Euroseas (ESEA) 20-F 28 Apr 23 2022 FY Annual report (foreign) Financial data

Document And Entity Information

Document And Entity Information	12 Months Ended
	Dec. 31, 2022 shares
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	2022
Document Type	20-F
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
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	7,116,206
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
Auditor Firm ID	1163
Auditor Name	Deloitte Certified Public Accountants S.A
Auditor Location	Athens, Greece
Document Accounting Standard	U.S. GAAP
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, 2022	Dec. 31, 2021
Current assets
Cash and cash equivalents	$ 25,845,333	$ 26,530,944
Restricted cash	2,193,173	167,285
Trade accounts receivable, net	572,961	1,274,729
Other receivables	5,515,311	1,722,885
Inventories	2,306,177	2,274,454
Prepaid expenses	350,206	382,729
Derivatives	1,142,682	540,753
Asset held for sale	8,909,172	0
Due from related company	32,146	0
Total current assets	46,867,161	32,893,779
Long-term assets:
Vessels, net	216,570,426	176,111,486
Advances for vessels under construction	59,083,594	7,615,958
Restricted cash	3,400,000	4,800,000
Derivatives	2,669,244	0
Total assets	328,590,425	221,421,223
Current liabilities
Long-term bank loans, current portion	55,419,815	29,034,049
Trade accounts payable	5,160,068	2,804,194
Accrued expenses	1,756,383	1,702,925
Liability associated with asset held for sale	3,556,641	0
Accrued dividends	66,375	0
Deferred revenues	7,730,422	3,293,986
Due to related company	0	309,970
Total current liabilities	73,689,704	37,145,124
Long-term liabilities
Long-term bank loans, net of current portion	51,812,086	89,004,951
Derivatives	0	952,666
Fair value of below market time charters acquired	34,933,438	17,461,586
Total long-term liabilities	86,745,524	107,419,203
Total liabilities	160,435,228	144,564,327
Commitments and contingencies
Shareholders’ equity
Common stock (par value $0.03, 200,000,000 shares authorized, 7,294,541 and 7,116,206 issued and outstanding)	213,486	218,836
Additional paid-in capital	260,539,222	264,609,233
Accumulated deficit	(92,597,511)	(187,971,173)
Total shareholders’ equity	168,155,197	76,856,896
Total liabilities and shareholders’ equity	$ 328,590,425	$ 221,421,223

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares	Dec. 31, 2022	Dec. 31, 2021
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)	7,116,206	7,294,541
Common stock, shares outstanding (in shares)	7,116,206	7,294,541

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Time charter revenue	$ 189,630,465	$ 97,977,389	$ 55,681,124
Commissions (including $504,892, $1,075,274 and $2,370,381, respectively, to related party)	(6,936,221)	(4,085,717)	(2,378,007)
Net revenue	182,694,244	93,891,672	53,303,117
Operating expenses / (income)
Voyage expenses	2,476,854	624,734	1,334,259
Vessel operating expenses (including $304,515, $233,635 and $353,842, respectively, to related party)	37,667,191	29,739,437	32,219,689
Dry-docking expenses	9,506,675	4,094,693	536,199
Vessel depreciation	18,522,217	7,203,198	6,605,976
Related party management fees	4,920,063	4,294,789	5,293,199
General and administrative expenses (including $2,000,000, $2,460,000 and $2,420,000, respectively, to related party)	4,571,030	3,491,120	3,041,435
Net (gain) / loss on sale of vessels (including $153,750, $0 and $0, respectively, to related party)	0	9,417	(2,453,736)
Other operating income	(1,610,000)	(1,298,318)	(2,687,205)
Loss on write-down of vessel held for sale	0	0	121,165
Total operating expenses, net	76,054,030	48,159,070	44,010,981
Operating income	106,640,214	45,732,602	9,292,136
Other (expenses)/ income
Interest and other financing costs (including $361,283, $50,000 and $0, respectively, to related party)	(5,072,619)	(2,779,729)	(4,125,150)
Loss on debt extinguishment	0	0	(491,571)
(Loss) / gain on derivatives, net	4,355,657	(27,141)	(587,988)
Foreign exchange (loss) / gain	54,235	34,418	(63,007)
Interest income	267,429	3,510	17,011
Other expenses, net	(395,298)	(2,768,942)	(5,250,705)
Net income	106,244,916	42,963,660	4,041,431
Dividends to Series B preferred shares	0	(255,324)	(693,297)
Preferred deemed dividend	0	(345,628)	0
Net income attributable to common shareholders	$ 106,244,916	$ 42,362,708	$ 3,348,134
Weighted average number of shares outstanding during the year, basic (in shares)	7,181,561	6,976,905	5,753,917
Earnings per share attributable to common shareholders - basic (in dollars per share)	$ 14.79	$ 6.07	$ 0.58
Weighted average number of shares outstanding during the year, diluted (in shares)	7,190,107	6,993,405	5,753,917
Earnings per share attributable to common shareholders - diluted (in dollars per share)	$ 14.78	$ 6.06	$ 0.58

Consolidated Statements of Op_2

Consolidated Statements of Operations (Parentheticals) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Commissions, related party	$ 2,370,381	$ 1,075,274	$ 504,892
Vessel operating expenses, related party	353,842	233,635	304,515
General and administrative expenses, related party	2,420,000	2,460,000	2,000,000
Net gain on sale of vessels, related party	0	0	153,750
Interest and other financing costs, related party	$ 0	$ 50,000	$ 361,283

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]		Retained Earnings [Member]	Total
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 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 (in shares)	161,357
Issuance of shares for contingent consideration in connection with acquisition of vessels	$ 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	6,708,946
Balance at Dec. 31, 2020	$ 201,268	257,467,980	[1]	(230,333,881)	27,335,367
Net income	0	0		42,963,660	42,963,660
Dividends to Series B preferred shares	$ 0	0	[1]	(255,324)	(255,324)
Issuance of shares (in shares)	82,901
Issuance of shares	$ 2,487	608,746	[1]	0	611,233
Issuance of restricted shares for stock incentive award and share-based compensation (in shares)	49,650
Issuance of restricted shares for stock incentive award and share-based compensation	$ 1,490	180,834	[1]	0	182,324
Issuance of shares in connection with related party loan converted to equity (in shares)	453,044
Issuance of shares in connection with related party loan converted to equity	$ 13,591	6,351,673		0	6,365,264
Preferred deemed dividend	$ 0	0	[1]	(345,628)	(345,628)
Balance (in shares) at Dec. 31, 2021	7,294,541
Balance at Dec. 31, 2021	$ 218,836	264,609,233	[1]	(187,971,173)	76,856,896
Net income	$ 0	0	[1]	106,244,916	106,244,916
Issuance of restricted shares for stock incentive award and share-based compensation (in shares)	60,000
Issuance of restricted shares for stock incentive award and share-based compensation	$ 1,800	949,585		0	951,385
Repurchase and cancellation of common shares (in shares)	(238,335)
Repurchase and cancellation of common shares	$ (7,150)	(5,019,596)		0	(5,026,746)
Dividends declared and paid ($1.50 per share)	$ 0	0		(10,871,254)	(10,871,254)
Balance (in shares) at Dec. 31, 2022	7,116,206
Balance at Dec. 31, 2022	$ 213,486	$ 260,539,222	[1]	$ (92,597,511)	$ 168,155,197
[1]Adjusted to reflect the 1-for-8 reverse stock split effected at the close of trading on December 18, 2019.

Consolidated Statements of Sh_2

Consolidated Statements of Shareholders' Equity (Parentheticals) - $ / shares	1 Months Ended			12 Months Ended
	Nov. 30, 2022	Aug. 31, 2022	May 31, 2022	Dec. 31, 2022
Dividends, per share (in dollars per share)	$ 0.50	$ 0.50	$ 0.50	$ 1.50

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities:
Net income	$ 106,244,916	$ 42,963,660	$ 4,041,431
Adjustments to reconcile net income to net cash provided by operating activities:
Vessel depreciation	(18,522,217)	(7,203,198)	(6,605,976)
Gain on hull & machinery claim	0	0	(2,687,205)
Loss on write-down of vessel held for sale	0	0	121,165
Amortization and write off of deferred charges	342,861	223,492	288,163
Net (gain) / loss on sale of vessels	0	9,417	(2,453,736)
Amortization of fair value of below market time charters acquired	(10,827,595)	(230,112)	(1,714,370)
Share-based compensation	951,385	182,324	121,631
Unrealized loss / (gain) on derivatives	(4,223,839)	(153,835)	565,748
Loss on debt extinguishment	0	0	491,571
Changes in operating assets and liabilities: (Increase) / decrease in:
Trade accounts receivable	701,768	738,294	(1,297,926)
Prepaid expenses	32,523	(138,414)	282,216
Other receivables	(3,792,426)	143,739	47,479
Inventories	(31,723)	(612,032)	226,742
Due from related company	(32,146)	0	0
Increase / (decrease) in:
Due to related company	(309,970)	285,898	(771,490)
Trade accounts payable	2,014,706	(740,664)	(1,008,707)
Accrued expenses	53,458	393,352	(424,901)
Deferred revenues	4,436,436	2,344,622	(24,410)
Net cash provided by operating activities	114,082,571	52,612,939	2,409,377
Cash flows from investing activities:
Cash paid for vessels under construction	(50,866,784)	(7,615,958)	0
Cash paid for capitalized expenses and acquisition of vessels including attached time charter agreements	(39,822,933)	(66,474,058)	(647,069)
Insurance proceeds	0	0	2,343,606
Net proceeds and advances from sale of vessels	3,556,641	(9,417)	14,622,770
Net cash provided by / (used in) investing activities	(87,133,076)	(74,099,433)	16,319,307
Cash flows from financing activities:
Redemption of Series B preferred shares	0	(2,000,000)	0
Proceeds from issuance of common stock, net of commissions paid	0	743,553	715,550
Cash paid for share repurchase	(5,026,746)	0	0
Preferred dividends paid	0	(424,000)	(320,877)
Dividends paid	(10,804,879)	0	0
Offering expenses paid	(27,633)	(123,167)	(184,321)
Loan arrangement fees paid	(115,500)	(758,000)	0
Proceeds from long-term bank loans	19,250,000	75,500,000	0
Repayment of long-term bank loans	(30,284,460)	(23,791,840)	(17,905,920)
Repayment of related party loan	0	(2,500,000)	(625,000)
Net cash (used in) / provided by financing activities	(27,009,218)	46,646,546	(18,320,568)
Net increase / (decrease) in cash, cash equivalents and restricted cash	(59,723)	25,160,052	408,116
Cash, cash equivalents and restricted cash at beginning of year	31,498,229	6,338,177	5,930,061
Cash, cash equivalents and restricted cash at end of year	31,438,506	31,498,229	6,338,177
Cash breakdown
Cash and cash equivalents	25,845,333	26,530,944	3,559,399
Restricted cash, current	2,193,173	167,285	345,010
Restricted cash, long term	3,400,000	4,800,000	2,433,768
Total cash, cash equivalents and restricted cash shown in the statement of cash flows	31,438,506	31,498,229	6,338,177
Supplemental cash flow information
Cash paid for interest, net of capitalized expenses	5,100,982	2,447,089	4,253,625
Financing, and investing activities fees:
Offering expenses accrued	56,877	84,510	75,357
Payment-in-kind dividends	0	0	365,059
Capital expenditures included in liabilities	648,979	690,481	0
Accrued preferred dividends	0	0	168,676
Shares issued as consideration for acquisition of vessels	0	0	548,612
Issuance of shares in connection with Series B Preferred Shares converted to equity	0	6,365,264	0
Dividends declared but not paid	66,375	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	$ 0	$ 2,366,571

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation and General Information	12 Months Ended
	Dec. 31, 2022
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 June 26, 2015, 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 54.1% of the Company’s shares as of December 31, 2022. As of December 31, 2022, February 2023, May 2023 November 2023, December 31, 2022, December 31, 2022. 4 nine twelve December 31, 2023. June 30, 2024, 2024. February 2023, first April 6, 2023 ( 20 not may five February 2023, 9 twelve 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 the Republic of 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 April 6, 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 of Liberia on March 15, 2022, March 18, 2022, 1,800 No. 4248 second 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. ● Dear Panel Shipping Ltd., incorporated in the Republic of Liberia on May 20, 2022, May 20, 2022, 2,800 No. 4251 fourth 2024. ● Symeon Shipping Ltd., incorporated in the Republic of Liberia on May 20, 2022, May 20, 2022, 2,800 No. 4252 fourth 2024. ● Emmanuel Shipping Ltd., incorporated in the Republic of the Marshal Islands on April 27, 2022, 50,796 4,250 2005 May 24, 2022. ● Rena Shipping Ltd., incorporated in the Republic of the Marshal Islands on April 27, 2022, 50,796 4,250 2007 June 27, 2022. During the years ended December 31, 2020, 2021 2022, 10% Year ended December 31, Charterer 2020 2021 2022 Zim Integrated Shipping Services Ltd. - - 21 % Maersk Line A/S 19 % 21 % 21 % Sealand Maersk Asia Pte. Ltd. - - 21 % CMA CGM, Marseille 17 % 24 % 11 % Vasi Shipping Pte. Ltd., Singapore - 15 % - MSC Geneva 18 % - - New Golden Sea Shipping Pte. Ltd., Singapore 10 % - -

Note 2 - Significant Accounting

Note 2 - Significant Accounting Policies	12 Months Ended
	Dec. 31, 2022
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. No allowance for doubtful accounts was recorded for any of the periods presented 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, 2021 2022. 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. 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 2020, 2021 2022 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. Time charter agreements 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 paid-in capital when the offering is completed 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. Share repurchases The Company records the repurchase of its common shares at cost. Until their retirement these common shares are classified as treasury stock, which is a reduction to shareholders’ equity. Treasury shares are included in authorized and issued shares but excluded from outstanding shares. 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, including any related intangible assets and liabilities, 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. 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, 2021 2022, 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 March 2020, No. 2020 04, 848 2020 04” 2020 04 January 2021, 2021 01, 848 2021 01” 848, 848 2020 04 no December 31, 2021. December 31, 2022—12 March 2021, 1 3 6 12 June 30, 2023, 848. 848 may not may 848 December 31, 2022, December 31, 2024, no 848. not 2020 04 2021 01. 2020 04 not

Note 3 - Inventories

Note 3 - Inventories	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Inventory Disclosure [Text Block]	3. Inventories Inventories consisted of the following: 2021 2022 Lubricants 1,851,508 2,306,177 Victualing 105,527 - Bunkers 317,419 - Total 2,274,454 2,306,177

Note 4 - Advances for Vessels U

Note 4 - Advances for Vessels Under Construction - Continued	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Advances for Vessel Under Construction [Text Block]	4. Advances for vessels under construction - Continued On June 29, 2021, two 2,800 first April 6, 2023 second one third 2023, two December 31, 2021 2022, two On January 28, 2022, two 2,800 two first second 2024, two December 31, 2022 two On March 18, 2022, three 1,800 1,800 three second 2024. three December 31, 2022 three On May 20, 2022, two 2,800 two fourth 2024. two December 31, 2022 two Advances for vessels under construction of $7.6 million and $50.6 million as of December 31, 2021 2022, 11

Note 5 - Vessels, Net

Note 5 - Vessels, Net	12 Months Ended
	Dec. 31, 2022
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, 2021 116,331,440 (17,872,993 ) 98,458,447 - Depreciation for the year - (7,203,198 ) (7,203,198 ) - Vessel acquisitions and improvements 84,856,237 - 84,856,237 Balance, December 31, 2021 201,187,677 (25,076,191 ) 176,111,486 - Depreciation for the year - (18,522,217 ) (18,522,217 ) - Vessel held for sale (11,494,650 ) 2,995,781 (8,498,869 ) - Vessel acquisitions and improvements 67,480,026 - 67,480,026 Balance, December 31, 2022 257,173,053 (40,602,627 ) 216,570,426 During the year ended December 31, 2021, two December 31, 2022, five 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 On April 26, 2022, 50,796 4,250 2005 7 May 24, 2022 On April 26, 2022, June 14, 2022, 50,796 4,250 2007 7 June 27, 2022 Sale of vessels The Company considers the potential sale of its vessels, for scrap or further trading, depending on a vessel’s age, any additional capital expenditures required, the expected revenues from continuing to own the vessel and the overall market prospects. On December 23, 2022, 71,366 5,610 2001 fourth 2022 19 December 31, 2022, January 9, 2023. No December 31, 2021. December 31, 2021, 2020. Impairment analysis In light of the economic downturn and the prevailing conditions in the shipping industry, as of December 31, 2022, December 31, 2021, As of December 31, 2022, 9 December 31, 2022,

Note 6 - Accrued Expenses

Note 6 - Accrued Expenses	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	6. Accrued Expenses The accrued expenses consisted of: December 31, 2021 December 31, 2022 Accrued payroll expenses 604,761 218,506 Accrued interest expense 282,724 470,694 Accrued general and administrative expenses 119,750 117,624 Accrued commissions 239,313 79,199 Other accrued expenses 456,377 870,360 Total 1,702,925 1,756,383

Note 7 - Fair Value of Below Ma

Note 7 - Fair Value of Below Market Time Charters Acquired	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Below Market Time Charters Acquired [Text Block]	7. Fair Value of Below Market Time Charters Acquired As part of the acquisition of M/V “Marcos V”, in December 2021, July 2025, 2 As part of the acquisition of M/V “Emmanuel P”, in May 2022, March 2025, 2 As part of the acquisition of M/V “Rena P”, in June 2022, February 2025, 2 For the years ended December 31, 2020, 2021 2022, The unamortized balance of this intangible liability as of December 31, 2022 2,28 July 2025 As of December 31, 2022, For the year ending December 31, Below market acquired charters 2023 (15,411,223 ) 2024 (15,223,724 ) 2025 (4,298,491 ) Total $ (34,933,438 )

Note 8 - Related Party Transact

Note 8 - Related Party Transactions	12 Months Ended
	Dec. 31, 2022
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 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 provided for a 5% discount of the daily vessel management fee for the period during which the number of the Euroseas-owned vessels (including vessels in which Euroseas is a part owner) managed by the Manager was greater than 20 685 January 1, 2018 five January 1, 2023 December 31, 2020 2021. January 1, 2022, December 31, 2022, December 31, 2022, January 1, 2023, December 31, 2022, December 31, 2022, Vessel management fees paid to the Manager amounted to $5,293,199, $4,294,789 and $4,920,063 in 2020, 2021 2022, In addition to the vessel management services, the Manager provides executive services to the Company. The amount of executive compensation was set at $2,000,000 December 31, 2020, 2021 2022. 2020, 2021 2022, December 31, 2021 2022, January 1. 2023 $2,150,000 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, 2021, December 31, 2022, On September 30, 2019, December 31, 2020. second 2020 November 2020, 18. On November 1, 2019, second December 31, 2020 2021, March 2021. 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 $153,750, nil nil 2020, 2021 2022, 1% October 2021, May June 2022, two 2020, 2021 2022, 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%; 2020, 2021, 2022,

Note 9 - Long-term Bank Loans

Note 9 - Long-term Bank Loans	12 Months Ended
	Dec. 31, 2022
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, 2021 December 31, 2022 Noumea Shipping Ltd. / Gregos Shipping Ltd. (a) 9,375,000 7,875,000 Diamantis Shipowners Ltd. (b) 2,384,460 - Kea Shipowners Ltd. / Spetses Shipowners Ltd. / Hydra Shipowners Ltd. (c) 8,450,000 6,650,000 Antwerp Shipping Ltd. / Busan Shipping Ltd. / Keelung Shipping Ltd. / Oakland Shipping Ltd. (d) 40,300,000 31,100,000 Jonathan John Shipping Ltd. / Corfu Navigation Ltd. (e) 9,500,000 7,500,000 Jonathan Shipowners Ltd. (f) 15,000,000 10,600,000 Marcos Shipping Ltd. (g) 34,000,000 26,000,000 Rena Shipping Ltd. / Emmanuel Shipping Ltd. (h) - 18,250,000 119,009,460 107,975,000 Less: Current portion (29,284,460 ) (55,765,000 ) Long-term portion 89,725,000 52,210,000 Deferred charges, current portion 250,411 345,185 Deferred charges, long-term portion 720,049 397,914 Long-term bank loans, current portion net of deferred charges 29,034,049 55,419,815 Long-term bank loans, long-term portion net of deferred charges 89,004,951 51,812,086 The future annual loan repayments are as follows: To December 31: 2023 55,765,000 2024 22,440,000 2025 29,770,000 Total 107,975,000 (a) On May 30, 2019, 55% two May 2023. June 26, 2020, 2020 May 2023, first first (b) On July 29, 2019, not July 31, 2019, July 2022. July 29, 2020, third fourth 2020 July 2022, July 29, 2022, (c) On July 30, 2019, August 8, 2019. February 2023. first first February 6, 2023, three (d) On November 8, 2019, November 18, 2019. November 2023. first first 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 2021 (f) On October 22, 2021, October 26, 2021, twelve October 2024. first first 2021 December 23, 2022, (g) On December 14, 2021, sixteen twelve four December 2025. first first 2022 (h) On September 13, 2022, June 2025. first first 2022 December 23, 2022, 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, 2021 2022, December 31, 2022, Interest expense for the years ended December 31, 2020, 2021 2022 December 31, 2022

Note 10 - Income Taxes

Note 10 - Income Taxes	12 Months Ended
	Dec. 31, 2022
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 Under the Code, a corporation will be exempt from U.S. federal income tax if its stock is primarily and regularly traded on an established securities market in its country of organization, in another country that grants an “equivalent exemption” to United States corporations, or in the United States, which is referred to as the “Publicly Traded Test”. Under IRS regulations, a Company’s shares will be considered to be regularly traded on an established securities market if (i) one 50% 60 one sixth 10% not 50% 5% “5% For the taxable years 2020, 2021 2022 5% 5% not 50%

Note 11 - Commitments and Conti

Note 11 - Commitments and Contingencies	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	11. Commitments and Contingencies There are no not As of December 31, 2022, December 31, 2023, December 31, 2024, December 31, 2025 December 31, 2026. one may not not As of December 31, 2022, nine 2021 2022, December 31, 2022, December 31, 2023 December 31, 2024.

Note 12 - Stock Incentive Plan

Note 12 - Stock Incentive Plan	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Share-Based Payment Arrangement [Text Block]	12. Stock Incentive Plan In November 2021, "2021 2018 “2018 2021 2021 2021 2018 may 2018 2018 2021 three December 31, 2022 a) On November 21, 2018 November 16, 2019 November 16, 2020; b) On November 4, 2019 July 1, 2020 July 1, 2021; c) On November 5, 2020 November 16, 2021 November 16, 2022; d) On November 19, 2021 July 1, 2022 July 1, 2023; e) On November 3, 2022 November 16, 2023 November 15, 2024; 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 compensation cost that has been charged against income for awards was $121,631, $182,324 and $951,385, for the years ended December 31, 2020, 2021 2022, A summary of the status of the Company’s non-vested shares as of December 31, 2020, 2021 2022, December 31, 2020, 2021 2022, Non-vested Shares Number of shares Weighted-Average Grant-Date Fair Value 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 Non-vested on January 1, 2022 72,593 19.05 Granted 60,000 18.98 Vested (48,350 ) 17.05 Non-vested on December 31, 2022 84,243 20.15 As of December 31, 2022, 2021 December 31, 2020, 2021 2022

Note 13 - Earnings Per Share

Note 13 - Earnings Per Share	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Earnings Per Share [Text Block]	13. Earnings Per Share Basic and diluted earnings per common share is computed as follows: 2020 2021 2022 Income: Net income 4,041,431 42,963,660 106,244,916 Dividends to Series B preferred shares (693,297 ) (255,324 ) - Preferred deemed dividend - (345,628 ) - Net income attributable to common shareholders 3,348,134 42,362,708 106,244,916 Weighted average common shares –outstanding, basic 5,753,917 6,976,905 7,181,561 Basic earnings per share 0.58 6.07 14.79 Effect of dilutive securities: Dilutive effect of non-vested shares - 16,500 8,546 Weighted average common shares –outstanding, diluted 5,753,917 6,993,405 7,190,107 Diluted earnings per share 0.58 6.06 14.78 For the years ended December 31, 2020, nil 2020. December 31, 2020, December 31, 2021 2022,

Note 14 - Voyage Expenses and V

Note 14 - Voyage Expenses and Vessel Operating Expenses	12 Months Ended
	Dec. 31, 2022
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, 2020 2021 2022 Voyage expenses Port charges and canal dues 451,586 253,855 523,943 Bunkers 882,673 370,879 1,952,911 Total 1,334,259 624,734 2,476,854 Vessel operating expenses Crew wages and related costs 17,866,847 15,961,904 19,170,601 Insurance 2,947,937 2,917,042 4,364,430 Repairs and maintenance 1,316,864 1,247,176 1,563,886 Lubricants 2,609,647 2,471,994 3,426,772 Spares and consumable stores 6,245,518 5,784,004 7,443,502 Professional and legal fees 255,948 212,108 272,142 Other 976,928 1,145,209 1,425,858 Total 32,219,689 29,739,437 37,667,191

Note 15 - Derivative Financial

Note 15 - Derivative Financial Instruments	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Derivative Instruments and Hedging Activities Disclosure [Text Block]	15. Derivative Financial Instruments Interest rate swaps On April 16, 2020, April 24, 2020 April 24, 2025. 3 On October 12, 2021, one November 1, 2021 November 1, 2025. 3 On June 16, 2022, one January 3, 2023 January 3, 2028. The interest rate swap contracts did not December 31, 2021 2022. Derivatives not designated as hedging instruments Balance Sheet Location December 31, 2021 December 31, 2022 Interest rate swap contracts Current assets – Derivatives 540,753 1,142,682 Interest rate swap contracts Long - term assets – Derivatives - 2,669,244 Total derivative assets 540,753 3,811,926 Interest rate swap contracts Long-term liabilities – Derivatives 952,666 - Total derivative liabilities 952,666 - Derivatives not designated as hedging instruments Location of gain (loss) recognized Year Ended December 31, 2020 Year Ended December 31, 2021 Year Ended December 31, 2022 Interest rate swap contracts– Unrealized (loss) / gain (Loss) / gain on derivatives, net (565,748 ) 153,835 4,223,839 Interest rate swap contracts- Realized (loss) / gain (Loss) / gain on derivatives, net (22,240 ) (180,976 ) 131,818 Total net (loss) / gain on interest rate swap contracts (587,988 ) (27,141 ) 4,355,657

Note 16 - Preferred Shares

Note 16 - Preferred Shares	12 Months Ended
	Dec. 31, 2022
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, 2020 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 and 2022 - - - - 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. In January 2021, January 29, 2023, June 2021, 1 2 For the year ended 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, 2022
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, derivatives and amount due from related company. The principal financial liabilities of the Company consist of long-term bank loans, trade accounts payable and accrued expenses. Interest rate risk The Company enters into interest rate swap contracts as economic hedges to manage some of its exposure to variability in its floating rate long-term bank loans. Under the terms of the interest rate swaps the Company and the bank agreed 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, 2022, three 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 may 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, 2022 Total (Level 1) (Level 2) (Level 3) Assets Interest rate swap contracts, current portion $ 1,142,682 - $ 1,142,682 - Interest rate swap contracts, long-term portion $ 2,669,244 - $ 2,669,244 - 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 - Asset Measured at Fair Value on a Non-recurring Basis The estimated fair values of the Company’s financial instruments such as cash and cash equivalents and restricted cash, trade account payable, accrued expenses and amount due from related company approximate their individual carrying amounts as of December 31, 2021 2022, 1 December 31, 2022, 2

Note 18 - Common Stock

Note 18 - Common Stock	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Equity [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 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 On November 24, 2020, September 2019, fifteen During February 2021, May 12, 2020, May 29, 2020 February 3, 2021 On June 30, 2021, 16 In addition, during the year ended December 31, 2021, 12 In May 2022, 12 not may December 31, 2022, In addition, during the year ended December 31, 2022, 12 In May 2022, December 31, 2022, May, August November

Note 19 - Other Operating Incom

Note 19 - Other Operating Income	12 Months Ended
	Dec. 31, 2022
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. In the year ended December 31, 2022, December 31, 2022.

Note 20 - Subsequent Events

Note 20 - Subsequent Events	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Subsequent Events [Text Block]	20. Subsequent Events (a) On January 9, 2023, 23 December, 2022, 5 (b) On January 26, 2023, April 2025 (c) During January, February, March April 2023, (d) On March 30, 2023, No. 4201 March 31 st 2023. twenty eight twelve sixteen first No. 4201 first (e) On April 6, 2023 first

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2022
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. No allowance for doubtful accounts was recorded for any of the periods presented
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, 2021 2022.
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. 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 2020, 2021 2022 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. Time charter agreements 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 paid-in capital when the offering is completed 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.
Stockholders' Equity, Policy [Policy Text Block]	Share repurchases The Company records the repurchase of its common shares at cost. Until their retirement these common shares are classified as treasury stock, which is a reduction to shareholders’ equity. Treasury shares are included in authorized and issued shares but excluded from outstanding shares.
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, including any related intangible assets and liabilities, 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.
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, 2021 2022, 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 March 2020, No. 2020 04, 848 2020 04” 2020 04 January 2021, 2021 01, 848 2021 01” 848, 848 2020 04 no December 31, 2021. December 31, 2022—12 March 2021, 1 3 6 12 June 30, 2023, 848. 848 may not may 848 December 31, 2022, December 31, 2024, no 848. not 2020 04 2021 01. 2020 04 not

Note 1 - Basis of Presentatio_2

Note 1 - Basis of Presentation and General Information (Tables)	12 Months Ended
	Dec. 31, 2022
Notes Tables
Schedules of Concentration of Risk, by Risk Factor [Table Text Block]	Year ended December 31, Charterer 2020 2021 2022 Zim Integrated Shipping Services Ltd. - - 21 % Maersk Line A/S 19 % 21 % 21 % Sealand Maersk Asia Pte. Ltd. - - 21 % CMA CGM, Marseille 17 % 24 % 11 % Vasi Shipping Pte. Ltd., Singapore - 15 % - MSC Geneva 18 % - - New Golden Sea Shipping Pte. Ltd., Singapore 10 % - -

Note 3 - Inventories (Tables)

Note 3 - Inventories (Tables)	12 Months Ended
	Dec. 31, 2022
Notes Tables
Schedule of Inventory, Current [Table Text Block]	2021 2022 Lubricants 1,851,508 2,306,177 Victualing 105,527 - Bunkers 317,419 - Total 2,274,454 2,306,177

Note 5 - Vessels, Net (Tables)

Note 5 - Vessels, Net (Tables)	12 Months Ended
	Dec. 31, 2022
Notes Tables
Property, Plant and Equipment [Table Text Block]	Cost Accumulated Depreciation Net Book Value Balance, January 1, 2021 116,331,440 (17,872,993 ) 98,458,447 - Depreciation for the year - (7,203,198 ) (7,203,198 ) - Vessel acquisitions and improvements 84,856,237 - 84,856,237 Balance, December 31, 2021 201,187,677 (25,076,191 ) 176,111,486 - Depreciation for the year - (18,522,217 ) (18,522,217 ) - Vessel held for sale (11,494,650 ) 2,995,781 (8,498,869 ) - Vessel acquisitions and improvements 67,480,026 - 67,480,026 Balance, December 31, 2022 257,173,053 (40,602,627 ) 216,570,426

Note 6 - Accrued Expenses (Tabl

Note 6 - Accrued Expenses (Tables)	12 Months Ended
	Dec. 31, 2022
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	December 31, 2021 December 31, 2022 Accrued payroll expenses 604,761 218,506 Accrued interest expense 282,724 470,694 Accrued general and administrative expenses 119,750 117,624 Accrued commissions 239,313 79,199 Other accrued expenses 456,377 870,360 Total 1,702,925 1,756,383

Note 7 - Fair Value of Below _2

Note 7 - Fair Value of Below Market Time Charters Acquired (Tables)	12 Months Ended
	Dec. 31, 2022
Notes Tables
Schedule of Below Market Time Charters, Future Amortization Expense [Table Text Block]	For the year ending December 31, Below market acquired charters 2023 (15,411,223 ) 2024 (15,223,724 ) 2025 (4,298,491 ) Total $ (34,933,438 )

Note 9 - Long-term Bank Loans (

Note 9 - Long-term Bank Loans (Tables)	12 Months Ended
	Dec. 31, 2022
Notes Tables
Schedule of Long-Term Debt Instruments [Table Text Block]	Borrower December 31, 2021 December 31, 2022 Noumea Shipping Ltd. / Gregos Shipping Ltd. (a) 9,375,000 7,875,000 Diamantis Shipowners Ltd. (b) 2,384,460 - Kea Shipowners Ltd. / Spetses Shipowners Ltd. / Hydra Shipowners Ltd. (c) 8,450,000 6,650,000 Antwerp Shipping Ltd. / Busan Shipping Ltd. / Keelung Shipping Ltd. / Oakland Shipping Ltd. (d) 40,300,000 31,100,000 Jonathan John Shipping Ltd. / Corfu Navigation Ltd. (e) 9,500,000 7,500,000 Jonathan Shipowners Ltd. (f) 15,000,000 10,600,000 Marcos Shipping Ltd. (g) 34,000,000 26,000,000 Rena Shipping Ltd. / Emmanuel Shipping Ltd. (h) - 18,250,000 119,009,460 107,975,000 Less: Current portion (29,284,460 ) (55,765,000 ) Long-term portion 89,725,000 52,210,000 Deferred charges, current portion 250,411 345,185 Deferred charges, long-term portion 720,049 397,914 Long-term bank loans, current portion net of deferred charges 29,034,049 55,419,815 Long-term bank loans, long-term portion net of deferred charges 89,004,951 51,812,086
Schedule of Future Annual Loan Repayments [Table Text Block]	To December 31: 2023 55,765,000 2024 22,440,000 2025 29,770,000 Total 107,975,000

Note 12 - Stock Incentive Plan

Note 12 - Stock Incentive Plan (Tables)	12 Months Ended
	Dec. 31, 2022
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, 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 Non-vested on January 1, 2022 72,593 19.05 Granted 60,000 18.98 Vested (48,350 ) 17.05 Non-vested on December 31, 2022 84,243 20.15

Note 13 - Earnings Per Share (T

Note 13 - Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2022
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	2020 2021 2022 Income: Net income 4,041,431 42,963,660 106,244,916 Dividends to Series B preferred shares (693,297 ) (255,324 ) - Preferred deemed dividend - (345,628 ) - Net income attributable to common shareholders 3,348,134 42,362,708 106,244,916 Weighted average common shares –outstanding, basic 5,753,917 6,976,905 7,181,561 Basic earnings per share 0.58 6.07 14.79 Effect of dilutive securities: Dilutive effect of non-vested shares - 16,500 8,546 Weighted average common shares –outstanding, diluted 5,753,917 6,993,405 7,190,107 Diluted earnings per share 0.58 6.06 14.78

Note 14 - Voyage Expenses and_2

Note 14 - Voyage Expenses and Vessel Operating Expenses (Tables)	12 Months Ended
	Dec. 31, 2022
Notes Tables
Schedule of Voyage Vessel Operating Expenses and Commissions [Table Text Block]	Year ended December 31, 2020 2021 2022 Voyage expenses Port charges and canal dues 451,586 253,855 523,943 Bunkers 882,673 370,879 1,952,911 Total 1,334,259 624,734 2,476,854 Vessel operating expenses Crew wages and related costs 17,866,847 15,961,904 19,170,601 Insurance 2,947,937 2,917,042 4,364,430 Repairs and maintenance 1,316,864 1,247,176 1,563,886 Lubricants 2,609,647 2,471,994 3,426,772 Spares and consumable stores 6,245,518 5,784,004 7,443,502 Professional and legal fees 255,948 212,108 272,142 Other 976,928 1,145,209 1,425,858 Total 32,219,689 29,739,437 37,667,191

Note 15 - Derivative Financia_2

Note 15 - Derivative Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2022
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, 2021 December 31, 2022 Interest rate swap contracts Current assets – Derivatives 540,753 1,142,682 Interest rate swap contracts Long - term assets – Derivatives - 2,669,244 Total derivative assets 540,753 3,811,926 Interest rate swap contracts Long-term liabilities – Derivatives 952,666 - Total derivative liabilities 952,666 -
Derivative Instruments, Gain (Loss) [Table Text Block]	Derivatives not designated as hedging instruments Location of gain (loss) recognized Year Ended December 31, 2020 Year Ended December 31, 2021 Year Ended December 31, 2022 Interest rate swap contracts– Unrealized (loss) / gain (Loss) / gain on derivatives, net (565,748 ) 153,835 4,223,839 Interest rate swap contracts- Realized (loss) / gain (Loss) / gain on derivatives, net (22,240 ) (180,976 ) 131,818 Total net (loss) / gain on interest rate swap contracts (587,988 ) (27,141 ) 4,355,657

Note 16 - Preferred Shares (Tab

Note 16 - Preferred Shares (Tables)	12 Months Ended
	Dec. 31, 2022
Notes Tables
Schedule of Stockholders Equity [Table Text Block]	Number of Shares Preferred Shares Amount Dividends paid-in-kind Total Balance, January 1, 2020 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 and 2022 - - - -

Note 17 - Financial Instrumen_2

Note 17 - Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2022
Notes Tables
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	Fair Value Measurement as of December 31, 2022 Total (Level 1) (Level 2) (Level 3) Assets Interest rate swap contracts, current portion $ 1,142,682 - $ 1,142,682 - Interest rate swap contracts, long-term portion $ 2,669,244 - $ 2,669,244 - 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 -

Note 1 - Basis of Presentatio_3

Note 1 - Basis of Presentation and General Information (Details Textual)	12 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Mar. 30, 2023 USD ($)	Feb. 28, 2023 USD ($)
Shareholders Ownership, Percentage	54.10%
Working Capital Deficit	$ 26,800,000
Net Income (Loss) Attributable to Parent, Total	106,244,916	$ 42,963,660	$ 4,041,431
Net Cash Provided by (Used in) Operating Activities, Total	114,082,571	52,612,939	2,409,377
Cash and Cash Equivalents, at Carrying Value, Total	25,845,333	$ 26,530,944	$ 3,559,399
Restricted Cash and Cash Equivalents, Total	$ 5,600,000
Container Carriers Vessels [Member]
Number of Vessels Under Construction	9
Contractual Obligation, to be Paid, Year One	$ 107,500,000
Contractual Obligation, to be Paid, Year Two	134,000,000
Contractual Obligation, to be Paid, Year Three	61,000,000
Debt Due February 2023 [Member]
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid	6,200,000
Debt due May 2023 [Member]
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid	6,000,000
Debt due November 2023 [Member]
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid	$ 17,400,000
Term Sheet With Major Commercial Banking Institution [Member] | Subsequent Event [Member]
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid				$ 10,400,000
Line of Credit Facility, Maximum Borrowing Capacity					$ 26,000,000

Note 1 - Basis of Presentatio_4

Note 1 - Basis of Presentation and General Information - Charterers Individually Accounted for More than 10% of the Company's Voyage and Time Charter Revenues (Details) - Revenue Benchmark [Member] - Customer Concentration Risk [Member]	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Zim Integrated Shipping Services Ltd. [Member]
Concentration Risk, Percentage	21%	0%	0%
Maersk Line A/S [Member]
Concentration Risk, Percentage	21%	21%	19%
Sealand Maersk Asia Pte. Ltd. [Member]
Concentration Risk, Percentage	21%	0%	0%
Charterer CMA [Member]
Concentration Risk, Percentage	11%	24%	17%
Vasi Shipping Pte. Ltd., Singapore [Member]
Concentration Risk, Percentage	0%	15%	0%
Charterer MSC [Member]
Concentration Risk, Percentage	0%	0%	18%
Charterer GSS [Member]
Concentration Risk, Percentage	0%	0%	10%

Note 2 - Significant Accounti_2

Note 2 - Significant Accounting Policies (Details Textual) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Accounts Receivable, Allowance for Credit Loss, Ending Balance	$ 0	$ 0	$ 0
Estimated Salvage Value Per Light Weight Ton of Vessel	250	250
Ship Owning Crew Contract Term (Month)	9 months
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)	4 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, 2022	Dec. 31, 2021
Inventory	$ 2,306,177	$ 2,274,454
Lubricant [Member]
Inventory	2,306,177	1,851,508
Victualing [Member]
Inventory	0	105,527
Bunkers [Member]
Inventory	$ 0	$ 317,419

Note 4 - Advances for Vessels_2

Note 4 - Advances for Vessels Under Construction - Continued (Details Textual)	12 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	May 20, 2022 USD ($)	Mar. 18, 2022 USD ($)	Jan. 28, 2022 USD ($)	Jun. 29, 2021 USD ($)
Payments for Vessels Under Construction	$ 50,866,784	$ 7,615,958	$ 0
Two Eco Design Fuel Efficient Containerships Signed in 2021 [Member]
Number of Vessels Under Construction							2
Construction of Vessels, Amount to Be Financed with a Combination of Debt and Equity							$ 80,500,000
Payments for Vessels Under Construction	19,000,000	7,600,000
Two Eco Design Fuel Efficient Containerships Signed on January 28, 2022 [Member]
Number of Vessels Under Construction						2
Construction of Vessels, Amount to Be Financed with a Combination of Debt and Equity						$ 89,700,000
Payments Related to Shipyard Installments for Construction of Vessels	12,800,000
Three Eco Design Fuel Efficient Containerships [Member]
Number of Vessels Under Construction					3
Construction of Vessels, Amount to Be Financed with a Combination of Debt and Equity					$ 103,800,000
Payments Related to Shipyard Installments for Construction of Vessels	10,200,000
Two Eco Design Fuel Efficient Containerships [Member]
Number of Vessels Under Construction				2
Construction of Vessels, Amount to Be Financed with a Combination of Debt and Equity				$ 86,700,000
Payments Related to Shipyard Installments for Construction of Vessels	$ 8,600,000
Eco Design Fuel Efficient Containerships [Member]
Number of Vessels Under Construction	9
Construction of Vessels, Amount to Be Financed with a Combination of Debt and Equity	$ 360,700,000
Payments for Vessels Under Construction	$ 50,600,000	$ 7,600,000

Note 5 - Vessels, Net (Details

Note 5 - Vessels, Net (Details Textual)						12 Months Ended
	Dec. 23, 2022 USD ($)	May 03, 2022 USD ($)	Apr. 26, 2022 USD ($)	Nov. 11, 2021 USD ($)	Sep. 02, 2021 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Property, Plant and Equipment, Net, Total						$ 216,570,426	$ 176,111,486
Gain (Loss) on Disposition of Property Plant Equipment, Total							9,417
Impairment, Long-Lived Asset, Held-for-Use, Total						0
Asset Pledged as Collateral [Member] | Loan Agreements [Member]
Property, Plant and Equipment, Net, Total						$ 211,300,000
Number of Vessels Used As Collateral						15
Installation of WBT System Improvements on Vessel [Member]
Payments for Improvements of Property, Plant and Equipment						$ 1,500,000	500,000
Installation of Smart Monitoring Systems Improvement on Vessels [Member]
Payments for Improvements of Property, Plant and Equipment						400,000	$ 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 Seaspan Melbourne [Member]
Payments to Acquire Property, Plant, and Equipment, Total		$ 17,500,000
Payments to Make Property, Plant and Equipment Available for Use		179,130
Payments to Acquire Property, Plant, and Equipment, Including Preparation Costs		33,438,371
Seaspan Melbourne, Vessels [Member]
Payments to Acquire Property, Plant, and Equipment, Total		33,259,241
Seaspan Melbourne, In-place Attached Time Charter [Member]
Payments to Acquire Property, Plant, and Equipment, Total		$ 15,759,241
M/V Seaspan Manila [Member]
Payments to Acquire Property, Plant, and Equipment, Total			$ 17,500,000
Payments to Make Property, Plant and Equipment Available for Use			2,084,509
Payments to Acquire Property, Plant, and Equipment, Including Preparation Costs			32,124,715
Seaspan Manila, Vessels [Member]
Payments to Acquire Property, Plant, and Equipment, Total			30,040,206
Seaspan Manila, In-place Attached Time Charter [Member]
Payments to Acquire Property, Plant, and Equipment, Total			$ 12,540,206
M/V Akinada Bridge [Member]
Proceeds from Sale of Property, Plant, and Equipment, Total	$ 14,200,000
Gain (Loss) on Disposition of Property Plant Equipment, Total	$ 5,200,000
M/V Akinada Bridge [Member] | Asset Held for Sale [Member]
Property, Plant and Equipment, Net, Total						8,500,000
Inventory On Board						400,000
M/V Akinada Bridge [Member] | Liability Associated With Asset Held for Sale [Member]
Advance Collected for Sale of Vessels						3,600,000
Vessels Unencumbered [Member]
Property, Plant and Equipment, Net, Total						$ 8,500,000
Number of Vessels Unencumbered						2

Note 5 - Vessels, Net - Summary

Note 5 - Vessels, Net - Summary of Vessels (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Net book value	$ 176,111,486
Vessel depreciation	(18,522,217)	$ (7,203,198)	$ (6,605,976)
- Depreciation for the year	(18,522,217)	(7,203,198)	(6,605,976)
Net book value	216,570,426	176,111,486
Vessels [Member]
Costs	201,187,677	116,331,440
Accumulated depreciation	(25,076,191)	(17,872,993)
Net book value	176,111,486	98,458,447
Vessel depreciation	(18,522,217)	(7,203,198)
- Depreciation for the year	(18,522,217)	(7,203,198)
- Vessel acquisitions and improvements	67,480,026	84,856,237
Net book value	216,570,426	176,111,486	98,458,447
- Vessel held for sale	(11,494,650)
- Vessel held for sale	2,995,781
- Vessel held for sale	(8,498,869)
Costs	257,173,053	201,187,677	116,331,440
Accumulated depreciation	$ (40,602,627)	$ (25,076,191)	$ (17,872,993)

Note 6 - Accrued Expenses - Sum

Note 6 - Accrued Expenses - Summary of Accrued Expenses (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Accrued payroll expenses	$ 218,506	$ 604,761
Accrued interest expense	470,694	282,724
Accrued general and administrative expenses	117,624	119,750
Accrued commissions	79,199	239,313
Other accrued expenses	870,360	456,377
Total	$ 1,756,383	$ 1,702,925

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, 2022	Dec. 31, 2021	Dec. 31, 2020	Jun. 30, 2022
Amortization of Fair Value of Below-market Time Charters Acquired	$ 10,827,595	$ 230,112	$ 1,714,370
Below Market Time Charters Acquired, Noncurrent	34,933,438	17,461,586
Below Market Time Charters, Accumulated Amortization	$ 11,057,707
Below Market Time Charters, Weighted Average Amortization Life (Year)	2 years 3 months 10 days
Fair Value, Inputs, Level 2 [Member] | M/V Marcos V [Member]
Below Market Time Charters, Fair Value		$ 17,691,698
Fair Value, Inputs, Level 2 [Member] | M/V Emmanuel P [Member]
Below Market Time Charters, Fair Value				$ 15,759,241
Fair Value, Inputs, Level 2 [Member] | M/V Rena P [Member]
Below Market Time Charters, Fair Value				$ 12,540,206

Note 7 - Fair Value of Below _4

Note 7 - Fair Value of Below Market Time Charters Acquired - Amortization of Intangible Liability (Details)	Dec. 31, 2022 USD ($)
2023	$ (15,411,223)
2024	(15,223,724)
2025	(4,298,491)
Total	$ (34,933,438)

Note 8 - Related Party Transa_2

Note 8 - Related Party Transactions (Details Textual)								9 Months Ended	12 Months Ended
	Jan. 01, 2023 USD ($)	Jan. 01, 2023 EUR (€)	Jan. 01, 2022 USD ($)	Jan. 01, 2022 EUR (€)	Sep. 30, 2019 USD ($)	Jan. 01, 2018	Jan. 01, 2012 EUR (€)	Sep. 30, 2020	Dec. 31, 2022 USD ($) $ / €	Dec. 31, 2021 USD ($)	Dec. 31, 2021 EUR (€)	Dec. 31, 2020 USD ($)	Dec. 31, 2020 EUR (€)	Jun. 30, 2022 USD ($)	May 31, 2022 USD ($)	Nov. 01, 2019 USD ($)
Related Party Agreement Term (Year)						5 years	5 years
Related Party Transaction Discount Percentage						5%	5%
Related Party Transaction Daily Fee Per Vessel Per Day in Lay Up			$ 385	€ 360			€ 342.5
Service Management Costs Daily Fee Related Party			$ 770	€ 720							€ 685		€ 685
Foreign Currency Exchange Rate, Remeasurement (in USD per EUR) | $ / €									1.07
Due to Related Parties, Total									$ 32,146	$ 309,970
Eurobulk Ltd. [Member] | Vessel Management Fees [Member]
Related Party Transaction, Amounts of Transaction									4,920,063	4,294,789		$ 5,293,199
Eurobulk Ltd. [Member] | Fixed Management Fees [Member] | Special Bonus to Employees and Consultants [Member]
Related Party Transaction, Amounts of Transaction									420,000	460,000
Eurobulk Ltd. [Member] | Fixed Management Fees [Member] | General and Administrative Expense [Member]
Related Party Transaction, Amounts of Transaction									2,420,000	2,460,000		2,000,000
First Debt Agreement [Member] | Colby Trading Ltd [Member]
Due to Related Parties, Total					$ 2,500,000
Debt Instrument, Interest Rate, Stated Percentage					8%
Interest Paid, Including Capitalized Interest, Operating and Investing Activities, Total												160,035
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%
Interest Paid, Including Capitalized Interest, Operating and Investing Activities, Total										50,000		201,248
Eurochart [Member] | Vessel Sales [Member]
Due to Related Parties, Total									$ 255,000					$ 175,000	$ 175,000
Related Party Transaction Commission, Percentage								1%	1%
Related Party Transaction, Expenses from Transactions with Related Party									$ 0	0		153,750
Eurochart [Member] | Charter Revenues [Member]
Related Party Transaction Commission, Percentage								1.25%
Related Party Transaction, Expenses from Transactions with Related Party									2,370,381	1,075,274		504,892
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									$ 118,614	77,896		100,837
Related Party Transaction Commission on Premium, Maximum, Percentage									5%
Technomar [Member]
Related Party Transaction, Expenses from Transactions with Related Party									$ 235,228	$ 155,739		$ 203,678
Related Party Transaction Amounts of Transaction Per Crew Member Per Month									$ 50
Subsequent Event [Member]
Related Party Transaction Daily Fee Per Vessel Per Day in Lay Up	$ 415	€ 387.5
Service Management Costs Daily Fee Related Party	$ 829	€ 775

Note 9 - Long-term Bank Loans_2

Note 9 - Long-term Bank Loans (Details Textual)													7 Months Ended	12 Months Ended
	Feb. 06, 2023 USD ($)	Sep. 13, 2022 USD ($)	Jul. 29, 2022 USD ($)	Dec. 14, 2021 USD ($)	Nov. 26, 2021 USD ($)	Oct. 22, 2021 USD ($)	Sep. 06, 2021 USD ($)	Jun. 26, 2020 USD ($)	Nov. 08, 2019 USD ($)	Jul. 30, 2019 USD ($)	Jul. 29, 2019 USD ($)	May 30, 2019 USD ($)	Dec. 31, 2019	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Jul. 29, 2020 USD ($)	Nov. 21, 2018
Restricted Cash, Total														$ 5,593,173	$ 4,967,285
Interest Expense, Total														4,729,759	$ 2,556,237	$ 3,836,985
Interest Costs Capitalized														544,639
Term Sheet, Piraeus S.A. [Member]
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid					$ 4,340,000
Debt Instrument, Covenant, Security Cover Ratio															125%
Debt Instrument, Face Amount					$ 16,500,000
Debt Instrument Number of Quarterly Payments					16
Payments of Debt Issuance Costs															$ 115,000
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 Terms, Balloon Payment to be Paid							$ 2,000,000
Debt Instrument, Covenant, Security Cover Ratio							120%
Debt Instrument, Periodic Payment, Total							$ 500,000
Debt Instrument, Face Amount							10,000,000
Payments of Debt Issuance Costs							$ 225,000
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 Terms, Balloon Payment to be Paid		$ 9,250,000				$ 1,800,000
Debt Instrument, Covenant, Security Cover Ratio		130%				130%
Debt Instrument, Periodic Payment, Total		$ 1,000,000				$ 1,100,000
Debt Instrument, Face Amount		$ 19,250,000				$ 15,000,000
Debt Instrument Number of Quarterly Payments		10				12
Payments of Debt Issuance Costs						$ 117,500								$ 115,500
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
Debt Instrument, Covenant, Security Cover Ratio				120%
Debt Instrument, Face Amount				$ 34,000,000
Debt Instrument Number of Quarterly Payments				16
Payments of Debt Issuance Costs				$ 300,000
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] (Deprecated 2023) | Term Sheet, Piraeus S.A. [Member]
Debt Instrument, Basis Spread on Variable Rate					2.60%
London Interbank Offered Rate (LIBOR) [Member] (Deprecated 2023) | Jonathan John Shipping Ltd., and Corfu Navigation Ltd. [Member]
Debt Instrument, Basis Spread on Variable Rate							3.50%
London Interbank Offered Rate (LIBOR) [Member] (Deprecated 2023) | Term Loan, HSBC Bank plc [Member]
Debt Instrument, Basis Spread on Variable Rate						2.35%
London Interbank Offered Rate (LIBOR) [Member] (Deprecated 2023) | Term Loan With Eurobank Ergasias S.A. by Marcos Shipping Ltd. [Member]
Debt Instrument, Basis Spread on Variable Rate				2.80%
Secured Overnight Financing Rate (SOFR) [Member] | Term Loan, HSBC Bank plc [Member]
Debt Instrument, Basis Spread on Variable Rate		1.95%
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 Credit Facility [Member]
Debt Instrument, Covenant, Security Cover Ratio																		140%
Eurobank Ergasias S.A. [Member] | Revolving Loan Facility [Member]
Proceeds from Issuance of Long-term Debt, Total												$ 12,000,000
Debt Instrument, Number of Periodic Payments												16
Debt Instrument, Periodic Payment, Total												$ 375,000
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
Eurobank Ergasias S.A. [Member] | Revolving Loan Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] (Deprecated 2023)
Debt Instrument, Basis Spread on Variable Rate													3.90%
Piraeus Bank S.A. [Member]
Proceeds from Issuance of Long-term Debt, Total											$ 3,667,680
Debt Instrument, Number of Periodic Payments											12
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid											$ 1,742,160						$ 1,902,620
Debt Instrument, Deferred Amount																	$ 160,460
Line of Credit Facility, Maximum Borrowing Capacity											$ 4,000,000
Line of Credit Facility, Maximum Borrowing Amount, Percent of Scrap Value of Vessel											90%
Debt Instrument, Periodic Payment, Total											$ 160,460
Repayments of Long-Term Debt, Total			$ 2,063,540
Piraeus Bank S.A. [Member] | Second Debt Agreement [Member]
Proceeds from Issuance of Long-term Debt, Total									$ 32,000,000
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid									$ 17,400,000
Debt Instrument, Security Cover Ratio Covenant									125%
Piraeus Bank S.A. [Member] | Second Debt Agreement, First Payments [Member]
Debt Instrument, Number of Periodic Payments									3
Debt Instrument, Periodic Payment, Total									$ 1,400,000
Piraeus Bank S.A. [Member] | Second Debt Agreement, Second Payments [Member]
Debt Instrument, Number of Periodic Payments									13
Debt Instrument, Periodic Payment, Total									$ 800,000
Piraeus Bank S.A. [Member] | London Interbank Offered Rate (LIBOR) [Member] (Deprecated 2023)
Debt Instrument, Basis Spread on Variable Rate										2.95%	3.50%
Piraeus Bank S.A. [Member] | London Interbank Offered Rate (LIBOR) [Member] (Deprecated 2023) | Second Debt Agreement [Member]
Debt Instrument, Basis Spread on Variable Rate									3.50%
HSBC Bank PLC [Member]
Proceeds from Issuance of Long-term Debt, Total										$ 12,500,000
Debt Instrument, Number of Periodic Payments										14
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid										$ 6,200,000
Debt Instrument, Periodic Payment, Total										$ 450,000
Debt Instrument, Security Cover Ratio Covenant										130%
HSBC Bank PLC [Member] | Subsequent Event [Member]
Repayments of Long-Term Debt, Total	$ 6,650,000

Note 9 - Long-term Bank Loans -

Note 9 - Long-term Bank Loans - Summary of Long-term Debt (Details) - USD ($)		Dec. 31, 2022	Dec. 31, 2021
Long-term debt, gross	[1]	$ 107,975,000	$ 119,009,460
Less: Current portion		(55,765,000)	(29,284,460)
Long-term portion		(52,210,000)	(89,725,000)
Deferred charges, current portion		345,185	250,411
Deferred charges, long-term portion		397,914	720,049
Long-term bank loans, current portion net of deferred charges		55,419,815	29,034,049
Long-term bank loans, long-term portion net of deferred charges		51,812,086	89,004,951
Noumea Shipping Ltd., Gregos Shipping Ltd. [Member]
Long-term debt, gross	[2]	7,875,000	9,375,000
Diamantis Shipowners Ltd. [Member]
Long-term debt, gross	[3]	0	2,384,460
Kea Shipowners Ltd. / Spetses Shipowners Ltd. / Hydra Shipowners Ltd. [Member]
Long-term debt, gross	[4]	6,650,000	8,450,000
Antwerp Shipping Ltd. / Busan Shipping Ltd. / Keelung Shipping Ltd. / Oakland Shipping Ltd. [Member]
Long-term debt, gross	[5]	31,100,000	40,300,000
Jonathan John Shipping Ltd., and Corfu Navigation Ltd. [Member]
Long-term debt, gross	[6]	7,500,000	9,500,000
Jonathan Shipowners Ltd. [Member]
Long-term debt, gross	[7]	10,600,000	15,000,000
Marcos Shippting Ltd. [Member]
Long-term debt, gross	[8]	26,000,000	34,000,000
Rena Shipping Ltd. [Member]
Long-term debt, gross		$ 18,250,000	$ 0
[1]On September 13, 2022, the Company signed a term loan facility with HSBC, and a loan of $19,250,000 was drawn by Rena Shipping Ltd. and Emmanuel Shipping Ltd., in order to finance general corporate purposes of the borrowers and the guarantor, being the Company. The loan is payable in ten consecutive quarterly installments of $1,000,000 each and by a balloon payment of $9,250,000 payable together with the last installment in June 2025. The loan bears interest at Secured Overnight Financing Rate (Term SOFR) plus a margin of 1.95%. The loan is secured with the following: (i) first priority mortgages over M/V “Emmanuel P” and M/V “Rena P”, (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 130%. The Company paid loan arrangement fees of $115,500 within 2022 for this loan. On December 23, 2022, following an assignment agreement between HSBC Bank plc. and Piraeus Bank S.A., the remaining balance of the loan was transferred to Piraeus Bank S.A. with all other terms and conditions remaining unchanged.[2]On May 30, 2019, the Company signed a term loan facility with Eurobank Ergasias S.A. (“Eurobank”) in relation to the financing of M/V “EM Astoria” and M/V “Evridiki G” totaling $12.0 million or 55% of the aggregate market value of the two aforementioned vessels. 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. The margin of the loan is 3.90% over LIBOR. On June 26, 2020, Eurobank 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 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 was payable in twelve equal consecutive quarterly installments of $160,460 plus a balloon amount of $1,742,160 payable together with the last instalment in July 2022. The margin of the loan was 3.50% over LIBOR. 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. On July 29, 2022, Diamantis Shipowners Ltd. repaid the full amount of outstanding indebtedness amounting to $2,063,540, by using the Company’s own funds and became unencumbered.[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 was payable in fourteen consecutive equal quarterly installments of $450,000 plus a balloon payment of $6,200,000 payable together with the last instalment in February 2023. The loan bore interest at LIBOR plus a margin of 2.95%. The loan was 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 security cover ratio covenant for the facility is set to 130%. On February 6, 2023, the Company repaid the full amount of outstanding indebtedness amounting to $6,650,000, by using the Company’s own funds and the three abovementioned vessels became unencumbered.[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 security cover ratio covenant for the facility is set to 125%.[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 within 2021 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 within 2021 for this loan. On December 23, 2022, following an assignment agreement between HSBC Bank plc. and Piraeus Bank S.A., the remaining balance of the loan was transferred to Piraeus Bank S.A. with all other terms and conditions remaining unchanged.[8]On December 14, 2021, the Company signed a term loan facility with Eurobank, 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 within 2022 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, 2022 USD ($)
2023	$ 55,765,000
2024	22,440,000
2025	29,770,000
Total	$ 107,975,000

Note 10 - Income Taxes (Details

Note 10 - Income Taxes (Details Textual)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Effective United States Tax on U.S. Source Shipping	4%	4%	4%

Note 11 - Commitments and Con_2

Note 11 - Commitments and Contingencies (Details Textual)	12 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Future Gross Minimum Revenues Under Non-cancellable Time Charter Agreements	$ 273,800,000
Future Gross Minimum Revenues Under Non-cancellable Time Charter Agreements, Due in Rolling Year One	143,700,000
Future Gross Minimum Revenues Under Non-cancellable Time Charter Agreements, Due in Rolling Year Two	103,000,000
Future Gross Minimum Revenues Under Non-cancellable Time Charter Agreements, Due in Rolling Year Three	22,100,000
Future Gross Minimum Revenues Under Non-cancellable Time Charter Agreements, Due in Rolling Year Four	5,000,000
Payments for Vessels Under Construction	50,866,784	$ 7,615,958	$ 0
Payments for Vessels Under Construction	$ 50,866,784	7,615,958	$ 0
Eco Design Fuel Efficient Containerships [Member]
Number of Vessels Under Construction	9
Construction of Vessels, Amount to Be Financed with a Combination of Debt and Equity	$ 360,700,000
Payments for Vessels Under Construction	50,600,000	7,600,000
Payments for Vessels Under Construction	50,600,000	$ 7,600,000
Construction of Vessel, Future Minimum Payments Due, Total	302,500,000
Construction of Vessel, Future Minimum Payments Due, Next Twelve Months	107,500,000
Construction of Vessel, Future Minimum Payments Due in Two Years	$ 195,000,000

Note 12 - Stock Incentive Pla_2

Note 12 - Stock Incentive Plan (Details Textual)							1 Months Ended	12 Months Ended
	Dec. 03, 2022 shares	Nov. 19, 2021 shares	Nov. 05, 2020 shares	Nov. 04, 2019 shares	Nov. 21, 2018 shares	Jul. 31, 2014 shares	Nov. 30, 2021 shares	Dec. 31, 2022 USD ($) shares	Dec. 31, 2021 USD ($) shares	Dec. 31, 2020 USD ($) shares
Share-based Payment Arrangement, Expense | $								$ 951,385	$ 182,324	$ 121,631
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $								$ 1,452,778
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)								10 months 17 days
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)								60,000	49,650	45,900
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other Than Options, Granted in Period, Fair Value | $								$ 1,138,800	$ 1,303,809	$ 124,389
The 2014 Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares)						225,000	225,000
Share Based Compensation Arrangement By Share Based Payment Awarded Term (Year)						10 years	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
Number of Key People Issued Awards					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%
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)	31,000	27,700	27,100	8,713	9,021
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%
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)	29,000	21,950	18,800	6,731	6,660
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
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%
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%
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%
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%
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%
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%
The 2014 Plan [Member] | Restricted Stock [Member] | The 31 Key Persons [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)	60,000
Number of Key People Issued Awards	31
The 2014 Plan [Member] | Restricted Stock [Member] | The 31 Key Persons [Member] | Share-Based Payment Arrangement, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	50%
The 2014 Plan [Member] | Restricted Stock [Member] | The 31 Key Persons [Member] | Share-Based Payment Arrangement, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	50%

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, 2022	Dec. 31, 2021	Dec. 31, 2020
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
Granted (in shares)	60,000	49,650	45,900
Granted, weighted average grant date fair value (in dollars per share)	$ 18.98	$ 26.26	$ 2.71
Vested (in shares)	(48,350)	(30,360)	(15,064)
Vested, weighted average grant date fair value (in dollars per share)	$ 17.05	$ 3.47	$ 8.34
Forfeited (in shares)			(817)
Forfeited, weighted average grant date fair value (in dollars per share)			$ 8.39
Non-vested (in shares)	84,243	72,593	53,303
Non-vested, weighted average grant date fair value (in dollars per share)	$ 20.15	$ 19.05	$ 3.46

Note 13 - Earnings Per Share (D

Note 13 - Earnings Per Share (Details Textual) - shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Weighted Average Number Diluted Shares Outstanding Adjustment, Total (in shares)	8,546	16,500	0
Unvested Incentive Award Shares [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)			53,303
Series B Preferred Shares [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)			8,365

Note 13 - Earnings Per Share -

Note 13 - Earnings Per Share - Summary of Basic and Diluted Loss Per Common Share (Details) - USD ($)	12 Months Ended			24 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2022
Net income	$ 106,244,916	$ 42,963,660	$ 4,041,431
Dividends to Series B preferred shares	0	(255,324)	(693,297)
Preferred deemed dividend	0	(345,628)	0	$ (345,628)
Net income attributable to common shareholders	$ 106,244,916	$ 42,362,708	$ 3,348,134
Weighted average common shares –outstanding, basic (in shares)	7,181,561	6,976,905	5,753,917
Basic earnings per share (in dollars per share)	$ 14.79	$ 6.07	$ 0.58
Dilutive effect of non-vested shares (in shares)	8,546	16,500	0
Weighted average common shares –outstanding, diluted (in shares)	7,190,107	6,993,405	5,753,917
Diluted earnings per share (in dollars per share)	$ 14.78	$ 6.06	$ 0.58
Series B Preferred Stock [Member]
Dividends to Series B preferred shares	$ 0	$ (255,324)	$ (693,297)

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, 2022	Dec. 31, 2021	Dec. 31, 2020
Voyage expenses	$ 2,476,854	$ 624,734	$ 1,334,259
Vessel operating expenses	37,667,191	29,739,437	32,219,689
Port Charges and Canal Dues [Member]
Voyage expenses	523,943	253,855	451,586
Bunkers [Member]
Voyage expenses	1,952,911	370,879	882,673
Crew Wages and Related Costs [Member]
Vessel operating expenses	19,170,601	15,961,904	17,866,847
Insurance [Member]
Vessel operating expenses	4,364,430	2,917,042	2,947,937
Repairs and Maintenance [Member]
Vessel operating expenses	1,563,886	1,247,176	1,316,864
Lubricants [Member]
Vessel operating expenses	3,426,772	2,471,994	2,609,647
Spares and Consumable Stores [Member]
Vessel operating expenses	7,443,502	5,784,004	6,245,518
Professional and Legal Fees [Member]
Vessel operating expenses	272,142	212,108	255,948
Other Vessel Operating Expenses [Member]
Vessel operating expenses	$ 1,425,858	$ 1,145,209	$ 976,928

Note 15 - Derivative Financia_3

Note 15 - Derivative Financial Instruments (Details Textual) - Interest Rate Swap [Member] $ in Millions	Dec. 31, 2022 USD ($)	Jun. 16, 2022 USD ($)	Oct. 12, 2021 USD ($)	Apr. 16, 2020 USD ($)	Oct. 17, 2014
Eurobank [Member]
Derivative, Number of Instruments Held, Total	3				1
Derivative, Notional Amount	$ 60		$ 10	$ 30
Derivative, Fixed Interest Rate			1.09%	0.78%
Piraeus Bank S.A. [Member]
Derivative, Notional Amount		$ 20
Derivative, Fixed Interest Rate		3.41%

Note 15 - Derivative Financia_4

Note 15 - Derivative Financial Instruments - Derivatives Not Designated as Hedging Instruments by Account Type (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Interest rate swap contracts, current	$ 1,142,682	$ 540,753
Interest rate swap contracts, noncurrent	2,669,244	0
Total derivative assets	3,811,926	540,753
Interest rate swap contracts, noncurrent liability	0	952,666
Total derivative liabilities	$ 0	$ 952,666

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, 2022	Dec. 31, 2021	Dec. 31, 2020
Gain (loss) on derivatives	$ 4,355,657	$ (27,141)	$ (587,988)
Not Designated as Hedging Instrument [Member]
Gain (loss) on derivatives	4,355,657	(27,141)	(587,988)
Not Designated as Hedging Instrument [Member] | Interest Rate Contracts, Unrealized (Loss) / Gain [Member]
Gain (loss) on derivatives	4,223,839	153,835	(565,748)
Not Designated as Hedging Instrument [Member] | Interest Rate Contracts, Realized (Loss) / Gain [Member]
Gain (loss) on derivatives	$ 131,818	$ (180,976)	$ (22,240)

Note 16 - Preferred Shares (Det

Note 16 - Preferred Shares (Details Textual) - USD ($)							1 Months Ended	12 Months Ended			24 Months Ended
	Jan. 29, 2023	Jan. 29, 2021	Jun. 10, 2019	Jan. 29, 2019	May 30, 2018	Jan. 27, 2014	Jan. 29, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2022	Dec. 31, 2019
Payments for Repurchase of Redeemable Preferred Stock								$ 0	$ 2,000,000	$ 0
Dividends, Preferred Stock, Total									255,324	693,297
Dividends, Paid-in-kind, Total								$ 0	$ 0	365,059
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%	4%
Preferred Stock Additional Cash Dividend Under Specified Conditions Percentage						40%
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
Stock Redeemed or Called During Period, Shares (in shares)		2,000
Preferred Stock, Dividend Rate Per Annum, Cash		8%					8%
Preferred Stock, Dividend Rate Per Annum, Paid-in-kind		9%					9%
Preferred Stock Deemed Dividend							$ 345,628
Preferred Stock Voting Percentage of Number of Shares Convertible of Common Stock								50%			50%
Series B Preferred Stock [Member] | Forecast [Member]
Preferred Stock, Dividend Rate, Percentage	14%
Series B Preferred Stock [Member] | Maximum [Member] | First Five Years [Member]
Preferred Stock, Dividend Rate, Percentage						5%
Series B Preferred Stock [Member] | Maximum [Member] | Next Two Years [Member]
Preferred Stock, Dividend Rate, Percentage				12%
Series B Preferred Stock [Member] | Maximum [Member] | After Two Years [Member]
Preferred Stock, Dividend Rate, Percentage				14%
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%
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			24 Months Ended
	Jan. 29, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2022
Balance (in shares)	8,365		8,365	8,000	8,365
Balance	$ 8,019,636		$ 8,019,636	$ 7,654,577	$ 8,019,636
Dividends declared (in shares)				365
Dividends declared				$ 365,059
Redemption of Preferred shares (in shares)					(2,000)
Redemption of Preferred shares					$ (2,000,000)
Preferred deemed dividend		$ 0	345,628	$ 0	$ 345,628
Balance (in shares)		0		8,365	0
Balance		$ 0		$ 8,019,636	$ 0
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	6,849,522
Dividends declared				0
Redemption of Preferred shares					(2,000,000)
Preferred deemed dividend					345,628
Balance		0		6,849,522	0
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	1,170,114
Dividends declared				365,059
Redemption of Preferred shares					0
Preferred deemed dividend					0
Balance		$ 0		$ 1,170,114	0
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) - Interest Rate Swap [Member] - Eurobank [Member] $ in Millions	Dec. 31, 2022 USD ($)	Oct. 12, 2021 USD ($)	Apr. 16, 2020 USD ($)	Oct. 17, 2014
Derivative, Number of Instruments Held, Total	3			1
Derivative, Notional Amount	$ 60	$ 10	$ 30

Note 17 - Financial Instrumen_4

Note 17 - Financial Instruments - Recurring Fair Value Measurements (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Interest rate swap contracts, current	$ 1,142,682	$ 540,753
Interest rate swap contracts, noncurrent	2,669,244	0
Derivatives	0	952,666
Fair Value, Recurring [Member]
Interest rate swap contracts, current	1,142,682	540,753
Interest rate swap contracts, noncurrent	2,669,244
Derivatives		952,666
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Interest rate swap contracts, current	0	0
Interest rate swap contracts, noncurrent	0
Derivatives		0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Interest rate swap contracts, current	1,142,682	540,753
Interest rate swap contracts, noncurrent	2,669,244
Derivatives		952,666
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Interest rate swap contracts, current	0	0
Interest rate swap contracts, noncurrent	$ 0
Derivatives		$ 0

Note 18 - Common Stock (Details

Note 18 - Common Stock (Details Textual) - USD ($)			1 Months Ended							12 Months Ended
	Nov. 24, 2020	Nov. 16, 2020	Nov. 30, 2022	Aug. 31, 2022	May 31, 2022	Jun. 30, 2021	Feb. 28, 2021	Aug. 31, 2020	Sep. 30, 2019	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Mar. 31, 2020
Common Stock, Shares Authorized (in shares)										200,000,000	200,000,000		200,000,000
Common Stock, Par or Stated Value Per Share (in dollars per share)										$ 0.03	$ 0.03		$ 0.03
Stock Issued During Period, Value, New Issues											$ 611,233	$ 496,718
Proceeds from Issuance of Common Stock										$ 0	743,553	715,550
Conversion of Stock, Amount Issued										0	$ 6,365,264	$ 0
Stock Repurchased and Retired During Period, Value										$ 5,026,746
Common Stock, Dividends, Per Share, Declared (in dollars per share)			$ 0.50	$ 0.50	$ 0.50					$ 1.50
Dividends, Common Stock, Total										$ 10,871,254
Share Repurchase Program [Member]
Stock Repurchase Program, Authorized Amount					$ 20,000,000
Stock Repurchased and Retired During Period, Shares (in shares)										238,330
Stock Repurchased and Retired During Period, Value										$ 5,030,000
Conversion of Series B Preferred Stock to Common Stock [Member]
Conversion of Stock, Shares Converted (in shares)						6,365
Conversion of Stock, Shares Issued (in 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)	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)		161,357
Directors, Officers, and Employees [Member]
Stock Issued During Period, Shares, Restricted Stock Award, Gross (in shares)										60,000	49,650	45,900
ATM [Member]
Stock Issued During Period, Value, New Issues								$ 200,000
Proceeds from Issuance of Common Stock								$ 720,000
ATM Common Stock Offering [Member]
Proceeds from Issuance of Common Stock							$ 740,000
Stock Issued During Period, Shares, New Issues (in shares)							82,901

Note 19 - Other Operating Inc_2

Note 19 - Other Operating Income (Details Textual) - USD ($)	1 Months Ended	12 Months Ended
	Jan. 31, 2020	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Jun. 30, 2017
Other Operating Expenses, Income from Collection of Previously Written off Accounts		$ 1,610,000	$ 200,000
Other Operating Expenses, Income		1,610,000	1,298,318	$ 2,687,205
Other Operating Expense (Income) From Settlement of Acccounts With Charterers		350,000
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
M/V Akinada Bridge [Member]
Other Operating Income Related to Unrepaired Damage Claim		$ 1,960,000

Note 20 - Subsequent Events (De

Note 20 - Subsequent Events (Details Textual)			2 Months Ended	12 Months Ended
	Mar. 31, 2023 USD ($)	Mar. 30, 2023 USD ($)	Feb. 28, 2023 USD ($) shares	Dec. 31, 2022 USD ($) shares	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Jan. 26, 2023 USD ($)
Payments for Repurchase of Common Stock				$ 5,026,746	$ 0	$ 0
Share Repurchase Program [Member]
Stock Repurchased and Retired During Period, Shares (in shares) | shares				238,330
Subsequent Event [Member]
Charter Rate, Amount Per Day							$ 41,000
Subsequent Event [Member] | Term Sheet With Major Commercial Banking Institution [Member]
Line of Credit Facility, Maximum Borrowing Capacity			$ 26,000,000
Line of Credit Facility, Maximum Borrowing Amount, Percent of the Vessel's Market Value for Financing			67%
Proceeds from Issuance of Debt	$ 26,000,000
Debt Instrument, Number of Consecutive Quarterly Installments		28
Loan Payable, Twelve Quarterly Instruments		$ 700,000
Loan Payable, Sixteen Quarterly Instruments		450,000
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid		$ 10,400,000
Subsequent Event [Member] | Term Sheet With Major Commercial Banking Institution [Member] | Secured Overnight Financing Rate (SOFR) [Member]
Debt Instrument, Basis Spread on Variable Rate		2.15%
Subsequent Event [Member] | Share Repurchase Program [Member]
Stock Repurchased and Retired During Period, Shares (in shares) | shares			110,084
Payments for Repurchase of Common Stock			$ 2,000,000