares are recorded at the initial consideration received less offering expenses and adjusted by including the redemption value of dividends paid in-kind. The Company recognizes changes in the redemption value of the preferred shares immediately as they occur and adjusts the carrying amount of the preferred shares to equal the redemption value at the end of each reporting period to that effect.
Purchase Transactions [Policy Text Block]	Evaluation of purchase transactions When the Company enters into an acquisition transaction, it determines whether the acquisition transaction was the purchase of an asset or a business based on the facts and circumstances of the transaction. In accordance with Business Combinations (Topic 805 not
Earnings Per Share, Policy [Policy Text Block]	Earnings / (loss) per common share Basic earnings / (loss) per share is computed by dividing net income / (loss) attributable to common shareholders, after the deduction of dividends paid (in cash or in-kind) to preferred shareholders, by the weighted-average number of common shares outstanding during the period. The weighted-average number of common shares outstanding does not December 31, 2019 2020, not Diluted earnings / (loss) per share gives effect to all potentially dilutive securities to the extent that they are dilutive, using the treasury stock method. The Company uses the treasury stock method for non-vested restricted shares, while for the preferred shares issued the Company uses the if-converted method to assess the dilutive effect.
Segment Reporting, Policy [Policy Text Block]	Segment reporting The Company reports financial information and evaluates its operations by charter revenue and not not not one
New Accounting Pronouncements, Policy [Policy Text Block]	Recent accounting pronouncements In June 2016, 2016 13, 326 November 2018, 2018 19 326, not 326 20 842. December 15, 2019, 326 January 1, 2020 no In August 2018, 2018 13, 820 820, 3 December 15, 2019. 820 January 1, 2020 no Recent accounting pronouncements In March 2020, No. 2020 04, 848 2020 04” March 12, 2020 December 31, 2022. January 2021, 2021 01 848 March 2020, 2020 04 may

Note 1 - Basis of Presentatio_2

Note 1 - Basis of Presentation and General Information (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedules of Concentration of Risk, by Risk Factor [Table Text Block]	Year ended December 31, Charterer 2018 2019 2020 Maersk Line A/S - 11 % 19 % MSC Geneva 11 % 15 % 18 % CMA CGM, Marseille 51 % 24 % 17 % New Golden Sea Shipping Pte. Ltd., Singapore 33 % 21 % 10 % Hapag-Lloyd AG, Hamburg - 16 % -

Note 3 - Inventories (Tables)

Note 3 - Inventories (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Inventory, Current [Table Text Block]	2019 2020 Lubricants 1,728,861 1,558,484 Victualing 160,303 103,938 Total 1,889,164 1,662,422

Note 4 - Vessels, Net (Tables)

Note 4 - Vessels, Net (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Property, Plant and Equipment [Table Text Block]	Costs Accumulated Depreciation Net Book Value Balance, January 1, 2019 61,279,976 (12,453,848 ) 48,826,128 - Depreciation for the year - (4,178,886 ) (4,178,886 ) - Vessel acquisitions 71,214,470 - 71,214,470 - Capitalized expenses 368,621 - 368,621 Balance, December 31, 2019 132,863,067 (16,632,734 ) 116,230,333 - Depreciation for the year - (6,605,976 ) (6,605,976 ) - Sale of vessels (17,655,916 ) 5,365,717 (12,290,199 ) - Contingent consideration for vessel acquisitions (Note 18) 548,612 - 548,612 - Capitalized expenses 575,677 - 575,677 Balance, December 31, 2020 116,331,440 (17,872,993 ) 98,458,447

Note 5 - Accrued Expenses (Tabl

Note 5 - Accrued Expenses (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	December 31, 2019 December 31, 2020 Accrued payroll expenses 231,093 339,004 Accrued interest expense 590,216 173,576 Accrued general and administrative expenses 111,720 187,311 Accrued commissions 67,682 76,130 Other accrued expenses 724,610 524,399 Total 1,725,321 1,300,420

Note 8 - Long-term Bank Loans (

Note 8 - Long-term Bank Loans (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Long-term Debt Instruments [Table Text Block]	Borrower December 31, December 31, Joanna Maritime Ltd. / Jonathan John Shipping Ltd. / Corfu Navigation Ltd. / Bridge Shipping Ltd. / Noumea Shipping Ltd. / Gregos Shiping Ltd. (a) 37,650,000 24,625,000 Diamantis Shipowners Ltd. (b) 3,507,220 3,026,300 Kea Shipowners Ltd. / Spetses Shipowners Ltd. / Hydra Shipowners Ltd. (c) 12,050,000 11,150,000 Antwerp Shipping Ltd. / Busan Shipping Ltd. / Keelung Shipping Ltd. / Oakland Shipping Ltd. (d) 32,000,000 28,500,000 85,207,220 67,301,300 Less: Current portion (12,541,840 ) (20,891,840 ) Long-term portion 72,665,380 46,409,460 Deferred charges, current portion 246,520 246,520 Deferred charges, long-term portion 477,595 189,432 Long-term bank loans, current portion net of deferred charges 12,295,320 20,645,320 Long-term bank loans, long-term portion net of deferred charges 72,187,785 46,220,028 Loan from related party, current Euroseas Ltd. (e) 5,000,000 2,500,000
Schedule of Future Annual Loan Repayments [Table Text Block]	To December 31: 2021 20,891,840 2022 8,884,460 2023 37,525,000 Total 67,301,300

Note 11 - Stock Incentive Plan

Note 11 - Stock Incentive Plan (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Nonvested Share Activity [Table Text Block]	Non-vested Shares Number of shares Weighted-Average Grant-Date Fair Value Non-vested on January 1, 2018 17,545 12.80 Granted 15,681 8.56 Vested (11,278 ) 12.16 Non-vested on December 31, 2018 21,948 10.16 Non-vested on January 1, 2019 21,948 10.16 Granted 15,444 8.13 Vested (14,108 ) 11.01 Non-vested on December 31, 2019 23,284 8.28 Non-vested on January 1, 2020 23,284 8.28 Granted 45,900 2.71 Vested (15,064 ) 8.34 Forfeited (817 ) 8.39 Non-vested on December 31, 2020 53,303 3.46

Note 12 - Earnings (Loss) Per_2

Note 12 - Earnings (Loss) Per Share (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	2018 2019 2020 Income: Net (loss) / income, continuing operations (663,396 ) (1,682,671 ) 4,041,431 Dividends to Series B preferred shares (1,335,733 ) (1,271,782 ) (693,297 ) Preferred deemed dividend - (504,577 ) - Net (loss) / income attributable to common shareholders, continuing operations (1,999,129 ) (3,459,030 ) 3,348,134 Weighted average common shares –outstanding, basic and diluted 1,414,775 2,861,928 5,753,917 Basic and diluted (loss) / earnings per share, continuing operations (1.41 ) (1.21 ) 0.58 Net income attributable to common shareholders, discontinued operations 554,506 - - Net (loss) / income attributable to common shareholders (1,444,623 ) (3,459,030 ) 3,348,134 Basic and diluted (loss) / earnings per share (1.02 ) (1.21 ) 0.58

Note 13 - Voyage and Vessel O_2

Note 13 - Voyage and Vessel Operating Expenses (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Voyage Vessel Operating Expenses and Commissions [Table Text Block]	Year ended December 31, 2018 2019 2020 Voyage expenses Port charges and canal dues 384,893 251,197 451,586 Bunkers 876,195 804,211 882,673 Total 1,261,088 1,055,408 1,334,259 Vessel operating expenses Crew wages and related costs 11,020,924 13,111,682 17,866,847 Insurance 1,537,539 1,844,088 2,947,937 Repairs and maintenance 1,043,632 1,110,995 1,316,864 Lubricants 1,665,849 2,029,230 2,609,647 Spares and consumable stores 3,445,422 4,758,290 6,245,518 Professional and legal fees 252,156 259,311 255,948 Other 1,020,648 869,686 976,928 Total 19,986,170 23,983,282 32,219,689

Note 14 - Derivative Financia_2

Note 14 - Derivative Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]	Derivatives not designated as hedging instruments Balance Sheet Location December 31, 2019 December 31, 2020 Interest rate swap contract Current liabilities – Derivative - 203,553 Interest rate swap contract Long-term liabilities – Derivative - 362,195 Total derivative liabilities - 565,748
Derivative Instruments, Gain (Loss) [Table Text Block]	Derivatives not designated as hedging instruments Location of gain (loss) recognized Year Ended December 31, 2018 Year Ended December 31, 2019 Year Ended December 31, 2020 Interest rate swap contract– Unrealized gain / (loss) Loss on derivatives, net 204,647 - (565,748) Interest rate swap contract- Realized loss Loss on derivatives, net (201,745 ) (2,885 ) (22,240 ) Total net gain / (loss) on interest rate swap contract 2,902 (2,885 ) 587,988 FFA contracts not designated as hedging instruments Location of gain (loss) recognized Year Ended December 31, 2018 Year Ended December 31, 2019 Year Ended December 31, 2020 FFA contracts – Unrealized loss Loss on derivatives, net - - - FFA contracts – Realized loss Loss on derivatives, net (47,245) - - Total loss on FFA contracts (47,245) - -

Note 15 - Preferred Shares (Tab

Note 15 - Preferred Shares (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Stockholders Equity [Table Text Block]	Number of Shares Preferred Shares Amount Dividends paid-in-kind Total Balance, January 1, 2018 37,314 29,000,000 6,613,759 35,613,759 Dividends declared 1,333 - 1,335,733 1,335,733 Shares distributed to EuroDry (19,042 ) (14,500,000 ) (3,692,131 ) (18,192,131 ) Balance, December 31, 2018 19,605 14,500,000 4,257,361 18,757,361 Dividends declared 81 - 78,639 78,639 Redemption of shares (11,686 ) (8,155,055 ) (3,530,945 ) (11,686,000 ) Preferred deemed dividend - 504,577 - 504,577 Balance, December 31, 2019 8,000 6,849,522 805,055 7,654,577 Dividends declared 365 - 365,059 365,059 Balance, December 31, 2020 8,365 6,849,522 1,170,114 8,019,636

Note 16 - Financial Instrumen_2

Note 16 - Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]	Fair Value Measurement as of December 31, 2020 Total, (Level 1) (Level 2) (Level 3) Liabilities Interest rate swap contract, current portion $ 203,553 - $ 203,553 - Interest rate swap contract, long-term portion $ 362,195 - $ 362,195 -

Note 17 - Discontinued Operat_2

Note 17 - Discontinued Operations (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Disposal Groups, Including Discontinued Operations [Table Text Block]	Year Ended December 31 (discontinued operations) 2018 2019 2020 Statement of Operations Data Voyage revenue 25,934,204 - - Commissions (including $324,178, nil and nil respectively, to related party) (1,411,333 ) - - Voyage expenses (410,676 ) - - Vessel operating expenses (including $115,026, nil and nil, respectively, to related party) (9,183,152 ) - - Drydocking expenses (1,465,079 ) - - Related party management fees (1,701,340 ) - - Vessel depreciation (5,422,155 ) - - General and administrative expenses (including $731,456,nil and nil, respectively, to related party) (2,346,502 ) - - Operating income 3,993,967 - - Total other expenses, net (2,874,232 ) - - Net income 1,119,735 - - Dividend Series B Preferred Shares (565,229 ) - - Net income attributable to common shareholders 554,506 - -

Note 1 - Basis of Presentatio_3

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

Nov. 16, 2020shares

Dec. 19, 2019

Dec. 18, 2019

Nov. 21, 2019USD ($)$ / shares

Nov. 08, 2019USD ($)

Jul. 29, 2019USD ($)

Nov. 30, 2020shares

Nov. 30, 2019USD ($)

Aug. 31, 2019USD ($)shares

Dec. 31, 2020USD ($)

Dec. 31, 2019USD ($)

Dec. 31, 2018USD ($)

May 30, 2018shares

Shareholders Ownership, Percentage

60.20%

Spinoff Transaction, Number of Eurodry Common Share Received by Company’s Shareholders for Every Five Common Shares (in shares) | shares

1

Spinoff Transaction, Number of Company’s Common Shares Exchanged for Each Common Share of Eurodry (in shares) | shares

5

Payments to Acquire Property, Plant, and Equipment, Total

$ 647,069

Proceeds from Issuance of Long-term Debt, Total

$ 16,167,680

Working Capital Surplus

19,000,000

Net Cash Provided by (Used in) Operating Activities, Continuing Operations, Total

2,409,377

$ 3,240,429

$ (1,474,830)

Cash, Ending Balance

3,600,000

Restricted Cash and Cash Equivalents, Total

$ 2,800,000

Reverse Stock Split [Member]

Stockholders' Equity Note, Stock Split, Conversion Ratio

8

8

Synergy Holdings Limited [Member]

Stock Issued During Period, Shares, Contingent Consideration, Acquisition of Vessels (in shares) | shares

161,357

161,357

Piraeus Bank S.A. [Member]

Proceeds from Issuance of Long-term Debt, Total

$ 3,667,680

Piraeus Bank S.A. [Member] | Second Debt Agreement [Member]

Proceeds from Issuance of Long-term Debt, Total

$ 32,000,000

Four Feeder Containerships [Member]

Number of Vessels Acquired

4

Consideration to Acquire Property, Plant and Equipment

$ 28,200,000

Payments to Acquire Property, Plant, and Equipment, Total

$ 15,000,000

Stock Issued During Period, Shares, Purchase of Assets (in shares) | shares

2,816,901

Shares Issued, Percent of Outsanding Shares of the Company

64.30%

Synergy Vessels [Member]

Consideration to Acquire Property, Plant and Equipment

$ 40,000,000

Payments to Acquire Property, Plant, and Equipment, Total

$ 2,000,000

Vessels Acquired During the Period

4

Proceeds from Issuance of Private Placement

$ 6,000,000

Shares Issued, Price Per Share (in dollars per share) | $ / shares

$ 5.68

Synergy Vessels [Member] | Piraeus Bank S.A. [Member] | Second Debt Agreement [Member]

Proceeds from Issuance of Debt

$ 32,000,000

Note 1 - Basis of Presentatio_4

Note 1 - Basis of Presentation and General Information - Charterers Individually Accounted for More than 10% of the Company's Voyage and Time Charter Revenues (Details) - Revenue Benchmark [Member] - Customer Concentration Risk [Member]	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Maersk Line A/S [Member]
Concentration Risk, Percentage	19.00%	11.00%
Charterer MSC [Member]
Concentration Risk, Percentage	18.00%	15.00%	11.00%
Charterer CMA [Member]
Concentration Risk, Percentage	17.00%	24.00%	51.00%
Charterer GSS [Member]
Concentration Risk, Percentage	10.00%	21.00%	33.00%
Hapag-Lloyd AG [Member]
Concentration Risk, Percentage		16.00%

Note 2 - Significant Accounti_2

Note 2 - Significant Accounting Policies (Details Textual)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Estimated Salvage Value Per Light Weight Ton of Vessel	250
Ship Owning Crew Contract Term (Month)		270 days
Percentage of Annual Increase in Internal Budget for Operating Expense	1.50%
Number of Reportable Segments	1
Minimum [Member]
Lessor, Operating Lease, Term of Contract (Day)	20 days
Lessor, Operating Lease, Renewal Term (Month)	120 days
Maximum [Member]
Lessor, Operating Lease, Term of Contract (Day)	3 years
Lessor, Operating Lease, Option to Renewal Term (Month)	1 year
Lessor, Operating Lease, Renewal Term (Month)	33 years
Vessels [Member]
Property, Plant and Equipment, Useful Life (Year)	25 years

Note 3 - Inventories - Summary

Note 3 - Inventories - Summary of Inventories (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Inventory	$ 1,662,422	$ 1,889,164
Lubricant [Member]
Inventory	1,558,484	1,728,861
Victualing [Member]
Inventory	$ 103,938	$ 160,303

Note 4 - Vessels, Net (Details

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

Nov. 09, 2020

Oct. 29, 2020

Sep. 17, 2020

Jul. 17, 2020

Jul. 13, 2020

Jul. 06, 2020

Jun. 19, 2020

Nov. 21, 2019

Nov. 19, 2019

Nov. 18, 2019

Aug. 07, 2019

Aug. 02, 2019

Jun. 25, 2018

Feb. 29, 2020

Jun. 30, 2020

Sep. 30, 2020

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Payments for Improvements of Property, Plant and Equipment

$ 400,000

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

$ 14,622,770

$ 6,255,735

Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property

2,453,736

1,340,952

Payments to Acquire Property, Plant, and Equipment, Total

647,069

M/V EM Oinousses [Member]

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

$ 1,400,000

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

$ 3,600,000

$ 3,700,000

Impairment of Long-Lived Assets to be Disposed of

$ 120,000

$ 100,000

Assets Held-for-sale, Not Part of Disposal Group, Current, Total

$ 3,770,000

$ 3,800,000

Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property

$ (100,000)

M/V Manolis P [Member]

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

$ 2,000,000

Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property

$ 300,000

Advance Received for Vessel Held for Sale

$ 1,133,817

M/V Kuo Hsiung [Member]

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

$ 1,900,000

Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property

$ 300,000

Ninos [Member]

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

$ 2,300,000

Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property

$ 800,000

MV EM Athens [Member]

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

$ 4,900,000

M/V EM Corfu [Member]

Payments to Acquire Property, Plant, and Equipment, Total

$ 4,900,000

M/V Aggeliki P. [Member]

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

$ 1,200,000

M/V EM Hydra [Member]

Payments to Acquire Property, Plant, and Equipment, Total

$ 6,730,000

M/V Diamantis [Member]

Payments to Acquire Property, Plant, and Equipment, Total

$ 5,220,000

EM Kea [Member]

Payments to Acquire Property, Plant, and Equipment, Total

$ 9,480,000

EM Spetses [Member]

Payments to Acquire Property, Plant, and Equipment, Total

$ 7,570,000

M/V Synergy Antwerp [Member]

Payments to Acquire Property, Plant, and Equipment, Total

$ 10,110,000

M/V Synergy Oakland [Member]

Payments to Acquire Property, Plant, and Equipment, Total

$ 10,500,000

$ 11,440,000

M/V Synergy Busan [Member]

Payments to Acquire Property, Plant, and Equipment, Total

$ 10,170,000

Note 4 - Vessels, Net - Summary

Note 4 - Vessels, Net - Summary of Vessels (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Net book value	$ 116,230,333
Vessel depreciation	(6,605,976)	$ (4,178,886)	$ (3,305,951)
- Depreciation for the year	(6,605,976)	(4,178,886)	(3,305,951)
Net book value	98,458,447	116,230,333
Vessels [Member]
Costs	132,863,067	61,279,976
Accumulated depreciation	(16,632,734)	(12,453,848)
Net book value	116,230,333	48,826,128
Vessel depreciation	(6,605,976)	(4,178,886)
- Depreciation for the year	(6,605,976)	(4,178,886)
- Vessel acquisitions		71,214,470
- Capitalized expenses	575,677	368,621
Costs	116,331,440	132,863,067	61,279,976
Net book value	98,458,447	116,230,333	48,826,128
- Sale of vessels	(17,655,916)
- Sale of vessels	5,365,717
- Sale of vessels	(12,290,199)
- Contingent consideration for vessel acquisitions (Note 18)	548,612
Costs	116,331,440	132,863,067	61,279,976
Accumulated depreciation	$ (17,872,993)	$ (16,632,734)	$ (12,453,848)

Note 5 - Accrued Expenses - Sum

Note 5 - Accrued Expenses - Summary of Accrued Expenses (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Accrued payroll expenses	$ 339,004	$ 231,093
Accrued interest expense	173,576	590,216
Accrued general and administrative expenses	187,311	111,720
Accrued commissions	76,130	67,682
Other accrued expenses	524,399	724,610
Total	$ 1,300,420	$ 1,725,321

Note 6 - Fair Value of Below _2

Note 6 - Fair Value of Below Market Time Charters Acquired (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Nov. 30, 2019	Aug. 01, 2019
Amortization of fair value of below market time charters acquired	$ 1,714,370	$ 857,945
Below Market Time Charters Acquired, Noncurrent		$ 1,714,370
Fair Value, Inputs, Level 2 [Member] | EM Hydra, EM Kea and EM Spetses [Member]
Below Market Time Charters, Fair Value					$ 778,287
Fair Value, Inputs, Level 2 [Member] | Synergy Keelung, Synergy Oakland and Synergy Busan [Member]
Below Market Time Charters, Fair Value				$ 1,794,028

Note 7 - Related Party Transa_2

Note 7 - Related Party Transactions (Details Textual)	Nov. 15, 2019USD ($)	Sep. 30, 2019USD ($)	Jan. 01, 2018	Jan. 01, 2012EUR (€)	Aug. 31, 2019USD ($)shares	Dec. 31, 2019USD ($)	Sep. 30, 2020	Nov. 15, 2019USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2020EUR (€)	Dec. 31, 2019USD ($)	Dec. 31, 2019EUR (€)	Dec. 31, 2018USD ($)	Dec. 31, 2018EUR (€)	Nov. 01, 2019USD ($)
Service Management Costs Daily Fee Related Party | €										€ 685		€ 685		€ 685
Related Party Agreement Term (Year)			5 years	5 years
Related Party Transaction Discount Percentage			5.00%	5.00%
Related Party Transaction Daily Fee Per Vessel Per Day in Lay Up | €				€ 342.50
Due to Related Parties, Total						$ 795,562			$ 24,072		$ 795,562
Payments to Acquire Property, Plant, and Equipment, Total									647,069
Four Feeder Containerships [Member]
Number of Vessels Acquired					4
Consideration to Acquire Property, Plant and Equipment					$ 28,200,000
Payments to Acquire Property, Plant, and Equipment, Total					$ 15,000,000
Stock Issued During Period, Shares, Purchase of Assets (in shares) | shares					2,816,901
Eurobulk Ltd. [Member] | Vessel Management Fees [Member]
Related Party Transaction, Amounts of Transaction									5,293,199		3,671,335		3,536,094
Eurobulk Ltd. [Member] | Fixed Management Fees [Member]
Related Party Transaction, Amounts of Transaction	$ 2,000,000					$ 2,000,000		$ 1,250,000
Eurobulk Ltd. [Member] | Fixed Management Fees [Member] | General and Administrative Expense [Member]
Related Party Transaction, Amounts of Transaction									2,000,000		1,344,250		1,561,126
First Debt Agreement [Member] | Colby Trading Ltd [Member]
Due to Related Parties, Total		$ 2,500,000
Debt Instrument, Interest Rate, Stated Percentage		8.00%
Repayments of Long-term Debt, Total		$ 625,000
Second Debt Agreement [Member] | Colby Trading Ltd [Member]
Due to Related Parties, Total															$ 2,500,000
Debt Instrument, Interest Rate, Stated Percentage															8.00%
Eurochart [Member] | Vessel Sales [Member]
Related Party Transaction Commission, Percentage							1.00%
Related Party Transaction, Expenses from Transactions with Related Party									153,750				64,500
Eurochart [Member] | Charter Revenues [Member]
Related Party Transaction Commission, Percentage							1.25%
Related Party Transaction, Expenses from Transactions with Related Party									504,892		493,341		453,361
Sentinel [Member]
Related Party Transaction, Expenses from Transactions with Related Party									$ 100,837		106,749		118,684
Related Party Transaction Commission on Premium, Maximum, Percentage									5.00%	5.00%
Technomar [Member]
Related Party Transaction, Expenses from Transactions with Related Party									$ 203,678		$ 142,332		$ 137,385
Related Party Transaction Amounts of Transaction Per Crew Member Per Month									$ 50

Note 8 - Long-term Bank Loans_2

Note 8 - Long-term Bank Loans (Details Textual)	Nov. 25, 2020USD ($)$ / sharesshares	Nov. 24, 2020USD ($)	Jun. 26, 2020USD ($)	May 15, 2020	Nov. 08, 2019USD ($)	Nov. 01, 2019USD ($)	Sep. 30, 2019USD ($)	Jul. 30, 2019USD ($)	Jul. 29, 2019USD ($)	May 30, 2019USD ($)	Nov. 21, 2018USD ($)	Aug. 31, 2019USD ($)	Dec. 31, 2020USD ($)	Sep. 30, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Oct. 16, 2020USD ($)	Nov. 16, 2020$ / shares	Jul. 29, 2020USD ($)	Jul. 07, 2020USD ($)
Number of Vessels Sold													5	5
Proceeds from Issuance of Long-term Debt, Total												$ 16,167,680
Gain (Loss) on Extinguishment of Debt, Total																$ (491,571)	$ (328,291)		$ (300,000)
Share Price (in dollars per share) | $ / shares	$ 3.37																			$ 3.40
Restricted Cash, Total													$ 2,245,010		$ 4,410,376	2,245,010	4,410,376
Interest Expense, Total																3,836,985	3,219,471	$ 2,703,845
Eurobank Ergasias S.A. [Member] | Revolving Loan Facility [Member]
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid			$ 7,125,000							$ 6,000,000
Debt Instrument, Deferred Amount			$ 1,125,000
Debt Instrument, Number of Periodic Payments, Deferred			3
Payments of Debt Issuance Costs										32,000
Proceeds from Issuance of Long-term Debt, Total										12,000,000
Security Deposit										$ 5,000,000					$ 1,000,000		$ 1,000,000
Debt Instrument, Number of Periodic Payments										16
Debt Instrument, Periodic Payment, Total										$ 375,000
Eurobank Ergasias S.A. [Member] | London Interbank Offered Rate (LIBOR) [Member] | Revolving Loan Facility [Member]
Debt Instrument, Basis Spread on Variable Rate										4.40%					3.90%
Eurobank Ergasias S.A. [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity											$ 45,000,000
Long-term Line of Credit, Total											$ 30,000,000
Long-term Debt, Term (Month)											1 year 180 days
Debt Instrument, Number of Quarterly Installment Payments											12
Debt Instrument, Periodic Payment, Total											$ 900,000		400,000
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid											19,200,000		12,150,000			$ 12,150,000
Line of Credit Facility, Remaining Borrowing Capacity											$ 7,350,000
Line of Credit Facility, Remaining Percent of Vessel Market Value to Finance											55.00%
Line of Credit Facility, Commitment Fee Percentage											0.40%
Line of Credit Facility, Underwriting Fee Percentage											1.00%
Debt Instrument, Deferred Amount			$ 2,700,000
Debt Instrument, Number of Periodic Payments, Deferred																3
Repayments of Long-term Debt, Total													$ 11,750,000
Payments of Debt Issuance Costs											$ 300,000
Debt Instrument, Covenant, Security Cover Ratio											140.00%
Eurobank Ergasias S.A. [Member] | Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate											4.40%						3.90%
Piraeus Bank S.A. [Member]
Line of Credit Facility, Maximum Borrowing Capacity									$ 4,000,000
Debt Instrument, Periodic Payment, Total									160,460
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid									1,742,160												$ 1,902,620
Debt Instrument, Deferred Amount																					$ 160,460
Payments of Debt Issuance Costs																	$ 32,000
Proceeds from Issuance of Long-term Debt, Total									$ 3,667,680
Debt Instrument, Number of Periodic Payments									12
Line of Credit Facility, Maximum Borrowing Amount, Percent of Scrap Value of Vessel									90.00%
Debt Instrument, Security Cover Ratio Covenant															110.00%		110.00%
Debt Instrument, Security Cover Ratio Covenant, After First Anniversary															120.00%		120.00%
Piraeus Bank S.A. [Member] | Second Debt Agreement [Member]
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid					$ 17,400,000																	$ 18,900,000
Debt Instrument, Deferred Amount																						$ 1,500,000
Payments of Debt Issuance Costs																	$ 352,000
Proceeds from Issuance of Long-term Debt, Total					$ 32,000,000
Debt Instrument, Security Cover Ratio Covenant					125.00%
Piraeus Bank S.A. [Member] | Second Debt Agreement, First Payments [Member]
Debt Instrument, Periodic Payment, Total					$ 1,400,000
Debt Instrument, Number of Periodic Payments					3
Piraeus Bank S.A. [Member] | Second Debt Agreement, Second Payments [Member]
Debt Instrument, Periodic Payment, Total					$ 800,000
Debt Instrument, Number of Periodic Payments					13
Piraeus Bank S.A. [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate								2.95%	3.50%
Piraeus Bank S.A. [Member] | London Interbank Offered Rate (LIBOR) [Member] | Second Debt Agreement [Member]
Debt Instrument, Basis Spread on Variable Rate					3.50%
HSBC Bank PLC [Member]
Debt Instrument, Periodic Payment, Total								$ 450,000
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid								6,200,000						$ 7,100,000
Debt Instrument, Deferred Amount														$ 900,000
Payments of Debt Issuance Costs																	62,500
Proceeds from Issuance of Long-term Debt, Total								$ 12,500,000
Debt Instrument, Number of Periodic Payments								14
Debt Instrument, Security Cover Ratio Covenant								130.00%
Colby Trading Ltd [Member]
Proceeds from Issuance of Long-term Debt, Total							$ 2,500,000
Debt Instrument, Number of Periodic Payments				3			4
Debt Instrument, Periodic Payment, Total							$ 625,000
Debt Instrument, Interest Rate, Stated Percentage							8.00%
Interest Expense, Debt, Total																$ 160,035	51,111
Gain (Loss) on Extinguishment of Debt, Total	$ (491,571)
Colby Trading Ltd [Member] | Conversion of Loan Into Common Shares [Member]
Debt Conversion, Original Debt, Amount		$ 1,875,000
Debt Conversion, Converted Instrument, Shares Issued (in shares) | shares	702,247
Debt Instrument, Convertible, Conversion Price (in dollars per share) | $ / shares	$ 2.67
Colby Trading Ltd [Member] | Second Debt Agreement [Member]
Proceeds from Issuance of Long-term Debt, Total						$ 2,500,000
Debt Instrument, Interest Rate, Stated Percentage						8.00%
Interest Expense, Debt, Total																$ 201,248	$ 33,333

Note 8 - Long-term Bank Loans -

Note 8 - Long-term Bank Loans - Summary of Long-term Debt (Details) - USD ($)		Dec. 31, 2020	Dec. 31, 2019
Long-term debt, gross		$ 67,301,300	$ 85,207,220
Less: Current portion		(20,891,840)	(12,541,840)
Long-term portion		46,409,460	72,665,380
Deferred charges, current portion		246,520	246,520
Deferred charges, long-term portion		189,432	477,595
Long-term bank loans, current portion net of deferred charges		20,645,320	12,295,320
Long-term bank loans, long-term portion net of deferred charges		46,220,028	72,187,785
Euroseas Ltd.		2,500,000	5,000,000
Joanna Maritime Ltd., Jonathan John Shipping Ltd., Corfu Navigation Ltd., Bridge Shipping Ltd, Noumea Shipping Ltd., Gregos Shiping Ltd. [Member]
Long-term debt, gross	[1]	24,625,000	37,650,000
Diamantis Shipowners Ltd. [Member]
Long-term debt, gross	[2]	3,026,300	3,507,220
Kea Shipowners Ltd. / Spetses Shipowners Ltd. / Hydra Shipowners Ltd. [Member]
Long-term debt, gross	[3]	11,150,000	12,050,000
Antwerp Shipping Ltd. / Busan Shipping Ltd. / Keelung Shipping Ltd. / Oakland Shipping Ltd. [Member]
Long-term debt, gross	[4]	$ 28,500,000	$ 32,000,000
[1]	On November 21, 2018, the Company signed a reducing revolving credit facility with Eurobank Ergasias S.A (the "Lender") for an amount of up to $45,000,000. A loan of $30,000,000 was drawn on November 21, 2018 by Alterwall Business Inc., Allendale Investments S.A., Manolis Shipping Ltd., Joanna Maritime Ltd., Jonathan John Shipping Ltd., Athens Shipping Ltd., Oinousses Navigation Ltd., Corfu Navigation Ltd. and Bridge Shipping Ltd. to fully refinance all of the Company's existing facilities with this bank and provide working capital. The revolving tranche was available for a period of 18 months from signing of the loan agreement for the purpose of partly financing new vessel acquisitions or providing working capital and can be renewed subject to the bank's approval and a fee to be determined. The loan is payable in 12 equal consecutive quarterly principal installments of $900,000 followed by a balloon amount of $19,200,000 to be paid together with the last principal installment in November 2021. The interest rate margin is 3.90% over LIBOR, reduced from 4.40% as described below. Each quarterly principal instalment paid is added to the revolving tranche and may be redrawn. The remaining $7,350,000 of the revolving facility, after including principal repayments up to December 31, 2019, remained available to the Company in order to finance up to 55% of the market value of post 2001-bulit ships. The undrawn amount available under the revolving facility paid an annual commitment of 0.40% and any amount drawn would pay a 1% underwriting fee. On June 26, 2020, the Lender signed with the borrower a second supplement letter according to which the undrawn committed amount under the abovementioned credit facility agreement was cancelled upon the borrower's request. Additionally, the Lender agreed to defer the amount of $2,700,000 (the remaining three installments of 2020) to be repaid together with the balloon payment in November 2021. Within the third and the fourth quarter of 2020 the Company sold five vessels used as collateral under the abovementioned credit facility agreement (M/V "Manolis P.", M/V "EM Oinousses", M/V "Kuo Hsiung", M/V "Ninos" and M/V "EM Athens"). An aggregate amount of $11,750,000 was prepaid and all aforementioned vessels were released from their mortgages. Following the above prepayment, the quarterly principal installments were reduced to $400,000 and the balloon payment was reduced to $12,150,000 with the repayment of the loan resuming in February 2021. Euroseas Ltd. and Subsidiaries Notes to consolidated financial statements as of December 31, 2019 and 2020 and for the Years ended December 31, 2018, 2019 and 2020 (All amounts expressed in U.S. Dollars) 8. Long-Term Bank Loans – continued The loan is secured with (i) first priority mortgages over M/V "Aegean Express", M/V "Joanna", M/V "EM Corfu" and M/V "Akinada Bridge", (ii) first assignment of earnings and insurance of the aforementioned vessels, (iii) a corporate guarantee of Euroseas Ltd. and other covenants and guarantees similar to the remaining loans of the Company. The Company has the option (at the Lender's absolute discretion) to substitute a mortgaged vessel by notifying the Lender in writing at least one month prior to the intended substitution date, provided that: a) the substitute vessel is of a similar type, of the same or younger age, having the same or enhanced characteristics (including, without limitation, deadweight, lightweight, shipyard pedigree and technical specifications) and will be 100% owned by a shipowning company, incorporated in a jurisdiction acceptable to the Lender and owned by a ship owning company owned by the Company (directly or indirectly) and b) the new shipowning company provides a first preferred mortgage over the new vessel and a corporate guarantee in favor of the Lender and executes any other security documentation as may be requested by the Lender at its discretion. The Company paid loan arrangement fees of $300,000 within 2018 for this tranche. On May 30, 2019, the Lender made available to the Company two new ship-related (M/V "EM Astoria" and M/V "Evridiki G") advances totaling $12.0 million or 55% of the aggregate market value of the two aforementioned vessels, with a simultaneous reduction of the margin of the loan, from 4.40% to 3.90% per annum. The Lender also agreed, during the remaining facility period, to reduce the amount held as cash collateral from $5.0 million to $1.0 million and release the balance in favor of the borrower. The loan was used to refinance the existing facilities of Noumea Shipping Ltd. and Gregos Shiping Ltd. and to provide working capital. The loan is payable in 16 equal consecutive quarterly principal installments of $375,000 followed by a balloon amount of $6,000,000 to be paid together with the last principal installment in May 2023. On June 26, 2020, the Lender agreed to defer the amount of $1,125,000 (the remaining three installments of 2020) to be repaid together with the balloon payment in May 2023, increasing the balloon amount to $7,125,000. The loan is secured with (i) first priority mortgages over M/V "Evridiki G" and M/V "EM Astoria", (ii) first assignment of earnings and insurance of the aforementioned vessels, (iii) a corporate guarantee of Euroseas Ltd. and other covenants and guarantees similar to the remaining loans of the Company. The Company paid a loan arrangement fee of $32,000 within 2019 for this tranche. The security cover ratio covenant for the facility is set to 140%.
[2]	On July 29, 2019, the Company signed a term loan facility with Piraeus Bank S.A. for an amount not exceeding the lesser between $4,000,000 and 90% of the scrap value of M/V "Diamantis P". On July 31, 2019, a loan of $3,667,680 was drawn by Diamantis Shipping Ltd. to partly finance the acquisition of M/V "Diamantis P". The loan is payable in twelve equal consecutive quarterly instalments of $160,460 plus a balloon amount of $1,742,160 to be paid together with the last instalment in July 2022. The margin of the loan is 3.50% over LIBOR. The loan is secured with (i) first priority mortgage over M/V "Diamantis P", (ii) first assignment of earnings and insurance of M/V "Diamantis P", (iii) a corporate guarantee of Euroseas Ltd. and other covenants and guarantees similar to remaining loans of the Company. The Company paid a loan arrangement fee of $32,000 within 2019 for this loan. The security cover ratio covenant for the facility is set to 110% until the first anniversary of the drawdown date and 120% thereafter. On July 29, 2020, the Company signed a supplemental agreement with Piraeus Bank S.A. under which it was agreed to defer the amount of $160,460, representing half of the installments of the third and the fourth quarter of 2020 to be repaid together with the balloon payment in July 2022, increasing the balloon amount to $1,902,620.
[3]	On July 30, 2019, the Company signed a term loan facility with HSBC Bank Plc. for an amount of $12,500,000. The loan was used to partly finance the acquisition of M/V "EM Hydra", M/V "EM Kea" and M/V "EM Spetses". The loan was drawn in tranches upon the delivery of each vessel to the Company with the last drawdown taking place on August 8, 2019. The loan is payable in fourteen consecutive equal quarterly installments of $450,000 plus a balloon payment of $6,200,000 to be paid together with the last instalment in February 2023. The loan bears interest at LIBOR plus a margin of 2.95%. The loan is secured with (i) first priority mortgages over M/V "EM Hydra", M/V "EM Kea" and M/V "EM Spetses" (ii) first assignment of earnings and insurance of the abovementioned vessels, (iii) a corporate guarantee of Euroseas Ltd. and other covenants and guarantees similar to the remaining loans of the Company. The Company paid loan arrangement fees of $62,500 within 2019 for this loan. The security cover ratio covenant for the facility is set to 130%. On September 30, 2020, the Company signed a supplemental agreement with HSBC Bank Plc. under which it was agreed to defer the amount of $900,000, representing the installments of the third and the fourth quarter of 2020, to be repaid together with the balloon payment in February 2023, increasing the balloon amount to $7,100,000.
[4]	On November 8, 2019, the Company signed a term loan facility with Piraeus Bank S.A. for an amount of $32,000,000. The loan was used to partly finance the acquisition of M/V "Synergy Antwerp", M/V "Synergy Busan", M/V "Synergy Keelung" and M/V "Synergy Oakland". The loan was drawn in tranches upon the delivery of each vessel to the Company with the last drawdown taking place on November 18, 2019. The loan is payable in three consecutive equal quarterly instalments of $1,400,000 followed by thirteen consecutive equal quarterly instalments of $800,000 and a balloon payment of $17,400,000 to paid together with the last instalment in November 2023. The loan bears interest at LIBOR plus a margin of 3.50%. The loan is secured with (i) first priority mortgages over M/V "Synergy Antwerp", M/V "Synergy Busan", M/V "Synergy Keelung" and M/V "Synergy Oakland" (ii) first assignment of earnings and insurance of the abovementioned vessels, (iii) a corporate guarantee of Euroseas Ltd. and other covenants and guarantees similar to the remaining loans of the Company. The Company paid loan arrangement fees of $352,000 within 2019 for this loan. The security cover ratio covenant for the facility is set to 125%. On July 7, 2020, the Company signed a supplemental agreement with Piraeus Bank S.A. under which it was agreed to defer the amount of $1,500,000 from the installments of the third and the fourth quarter of 2020, to be repaid together with the balloon payment in November 2023, increasing the balloon amount to $18,900,000. On September 30, 2019, Euroseas signed an agreement with Colby Trading Ltd. ("Colby"), a company controlled by the Pittas family and affiliated with the Company's Chief Executive Officer, as supplemented on December 20, 2019, March 30, 2020 and November 15, 2020, to draw down a $2.5 million loan to finance the special survey and WBT system installation on M/V "Akinada Bridge". Interest on the loan is 8% per annum and is payable quarterly. The loan was payable in four repayment instalments of a principal amount of $625,000 each. The first repayment instalment was paid on May 15, 2020 and the remaining three instalments, which were payable on a quarterly basis, were rescheduled to be paid at the maturity of the loan in March 2021.Under certain limited circumstances, the Company can pay principal in equity, and the loan is convertible in common stock of the Company at the option of the lender at certain times. The Company paid $51,111 and $160,035 on interest for the years ended December 31, 2019 and 2020, respectively. On November 24, 2020, Colby exercised its right to convert the outstanding balance of the loan of $1,875,000 into the Company's common shares as per the terms of the loan agreement. As a result, on November 25, 2020, the Company issued 702,247 shares to Colby. The conversion price was the lowest closing price over the fifteen business days prior to the conversion notice as per the terms of the loan, amounting to approximately $2.67 per share. The Company incurred a loss on the extinguishment of the above debt of $491,571, deriving from the difference between the conversion price and the closing price of the Company's common shares on the Nasdaq Capital Market on the date of issuance of approximately $3.37 per share. The specific amount is recorded under "Loss on debt extinguishment" in the consolidated statement of operations. Euroseas Ltd. and Subsidiaries Notes to consolidated financial statements as of December 31, 2019 and 2020 and for the Years ended December 31, 2018, 2019 and 2020 (All amounts expressed in U.S. Dollars) 8. Long-Term Bank Loans – continued On November 1, 2019, Euroseas signed a second agreement with Colby, as supplemented on November 15, 2020, to draw another $2.5 million loan to finance working capital needs. Interest on the loan is 8% per annum and is payable quarterly. This loan was fully repaid upon its maturity on March 31, 2021. The Company paid $33,333 and $201,248 on interest for this loan for the years ended December 31, 2019 and 2020, respectively.

Note 8 - Long-term Bank Loans_3

Note 8 - Long-term Bank Loans - Summary of Future Annual Loan Repayments for Long-term Debt (Details)	Dec. 31, 2020USD ($)
2021	$ 20,891,840
2022	8,884,460
2023	37,525,000
Total	$ 67,301,300

Note 9 - Income Taxes (Details

Note 9 - Income Taxes (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2020	Dec. 31, 2019
Effective United States Tax on U.S. Source Shipping	2.00%	4.00%	4.00%
Effective Tax on U.S. Source Shipping, Amount	$ 15,135

Note 10 - Commitments and Con_2

Note 10 - Commitments and Contingencies (Details Textual)	Nov. 16, 2020$ / sharesshares	Nov. 30, 2020shares	Dec. 31, 2023USD ($)	Dec. 31, 2022USD ($)	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Nov. 25, 2020$ / shares	Nov. 07, 2019USD ($)
Number of Vessels	4
Twenty Day Weighted Average Share Price (in dollars per share) | $ / shares	$ 3.09871
Share Price (in dollars per share) | $ / shares	$ 3.40						$ 3.37
Future Gross Minimum Revenues Under Non-cancellable Time Charter Agreements						$ 53,700,000
Forecast [Member]
Future Gross Minimum Revenues Under Non-cancellable Time Charter Agreements			$ 4,300,000	$ 9,200,000	$ 40,200,000
Synergy Holdings Limited [Member]
Stock Issued During Period, Shares, Contingent Consideration, Acquisition of Vessels (in shares) | shares	161,357	161,357
Purchase of Vessels [Member]
Cash Issued Per Vessel Purchased								$ 500,000
Alterwall Business Inc. Vs. Fuel Oil Supplier [Member] | Pending Litigation [Member] | Alterwall Business Inc. [Member]
Restricted Cash and Investments, Total						530,000
Estimated Litigation Liability						$ 150,000

Note 11 - Stock Incentive Pla_2

Note 11 - Stock Incentive Plan (Details Textual)	Nov. 05, 2020shares	Nov. 04, 2019shares	Nov. 21, 2018shares	Nov. 02, 2017shares	Jul. 31, 2014shares	Dec. 31, 2020USD ($)$ / sharesshares	Dec. 31, 2019USD ($)shares	Dec. 31, 2018USD ($)shares
Share-based Payment Arrangement, Expense | $						$ 121,631	$ 97,919	$ 124,487
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $						$ 143,878
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)						45,900	15,444	15,681
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period (in shares)						817	0	0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares						$ 8.39
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)						343 days
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other Than Options, Granted in Period, Fair Value | $						$ 124,389	$ 125,560	$ 134,232
The 2014 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)					75,000
Share Based Compensation Arrangement By Share Based Payment Awarded Term (Year)					10 years
The 2014 Plan [Member] | Restricted Stock [Member] | The 18 Key Persons [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)			15,681	12,534				15,681
Number of Key People Issued Awards			18	18
The 2014 Plan [Member] | Restricted Stock [Member] | The 18 Key Persons [Member] | Share-based Payment Arrangement, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage			50.00%	50.00%
The 2014 Plan [Member] | Restricted Stock [Member] | The 18 Key Persons [Member] | Share-based Payment Arrangement, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage				50.00%
The 2014 Plan [Member] | Restricted Stock [Member] | Officers and Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)	27,100	8,713	9,021	7,213
The 2014 Plan [Member] | Restricted Stock [Member] | Officers and Directors [Member] | Share-based Payment Arrangement, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage			50.00%
The 2014 Plan [Member] | Restricted Stock [Member] | Eurobulk Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)	18,800	6,731	6,660	5,321
The 2014 Plan [Member] | Restricted Stock [Member] | The 17 Key Persons [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)		15,444					15,444
Number of Key People Issued Awards		17
The 2014 Plan [Member] | Restricted Stock [Member] | The 17 Key Persons [Member] | Share-based Payment Arrangement, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage		50.00%
The 2014 Plan [Member] | Restricted Stock [Member] | The 17 Key Persons [Member] | Share-based Payment Arrangement, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage		50.00%
The 2014 Plan [Member] | Restricted Stock [Member] | The 16 Key Persons [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)	45,900
Number of Key People Issued Awards	16
The 2014 Plan [Member] | Restricted Stock [Member] | The 16 Key Persons [Member] | Share-based Payment Arrangement, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	50.00%
The 2014 Plan [Member] | Restricted Stock [Member] | The 16 Key Persons [Member] | Share-based Payment Arrangement, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	50.00%

Note 11 - Stock Incentive Pla_3

Note 11 - Stock Incentive Plan - Summary of the Status of the Company's Non-vested Shares (Details) - Restricted Stock [Member] - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Non-vested (in shares)	23,284	21,948	17,545
Non-vested, weighted average grant date fair value (in dollars per share)	$ 8.28	$ 10.16	$ 12.80
Granted (in shares)	45,900	15,444	15,681
Granted, weighted average grant date fair value (in dollars per share)	$ 2.71	$ 8.13	$ 8.56
Vested (in shares)	(15,064)	(14,108)	(11,278)
Vested, weighted average grant date fair value (in dollars per share)	$ 8.34	$ 11.01	$ 12.16
Non-vested (in shares)	53,303	23,284	21,948
Non-vested, weighted average grant date fair value (in dollars per share)	$ 3.46	$ 8.28	$ 10.16
Forfeited (in shares)	(817)	0	0
Forfeited, weighted average grant date fair value (in dollars per share)	$ 8.39

Note 12 - Earnings (Loss) Per_3

Note 12 - Earnings (Loss) Per Share (Details Textual) - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Weighted Average Number of Shares Outstanding, Diluted, Total (in shares)	0	0	0
Unvested Incentive Award Shares [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	53,303	23,284	21,948
Series B Preferred Shares [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	8,365	8,000	19,605

Note 12 - Earnings (Loss) Per_4

Note 12 - Earnings (Loss) Per Share - Summary of Basic and Diluted Loss Per Common Share (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Net (loss) / income, continuing operations	$ 4,041,431	$ (1,682,671)	$ (663,396)
Dividends to Series B preferred shares	(693,297)	(1,271,782)	(1,335,733)
Preferred deemed dividend		(504,577)
Net (loss) / income attributable to common shareholders, continuing operations	$ 3,348,134	$ (3,459,030)	$ (1,999,129)
Weighted average common shares –outstanding, basic and diluted (in shares)	5,753,917	2,861,928	1,414,775
Basic and diluted (loss) / earnings per share, continuing operations (in dollars per share)	$ 0.58	$ (1.21)	$ (1.41)
Net income attributable to common shareholders, discontinued operations			$ 554,506
Net (loss) / income attributable to common shareholders	$ 3,348,134	$ (3,459,030)	$ (1,444,623)
Basic and diluted (loss) / earnings per share (in dollars per share)	$ 0.58	$ (1.21)	$ (1.02)
Series B Preferred Stock [Member]
Dividends to Series B preferred shares	$ (693,297)	$ (1,271,782)	$ (1,335,733)

Note 13 - Voyage and Vessel O_3

Note 13 - Voyage and Vessel Operating Expenses - Summary of Voyage, Vessel, Operating Expenses and Commissions (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Voyage expenses	$ 1,334,259	$ 1,055,408	$ 1,261,088
Vessel operating expenses	32,219,689	23,983,282	19,986,170
Port Charges and Canal Dues [Member]
Voyage expenses	451,586	251,197	384,893
Bunkers [Member]
Voyage expenses	882,673	804,211	876,195
Crew Wages and Related Costs [Member]
Vessel operating expenses	17,866,847	13,111,682	11,020,924
Insurance [Member]
Vessel operating expenses	2,947,937	1,844,088	1,537,539
Repairs and Maintenance [Member]
Vessel operating expenses	1,316,864	1,110,995	1,043,632
Lubricants [Member]
Vessel operating expenses	2,609,647	2,029,230	1,665,849
Spares and Consumable Stores [Member]
Vessel operating expenses	6,245,518	4,758,290	3,445,422
Professional and Legal Fees [Member]
Vessel operating expenses	255,948	259,311	252,156
Other Vessel Operating Expenses [Member]
Vessel operating expenses	$ 976,928	$ 869,686	$ 1,020,648

Note 14 - Derivative Financia_3

Note 14 - Derivative Financial Instruments (Details Textual)	1 Months Ended
	Dec. 31, 2017USD ($)	Dec. 31, 2020USD ($)	Apr. 16, 2020USD ($)	Nov. 28, 2017	Nov. 28, 2016	Oct. 17, 2014USD ($)
Interest Rate Swap [Member]
Derivative, Number of Instruments Held, Total		1
Derivative, Notional Amount		$ 30,000,000
Interest Rate Swap [Member] | Eurobank [Member]
Derivative, Number of Instruments Held, Total						1
Derivative, Notional Amount			$ 30,000,000			$ 10,000,000
Derivative, Average Fixed Interest Rate						1.97%
Derivative, Fixed Interest Rate			0.78%	3.55%	0.95%	0.50%
Freight Forward Agreements [Member]
Derivative, Number of Instruments Held, Total	3
Charter Equivalent Rate Per Day	$ 11,000

Note 14 - Derivative Financia_4

Note 14 - Derivative Financial Instruments - Derivatives Not Designated as Hedging Instruments by Account Type (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Interest rate swap contract	$ 203,553
Interest rate swap contract	362,195
Total derivative liabilities	$ 565,748

Note 14 - Derivative Financia_5

Note 14 - Derivative Financial Instruments - Gain or Loss on Derivatives Not Designated as Hedging Instruments (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Total net gain / (loss) on derivatives	$ (587,988)	$ (2,885)	$ (44,343)
Not Designated as Hedging Instrument [Member] | Interest Rate Swap Contracts, Fair Value [Member]
Total net gain / (loss) on derivatives		587,988	(2,885)
Not Designated as Hedging Instrument [Member] | Freight Forward Agreements, Unrealized Gain (Loss) [Member]
Total net gain / (loss) on derivatives
Not Designated as Hedging Instrument [Member] | Freight Forward Agreements, Realized Gain (Loss) [Member]
Total net gain / (loss) on derivatives			(47,245)
Not Designated as Hedging Instrument [Member] | Freight Forward Agreements [Member]
Total net gain / (loss) on derivatives			$ (47,245)

Note 15 - Preferred Shares (Det

Note 15 - Preferred Shares (Details Textual) - USD ($)	Jan. 29, 2021	Jun. 10, 2019	Jan. 29, 2019	May 30, 2018	Jan. 27, 2014	Dec. 31, 2020	Dec. 31, 2019		Dec. 31, 2018
Preferred Stock, Value, Distributed									$ 18,192,131
Preferred Stock Distributed (in shares)									19,042
Payments for Repurchase of Redeemable Preferred Stock							$ 11,686,000
Dividends, Paid-in-kind, Total						365,059	78,640		1,335,733
Dividends, Preferred Stock, Total						693,297	1,271,782	[1]	1,335,733	[1]
Dividends, Preferred Stock, Cash						150,000
Dividends Payable						170,000
Preferred Stock, Redemption Amount						8,365,059
Series B Preferred Stock [Member]
Proceeds from Issuance of Convertible Preferred Stock					$ 29,000,000
Preferred Stock, Redemption Price Per Share (in dollars per share)					$ 1,000
Preferred Stock, Dividend Rate, Percentage		4.00%
Preferred Stock Additional Cash Dividend Under Specified Conditions Percentage					40.00%
Convertible Preferred Stock, Conversion Price Per Share (in dollars per share)					$ 15.58
Payments for Repurchase of Redeemable Preferred Stock		$ 11,700,000
Percentage of Outstanding Preferred Stock Redeemed		59.40%
Preferred Stock, Value, Outstanding		$ 8,000,000
Preferred Stock Deemed Dividend							504,577
Dividends, Paid-in-kind, Total							80,000		1,340,000
Dividends, Preferred Stock, Total							1,270,000
Dividends, Preferred Stock, Cash							1,030,000
Dividends Payable							$ 160,000
Preferred Stock Voting Percentage of Number of Shares Convertible of Common Stock							50.00%
Series B Preferred Stock [Member] | Subsequent Event [Member]
Preferred Stock, Dividend Rate, Percentage	14.00%
Payments for Repurchase of Redeemable Preferred Stock	$ 2,000,000
Series B Preferred Stock [Member] | Maximum [Member] | First Five Years [Member]
Preferred Stock, Dividend Rate, Percentage					5.00%
Series B Preferred Stock [Member] | Maximum [Member] | Next Two Years [Member]
Preferred Stock, Dividend Rate, Percentage			12.00%
Series B Preferred Stock [Member] | Maximum [Member] | After Two Years [Member]
Preferred Stock, Dividend Rate, Percentage			14.00%
Ordinary Preferred Stock [Member]
Preferred Stock, Value, Distributed									14,500,000
Preferred Stock Issued as Dividends [Member]
Preferred Stock, Value, Distributed									3,692,131
TCP [Member] | Series B Preferred Stock [Member]
Stock Issued During Period, Shares, New Issues (in shares)					25,000
Friends Investment Company Inc. [Member] | Series B Preferred Stock [Member]
Stock Issued During Period, Shares, New Issues (in shares)					5,700
Eurodry [Member]
Percentage of Preferred Stock Outstanding							50.00%
Preferred Stock, Value, Distributed									$ 18,192,131
Common Stock, Value, Distributed				$ 2,254,830
Eurodry [Member] | Series B Preferred Stock [Member]
Preferred Stock Distributed (in shares)				19,042
Eurodry [Member] | Ordinary Preferred Stock [Member]
Preferred Stock, Value, Distributed				$ 14,500,000
Eurodry [Member] | Preferred Stock Issued as Dividends [Member]
Preferred Stock, Value, Distributed				$ 3,692,131
[1]	Adjusted to reflect the 1-for-8 reverse stock split effected at the close of trading on December 18, 2019.

Note 15 - Preferred Shares - Di

Note 15 - Preferred Shares - Dividends Series B Preferred Shares (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Balance (in shares)	8,000	19,605	37,314
Balance	$ 7,654,577	$ 18,757,361	$ 35,613,759
Dividends declared (in shares)	365	81	1,333
Dividends declared	$ 365,059	$ 78,639	$ 1,335,733
Shares distributed to EuroDry (in shares)			(19,042)
Shares distributed to EuroDry			$ (18,192,131)
Redemption of shares (in shares)		(11,686)
Redemption of shares		$ (11,686,000)
Preferred deemed dividend		$ 504,577
Balance (in shares)	8,365	8,000	19,605
Balance	$ 8,019,636	$ 7,654,577	$ 18,757,361
Ordinary Preferred Stock [Member]
Balance	6,849,522	14,500,000	29,000,000
Dividends declared
Shares distributed to EuroDry			(14,500,000)
Redemption of shares		(8,155,055)
Preferred deemed dividend		504,577
Balance	6,849,522	6,849,522	14,500,000
Preferred Stock Issued as Dividends [Member]
Balance	805,055	4,257,361	6,613,759
Dividends declared	365,059	78,639	1,335,733
Shares distributed to EuroDry			(3,692,131)
Redemption of shares		(3,530,945)
Preferred deemed dividend
Balance	$ 1,170,114	$ 805,055	$ 4,257,361

Note 16 - Financial Instrumen_3

Note 16 - Financial Instruments (Details Textual)	6 Months Ended	9 Months Ended	12 Months Ended			22 Months Ended
	Jun. 30, 2020USD ($)	Sep. 30, 2020USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Oct. 16, 2020USD ($)	Jun. 15, 2017USD ($)
Gain (Loss) on Extinguishment of Debt, Total			$ (491,571)	$ (328,291)		$ (300,000)
M/V Monika P. [Member]
Profit Sharing Agreement, Percentage							35.00%
Vessel Profit Participation Liability, Noncurrent					$ 1,067,500		$ 950,000
M/V EM Oinousses [Member]
Assets Held-for-sale, Not Part of Disposal Group, Current, Total	$ 3,770,000	$ 3,800,000
Property, Plant, and Equipment, Fair Value Disclosure	3,870,000
Vessel Held for Sale, Estimated Sale Costs	220,000
Impairment of Long-Lived Assets to be Disposed of	$ 120,000	$ 100,000
Interest Rate Swap [Member]
Derivative, Number of Instruments Held, Total			1
Derivative, Notional Amount			$ 30,000,000

Note 16 - Financial Instrumen_4

Note 16 - Financial Instruments - Fair Value of Company's Liabilities (Details)	Dec. 31, 2020USD ($)
Interest Rate Swap, Current Portion [Member]
Interest rate swap contract	$ 203,553
Interest Rate Swap, Current Portion [Member] | Fair Value, Inputs, Level 1 [Member]
Interest rate swap contract
Interest Rate Swap, Current Portion [Member] | Fair Value, Inputs, Level 2 [Member]
Interest rate swap contract	203,553
Interest Rate Swap, Current Portion [Member] | Fair Value, Inputs, Level 3 [Member]
Interest rate swap contract
Interest Rate Swap, Long-term Portion [Member]
Interest rate swap contract	362,195
Interest Rate Swap, Long-term Portion [Member] | Fair Value, Inputs, Level 1 [Member]
Interest rate swap contract
Interest Rate Swap, Long-term Portion [Member] | Fair Value, Inputs, Level 2 [Member]
Interest rate swap contract	362,195
Interest Rate Swap, Long-term Portion [Member] | Fair Value, Inputs, Level 3 [Member]
Interest rate swap contract

Note 17 - Discontinued Operat_3

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

Note 17 - Discontinued Operat_4

Note 17 - Discontinued Operations - Results of Discontinued Operations (Details) - Drybulk Fleet [Member] - Discontinued Operations, Disposed of by Means Other than Sale, Spinoff [Member] - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Voyage revenue			$ 25,934,204
Commissions (including $324,178, nil and nil respectively, to related party)			(1,411,333)
Voyage expenses			(410,676)
Vessel operating expenses (including $115,026, nil and nil, respectively, to related party)			(9,183,152)
Drydocking expenses			(1,465,079)
Related party management fees			(1,701,340)
Vessel depreciation			(5,422,155)
General and administrative expenses (including $731,456,nil and nil, respectively, to related party)			(2,346,502)
Operating income			3,993,967
Total other expenses, net			(2,874,232)
Net income			1,119,735
Dividend Series B Preferred Shares			(565,229)
Net income attributable to common shareholders			$ 554,506

Note 17 - Discontinued Operat_5

Note 17 - Discontinued Operations - Results of Discontinued Operations (Details) (Parentheticals) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Drybulk Fleet [Member]
General and administrative expenses, related party			$ 731,456
Discontinued Operations, Disposed of by Means Other than Sale, Spinoff [Member]
Commissions - related party			324,178
Vessel operating expenses - related party			$ 115,026

Note 18 - Common Stock (Details

Note 18 - Common Stock (Details Textual)		Nov. 24, 2020USD ($)shares	Nov. 16, 2020shares	Dec. 19, 2019	Dec. 18, 2019	Nov. 04, 2019shares	Nov. 21, 2018shares	Nov. 02, 2017shares	Nov. 30, 2020shares	Aug. 31, 2020USD ($)	Nov. 30, 2019USD ($)shares	Oct. 31, 2019USD ($)shares	Sep. 30, 2019USD ($)	Aug. 30, 2019shares	Nov. 30, 2018USD ($)shares	Dec. 31, 2020USD ($)$ / sharesshares	Dec. 31, 2019USD ($)$ / sharesshares	Dec. 31, 2018USD ($)shares	Mar. 31, 2020$ / sharesshares
Common Stock, Shares Authorized (in shares) | shares																200,000,000	200,000,000		200,000,000
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares																$ 0.03	$ 0.03		$ 0.03
Proceeds from Issuance of Common Stock																$ 715,550	$ 6,853,101	$ 1,975,110
Stock Issued During Period, Value, Vessel Acquisition	[1]																13,218,662
Stock Issued During Period, Value, New Issues	[1]															496,718	775,532	1,865,110
Proceeds from Related Party Debt																	$ 5,000,000
Conversion of Loan Into Common Shares [Member] | Colby Trading Ltd [Member]
Debt Conversion, Original Debt, Amount		$ 1,875,000
Debt Conversion, Converted Instrument, Shares Issued (in shares) | shares		702,247
Colby Trading Ltd [Member]
Proceeds from Related Party Debt													$ 2,500,000
Synergy Holdings Limited [Member]
Stock Issued During Period, Shares, Contingent Consideration, Acquisition of Vessels (in shares) | shares			161,357						161,357
Reverse Stock Split [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio				8	8
Directors, Officers, and Employees [Member]
Stock Issued During Period, Shares, Restricted Stock Award, Gross (in shares) | shares																45,900
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | shares																45,900	15,444	15,681
The 2014 Plan [Member] | Restricted Stock [Member] | The 18 Key Persons [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | shares							15,681	12,534										15,681
The 2014 Plan [Member] | Restricted Stock [Member] | The 17 Key Persons [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | shares						15,444											15,444
ATM Common Stock Offering [Member]
Stock Issued During Period, Shares, New Issues (in shares) | shares												144,727			139,509
Proceeds from Issuance of Common Stock												$ 900,000			$ 2,000,000
M/V “EM Hydra”, M/V “EM Spetses”, M/V“EM Kea” and M/V “Diamantis P” [Member]
Stock Issued During Period, Shares, Vessel Acquisition (in shares) | shares														2,816,901
Private Placement [Member]
Stock Issued During Period, Shares, Vessel Acquisition (in shares) | shares											1,056,338
Stock Issued During Period, Value, Vessel Acquisition											$ 6,000,000
Stock Issued During Period, Value, New Issues	[1]																$ 6,000,000
ATM [Member]
Proceeds from Issuance of Common Stock										$ 700,000
Stock Issued During Period, Value, New Issues										$ 200,000
[1]	Adjusted to reflect the 1-for-8 reverse stock split effected at the close of trading on December 18, 2019.

Note 19 - Other Operating Inc_2

Note 19 - Other Operating Income (Details Textual) - M/V EM Oinousses [Member] - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	Jan. 31, 2020	Dec. 31, 2020
Vessel Evaluation, Unrepaired Damage Claim	$ 2.7
Vessel Evaluation, Damage Repair Paid		$ 2.3
Vessel Evaluation, Receivable		0.7
Vessel Evaluation, General Average Claim		0.3
Other Operating Income [Member]
Vessel Evaluation, Other Operating Income		$ 2.7

Note 20 - Subsequent Events (De

Note 20 - Subsequent Events (Details Textual) - USD ($)	Jan. 29, 2021	Jun. 10, 2019	Feb. 28, 2021	Oct. 31, 2019	Nov. 30, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jan. 29, 2023	Jan. 29, 2022
Payments for Repurchase of Redeemable Preferred Stock							$ 11,686,000
Proceeds from Issuance of Common Stock						$ 715,550	$ 6,853,101	$ 1,975,110
ATM Common Stock Offering [Member]
Stock Issued During Period, Shares, New Issues (in shares)				144,727	139,509
Proceeds from Issuance of Common Stock				$ 900,000	$ 2,000,000
Forecast [Member]
Preferred Stock, Dividends Rate Per Annum (Rate)									14.00%	9.00%
Subsequent Event [Member]
Preferred Stock, Dividends Rate Per Annum (Rate)	8.00%
Subsequent Event [Member] | ATM Common Stock Offering [Member]
Stock Issued During Period, Shares, New Issues (in shares)			82,901
Proceeds from Issuance of Common Stock			$ 740,000
Series B Preferred Stock [Member]
Payments for Repurchase of Redeemable Preferred Stock		$ 11,700,000
Series B Preferred Stock [Member] | Subsequent Event [Member]
Stock Redeemed or Called During Period, Shares (in shares)	2,000
Payments for Repurchase of Redeemable Preferred Stock	$ 2,000,000