Euroseas (ESEA) 20-F 22 Apr 22 2021 FY Annual report (foreign) Financial data

Document And Entity Information

Document And Entity Information	12 Months Ended
	Dec. 31, 2021shares
Document Information [Line Items]
Entity Central Index Key	0001341170
Entity Registrant Name	EUROSEAS LTD.
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2021
Document Type	20-F
Document Annual Report	true
Document Period End Date	Dec. 31, 2021
Document Transition Report	false
Entity File Number	001-33283
Entity Incorporation, State or Country Code	1T
Entity Address, Address Line One	4 Messogiou & Evropis Street
Entity Address, Postal Zip Code	151 24
Entity Address, City or Town	Maroussi
Entity Address, Country	GR
Title of 12(b) Security	Common shares, $0.03 par value
Trading Symbol	ESEA
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding	7,294,541
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Document Accounting Standard	U.S. GAAP
Auditor Name	Deloitte Certified Public Accountants S.A.
Auditor Location	Athens, Greece
Auditor Firm ID	1163
Document Shell Company Report	false
Document Registration Statement	false
Business Contact [Member]
Document Information [Line Items]
Entity Address, Address Line One	11 Canterbury Lane
Entity Address, Postal Zip Code	07069
Entity Address, City or Town	Watchung
City Area Code	908
Local Phone Number	301-9091
Entity Address, State or Province	NJ
Contact Personnel Name	Tasos Aslidis

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)		Dec. 31, 2021	Dec. 31, 2020
Current assets
Cash and cash equivalents		$ 26,530,944	$ 3,559,399
Restricted cash		167,285	345,010
Trade accounts receivable, net		1,274,729	2,013,023
Other receivables		1,722,885	1,866,624
Inventories		2,274,454	1,662,422
Prepaid expenses		382,729	244,315
Derivatives		540,753	0
Total current assets		32,893,779	9,690,793
Long-term assets:
Vessels, net		176,111,486	98,458,447
Advances for vessels under construction		7,615,958	0
Restricted cash		4,800,000	2,433,768
Total assets		221,421,223	110,583,008
Current liabilities
Long-term bank loans, current portion		29,034,049	20,645,320
Related party loan, current	[1]	0	2,500,000
Trade accounts payable		2,804,194	2,854,377
Accrued expenses		1,702,925	1,300,420
Accrued preferred dividends		0	168,676
Deferred revenues		3,293,986	949,364
Due to related company		309,970	24,072
Derivative		0	203,553
Total current liabilities		37,145,124	28,645,782
Long-term liabilities
Long-term bank loans, net of current portion		89,004,951	46,220,028
Derivatives		952,666	362,195
Fair value of below market time charters acquired		17,461,586	0
Total long-term liabilities		107,419,203	46,582,223
Total liabilities		144,564,327	75,228,005
Commitments and contingencies
Mezzanine Equity
Preferred shares (par value $0.01, 20,000,000 shares authorized, 8,365 and nil issued and outstanding, respectively)		0	8,019,636
Shareholders’ equity
Common stock (par value $0.03, 200,000,000 shares authorized, 6,708,946 and 7,294,541 issued and outstanding)		218,836	201,268
Additional paid-in capital		264,609,233	257,467,980
Accumulated deficit		(187,971,173)	(230,333,881)
Total shareholders’ equity		76,856,896	27,335,367
Total liabilities, mezzanine equity and shareholders’ equity		$ 221,421,223	$ 110,583,008
[1]	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 and March 30, 2020, to draw down a $2.5 million loan to finance the special survey and WBT system installation on M/V “Akinada Bridge”. Interest on the loan was 8% per annum and was payable quarterly. The loan was payable in four repayment installments of a principal amount of $625,000 each, maturing by November 2020. The first repayment instalment was paid on May 15, 2020 and the remaining three installments, which were payable on a quarterly basis, were rescheduled to be paid at the maturity of the loan in November 2020. Under certain limited circumstances, the Company could pay principal in equity, and the loan was 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 was recorded under “Loss on debt extinguishment” in the consolidated statement of operations for the year ended December 31, 2020. 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 was 8% per annum and was payable quarterly. This loan was fully repaid upon its maturity on March 31, 2021. The Company paid $33,333, $201,248 and $50,000 on interest for this loan for the years ended December 31, 2019, 2020 and 2021, respectively.

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares	Dec. 31, 2021	Dec. 31, 2020
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)	0	8,365
Preferred stock, shares outstanding (in shares)	0	8,365
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)	7,294,541	6,708,946
Common stock, shares outstanding (in shares)	7,294,541	6,708,946

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Time charter revenue	$ 97,977,389	$ 55,681,124	$ 41,769,278
Commissions (including $493,341, $504,892 and $1,075,274, respectively, to related party)	(4,085,717)	(2,378,007)	(1,745,599)
Net revenue	93,891,672	53,303,117	40,023,679
Operating expenses/ (income)
Voyage expenses	624,734	1,334,259	1,055,408
Vessel operating expenses (including $249,081, $304,515 and $233,635, respectively, to related party)	29,739,437	32,219,689	23,983,282
Dry-docking expenses	4,094,693	536,199	2,714,662
Vessel depreciation	7,203,198	6,605,976	4,178,886
Related party management fees	4,294,789	5,293,199	3,671,335
General and administrative expenses (including $1,344,250, $2,000,000 and $2,460,000, respectively, to related party)	3,491,120	3,041,435	2,444,495
Net (gain) / loss on sale of vessels (including $0, $153,750 and $0, respectively, to related party)	9,417	(2,453,736)	0
Other operating income	(1,298,318)	(2,687,205)	0
Loss on write-down of vessel held for sale	0	121,165	0
Total operating expenses, net	48,159,070	44,010,981	38,048,068
Operating income	45,732,602	9,292,136	1,975,611
Other (expenses)/ income
Interest and other financing costs (including $84,444, $361,283 and $50,000, respectively, to related party)	(2,779,729)	(4,125,150)	(3,424,969)
Loss on debt extinguishment	0	(491,571)	(328,291)
Loss on derivatives, net	(27,141)	(587,988)	(2,885)
Foreign exchange gain / (loss)	34,418	(63,007)	2,024
Interest income	3,510	17,011	95,839
Other expenses, net	(2,768,942)	(5,250,705)	(3,658,282)
Net (loss) / income	42,963,660	4,041,431	(1,682,671)
Dividends to Series B preferred shares	(255,324)	(693,297)	(1,271,782)
Preferred deemed dividend	(345,628)	0	(504,577)
Net (loss) / income attributable to common shareholders	$ 42,362,708	$ 3,348,134	$ (3,459,030)
Weighted average number of shares outstanding during the year, basic (in shares)	6,976,905	5,753,917	2,861,928
(Loss) / earnings per share attributable to common shareholders - basic (in dollars per share)	$ 6.07	$ 0.58	$ (1.21)
Weighted average number of shares outstanding during the year, diluted (in shares)	6,993,405	5,753,917	2,861,928
(Loss) / earnings per share attributable to common shareholders - diluted (in dollars per share)	$ 6.06	$ 0.58	$ (1.21)

Consolidated Statements of Op_2

Consolidated Statements of Operations (Parentheticals) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Commissions, related party	$ 1,075,274	$ 504,892	$ 493,341
Vessel operating expenses, related party	233,635	304,515	249,081
General and administrative expenses, related party	2,460,000	2,000,000	1,344,250
Net gain on sale of vessels, related party	0	153,750	0
Interest and other financing costs, related party	$ 50,000	$ 361,283	$ 84,444

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($)		Private Placement [Member]Common Stock [Member]	Private Placement [Member]Additional Paid-in Capital [Member]	[1]	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, 2018							1,564,456
Balance at Dec. 31, 2018							$ 46,934		$ 233,996,669	[1]	$ (230,222,985)	$ 3,820,618
Net (loss) / income							0		0	[1]	(1,682,671)	(1,682,671)
Dividends to Series B preferred shares							0		0	[1]	(1,271,782)	(1,271,782)
Preferred deemed dividend							$ 0		0	[1]	(504,577)	(504,577)
Issuance of shares (in shares)		1,056,338					144,727
Issuance of shares		$ 31,690	$ 5,968,310		$ 0	$ 6,000,000	$ 4,342		771,190	[1]	0	775,532
Issuance of restricted shares for stock incentive award and share-based compensation (in shares)							15,444
Issuance of restricted shares for stock incentive award and share-based compensation							$ 463		97,456	[1]	0	97,919
Shares issued in connection with acquisition of vessels (in shares)							2,816,901
Shares issued in connection with acquisition of vessels							$ 84,507		13,134,155	[1]	0	13,218,662
Rounding of stock split (in shares)							2,393
Rounding of stock split							$ 72		(72)	[1]	0	0
Balance (in shares) at Dec. 31, 2019							5,600,259
Balance at Dec. 31, 2019							$ 168,008		253,967,708	[1]	(233,682,015)	20,453,701
Net (loss) / income							0		0	[1]	4,041,431	4,041,431
Dividends to Series B preferred shares							$ 0		0	[1]	(693,297)	(693,297)
Issuance of shares (in shares)							200,000
Issuance of shares							$ 6,000		490,718	[1]	0	496,718
Issuance of restricted shares for stock incentive award and share-based compensation (in shares)							45,900
Issuance of restricted shares for stock incentive award and share-based compensation							$ 1,377		120,254	[1]	0	121,631
Issuance of shares in connection with related party loan converted to equity (in shares)							702,247
Issuance of shares in connection with related party loan converted to equity							$ 21,067		2,345,504	[1]	0	2,366,571
Issuance of shares for contingent consideration in connection with acquisition of vessels (Note 5) (in shares)							161,357
Issuance of shares for contingent consideration in connection with acquisition of vessels (Note 5)							$ 4,841		543,771	[1]	0	548,612
Shares forfeited (in shares)							(817)
Shares forfeited							$ (25)		25	[1]	0	0
Balance (in shares) at Dec. 31, 2020	[1]						6,708,946
Balance at Dec. 31, 2020							$ 201,268	[1]	257,467,980	[1]	(230,333,881)	27,335,367
Net (loss) / income							0	[1]	0		42,963,660	42,963,660
Dividends to Series B preferred shares							0	[1]	0		(255,324)	(255,324)
Preferred deemed dividend							$ 0	[1]	0		(345,628)	(345,628)
Issuance of shares (in shares)	[1]						82,901
Issuance of shares							$ 2,487	[1]	608,746		0	611,233
Issuance of restricted shares for stock incentive award and share-based compensation (in shares)	[1]						49,650
Issuance of restricted shares for stock incentive award and share-based compensation							$ 1,490	[1]	180,834		0	182,324
Issuance of shares in connection with related party loan converted to equity (in shares)	[1]						453,044
Issuance of shares in connection with related party loan converted to equity							$ 13,591	[1]	6,351,673		0	6,365,264
Balance (in shares) at Dec. 31, 2021	[1]						7,294,541
Balance at Dec. 31, 2021							$ 218,836	[1]	$ 264,609,233		$ (187,971,173)	$ 76,856,896
[1]	Adjusted to reflect the 1-for-8 reverse stock split effected at the close of trading on December 18, 2019.

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities:
Net (loss) / income	$ 42,963,660	$ 4,041,431	$ (1,682,671)
Adjustments to reconcile net (loss) / income to net cash provided by operating activities:
Vessel depreciation	(7,203,198)	(6,605,976)	(4,178,886)
Gain on hull & machinery claim	0	(2,687,205)	0
Loss on write-down of vessel held for sale	0	121,165	0
Amortization and write off of deferred charges	223,492	288,163	205,590
Amortization of debt discount	0	0	95,214
Net (gain) / loss on sale of vessels	9,417	(2,453,736)	0
Amortization of fair value of below market time charters acquired	(230,112)	(1,714,370)	(857,945)
Share-based compensation	182,324	121,631	97,919
Change in the fair value of derivatives	(153,835)	565,748	(41,435)
Loss on debt extinguishment	0	491,571	328,291
Trade accounts receivable	738,294	(1,297,926)	243,608
Prepaid expenses	(138,414)	282,216	(304,195)
Other receivables	143,739	47,479	460,909
Inventories	(612,032)	226,742	(184,773)
Due to related company	285,898	(771,490)	(1,877,333)
Trade accounts payable	(740,664)	(1,008,707)	1,539,553
Accrued expenses	393,352	(424,901)	482,671
Deferred revenues	2,344,622	(24,410)	556,140
Net cash provided by operating activities	52,612,939	2,409,377	3,240,429
Cash flows from investing activities:
Cash paid for vessels under construction	(7,615,958)	0	0
Cash paid for capitalized expenses and acquisition of vessels including attached time charter agreements	(66,474,058)	(647,069)	(55,720,226)
Insurance proceeds	0	2,343,606	0
Net proceeds from sale of vessels	(9,417)	14,622,770	0
Net cash (used in) / provided by investing activities	(74,099,433)	16,319,307	(55,720,226)
Cash flows from financing activities:
Redemption of Series B preferred shares	(2,000,000)	0	(11,686,000)
Proceeds from issuance of common stock, net of commissions paid	743,553	715,550	6,853,101
Preferred dividends paid	(424,000)	(320,877)	(1,031,827)
Offering expenses paid	(123,167)	(184,321)	(136,724)
Loan arrangement fees paid	(758,000)	0	(566,500)
Proceeds from long-term bank loans	75,500,000	0	60,167,680
Repayment of long-term bank loans and vessel profit participation liability	(23,791,840)	(17,905,920)	(13,401,460)
Proceeds from related party loan	0	0	5,000,000
Repayment of related party loan	(2,500,000)	(625,000)	0
Net cash provided by / (used in) financing activities	46,646,546	(18,320,568)	45,198,270
Net (decrease) / increase in cash, cash equivalents and restricted cash	25,160,052	408,116	(7,281,527)
Cash, cash equivalents and restricted cash at beginning of year	6,338,177	5,930,061	13,211,588
Cash, cash equivalents and restricted cash at end of year	31,498,229	6,338,177	5,930,061
Cash breakdown
Cash and cash equivalents	26,530,944	3,559,399	985,418
Restricted cash, current	167,285	345,010	610,376
Restricted cash, long term	4,800,000	2,433,768	4,334,267
Total cash, cash equivalents and restricted cash shown in the statement of cash flows	31,498,229	6,338,177	5,930,061
Supplemental cash flow information
Cash paid for interest, net of capitalized expenses	2,447,089	4,253,625	3,100,049
Financing, and investing activities fees:
Offering expenses accrued	84,510	75,357	40,846
Payment-in-kind dividends	0	365,059	78,640
Capital expenditures included in liabilities	690,481	0	71,890
Accrued preferred dividends	0	168,676	161,315
Shares issued as consideration for acquisition of vessels	0	548,612	13,218,662
Issuance of shares in connection with Series B Preferred Shares converted to equity	6,365,264	0	0
Conversion of Related Party Loan to Equity [Member]
Financing, and investing activities fees:
Shares issued in connection with related party loan converted to equity	$ 0	$ 2,366,571	$ 0

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation and General Information	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Business Description and Basis of Presentation [Text Block]	1. Basis of Presentation and General Information Euroseas Ltd. (the “Company” or “Euroseas”) was formed on May 5, 2005 June 28, 2005, June 29, 2005, January 2007, January 31, 2007. The operations of the vessels are managed by Eurobulk Ltd. (“Eurobulk” or “Management Company” or “Manager”), a corporation controlled by members of the Pittas family. Eurobulk has an office in Greece located at 4 8 The Pittas family is the controlling shareholder of Friends Investment Company Inc., Containers Shareholders Trinity Ltd., Eurobulk Marine Holdings Inc. and Family United Navigation Co., which, in turn, collectively own 54.7% of the Company’s shares as of December 31, 2021. On March 11, 2020, 2019 19” not 19, 2020, 2020 2021 2022, 19, 19 may may not 2020 2021. The Company effected an 8-for- 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. ● Joanna Maritime Ltd., incorporated in Liberia on June 10, 2013, 22,301 1,732 1999 July 4, 2013. ● 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. ● Jonathan Shipowners Ltd., incorporated in the Republic of Liberia on August 25, 2021, 23,357 1,740 2006 October 18, 2021. ● Marcos Shipping Ltd., incorporated in the Republic of the Marshall Islands on September 27, 2021, 72,968 6,350 2005 December 14, 2021. ● Gregos Maritime Ltd., incorporated in the Republic of the Marshall Islands on December 14, 2020, June 29, 2021, 2,800 No. 4201 first 2023. ● Terataki Shipping Ltd., incorporated in the Republic of the Marshall Islands on June 25, 2021, June 29, 2021, 2,800 No. 4202 second 2023. ● Tender Soul Shipping Ltd., incorporated in the Republic of the Marshall Islands on January 27, 2022, January 28, 2022, 2,800 No. 4236 fourth 2023. ● Leonidas Shipping Ltd., incorporated in the Republic of the Marshall Islands on January 27, 2022, January 28, 2022, 2,800 No. 4237 first 2024. ● Monica Shipowners Ltd., incorporated in the Republic Liberia on March 15, 2022, March 18, 2022, 1,800 No. 4248 first 2024. ● Stephania Shipping Ltd., incorporated in the Republic of Liberia on March 15, 2022, March 18, 2022, 1,800 No. 4249 second 2024. ● Pepi Shipping Ltd., incorporated in the Republic of Liberia on March 15, 2022, March 18, 2022, 1,800 No. 4250 second 2024. During the years ended December 31, 2019, 2020 2021, 10% Year ended December 31, Charterer 2019 2020 2021 CMA CGM, Marseille 24 % 17 % 24 % Maersk Line A/S 11 % 19 % 21 % Vasi Shipping Pte. Ltd., Singapore - - 15 % MSC Geneva 15 % 18 % - New Golden Sea Shipping Pte. Ltd., Singapore 21 % 10 % - Hapag-Lloyd AG, Hamburg 16 % - -

Note 2 - Significant Accounting

Note 2 - Significant Accounting Policies	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Significant Accounting Policies [Text Block]	2. Significant Accounting Policies The accompanying consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America. The following are the significant accounting policies adopted by the Company: Principles of consolidation The accompanying consolidated financial statements include the accounts of Euroseas Ltd. and its subsidiaries. Inter-company balances and transactions are eliminated on consolidation. Use of estimates The preparation of the accompanying consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosures of contingent assets and liabilities at the date of the consolidated financial statements, and the stated amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Other comprehensive income / (loss) The Company has no no Foreign currency translation The Company’s functional currency as well as the functional currency of all its subsidiaries is the U.S. dollar. Assets and liabilities denominated in foreign currencies are translated into U.S. dollars at exchange rates prevailing at the balance sheet date. Income and expenses denominated in foreign currencies are translated into U.S. dollars at exchange rates prevailing at the date of the transaction. The resulting exchange gains and/or losses on settlement or translation are included in the accompanying consolidated statements of operations. Cash equivalents Cash equivalents are cash in bank accounts, time deposits or other certificates purchased with an original maturity of three Restricted cash Restricted cash reflects deposits with certain banks that can only be used to pay the current loan installments or are required to be maintained as a certain minimum cash balance per mortgaged vessel and amounts that are pledged, blocked or held as cash collateral. Trade accounts receivable The amount shown as trade accounts receivable, at each balance sheet date, includes estimated recoveries from each voyage or time charter. At each balance sheet date, the Company provides for doubtful accounts on the basis of specific identified doubtful receivables. Inventories Inventories are stated at the lower of cost and net realizable value, which is the estimated selling 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 to prepare the vessel for her initial voyage, 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 years from the completion of their construction. Secondhand vessels are depreciated from the date of their acquisition through their remaining estimated useful life. When regulations place limitations over the ability of a vessel to trade on a worldwide basis, its remaining useful life is adjusted at the date such regulations are adopted. The estimated salvage value of each vessel is $250 per light weight ton as of December 31, 2020 2021. 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. 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. On January 1, 2019, 842 842” 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 2019, 2020 2021 842, not The Company, making use of the practical expedient for lessors, elected 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, 2019, 2020 2021. may 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 time charter agreements, voyage expenses which are also recognized as incurred by the Company include costs for draft surveys, holds cleaning, postage, extra war risk insurance and other minor miscellaneous expenses related to the voyage. The charterer is responsible for paying the cost of bunkers and other voyage expenses whilst the vessel is on time charter. Certain voyage expenses paid by the Company, such as extra war risk insurance and holds cleaning may Commissions (address and brokerage), regardless of charter type, are always paid by the Company, are deferred and amortized over the related charter period and are presented as a separate line item in revenues to arrive at net revenues in the accompanying consolidated statements of operations. Dry-docking and special survey expenses Dry-docking and special survey expenses are expensed as incurred. Pension and retirement benefit obligations crew The ship-owning companies contract the crews on board the vessels under short-term contracts (usually up to 9 months). Accordingly, they are 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 December 31, 2021, December 31, 2020, 19 2020, 2002 not five 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, 2020 2021, 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 total charter revenues and not Recent accounting pronouncements In January 2021, 2021 01 848 March 2020, 2020 04 848 2020 04 March 12, 2020 December 31, 2022, 2021 01 January 7, 2021 December 31, 2022. may

Note 3 - Inventories

Note 3 - Inventories	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Inventory Disclosure [Text Block]	3. Inventories Inventories consisted of the following: 2020 2021 Lubricants 1,558,484 1,851,508 Victualing 103,938 105,527 Bunkers - 317,419 Total 1,662,422 2,274,454

Note 4 - Advances for Vessels U

Note 4 - Advances for Vessels Under Construction	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Advances for Vessel Under Construction [Text Block]	4. Advances for vessels under construction On June 29, 2021, 2,800 two first second 2023, two December 31, 2021 first December 31, 2021 11

Note 5 - Vessels, Net

Note 5 - Vessels, Net	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	5. Vessels, net The amounts in the accompanying consolidated balance sheets are as follows: Cost Accumulated Depreciation Net Book Value Balance, January 1, 2020 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 the Synergy Vessels acquisition 548,612 - 548,612 - Capitalized expenses 575,677 - 575,677 Balance, December 31, 2020 116,331,440 (17,872,993 ) 98,458,447 - Depreciation for the year - (7,203,198 ) (7,203,198 ) - Delivery of M/V “Jonathan P” 25,771,926 - 25,771,926 - Delivery of M/V “Marcos V” 58,215,173 - 58,215,173 - Capitalized expenses 869,138 - 869,138 Balance, December 31, 2021 201,187,677 (25,076,191 ) 176,111,486 Capitalized expenses for the year ended December 31, 2020 December 31, 2021, two Vessels acquired / delivered On September 2, 2021, 23,357 1,740 2006 October 18, 2021 On November 11, 2021, 72,968 6,350 2005 7 December 14, 2021 Contingent consideration for Synergy Vessels Acquisition On November 7, 2019, 12 4,250 November 16, 2020 4:00 November 15, 2019 4:00 November 16, 2020, 20 November 16, 2020 4:00 four November 16, 2020 November 15, 2019. November 16, 2020 20 November 16, 2020 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. In January 2020, 19 June 30, 2020 December 31, 2020. July 6, 2020 July 17, 2020. December 31, 2020. 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 June 2021. September 30, 2021, 19 June 19, 2020 July 2, 2020. December 31, 2020. On July 13, 2020 July 30, 2020. December 31, 2020. On September 17, 2020 September 30, 2020. December 31, 2020. On October 29, 2020 November 9, 2020. December 31, 2020. No December 31, 2021. December 31, 2021, 2020. Impairment analysis In light of the economic downturn and the prevailing conditions in the shipping industry caused primarily by Covid- 19 December 31, 2020, December 31, 2021, As of December 31, 2021, 9

Note 6 - Accrued Expenses

Note 6 - Accrued Expenses	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	6. Accrued Expenses The accrued expenses consisted of: December 31, 2020 December 31, 2021 Accrued payroll expenses 339,004 604,761 Accrued interest expense 173,576 282,724 Accrued general and administrative expenses 187,311 119,750 Accrued commissions 76,130 239,313 Other accrued expenses 524,399 456,377 Total 1,300,420 1,702,925

Note 7 - Fair Value of Below Ma

Note 7 - Fair Value of Below Market Time Charters Acquired	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Below Market Time Charters Acquired [Text Block]	7. Fair Value of Below Market Time Charters Acquired As part of the Trinity / Diamantis Vessel Acquisition (see Note 8 August 2019 2 As part of the Synergy Vessels Acquisition in November 2019 2 In addition, as part of the acquisition of M/V “Marcos V”, in December 2021, 2 For the years ended December 31, 2019, 2020 2021, The unamortized balance of this intangible liability as of December 31, 2021 September 2025 As of December 31, 2021, For the year ending December 31, Below market acquired charters 2022 $ (4,940,640 ) 2023 (4,940,640 ) 2024 (4,954,176 ) 2025 (2,626,130 ) Total $ (17,461,586 )

Note 8 - Related Party Transact

Note 8 - Related Party Transactions	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	8. Related Party Transactions The Company’s vessel owning companies are parties to management agreements with the Manager (see Note 1 2019, 2020 2021, 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 20 685 The MMA was further renewed on January 1, 2018 five January 1, 2023 December 31, 2019, 2020 2021 January 1, 2022, Vessel management fees paid to the Manager amounted to $3,671,335, $5,293,199 and $4,294,789 in 2019, 2020 2021, In addition to the vessel management services, the Manager provides executive services to the Company. On November 15, 2019, $2,000,000 November 2019. 2019, January 1, 2019 November 15, 2019 November 16, 2019 December 31, 2019. 2019, 2020 2021, December 31, 2021, 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, 2020 2021, In August 2019, four 1,740 2005 2007, 3,100 2007, 2,008 1998. August 2, 2019, August 7, 2019, two 9 9 On September 30, 2019, second 2020 November 2020, 9 On November 1, 2019, second March 2021. 9 The Company uses brokers for various services, as is industry practice. Eurochart S.A. (“Eurochart”), 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% of the vessel sales price and 1.25% of charter revenues. Commissions to Eurochart for vessel sales were nil, nil 2019, 2020 2021, 1% October 2021, 2019, 2020 2021, 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%; 2019, 2020, 2021,

Note 9 - Long-term Bank Loans

Note 9 - Long-term Bank Loans	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Long-term Debt [Text Block]	9. Long-Term Bank Loans These consist of bank loans of the ship-owning companies and are as follows: Borrower December 31, 2020 December 31, 2021 Joanna Maritime Ltd. / Jonathan John Shipping Ltd. / Corfu Navigation Ltd. / Bridge Shipping Ltd. / Noumea Shipping Ltd. / Gregos Shipping Ltd. (a) 24,625,000 - Noumea Shipping Ltd. / Gregos Shipping Ltd. (a) - 9,375,000 Diamantis Shipowners Ltd. (b) 3,026,300 2,384,460 Kea Shipowners Ltd. / Spetses Shipowners Ltd. / Hydra Shipowners Ltd. (c) 11,150,000 8,450,000 Antwerp Shipping Ltd. / Busan Shipping Ltd. / Keelung Shipping Ltd. / Oakland Shipping Ltd. (d) 28,500,000 40,300,000 Jonathan John Shipping Ltd. / Corfu Navigation Ltd. (e) - 9,500,000 Jonathan Shipowners Ltd. (f) - 15,000,000 Marcos Shipping Ltd. (g) - 34,000,000 67,301,300 119,009,460 Less: Current portion (20,891,840 ) 29,284,460 Long-term portion 46,409,460 89,725,000 Deferred charges, current portion 246,520 250,411 Deferred charges, long-term portion 189,432 720,049 Long-term bank loans, current portion net of deferred charges 20,645,320 29,034,049 Long-term bank loans, long-term portion net of deferred charges 46,220,028 89,004,951 Loan from related party, current Euroseas Ltd. (h) 2,500,000 - The future annual loan repayments are as follows: To December 31: 2022 29,284,460 2023 51,765,000 2024 18,440,000 2025 19,520,000 Total 119,009,460 (a) On November 21, 2018, November 21, 2018 December 31, 2020, five 2020 November 2021. Each quarterly principal instalment paid was added to the revolving tranche and could be redrawn. The remaining $7,350,000 of the revolving facility, after including principal repayments up to December 31, 2019, 2001 June 26, 2020, second three 2020 November 2021. Within the third fourth 2020 February 2021. On September 9, 2021 November 19, 2021, On May 30, 2019, two 55% two May 2023. June 26, 2020, 2020 May 2023, first first 2019 (b) On July 29, 2019, not July 31, 2019, July 2022. first first 2019 first July 29, 2020, third fourth 2020 July 2022, (c) On July 30, 2019, August 8, 2019. February 2023. first first 2019 September 30, 2020, third fourth 2020, February 2023, (d) On November 8, 2019, November 18, 2019. November 2023. first first 2019 July 7, 2020, third fourth 2020, November 2023, November 23, 2021, On November 26, 2021, November 29, 2021 sixteen first four eleven 2021 (e) On September 6, 2021, two September 9, 2021 sixteen September 2025. first first (f) On October 22, 2021, October 26, 2021, twelve October 2024. first first (g) On December 14, 2021, sixteen twelve four December 2025. first first (h) On September 30, 2019, December 20, 2019 March 30, 2020, November 2020. first May 15, 2020 November 2020. December 31, 2019 2020, November 24, 2020, November 25, 2020, fifteen December 31, 2020. On November 1, 2019, second November 15, 2020, March 31, 2021. December 31, 2019, 2020 2021, 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 December 31, 2020 2021, December 31, 2021, Interest expense for the years ended December 31, 2019, 2020 2021

Note 10 - Income Taxes

Note 10 - Income Taxes	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Income Tax Disclosure [Text Block]	10. Income Taxes Under the laws of the countries of the companies’ incorporation and/or vessels’ registration, the companies are not Under the United States Internal Revenue Code of 1986, 4% 883 50% not For the taxable years 2019, 2020 2021 5% 5% not 50%

Note 11 - Commitments and Conti

Note 11 - Commitments and Contingencies	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	11. Commitments and Contingencies There are no not As of December 31, 2021, December 31, 2022, December 31, 2023 December 31, 2024. one may not not As of December 31, 2021, two third 2021, first December 31, 2022 December 31, 2023.

Note 12 - Stock Incentive Plan

Note 12 - Stock Incentive Plan	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Share-based Payment Arrangement [Text Block]	12. Stock Incentive Plan On July 31, 2014, 2014 “2014 May 5, 2018, “2018 2014 2018 2018 2018 may 2018 2014 2018 three December 31, 2021 a) On November 2, 2017 July 1, 2018 July 1, 2019; b) On November 21, 2018 November 16, 2019 November 16, 2020; c) On November 4, 2019 July 1, 2020 July 1, 2021; d) On November 5, 2020 November 16, 2021 November 16, 2022; e) On November 19, 2021 July 1, 2022 July 1, 2023; All non-vested restricted shares are conditional upon the grantee’s continued service as an employee of the Company or Eurobulk or as a director of the Company 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, December 31, 2019 2021. The compensation cost that has been charged against income for awards was $97,919, $121,631 and $182,324, for the years ended December 31, 2019, 2020 2021, A summary of the status of the Company’s non-vested shares as of December 31, 2019, 2020 2021, Non-vested Shares Number of shares Weighted-Average Grant-Date Fair Value 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 Non-vested on January 1, 2021 53,303 3.46 Granted 49,650 26.26 Vested (30,360 ) 3.47 Non-vested on December 31, 2021 72,593 19.05 As of December 31, 2021, 2018 December 31, 2019, 2020 2021

Note 13 - Earnings (Loss) Per S

Note 13 - Earnings (Loss) Per Share	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Earnings Per Share [Text Block]	13. Earnings / (Loss) Per Share Basic and diluted loss per common share is computed as follows: 2019 2020 2021 Income: Net (loss) / income (1,682,671 ) 4,041,431 42,963,660 Dividends to Series B preferred shares (1,271,782 ) (693,297 ) (255,324 ) Preferred deemed dividend (504,577 ) - (345,628 ) Net (loss) / income attributable to common shareholders (3,459,030 ) 3,348,134 42,362,708 Weighted average common shares –outstanding, basic 2,861,928 5,753,917 6,976,905 Basic (loss) / earnings per share (1.21 ) 0.58 6.07 Effect of dilutive securities: Dilutive effect of non-vested shares - - 16,500 Weighted average common shares –outstanding, diluted 2,861,928 5,753,917 6,993,405 Diluted (loss) / earnings per share (1.21 ) 0.58 6.06 For the years ended December 31, 2019 2020, nil 2019 2020. December 31, 2019 2020, December 31, 2021,

Note 14 - Voyage Expenses and V

Note 14 - Voyage Expenses and Vessel Operating Expenses	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Vessel Voyage and Operating Expenses [Text Block]	14. Voyage Expenses and Vessel Operating Expenses These consisted of: Year ended December 31, 2019 2020 2021 Voyage expenses Port charges and canal dues 251,197 451,586 253,855 Bunkers 804,211 882,673 370,879 Total 1,055,408 1,334,259 624,734 Vessel operating expenses Crew wages and related costs 13,111,682 17,866,847 15,961,904 Insurance 1,844,088 2,947,937 2,917,042 Repairs and maintenance 1,110,995 1,316,864 1,247,176 Lubricants 2,029,230 2,609,647 2,471,994 Spares and consumable stores 4,758,290 6,245,518 5,784,004 Professional and legal fees 259,311 255,948 212,108 Other 869,686 976,928 1,145,209 Total 23,983,282 32,219,689 29,739,437

Note 15 - Derivative Financial

Note 15 - Derivative Financial Instruments	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Derivative Instruments and Hedging Activities Disclosure [Text Block]	15. Derivative Financial Instruments Interest rate swaps On October 17, 2014, October 14, 2014 May 28, 2019, 3 November 28, 2016, November 28, 2017 May 28, 2019) On April 16, 2020, one April 24, 2020 April 24, 2025. 3 On October 12, 2021, one November 1, 2021 November 1, 2025. 3 The interest rate swap contracts did not December 31, 2020 2021. Derivatives not designated as hedging instruments Balance Sheet Location December 31, 2020 December 31, 2021 Interest rate swap contracts Current assets – Derivatives - 540,753 Total derivative assets - 540,753 Interest rate swap contract Current liabilities – Derivative 203,553 - Interest rate swap contracts Long-term liabilities – Derivatives 362,195 952,666 Total derivative liabilities 565,748 952,666 Derivatives not designated as hedging instruments Location of gain (loss) recognized Year Ended December 31, 2019 Year Ended December 31, 2020 Year Ended December 31, 2021 Interest rate swap contract– Unrealized (loss) / gain Loss on derivatives, net - (565,748 ) 153,835 Interest rate swap contract- Realized loss Loss on derivatives, net (2,885 ) (22,240 ) (180,976 ) Total net (loss) / gain on interest rate swap contract (2,885 ) 587,988 (27,141 )

Note 16 - Preferred Shares

Note 16 - Preferred Shares	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Preferred Stock [Text Block]	16. Preferred shares Number of Shares Preferred Shares Amount Dividends paid-in-kind Total Balance, January 1, 2019 19,605 14,500,000 4,257,361 18,757,361 Dividends declared 81 - 78,639 78,639 Redemption of Preferred 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 Redemption of Preferred shares (2,000 ) (2,000,000 ) - (2,000,000 ) Preferred shares converted to common shares (6,365 ) (5,195,150 ) (1,170,114 ) (6,365,264 ) Preferred deemed dividend - 345,628 - 345,628 Balance, December 31, 2021 - - - - On January 27, 2014, January 29, 2019 The dividend rate increased to 12% for the two January 29, 2019 January 29, 2019, September 2015 fifth Following the close of trading on the Nasdaq Capital Market on May 30, 2018, one five May 23, 2018. May 31, 2018 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% of Euroseas Series B Preferred Stock, i.e. $14,500,000 of the initial preferred shares amount of the Company and $3,692,131 of dividends paid in kind. Euroseas contributed to EuroDry its interests in seven 100% 100% On June 10, 2019 January 29, 2021. 1 2 In January 2021, January 29, 2023, June 2021, 1 2 For the year ended December 31, 2019 four 2019 December 31, 2019 first 2020. December 31, 2020, four December 31, 2020 February 2021. December 31, 2021, 2021. Subject to certain ownership thresholds, holders of Series B Preferred Shares had the right to appoint one one

Note 17 - Financial Instruments

Note 17 - Financial Instruments	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Financial Instruments Disclosure [Text Block]	17. Financial Instruments The principal financial assets of the Company consist of cash and cash equivalents, restricted cash, trade accounts receivable, other receivables and derivatives. 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 Eurobank 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 bank loans 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 15 not Derivatives and Hedging not December 31, 2021, two 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 quality 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 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, 2021 Total (Level 1) (Level 2) (Level 3) Assets Interest rate swap contracts, current portion $ 540,753 - $ 540,753 - Liabilities Interest rate swap contracts, long-term portion $ 952,666 - $ 952,666 - 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 As of June 30, 2020 December 31, 2020. 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, 2020 2021, 1 December 31, 2021, 2 December 31, 2020,

Note 18 - Common Stock

Note 18 - Common Stock	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	18. Common Stock As per the Company’s Amended and Restated Articles of Incorporation, the Company is authorized to issue 200,000,000 shares of common stock, par value $0.03 per share. Each outstanding share of common stock is entitled to one may may not may In August 2019, 8 During October 2019, December 20, 2016, January 13, 2017, October 30, 2018 May 30, 2019, In November 2019, In addition, during the year ended December 31, 2019, 12 On December 19, 2019, 1 December 18, 2019. December 19, 2019. During August 2020, May 12, 2020, May 29, 2020, In addition, during the year ended December 31, 2020, 12 On November 16, 2020, November 7, 2019 5 On November 24, 2020, September 2019, fifteen 9 During February 2021, May 12, 2020, May 29, 2020 February 3, 2021 On June 30, 2021, 16

Note 19 - Other Operating Incom

Note 19 - Other Operating Income	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Other Operating Income and Expense [Text Block]	19. Other operating income In January 2020, December 31, 2020. In the year ended December 31, 2021, 2009 one March 2020 second 2020 5

Note 20 - Subsequent Events

Note 20 - Subsequent Events	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Subsequent Events [Text Block]	20. Subsequent Events (a) On January 28, 2022, two 2,800 two fourth 2023 first 2024, two (b) On March 18, 2022, three 1,800 1,800 first 2024, one first two second 2024. three

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2021
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 to prepare the vessel for her initial voyage, 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 years from the completion of their construction. Secondhand vessels are depreciated from the date of their acquisition through their remaining estimated useful life. When regulations place limitations over the ability of a vessel to trade on a worldwide basis, its remaining useful life is adjusted at the date such regulations are adopted. The estimated salvage value of each vessel is $250 per light weight ton as of December 31, 2020 2021.
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. 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. On January 1, 2019, 842 842” 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 2019, 2020 2021 842, not The Company, making use of the practical expedient for lessors, elected 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, 2019, 2020 2021. may 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 time charter agreements, voyage expenses which are also recognized as incurred by the Company include costs for draft surveys, holds cleaning, postage, extra war risk insurance and other minor miscellaneous expenses related to the voyage. The charterer is responsible for paying the cost of bunkers and other voyage expenses whilst the vessel is on time charter. Certain voyage expenses paid by the Company, such as extra war risk insurance and holds cleaning may Commissions (address and brokerage), regardless of charter type, are always paid by the Company, are deferred and amortized over the related charter period and are presented as a separate line item in revenues to arrive at net revenues in the accompanying consolidated statements of operations.
Drydocking and Special Survey Expenses [Policy Text Block]	Dry-docking and special survey expenses Dry-docking and special survey expenses are expensed as incurred.
Pension and Other Postretirement Plans, Policy [Policy Text Block]	Pension and retirement benefit obligations crew The ship-owning companies contract the crews on board the vessels under short-term contracts (usually up to 9 months). Accordingly, they are 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 December 31, 2021, December 31, 2020, 19 2020, 2002 not five 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, 2020 2021, 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 total charter revenues and not
New Accounting Pronouncements, Policy [Policy Text Block]	Recent accounting pronouncements In January 2021, 2021 01 848 March 2020, 2020 04 848 2020 04 March 12, 2020 December 31, 2022, 2021 01 January 7, 2021 December 31, 2022. may

Note 1 - Basis of Presentatio_2

Note 1 - Basis of Presentation and General Information (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Schedules of Concentration of Risk, by Risk Factor [Table Text Block]	Year ended December 31, Charterer 2019 2020 2021 CMA CGM, Marseille 24 % 17 % 24 % Maersk Line A/S 11 % 19 % 21 % Vasi Shipping Pte. Ltd., Singapore - - 15 % MSC Geneva 15 % 18 % - New Golden Sea Shipping Pte. Ltd., Singapore 21 % 10 % - Hapag-Lloyd AG, Hamburg 16 % - -

Note 3 - Inventories (Tables)

Note 3 - Inventories (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Schedule of Inventory, Current [Table Text Block]	2020 2021 Lubricants 1,558,484 1,851,508 Victualing 103,938 105,527 Bunkers - 317,419 Total 1,662,422 2,274,454

Note 5 - Vessels, Net (Tables)

Note 5 - Vessels, Net (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Property, Plant and Equipment [Table Text Block]	Cost Accumulated Depreciation Net Book Value Balance, January 1, 2020 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 the Synergy Vessels acquisition 548,612 - 548,612 - Capitalized expenses 575,677 - 575,677 Balance, December 31, 2020 116,331,440 (17,872,993 ) 98,458,447 - Depreciation for the year - (7,203,198 ) (7,203,198 ) - Delivery of M/V “Jonathan P” 25,771,926 - 25,771,926 - Delivery of M/V “Marcos V” 58,215,173 - 58,215,173 - Capitalized expenses 869,138 - 869,138 Balance, December 31, 2021 201,187,677 (25,076,191 ) 176,111,486

Note 6 - Accrued Expenses (Tabl

Note 6 - Accrued Expenses (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	December 31, 2020 December 31, 2021 Accrued payroll expenses 339,004 604,761 Accrued interest expense 173,576 282,724 Accrued general and administrative expenses 187,311 119,750 Accrued commissions 76,130 239,313 Other accrued expenses 524,399 456,377 Total 1,300,420 1,702,925

Note 7 - Fair Value of Below _2

Note 7 - Fair Value of Below Market Time Charters Acquired (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Schedule of Below Market Time Charters, Future Amortization Expense [Table Text Block]	For the year ending December 31, Below market acquired charters 2022 $ (4,940,640 ) 2023 (4,940,640 ) 2024 (4,954,176 ) 2025 (2,626,130 ) Total $ (17,461,586 )

Note 9 - Long-term Bank Loans (

Note 9 - Long-term Bank Loans (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Schedule of Long-term Debt Instruments [Table Text Block]	Borrower December 31, 2020 December 31, 2021 Joanna Maritime Ltd. / Jonathan John Shipping Ltd. / Corfu Navigation Ltd. / Bridge Shipping Ltd. / Noumea Shipping Ltd. / Gregos Shipping Ltd. (a) 24,625,000 - Noumea Shipping Ltd. / Gregos Shipping Ltd. (a) - 9,375,000 Diamantis Shipowners Ltd. (b) 3,026,300 2,384,460 Kea Shipowners Ltd. / Spetses Shipowners Ltd. / Hydra Shipowners Ltd. (c) 11,150,000 8,450,000 Antwerp Shipping Ltd. / Busan Shipping Ltd. / Keelung Shipping Ltd. / Oakland Shipping Ltd. (d) 28,500,000 40,300,000 Jonathan John Shipping Ltd. / Corfu Navigation Ltd. (e) - 9,500,000 Jonathan Shipowners Ltd. (f) - 15,000,000 Marcos Shipping Ltd. (g) - 34,000,000 67,301,300 119,009,460 Less: Current portion (20,891,840 ) 29,284,460 Long-term portion 46,409,460 89,725,000 Deferred charges, current portion 246,520 250,411 Deferred charges, long-term portion 189,432 720,049 Long-term bank loans, current portion net of deferred charges 20,645,320 29,034,049 Long-term bank loans, long-term portion net of deferred charges 46,220,028 89,004,951 Loan from related party, current Euroseas Ltd. (h) 2,500,000 -
Schedule of Future Annual Loan Repayments [Table Text Block]	To December 31: 2022 29,284,460 2023 51,765,000 2024 18,440,000 2025 19,520,000 Total 119,009,460

Note 12 - Stock Incentive Plan

Note 12 - Stock Incentive Plan (Tables)	12 Months Ended
	Dec. 31, 2021
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, 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 Non-vested on January 1, 2021 53,303 3.46 Granted 49,650 26.26 Vested (30,360 ) 3.47 Non-vested on December 31, 2021 72,593 19.05

Note 13 - Earnings (Loss) Per_2

Note 13 - Earnings (Loss) Per Share (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	2019 2020 2021 Income: Net (loss) / income (1,682,671 ) 4,041,431 42,963,660 Dividends to Series B preferred shares (1,271,782 ) (693,297 ) (255,324 ) Preferred deemed dividend (504,577 ) - (345,628 ) Net (loss) / income attributable to common shareholders (3,459,030 ) 3,348,134 42,362,708 Weighted average common shares –outstanding, basic 2,861,928 5,753,917 6,976,905 Basic (loss) / earnings per share (1.21 ) 0.58 6.07 Effect of dilutive securities: Dilutive effect of non-vested shares - - 16,500 Weighted average common shares –outstanding, diluted 2,861,928 5,753,917 6,993,405 Diluted (loss) / earnings per share (1.21 ) 0.58 6.06

Note 14 - Voyage Expenses and_2

Note 14 - Voyage Expenses and Vessel Operating Expenses (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Schedule of Voyage Vessel Operating Expenses and Commissions [Table Text Block]	Year ended December 31, 2019 2020 2021 Voyage expenses Port charges and canal dues 251,197 451,586 253,855 Bunkers 804,211 882,673 370,879 Total 1,055,408 1,334,259 624,734 Vessel operating expenses Crew wages and related costs 13,111,682 17,866,847 15,961,904 Insurance 1,844,088 2,947,937 2,917,042 Repairs and maintenance 1,110,995 1,316,864 1,247,176 Lubricants 2,029,230 2,609,647 2,471,994 Spares and consumable stores 4,758,290 6,245,518 5,784,004 Professional and legal fees 259,311 255,948 212,108 Other 869,686 976,928 1,145,209 Total 23,983,282 32,219,689 29,739,437

Note 15 - Derivative Financia_2

Note 15 - Derivative Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2021
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, 2020 December 31, 2021 Interest rate swap contracts Current assets – Derivatives - 540,753 Total derivative assets - 540,753 Interest rate swap contract Current liabilities – Derivative 203,553 - Interest rate swap contracts Long-term liabilities – Derivatives 362,195 952,666 Total derivative liabilities 565,748 952,666
Derivative Instruments, Gain (Loss) [Table Text Block]	Derivatives not designated as hedging instruments Location of gain (loss) recognized Year Ended December 31, 2019 Year Ended December 31, 2020 Year Ended December 31, 2021 Interest rate swap contract– Unrealized (loss) / gain Loss on derivatives, net - (565,748 ) 153,835 Interest rate swap contract- Realized loss Loss on derivatives, net (2,885 ) (22,240 ) (180,976 ) Total net (loss) / gain on interest rate swap contract (2,885 ) 587,988 (27,141 )

Note 16 - Preferred Shares (Tab

Note 16 - Preferred Shares (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Schedule of Stockholders Equity [Table Text Block]	Number of Shares Preferred Shares Amount Dividends paid-in-kind Total Balance, January 1, 2019 19,605 14,500,000 4,257,361 18,757,361 Dividends declared 81 - 78,639 78,639 Redemption of Preferred 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 Redemption of Preferred shares (2,000 ) (2,000,000 ) - (2,000,000 ) Preferred shares converted to common shares (6,365 ) (5,195,150 ) (1,170,114 ) (6,365,264 ) Preferred deemed dividend - 345,628 - 345,628 Balance, December 31, 2021 - - - -

Note 17 - Financial Instrumen_2

Note 17 - Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	Fair Value Measurement as of December 31, 2021 Total (Level 1) (Level 2) (Level 3) Assets Interest rate swap contracts, current portion $ 540,753 - $ 540,753 - Liabilities Interest rate swap contracts, long-term portion $ 952,666 - $ 952,666 - 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 1 - Basis of Presentatio_3

Note 1 - Basis of Presentation and General Information (Details Textual)	Dec. 19, 2019	Dec. 18, 2019	Dec. 31, 2021
Shareholders Ownership, Percentage			54.70%
Reverse Stock Split [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio	8	8

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, 2021	Dec. 31, 2020	Dec. 31, 2019
Charterer CMA [Member]
Concentration Risk, Percentage	24.00%	17.00%	24.00%
Maersk Line A/S [Member]
Concentration Risk, Percentage	21.00%	19.00%	11.00%
Vasi Shipping Pte. Ltd., Singapore [Member]
Concentration Risk, Percentage	15.00%	0.00%	0.00%
Charterer MSC [Member]
Concentration Risk, Percentage	0.00%	18.00%	15.00%
Charterer GSS [Member]
Concentration Risk, Percentage	0.00%	10.00%	21.00%
Hapag-Lloyd AG [Member]
Concentration Risk, Percentage	0.00%	0.00%	16.00%

Note 2 - Significant Accounti_2

Note 2 - Significant Accounting Policies (Details Textual) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)	Dec. 31, 2020
Estimated Salvage Value Per Light Weight Ton of Vessel	250	250
Ship Owning Crew Contract Term (Month)	9 months
Impairment, Long-Lived Asset, Held-for-Use, Total	$ 0
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
Maximum [Member]
Lessor, Operating Lease, Term of Contract (Day)	3 years
Lessor, Operating Lease, Option to Renewal Term (Month)	12 months
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, 2021	Dec. 31, 2020
Inventory	$ 2,274,454	$ 1,662,422
Lubricant [Member]
Inventory	1,851,508	1,558,484
Victualing [Member]
Inventory	105,527	103,938
Bunkers [Member]
Inventory	$ 317,419	$ 0

Note 4 - Advances for Vessels_2

Note 4 - Advances for Vessels Under Construction (Details Textual)	6 Months Ended	12 Months Ended
	Dec. 31, 2021USD ($)	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Jun. 29, 2021USD ($)
Payments for Vessels Under Construction		$ 7,615,958	$ 0	$ 0
Eco Design Fuel Efficient Containerships [Member]
Number of Vessels Under Construction	2	2			2
Construction of Vessels, Amount to Be Financed with a Combination of Debt and Equity	$ 76,100,000	$ 76,100,000			$ 76,100,000
Payments for Vessels Under Construction	$ 7,600,000	7,600,000
Eco Design Fuel Efficient Containership One [Member]
Payments for Vessels Under Construction		$ 3,800,000

Note 5 - Vessels, Net (Details

Note 5 - Vessels, Net (Details Textual)

Nov. 11, 2021USD ($)

Sep. 02, 2021USD ($)

Nov. 16, 2020$ / sharesshares

Nov. 09, 2020USD ($)

Oct. 29, 2020USD ($)

Sep. 17, 2020USD ($)

Jul. 17, 2020USD ($)

Jul. 13, 2020USD ($)

Jul. 06, 2020USD ($)

Jun. 19, 2020USD ($)

Feb. 29, 2020USD ($)

Jun. 30, 2020USD ($)

Sep. 30, 2021USD ($)

Dec. 31, 2021USD ($)

Dec. 31, 2020USD ($)

Dec. 31, 2019USD ($)

Nov. 25, 2020$ / shares

Nov. 07, 2019USD ($)

Twenty Day Weighted Average Share Price (in dollars per share) | $ / shares

$ 3.09871

Share Price (in dollars per share) | $ / shares

$ 3.40

$ 3.37

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

$ (9,417)

$ 2,453,736

$ 0

Other Operating Expenses, Income

1,298,318

2,687,205

$ 0

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

9,417

Impairment, Long-Lived Asset, Held-for-Use, Total

$ 0

Number of Vessels Used As Collateral

14

Number of Vessels Unencumbered

2

Synergy Holdings Limited [Member]

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

161,357

Purchase of Vessels [Member]

Cash Issued Per Vessel Purchased

$ 500,000

Installation of WBT System Improvements on Vessel [Member]

Payments for Improvements of Property, Plant and Equipment

$ 470,000

Installation of Smart Monitoring Systems Improvement on Vessels [Member]

Payments for Improvements of Property, Plant and Equipment

400,000

MV Jonathan P [Member]

Payments to Acquire Property, Plant, and Equipment, Total

$ 25,500,000

Payments to Make Property, Plant and Equipment Available for Use

271,926

Payments to Acquire Property, Plant, and Equipment, Including Preparation Costs

$ 25,771,926

M/V Marcos V [Member]

Payments to Acquire Property, Plant, and Equipment, Total

$ 40,000,000

Payments to Make Property, Plant and Equipment Available for Use

523,475

Payments to Acquire Property, Plant, and Equipment, Including Preparation Costs

58,215,173

Marcos V, Vessels [Member]

Payments to Acquire Property, Plant, and Equipment, Total

57,691,698

Marcos V, In-place Attached Time Charter [Member]

Payments to Acquire Property, Plant, and Equipment, Total

$ 17,691,698

M/V EM Oinousses [Member]

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

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

$ 3,770,000

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

Other Operating Expenses, Income

$ 1,000,000

$ 1,000,000

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 Aggeliki P. [Member]

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

$ 1,200,000

Note 5 - Vessels, Net - Summary

Note 5 - Vessels, Net - Summary of Vessels (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Net book value	$ 98,458,447
Vessel depreciation	(7,203,198)	$ (6,605,976)	$ (4,178,886)
- Depreciation for the year	(7,203,198)	(6,605,976)	(4,178,886)
Net book value	176,111,486	98,458,447
Vessels [Member]
Costs	116,331,440	132,863,067
Accumulated depreciation	(17,872,993)	(16,632,734)
Net book value	98,458,447	116,230,333
Vessel depreciation	(7,203,198)	(6,605,976)
- Depreciation for the year	(7,203,198)	(6,605,976)
- Sale of vessels		(17,655,916)
- Sale of vessels		5,365,717
- Sale of vessels		(12,290,199)
- Contingent consideration for the Synergy Vessels acquisition		548,612
- Capitalized expenses	869,138	575,677
Net book value	176,111,486	98,458,447	116,230,333
Costs	201,187,677	116,331,440	132,863,067
Accumulated depreciation	(25,076,191)	$ (17,872,993)	$ (16,632,734)
Jonathan P Vessels [Member]
- Delivery of Vessels	25,771,926
Marcos V, Vessels [Member]
- Delivery of Vessels	$ 58,215,173

Note 6 - Accrued Expenses - Sum

Note 6 - Accrued Expenses - Summary of Accrued Expenses (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Accrued payroll expenses	$ 604,761	$ 339,004
Accrued interest expense	282,724	173,576
Accrued general and administrative expenses	119,750	187,311
Accrued commissions	239,313	76,130
Other accrued expenses	456,377	524,399
Total	$ 1,702,925	$ 1,300,420

Note 7 - Fair Value of Below _3

Note 7 - Fair Value of Below Market Time Charters Acquired (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Nov. 30, 2019	Aug. 01, 2019
Amortization of fair value of below market time charters acquired	$ 230,112	$ 1,714,370	$ 857,945
Below Market Time Charters Acquired, Noncurrent	17,461,586	$ 0
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
Fair Value, Inputs, Level 2 [Member] | M/V Marcos V [Member]
Below Market Time Charters, Fair Value	$ 17,691,698

Note 7 - Fair Value of Below _4

Note 7 - Fair Value of Below Market Time Charters Acquired (Details)	Dec. 31, 2021USD ($)
2022	$ (4,940,640)
2023	(4,940,640)
2024	(4,954,176)
2025	(2,626,130)
Total	$ (17,461,586)

Note 8 - Related Party Transa_2

Note 8 - Related Party Transactions (Details Textual)	Sep. 30, 2019USD ($)	Jan. 01, 2018	Jan. 01, 2012EUR (€)	Aug. 31, 2019USD ($)shares	Dec. 31, 2019USD ($)	Apr. 20, 2022EUR (€)	Sep. 30, 2020	Nov. 15, 2019USD ($)	Dec. 31, 2021USD ($)	Dec. 31, 2021EUR (€)	Dec. 31, 2020USD ($)	Dec. 31, 2020EUR (€)	Dec. 31, 2019USD ($)	Dec. 31, 2019EUR (€)	Nov. 01, 2019USD ($)
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 | €			€ 342.5
Due to Related Parties, Total									$ 309,970		$ 24,072
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
Proceeds from Issuance of Long-term Debt, Total				$ 16,167,680
Shares Issued, Percent of Outsanding Shares of the Company				64.30%
Eurobulk Ltd. [Member] | Vessel Management Fees [Member]
Related Party Transaction, Amounts of Transaction									4,294,789		5,293,199		$ 3,671,335
Eurobulk Ltd. [Member] | Fixed Management Fees [Member]
Related Party Transaction, Amounts of Transaction					$ 2,000,000			$ 1,250,000
Eurobulk Ltd. [Member] | Fixed Management Fees [Member] | Special Bonus to Employees and Consultants [Member]
Related Party Transaction, Amounts of Transaction									460,000
Eurobulk Ltd. [Member] | Fixed Management Fees [Member] | General and Administrative Expense [Member]
Related Party Transaction, Amounts of Transaction									2,460,000		2,000,000		1,344,250
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]
Due to Related Parties, Total									$ 255,000
Related Party Transaction Commission, Percentage							1.00%		1.00%	1.00%
Related Party Transaction, Expenses from Transactions with Related Party									$ 0		153,750		0
Eurochart [Member] | Charter Revenues [Member]
Related Party Transaction Commission, Percentage							1.25%
Related Party Transaction, Expenses from Transactions with Related Party									1,075,274		504,892		493,341
Eurochart [Member] | Vessel Sales, Commission [Member]
Related Party Transaction, Amounts of Transaction									400,000
Sentinel [Member]
Related Party Transaction, Expenses from Transactions with Related Party									$ 77,896		100,837		106,749
Related Party Transaction Commission on Premium, Maximum, Percentage									5.00%	5.00%
Technomar [Member]
Related Party Transaction, Expenses from Transactions with Related Party									$ 155,739		$ 203,678		$ 142,332
Related Party Transaction Amounts of Transaction Per Crew Member Per Month									$ 50
Subsequent Event [Member]
Service Management Costs Daily Fee Related Party | €						€ 720
Related Party Transaction Daily Fee Per Vessel Per Day in Lay Up | €						€ 360

Note 9 - Long-term Bank Loans_2

Note 9 - Long-term Bank Loans (Details Textual)	Dec. 14, 2021USD ($)	Nov. 26, 2021USD ($)	Oct. 22, 2021USD ($)	Sep. 06, 2021USD ($)	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 ($)	Nov. 19, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Nov. 23, 2021USD ($)	Nov. 16, 2020$ / shares	Sep. 30, 2020USD ($)	Jul. 29, 2020USD ($)	Jul. 07, 2020USD ($)
Number of Vessels Sold																	5
Gain (Loss) on Extinguishment of Debt, Total																			$ 0	$ (491,571)	$ (328,291)
Share Price (in dollars per share) | $ / shares					$ 3.37																		$ 3.40
Restricted Cash, Total																	$ 2,245,010		4,967,285	2,245,010
Interest Expense, Total																			2,556,237	3,836,985	3,219,471
Term Sheet, Piraeus S.A. [Member]
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid		$ 4,340,000
Payments of Debt Issuance Costs																			$ 115,000
Debt Instrument, Covenant, Security Cover Ratio																			125.00%
Debt Instrument, Face Amount		$ 16,500,000
Debt Instrument Number of Quarterly Payments		16
Term Sheet, Piraeus S.A., First Four Installments [Member]
Debt Instrument, Periodic Payment, Total		$ 1,500,000
Term Sheet, Piraeus S.A., Eleven Installments [Member]
Debt Instrument, Periodic Payment, Total		$ 560,000
Jonathan John Shipping Ltd., and Corfu Navigation Ltd. [Member]
Debt Instrument, Periodic Payment, Total				$ 500,000
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid				2,000,000
Payments of Debt Issuance Costs				$ 225,000
Debt Instrument, Covenant, Security Cover Ratio				120.00%
Debt Instrument, Face Amount				$ 10,000,000
Debt Instrument, Periodic Payment, Number of Payments				16
Jonathan John Shipping Ltd. [Member]
Debt Instrument, Face Amount				$ 3,500,000
Corfu Navigation Ltd. [Member]
Debt Instrument, Face Amount				$ 6,500,000
Term Loan, HSBC Bank plc [Member]
Debt Instrument, Periodic Payment, Total			$ 1,100,000
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid			1,800,000
Payments of Debt Issuance Costs			$ 117,500
Debt Instrument, Covenant, Security Cover Ratio			130.00%
Debt Instrument, Face Amount			$ 15,000,000
Debt Instrument Number of Quarterly Payments			12
Term Loan With Eurobank Ergasias S.A. by Marcos Shipping Ltd. [Member]
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid	$ 7,000,000
Payments of Debt Issuance Costs	$ 300,000
Debt Instrument, Covenant, Security Cover Ratio	120.00%
Debt Instrument, Face Amount	$ 34,000,000
Debt Instrument Number of Quarterly Payments	16
Term Loan With Eurobank Ergasias S.A. by Marcos Shipping Ltd., Twelve Installments [Member]
Debt Instrument, Periodic Payment, Total	$ 2,000,000
Term Loan With Eurobank Ergasias S.A. by Marcos Shipping Ltd., Four Installments [Member]
Debt Instrument, Periodic Payment, Total	$ 750,000
London Interbank Offered Rate (LIBOR) [Member] | Term Sheet, Piraeus S.A. [Member]
Debt Instrument, Basis Spread on Variable Rate		2.60%
London Interbank Offered Rate (LIBOR) [Member] | Jonathan John Shipping Ltd., and Corfu Navigation Ltd. [Member]
Debt Instrument, Basis Spread on Variable Rate				3.50%
London Interbank Offered Rate (LIBOR) [Member] | Term Loan, HSBC Bank plc [Member]
Debt Instrument, Basis Spread on Variable Rate			2.35%
London Interbank Offered Rate (LIBOR) [Member] | Term Loan With Eurobank Ergasias S.A. by Marcos Shipping Ltd. [Member]
Debt Instrument, Basis Spread on Variable Rate	2.80%
Eurobank Ergasias S.A. [Member] | Corfu Navigation Ltd., Jonathan John Shipping Ltd. and Bridge Shipping Ltd. [Member]
Short-term Debt, Refinanced, Amount				$ 5,525,000
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
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
Payments of Debt Issuance Costs														$ 32,000
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)															18 months
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
Repayments of Debt																$ 7,030,000
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
Proceeds from Issuance of Long-term Debt, Total													$ 3,667,680
Debt Instrument, Number of Periodic Payments													12
Payments of Debt Issuance Costs																					$ 32,000
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													$ 17,400,000				$ 18,900,000
Debt Instrument, Deferred Amount																						$ 1,500,000				$ 1,500,000
Proceeds from Issuance of Long-term Debt, Total									$ 32,000,000
Payments of Debt Issuance Costs																					$ 352,000
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
Proceeds from Issuance of Long-term Debt, Total												$ 12,500,000
Debt Instrument, Number of Periodic Payments												14
Payments of Debt Issuance Costs																					62,500
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																			$ 50,000	$ 201,248	$ 33,333

Note 9 - Long-term Bank Loans -

Note 9 - Long-term Bank Loans - Summary of Long-term Debt (Details) - USD ($)		Dec. 31, 2021	Dec. 31, 2020
Long-term debt, gross	[1]	$ 119,009,460	$ 67,301,300
Less: Current portion		29,284,460	(20,891,840)
Long-term portion		(89,725,000)	(46,409,460)
Deferred charges, current portion		250,411	246,520
Deferred charges, long-term portion		720,049	189,432
Long-term bank loans, current portion net of deferred charges		29,034,049	20,645,320
Long-term bank loans, long-term portion net of deferred charges		89,004,951	46,220,028
Euroseas Ltd.	[1]	0	2,500,000
Joanna Maritime Ltd., Jonathan John Shipping Ltd., Corfu Navigation Ltd., Bridge Shipping Ltd, Noumea Shipping Ltd., Gregos Shiping Ltd. [Member]
Long-term debt, gross	[2]	0	24,625,000
Noumea Shipping Ltd., Gregos Shipping Ltd. [Member]
Long-term debt, gross	[2]	9,375,000	0
Diamantis Shipowners Ltd. [Member]
Long-term debt, gross	[3]	2,384,460	3,026,300
Kea Shipowners Ltd. / Spetses Shipowners Ltd. / Hydra Shipowners Ltd. [Member]
Long-term debt, gross	[4]	8,450,000	11,150,000
Antwerp Shipping Ltd. / Busan Shipping Ltd. / Keelung Shipping Ltd. / Oakland Shipping Ltd. [Member]
Long-term debt, gross	[5]	40,300,000	28,500,000
Jonathan John Shipping Ltd., and Corfu Navigation Ltd. [Member]
Long-term debt, gross	[6]	9,500,000	0
Jonathan Shipowners Ltd. [Member]
Long-term debt, gross	[7]	15,000,000	0
Marcos Shippting Ltd. [Member]
Long-term debt, gross	[8]	$ 34,000,000	$ 0
[1]	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 and March 30, 2020, to draw down a $2.5 million loan to finance the special survey and WBT system installation on M/V “Akinada Bridge”. Interest on the loan was 8% per annum and was payable quarterly. The loan was payable in four repayment installments of a principal amount of $625,000 each, maturing by November 2020. The first repayment instalment was paid on May 15, 2020 and the remaining three installments, which were payable on a quarterly basis, were rescheduled to be paid at the maturity of the loan in November 2020. Under certain limited circumstances, the Company could pay principal in equity, and the loan was 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 was recorded under “Loss on debt extinguishment” in the consolidated statement of operations for the year ended December 31, 2020. 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 was 8% per annum and was payable quarterly. This loan was fully repaid upon its maturity on March 31, 2021. The Company paid $33,333, $201,248 and $50,000 on interest for this loan for the years ended December 31, 2019, 2020 and 2021, respectively.
[2]	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 to fully refinance all of the Company’s existing facilities with this bank and provide working capital. As of December 31, 2020, and following the sale of five vessels used as collateral during 2020 (see below) the borrowers of the specific tranche were Joanna Maritime Ltd., Jonathan John Shipping Ltd., Corfu Navigation Ltd. and Bridge Shipping Ltd. 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 could be renewed subject to the bank’s approval and a fee to be determined. The loan was 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 was 3.90% over LIBOR, reduced from 4.40% as described below. Each quarterly principal instalment paid was added to the revolving tranche and could 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-built ships. The undrawn amount available under the revolving facility incurred an annual commitment of 0.40% and any amount drawn would incur 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. On September 9, 2021 and November 19, 2021, Bridge Shipping Ltd. and Joanna Maritime Ltd., respectively, repaid their full amount of outstanding indebtedness amounting to $7.03 million by using the Company’s own funds and became unencumbered. At the same date Jonathan John Shipping Ltd. and Corfu Navigation Ltd. repaid also their indebtedness to the Lender using a new loan facility by Sinopac Capital International (HK) Limited as explained in note (f) below. 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 Shipping 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%.
[3]	On July 29, 2019, the Company signed a term loan facility with Piraeus Bank S.A. (“Piraeus”) 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 installments 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 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.
[4]	On July 30, 2019, the Company signed a term loan facility with HSBC Bank Plc. (“HSBC”) 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 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.
[5]	On November 8, 2019, the Company signed a term loan facility with Piraeus 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 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 November 23, 2021, the Company paid the amount of $1,500,000 that was deferred according to the latest supplemental agreement reducing again the balloon of the loan to $17,400,000. On November 26, 2021, the Company signed a new facility agreement with Piraeus in respect to the existing revolving facility and on November 29, 2021 drew the amount of $16,500,000 in order to finance general corporate needs of the Company. The loan is payable in sixteen consecutive quarterly instalments, the first four in the amount of $1,500,000 each, the next eleven in the amount of $560,000 each and a last instalment of $4,340,000. The loan bears interest at LIBOR plus a margin of 2.60%. The Company paid loan arrangement fees of $115,000 within 2021 for this loan. The security cover ratio covenant for the facility was set to 125%, the same with the existing facility.
[6]	On September 6, 2021, the Company signed a term loan facility with Sinopac Capital International (HK) Limited (“Sinopac”) for an amount of up to $10,000,000, in order to refinance the existing indebtedness of M/V “Aegean Express” and M/V “EM Corfu.”, amounting to $5,525,000 as of the date of refinancing, and for working capital purposes. The facility was available in two advances. Both advances of $3,500,000 and $6,500,000 were drawn on September 9, 2021 by Jonathan John Shipping Ltd. and Corfu Navigation Ltd. as the borrowers. The loan is payable in sixteen consecutive quarterly installments of $500,000 each, followed by a balloon payment of $2,000,000 to be paid together with the last installment in September 2025. The loan bears interest at LIBOR plus a margin of 3.50%. The loan is secured with the following: (i) first priority mortgages over M/V “Aegean Express” and M/V “EM Corfu”, (ii) first assignment of earnings and insurance of the abovementioned vessels and (iii) other covenants and guarantees similar to the remaining loans of the Company. The security cover ratio covenant for this facility stands at 120%. The Company paid loan arrangement fees of $225,000 for this loan.
[7]	On October 22, 2021, the Company signed a term loan facility with HSBC, and on October 26, 2021, a loan of $15,000,000 was drawn by Jonathan Shipowners Ltd. in order to post-delivery finance part of the acquisition cost of M/V “Jonathan P” and to finance general corporate purposes of the Company. The loan is payable in twelve consecutive quarterly installments of $1,100,000 followed by a balloon payment of $1,800,000 payable together with the last installment in October 2024. The loan bears interest at LIBOR plus a margin of 2.35%. The loan is secured with the following: (i) first priority mortgage over M/V “Jonathan P”, (ii) first assignment of earnings and insurance of the abovementioned vessel and (iii) other covenants and guarantees similar to the remaining loans of the Company. The security cover ratio covenant for this facility stands at 130%. The Company paid loan arrangement fees of $117,500 for this loan.
[8]	On December 14, 2021, the Company signed a term loan facility with Eurobank Ergasias S.A., and a loan of $34,000,000 was drawn by Marcos Shipping Ltd. in order to finance part of the acquisition cost of M/V “Marcos V”. The loan is payable in sixteen consecutive quarterly installments, comprising twelve installments of $2,000,000 followed by four installments of $750,000 each and by a balloon payment of $7,000,000 payable together with the last installment in December 2025. The loan bears interest at LIBOR plus a margin of 2.80%. The loan is secured with the following: (i) first priority mortgage over M/V “Marcos V”, (ii) first assignment of earnings and insurance of the abovementioned vessel and (iii) other covenants and guarantees similar to the remaining loans of the Company. The security cover ratio covenant for this facility stands at 120%. The Company paid loan arrangement fees of $300,000 for this loan.

Note 9 - Long-term Bank Loans_3

Note 9 - Long-term Bank Loans - Summary of Future Annual Loan Repayments for Long-term Debt (Details)	Dec. 31, 2021USD ($)
2022	$ 29,284,460
2023	51,765,000
2024	18,440,000
2025	19,520,000
Total	$ 119,009,460

Note 10 - Income Taxes (Details

Note 10 - Income Taxes (Details Textual)	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Effective United States Tax on U.S. Source Shipping	4.00%	4.00%	4.00%

Note 11 - Commitments and Con_2

Note 11 - Commitments and Contingencies (Details Textual)	6 Months Ended	12 Months Ended
	Dec. 31, 2021USD ($)	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Jun. 29, 2021USD ($)
Future Gross Minimum Revenues Under Non-cancellable Time Charter Agreements	$ 281,900,000	$ 281,900,000
Future Gross Minimum Revenues Under Non-cancellable Time Charter Agreements, Due in Rolling Year One	122,400,000	122,400,000
Future Gross Minimum Revenues Under Non-cancellable Time Charter Agreements, Due in Rolling Year Two	91,000,000	91,000,000
Future Gross Minimum Revenues Under Non-cancellable Time Charter Agreements, Due in Rolling Year Three	$ 68,500,000	68,500,000
Payments for Vessels Under Construction		$ 7,615,958	$ 0	$ 0
Eco Design Fuel Efficient Containerships [Member]
Number of Vessels Under Construction	2	2			2
Construction of Vessels, Amount to Be Financed with a Combination of Debt and Equity	$ 76,100,000	$ 76,100,000			$ 76,100,000
Payments for Vessels Under Construction	7,600,000	7,600,000
Construction of Vessel, Future Minimum Payments Due, Next Twelve Months	19,000,000	19,000,000
Construction of Vessel, Future Minimum Payments Due in Two Years	$ 49,500,000	$ 49,500,000

Note 12 - Stock Incentive Pla_2

Note 12 - Stock Incentive Plan (Details Textual)	Nov. 19, 2021shares	Nov. 05, 2020shares	Nov. 04, 2019shares	Nov. 21, 2018shares	Nov. 02, 2017shares	Jul. 31, 2014shares	Dec. 31, 2021USD ($)shares	Dec. 31, 2020USD ($)$ / sharesshares	Dec. 31, 2019USD ($)shares
Share-based Payment Arrangement, Expense | $							$ 182,324	$ 121,631	$ 97,919
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $							$ 1,265,365
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)							10 months 9 days
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)							49,650	45,900	15,444
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period (in shares)							0	817	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 Compensation Arrangement by Share-based Payment Award, Equity Instruments Other Than Options, Granted in Period, Fair Value | $							$ 1,303,809	$ 124,389	$ 125,560
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
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)	27,700	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)	21,950	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%
The 2014 Plan [Member] | Restricted Stock [Member] | The 21 Key Persons [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)	49,650
Number of Key People Issued Awards	21
The 2014 Plan [Member] | Restricted Stock [Member] | The 21 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 21 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 12 - Stock Incentive Pla_3

Note 12 - Stock Incentive Plan - Summary of the Status of the Company's Non-vested Shares (Details) - Restricted Stock [Member] - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
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
Granted (in shares)	49,650	45,900	15,444
Granted, weighted average grant date fair value (in dollars per share)	$ 26.26	$ 2.71	$ 8.13
Vested (in shares)	(30,360)	(15,064)	(14,108)
Vested, weighted average grant date fair value (in dollars per share)	$ 3.47	$ 8.34	$ 11.01
Non-vested (in shares)	72,593	53,303	23,284
Non-vested, weighted average grant date fair value (in dollars per share)	$ 19.05	$ 3.46	$ 8.28
Forfeited (in shares)	0	(817)	0
Forfeited, weighted average grant date fair value (in dollars per share)		$ 8.39

Note 13 - Earnings (Loss) Per_3

Note 13 - Earnings (Loss) Per Share (Details Textual) - shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Weighted Average Number Diluted Shares Outstanding Adjustment, Total (in shares)	16,500	0	0
Unvested Incentive Award Shares [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)		53,303	23,284
Series B Preferred Shares [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)		8,365	8,000

Note 13 - Earnings (Loss) Per_4

Note 13 - Earnings (Loss) Per Share - Summary of Basic and Diluted Loss Per Common Share (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Net (loss) / income	$ 42,963,660	$ 4,041,431	$ (1,682,671)
Dividends to Series B preferred shares	(255,324)	(693,297)	(1,271,782)
Preferred deemed dividend	(345,628)	0	(504,577)
Net (loss) / income attributable to common shareholders	$ 42,362,708	$ 3,348,134	$ (3,459,030)
Weighted average common shares –outstanding, basic (in shares)	6,976,905	5,753,917	2,861,928
Basic (loss) / earnings per share (in dollars per share)	$ 6.07	$ 0.58	$ (1.21)
Dilutive effect of non-vested shares (in shares)	16,500	0	0
Weighted average common shares –outstanding, diluted (in shares)	6,993,405	5,753,917	2,861,928
Diluted (loss) / earnings per share (in dollars per share)	$ 6.06	$ 0.58	$ (1.21)
Series B Preferred Stock [Member]
Dividends to Series B preferred shares	$ (255,324)	$ (693,297)	$ (1,271,782)

Note 14 - Voyage Expenses and_3

Note 14 - Voyage Expenses and Vessel Operating Expenses - Summary of Voyage, Vessel, Operating Expenses and Commissions (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Voyage expenses	$ 624,734	$ 1,334,259	$ 1,055,408
Vessel operating expenses	29,739,437	32,219,689	23,983,282
Port Charges and Canal Dues [Member]
Voyage expenses	253,855	451,586	251,197
Bunkers [Member]
Voyage expenses	370,879	882,673	804,211
Crew Wages and Related Costs [Member]
Vessel operating expenses	15,961,904	17,866,847	13,111,682
Insurance [Member]
Vessel operating expenses	2,917,042	2,947,937	1,844,088
Repairs and Maintenance [Member]
Vessel operating expenses	1,247,176	1,316,864	1,110,995
Lubricants [Member]
Vessel operating expenses	2,471,994	2,609,647	2,029,230
Spares and Consumable Stores [Member]
Vessel operating expenses	5,784,004	6,245,518	4,758,290
Professional and Legal Fees [Member]
Vessel operating expenses	212,108	255,948	259,311
Other Vessel Operating Expenses [Member]
Vessel operating expenses	$ 1,145,209	$ 976,928	$ 869,686

Note 15 - Derivative Financia_3

Note 15 - Derivative Financial Instruments (Details Textual) - Interest Rate Swap [Member] $ in Millions	Dec. 31, 2021USD ($)	Oct. 12, 2021USD ($)	Apr. 16, 2020USD ($)	Nov. 28, 2017	Nov. 28, 2016	Oct. 17, 2014USD ($)
Derivative, Notional Amount	$ 40
Eurobank [Member]
Derivative, Number of Instruments Held, Total						1
Derivative, Notional Amount		$ 10	$ 30			$ 10
Derivative, Average Fixed Interest Rate						1.97%
Derivative, Fixed Interest Rate		1.09%	0.78%	3.55%	0.95%	0.50%

Note 15 - Derivative Financia_4

Note 15 - Derivative Financial Instruments - Derivatives Not Designated as Hedging Instruments by Account Type (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Interest rate swap contracts	$ 540,753	$ 0
Total derivative assets	540,753	0
Interest rate swap contract	0	203,553
Interest rate swap contracts	952,666	362,195
Total derivative liabilities	$ 952,666	$ 565,748

Note 15 - Derivative Financia_5

Note 15 - Derivative Financial Instruments - Gain or Loss on Derivatives Not Designated as Hedging Instruments (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Gain (loss) on derivatives	$ (27,141)	$ (587,988)	$ (2,885)
Not Designated as Hedging Instrument [Member]
Gain (loss) on derivatives	(27,141)	587,988	(2,885)
Not Designated as Hedging Instrument [Member] | Interest Rate Contracts, Unrealized (Loss) / Gain [Member]
Gain (loss) on derivatives	153,835	(565,748)	0
Not Designated as Hedging Instrument [Member] | Interest Rate Contracts, Realized (Loss) / Gain [Member]
Gain (loss) on derivatives	$ (180,976)	$ (22,240)	$ (2,885)

Note 16 - Preferred Shares (Det

Note 16 - Preferred Shares (Details Textual) - USD ($)	Jan. 29, 2023	Jan. 29, 2021	Jun. 10, 2019	Jan. 29, 2019	May 30, 2018	Jan. 27, 2014	Jan. 29, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Payments for Repurchase of Redeemable Preferred Stock								$ 2,000,000	$ 0	$ 11,686,000
Dividends, Preferred Stock, Total								255,324	693,297	1,271,782
Dividends, Paid-in-kind, Total								$ 0	365,059	78,640
Dividends, Preferred Stock, Cash									150,000
Dividends Payable									$ 170,000
Conversion of Series B Preferred Shares into Common Stocks [Member]
Conversion of Stock, Shares Converted (in shares)							6,365	6,365
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		14.00%	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		$ 2,000,000	$ 11,700,000
Percentage of Outstanding Preferred Stock Redeemed			59.40%
Preferred Stock, Value, Outstanding			$ 8,000,000
Preferred Stock Deemed Dividend							$ 345,628			504,577
Stock Redeemed or Called During Period, Shares (in shares)		2,000
Preferred Stock, Dividend Rate Per Annum, Cash		8.00%					8.00%
Preferred Stock, Dividend Rate Per Annum, Paid-in-kind		9.00%					9.00%
Dividends, Preferred Stock, Total										1,270,000
Dividends, Paid-in-kind, Total										80,000
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] | Forecast [Member]
Preferred Stock, Dividend Rate, Percentage	14.00%
Series B Preferred Stock [Member] | Maximum [Member] | First Five Years [Member]
Preferred Stock, Dividend Rate, Percentage						5.00%
Series B Preferred Stock [Member] | Maximum [Member] | Next Two Years [Member]
Preferred Stock, Dividend Rate, Percentage				12.00%
Series B Preferred Stock [Member] | Maximum [Member] | After Two Years [Member]
Preferred Stock, Dividend Rate, Percentage				14.00%
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%
Common Stock, Value, Distributed					$ 2,254,830
Eurodry [Member] | Series B Preferred Stock [Member]
Preferred Stock Distributed (in shares)					19,042
Eurodry [Member] | Ordinary Preferred Stock [Member]
Preferred Stock, Value, Distributed					$ 14,500,000
Eurodry [Member] | Preferred Stock Issued as Dividends [Member]
Preferred Stock, Value, Distributed					$ 3,692,131

Note 16 - Preferred Shares - Di

Note 16 - Preferred Shares - Dividends Series B Preferred Shares (Details) - USD ($)	1 Months Ended	12 Months Ended
	Jan. 29, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Balance (in shares)	8,365	8,365	8,000	19,605
Balance	$ 8,019,636	$ 8,019,636	$ 7,654,577	$ 18,757,361
Dividends declared (in shares)			365	81
Dividends declared			$ 365,059	$ 78,639
Redemption of Preferred shares (in shares)		(2,000)		(11,686)
Redemption of Preferred shares		$ (2,000,000)		$ (11,686,000)
Preferred deemed dividend		$ 345,628	$ 0	$ 504,577
Balance (in shares)		0	8,365	8,000
Balance		$ 0	$ 8,019,636	$ 7,654,577
Conversion of Series B Preferred Shares into Common Stocks [Member]
Preferred shares converted to common shares (in shares)	(6,365)	(6,365)
Preferred shares converted to common shares		$ (6,365,264)
Ordinary Preferred Stock [Member]
Balance	$ 6,849,522	6,849,522	6,849,522	14,500,000
Dividends declared			0	0
Redemption of Preferred shares		(2,000,000)		(8,155,055)
Preferred deemed dividend		345,628		504,577
Balance		0	6,849,522	6,849,522
Ordinary Preferred Stock [Member] | Conversion of Series B Preferred Shares into Common Stocks [Member]
Preferred shares converted to common shares		(5,195,150)
Preferred Stock Issued as Dividends [Member]
Balance	$ 1,170,114	1,170,114	805,055	4,257,361
Dividends declared			365,059	78,639
Redemption of Preferred shares		0		(3,530,945)
Preferred deemed dividend		0		0
Balance		0	$ 1,170,114	$ 805,055
Preferred Stock Issued as Dividends [Member] | Conversion of Series B Preferred Shares into Common Stocks [Member]
Preferred shares converted to common shares		$ (1,170,114)

Note 17 - Financial Instrumen_3

Note 17 - Financial Instruments (Details Textual) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Dec. 31, 2021
M/V EM Oinousses [Member]
Assets Held-for-sale, Not Part of Disposal Group, Current, Total	$ 3,770
Property, Plant, and Equipment, Fair Value Disclosure	3,870
Vessel Held for Sale, Estimated Sale Costs	220
Impairment of Long-Lived Assets to be Disposed of	$ 120
Interest Rate Swap [Member]
Derivative, Notional Amount		$ 40,000

Note 17 - Financial Instrumen_4

Note 17 - Financial Instruments - Recurring Fair Value Measurements (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Interest rate swap contracts	$ 540,753	$ 0
Interest rate swap contracts, long-term portion	952,666	362,195
Interest rate swap contract	0	203,553
Interest rate swap contracts	952,666	362,195
Fair Value, Recurring [Member]
Interest rate swap contracts	540,753
Interest rate swap contracts, long-term portion	952,666	0
Interest rate swap contract		0
Interest rate swap contracts	952,666	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Interest rate swap contracts	0
Interest rate swap contracts, long-term portion	0	362,195
Interest rate swap contract		203,553
Interest rate swap contracts	0	362,195
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Interest rate swap contracts	540,753
Interest rate swap contracts, long-term portion	952,666	0
Interest rate swap contract		0
Interest rate swap contracts	952,666	$ 0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Interest rate swap contracts	0
Interest rate swap contracts, long-term portion	0
Interest rate swap contracts	$ 0

Note 18 - Common Stock (Details

Note 18 - Common Stock (Details Textual)	Nov. 24, 2020USD ($)shares	Nov. 16, 2020shares	Dec. 19, 2019	Dec. 18, 2019	Nov. 04, 2019shares	Jun. 30, 2021USD ($)shares	Feb. 28, 2021USD ($)shares	Aug. 31, 2020USD ($)	Nov. 30, 2019USD ($)shares	Oct. 31, 2019USD ($)shares	Sep. 30, 2019USD ($)	Aug. 30, 2019shares	Dec. 31, 2021USD ($)$ / sharesshares	Dec. 31, 2020USD ($)$ / sharesshares	Dec. 31, 2019USD ($)shares	Mar. 31, 2020$ / 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													$ 743,553	$ 715,550	$ 6,853,101
Stock Issued During Period, Value, Vessel Acquisition															13,218,662
Stock Issued During Period, Value, New Issues													611,233	496,718	775,532
Proceeds from Related Party Debt													0	0	5,000,000
Conversion of Stock, Amount Issued													$ 6,365,264	$ 0	$ 0
Conversion of Series B Preferred Stock to Common Stock [Member]
Conversion of Stock, Shares Converted (in shares) | shares						6,365
Conversion of Stock, Shares Issued (in shares) | shares						453,044
Conversion of Stock, Amount Issued						$ 6,365,000
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
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													49,650	45,900	15,444
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
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
ATM Common Stock Offering [Member]
Stock Issued During Period, Shares, New Issues (in shares) | shares							82,901			144,727
Proceeds from Issuance of Common Stock							$ 740,000			$ 900,000
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															$ 6,000,000
ATM [Member]
Proceeds from Issuance of Common Stock								$ 700,000
Stock Issued During Period, Value, New Issues								$ 200,000

Note 19 - Other Operating Inc_2

Note 19 - Other Operating Income (Details Textual) - USD ($)	1 Months Ended	9 Months Ended	12 Months Ended
	Jan. 31, 2020	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Jun. 30, 2017
Other Operating Expenses, Income from Collection of Previously Written off Accounts			$ 200,000
Other Operating Expenses, Income			1,298,318	$ 2,687,205	$ 0
Alterwall Business Inc. Vs. Fuel Oil Supplier [Member] | Settled Litigation [Member] | Alterwall Business Inc. [Member]
Payments for Legal Settlements			60,000
Alterwall Business Inc. Vs. Fuel Oil Supplier [Member] | Pending Litigation [Member] | Alterwall Business Inc. [Member]
Gain (Loss) Related to Litigation Settlement, Total			100,000
Estimated Litigation Liability						$ 150,000
M/V EM Oinousses [Member]
Vessel Evaluation, Unrepaired Damage Claim	$ 2,700,000
M/V EM Oinousses [Member] | Other Operating Income [Member]
Vessel Evaluation, Other Operating Income				$ 2,700,000
M/V Manolis P [Member]
Other Operating Expenses, Income		$ 1,000,000	$ 1,000,000

Note 20 - Subsequent Events (De

Note 20 - Subsequent Events (Details Textual) - Subsequent Event [Member] - USD ($) $ in Millions	Mar. 18, 2022	Jan. 28, 2022
Eco Design Fuel Efficient Containerships for Two Vessels [Member]
Construction of Vessels, Amount to Be Financed with a Combination of Debt and Equity		$ 85
Eco Design Fuel Efficient Containerships for Three Vessels [Member]
Construction of Vessels, Amount to Be Financed with a Combination of Debt and Equity	$ 102