Petrogress (PGAS) 10-Q 13 Aug 19 2019 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2019	Aug. 13, 2019
Document Information [Line Items]
Entity Registrant Name	Petrogress, Inc.
Entity Central Index Key	0001558465
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Current Reporting Status	Yes
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Small Business	true
Entity Common Stock, Shares Outstanding (in shares)		3,874,808
Entity Shell Company	false
Document Type	10-Q
Document Period End Date	Jun. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Amendment Flag	false

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Revenues	$ 404,000	$ 2,261,890	$ 2,526,678	$ 4,827,154
Costs of goods sold	(281,202)	(1,282,524)	(1,446,954)	(2,689,061)
Gross profit	122,798	979,366	1,079,724	2,138,093
Operating expenses:
Corporate expenses	(78,548)	(98,644)	(83,611)	(398,782)
Operating expenses of commodities trade	(85,805)	(35,408)	(178,931)	(179,510)
Fleet operating expenses	(122,399)	(67,946)	(380,118)	(187,343)
General and administrative expenses	(126,487)	(149,077)	(318,514)	(426,891)
Amortization expense			(6,687)
Depreciation expense	(230,768)	(231,061)	(428,048)	(458,680)
Total operating expenses	(644,007)	(582,136)	(1,395,909)	(1,651,206)
Operating income/ (loss) before other expenses and income taxes	(521,209)	397,230	(316,185)	486,887
Other income/ (expense), net:
Interest and finance expenses	(3,130)		(15,493)	(1,427)
Loss on settlement of loan facility from related party		(160,192)		(160,192)
Other income / (expense), net	(490,900)	224	(538,302)	(134,354)
Total other income/ (expense), net	(494,030)	(159,968)	(553,795)	(135,781)
Income before income taxes	(1,015,239)	237,262	(869,980)	351,106
Income tax expense
Net income/ (loss)	(1,015,239)	237,262	(861,980)	351,106
Net income/ (loss) attributable to:
Shareholders of the company	(1,011,590)	228,510	(861,098)	351,106
Non-controlling interests	(3,649)	8,752	(8,882)	2,117
Net income	(1,015,239)	237,262	(861,980)	351,106
Other comprehensive income/ (loss)
Foreign currency translation adjustment
Comprehensive income/ (loss)	(1,015,239)	237,262	(869,980)	351,106
Shareholders of the company	(1,011,590)	228,510	(861,098)	348,989
Non-controlling interests	(3,649)	8,752	(8,882)	2,117
	$ (1,015,239)	$ 237,262	$ (869,980)	$ 351,106
Weighted average number of shares of Common Stock:
Basic (in shares)	3,857,162	3,446,279	3,842,916	3,373,163
Diluted (in shares)	3,857,162	4,425,595	3,842,916	4,352,479
Basic earnings per share (in dollars per share)	$ (0.26)	$ 0.07	$ (0.22)	$ 0.10
Diluted earnings per share (in dollars per share)	$ (0.26)	$ 0.05	$ (0.22)	$ 0.08

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Current Assets
Cash and cash equivalents	$ 659,387	$ 661,010
Accounts receivable, net	4,178,058	4,779,432
Claims receivable, net	551,600	547,600
Inventories	896,004	279,196
Prepaid expenses and other current assets	1,519,480	1,765,276
Total current assets	7,889,588	8,170,453
Non-Current Assets
Goodwill	900,000	900,000
Vessels and other fixed assets, net	4,036,298	4,450,906
Deferred charges, net	20,062	26,750
Security deposit	10,584	10,638
Total non-current assets	4,966,944	5,388,294
Total Assets	12,856,532	13,558,747
Current Liabilities
Accounts payable and accrued expenses	1,205,499	1,265,452
Due to related party	1,245,839	1,176,863
Loan facility from related party	148,900	148,900
Accrued Interest	11,724	8,744
Total current liabilities	2,611,962	2,599,959
Total liabilities	2,611,962	2,599,959
Commitments and Contingencies
Shareholders' equity:
Preferred stock, value
Shares of Common stock, $0.001 par value, 19,000,000 shares authorized, 3,874,808 and 3,828,412 shares issued and outstanding as of June 30, 2019 and December 31, 2018, respectively	3,875	3,829
Additional paid-in capital	9,682,877	9,535,161
Accumulated comprehensive loss	(10,231)	(10,231)
Retained earnings	454,772	1,315,870
Equity attributable to Shareholders of the Company	10,141,293	10,854,629
Non-controlling interests	103,277	104,159
Total liabilities and shareholders' equity	12,856,532	13,558,747
Series A Preferred Stock [Member]
Shareholders' equity:
Preferred stock, value	$ 10,000	$ 10,000

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Jun. 30, 2019	Dec. 31, 2018
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	999,900	999,900
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	19,000,000	19,000,000
Common stock, shares issued (in shares)	3,874,808	3,828,412
Common stock, shares outstanding (in shares)	3,874,808	3,828,412
Series A Preferred Stock [Member]
Preferred stock, par value (in dollars per share)	$ 100	$ 100
Preferred stock, shares authorized (in shares)	100	100
Preferred stock, shares issued (in shares)	100	100
Preferred stock, shares outstanding (in shares)	100	100

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income/ (loss)	$ (861,980)	$ 351,106
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation	428,048	458,680
Change in Fair value of share-based payments issued for services		153,178
Share-based compensation expense		1,496
Gain/ (loss) on settlement of convertible promissory notes	46	(12,835)
Loss on settlement of loan facility from related party		160,192
Changes in working capital:
- (Increase)/ decrease in Accounts receivable, net	601,374	(780,048)
- (Increase) in Claims receivable, net	(4,000)
- (Increase) in Inventories	(563,928)	(10,608)
- (Increase)/ decrease in Prepaid expenses and other current assets	245,796	(646,833)
- (Increase)/ decrease in Security deposit	54
- Decrease in Deferred charges, net	6,688
- Increase/ (decrease) in Accounts payable and accrued expenses	87,763	(356,563)
- Increase/ (decrease) in Amounts due to related party	68,976	98,969
- Increase/ (decrease) in Accrued Interest	2,980	3,196
Net cash provided by/ (used in) operating activities	11,817	(580,070)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property plant and equipment	(13,440)	(88,154)
Net cash (used in) investing activities	(13,440)	(88,154)
Proceeds from loan facility from related party		74,000
Net cash provided by financing activities		74,000
Effect of exchange rate changes on cash
Net (decrease) in cash and cash equivalents	(1,623)	(594,224)
Cash and cash equivalents, Beginning of Period	661,010	1,150,999
Cash and cash equivalents, End of Period	659,387	556,775
Cash paid for interest expense
Cash paid for income taxes
Non-cash investing and financing activities:
Common stock issued for settlement of notes and interest payable	21	297,500
Common stock issued for settlement of services	$ 25	$ 210,000

Consolidated Statement of Equit

Consolidated Statement of Equity (Unaudited) - USD ($)	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Parent [Member]	Noncontrolling Interest [Member]	Total
Balances (in shares) at Dec. 31, 2017	100	3,177,452
Balances at Dec. 31, 2017	$ 10,000	$ 3,098	$ 9,100,838	$ (7,744)	$ 1,008,823	$ 10,115,015	$ 98,758	$ 10,213,773
Common stock issued for convertible notes (in shares)		76,614
Common stock issued for convertible notes		$ 77	209,923			210,000		210,000
Common stock issued to settle liabilities (in shares)		190,705
Common stock issued to settle liabilities		$ 191	457,501			457,692		457,692
Cancellation of common stock issued for services			(146,767)			(146,767)		(146,767)
Common stock issued for board advisory services (in shares)		800
Common stock issued for board advisory services		$ 80	1,416			1,496		1,496
Net income					348,989	348,989	2,117	351,106
Balances (in shares) at Jun. 30, 2018	100	3,446,877
Balances at Jun. 30, 2018	$ 10,000	$ 3,447	9,622,910	(7,744)	1,357,812	10,986,425	100,875	11,087,300
Balances (in shares) at Dec. 31, 2018	100	3,828,412
Balances at Dec. 31, 2018	$ 10,000	$ 3,829	9,535,161	(10,231)	1,315,870	10,854,629	104,159	10,958,788
Common stock issued to settle liabilities (in shares)		21,396
Common stock issued to settle liabilities		$ 21	41,836			41,857		41,857
Common stock issued for board advisory services (in shares)		25,000
Common stock issued for board advisory services		$ 25	47,475			47,500		47,500
Net income					(861,098)	(843,094)	(8,882)	(861,098)
Elimination of Petrogress Africa Ltd apic/due from shareholders			58,405			58,405	8,000	66,405
Balances (in shares) at Jun. 30, 2019	100	3,874,808
Balances at Jun. 30, 2019	$ 10,000	$ 3,875	$ 9,682,877	$ (10,231)	$ 454,772	$ 10,141,293	$ 103,277	$ 10,244,570

Note 1 - The Company and Our Su

Note 1 - The Company and Our Subsidiaries	6 Months Ended
	Jun. 30, 2019
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	Note 1 The Company and our Subsidiaries History and Development of the Company Petrogress, Inc. was incorporated on February 10, 2010 800 "800 February 29, 2016, 800 800 136,000,000 85% 100% 800 On March 9, 2016, March 15, 2016, November 16, 2016, On July 9, 2018, one 100, 490,000,000 19,000,000 10,000,000 1,000,000. July 18, 2018. no We maintain our principal marketing and operating offices at 1, 18538 30 210 459 9741 1013 403 19805 Business Overview Petrogress operates as a holding company and we conduct business primarily through our wholly-owned subsidiaries: Petronav Carriers LLC . Petrogress Int’l LLC . Our business operates in the downstream and midstream sectors of the energy industry, where we acquire and supply crude oil, and engage in the refining and marketing of refined products and lubricants. As a supplier, we procure crude oil from our direct sources and deliver by our tankers fleet to buyers’ destinations. With service centers in East Mediterranean and West Africa, we believe that we are one We provide our customers with services that require sophisticated logistical operations designed to meet their strict oil quality and delivery scheduling needs. We believe that our extensive experience and management systems allow us to meet our customers' specific requirements when they purchase and take delivery of crude oil, refined products and lubricants around the areas in which we operate. This, together with the capital-intensive nature of our industry and the limited available shuttle vessels in the areas of our operation, represent a significant barrier to entry for competitors. We have devoted our efforts to building a global brand and believe that our customers recognize our brand as representing high quality service and products at each of our locations. We also perform our technical ship operations in-house, which helps us maintain high levels of customer service. Throughout our history, we have expanded our business capabilities through strategic alliances, select business and vessel acquisitions, and the establishment of new service centers. In February 2019, 100,000 In addition to our operations described above, we commenced the marketing and distribution of lubricants under an exclusive a greement Sales and Marketing Most of our marketing, sales, ship-management and other related functions are performed at our main office in Piraeus, Greece. We also market products and services through our offices in Ghana and Cyprus and through our representations in Nigeria. Our sales force interacts with our established customers and markets our oil sales and services to local distributors. We believe our level of customer service, years of experience in the industry, and reputation for reliability are significant factors in retaining our customers and attracting new customers. Our sales and marketing approach are designed to create awareness of the benefits and advantages of our sales and services. We are active in industry trade shows and other available public forums. Description Petronav Carriers LLC . PCL March 2016 four Currently PCL owns our vessels through separate wholly-owned subsidiaries described below: Vessel-Owned Subsidiary Incorporation Vessel’s name Shiba ship-management Ltd. Marshall Islands APECUS Danae Marine Ltd. Marshall Islands OPTIMUS Invictus Marine S.A. Marshall Islands INVICTUS Entus Marine Ltd. Marshall Islands ENTUS Petrogress Int’l LLC . PIL September 2017. In September 2017, 90% On April 1, 2019, April 1, 2019.

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2019
Notes to Financial Statements
Significant Accounting Policies [Text Block]	Note 2 – Summary of Significant Accounting Policies Basis of Presentation The Company follows the accrual basis of accounting in accordance with generally accepted accounting principles (“GAAP”) and has elected a year-end of December 31. All significant intercompany transactions and accounts have been eliminated. These interim consolidated financial statements are unaudited; however, in the opinion of our management, these statements reflect all adjustments necessary for a fair statement of the results for the periods reported. All such adjustments are of a normal, recurring nature unless otherwise disclosed. These interim consolidated financial statements, including the notes, have been prepared in accordance with the rules of the SEC applicable to interim period financial statements and do not These interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in our Annual Report on Form 10 December 31, 2018 April 12, 2019. three six June 30, 2019 not Principles of consolidation The consolidated financial statements include the consolidated accounts of the Company and our wholly-owned and majority-owned subsidiaries: Petrogress Int’l LLC., Petronav Carriers LLC., Petrogres Africa Co. Ltd. and PG Cypyard & Offshore Services Terminal Ltd. Percentages Participation in subsidiaries Company Participation Petrogress Int’l LLC. (Delaware) 100% (owned by the corporation) Petronav Carriers LLC. (Marshall Islands) 100% (owned by the corporation) Petrogres Africa Co. Ltd. (Ghanaian) 90% (owned by Petrogress Int’l LLC.) PG CYPYARD & Offshore Services Terminal Ltd. 100% (owned by Petrogress Int’l LLC.) Non-controlling interests Ownership interests in the Company’s subsidiaries held by parties other than the Company are presented separately from the Company’s equity on the Consolidated Balance Sheet. The amount of consolidated net income attributable to the Company and the non-controlling interests are both presented on the face of the Consolidated Statement of Income. Emerging Growth Company We qualify as an “emerging growth company” under the Jumpstart Our Business Startups Act of 2012, 107 7 2 Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reported period. Actual results could differ from those estimates.

Note 3 - Information Relating t

Note 3 - Information Relating to the Consolidated Statement of Cash Flows	6 Months Ended
	Jun. 30, 2019
Notes to Financial Statements
Cash Flow, Supplemental Disclosures [Text Block]	Note 3 – Information relating to the Consolidated Statement of cash flows Six Months Ended June 30 2019 2018 (Increase)/ decrease in Accounts receivable, net $ 601,374 $ (780,048 ) (Increase) in Claims receivable, net (4,000 ) - (Increase) in Inventories (563,928 ) (10,608 ) (Increase)/ decrease in Prepaid expenses and other assets 245,796 (646,833 ) Increase/ (decrease) in Accounts payable and accrued expenses 87,763 (356,563 ) Increase in Amounts due to related party 68,976 98,969 Increase in Accrued interest 2,980 3,196 Decrease in Security deposit 54 - Decrease in Deferred charges, net 6,688 - Net increase in operating capital $ 445,703 $ (1,691,887 ) Net repayment (borrowing) of loans by equity affiliates consisted of the following gross amounts: Six Months Ended June 30 2019 2018 Borrowing of loans by equity affiliates $ - $ - Repayment of loans by equity affiliates - 63,000 Net repayment of loans by equity affiliates $ - $ 63,000

Note 4 - Summarized Financial D

Note 4 - Summarized Financial Data - Petrogress, Inc.	6 Months Ended
	Jun. 30, 2019
Notes to Financial Statements
Summarized Financial Data [Text Block]	Note 4 Petrogress, Inc The management and operation of our business is performed directly and independently by each subsidiary. Assets, inventories, partnership interests, joint venture interests and contracts are held by the subsidiaries. Petrogress, Inc., the parent company, does not The summarized financial information for the Company and its consolidated subsidiaries as of June 30, 2019 2018 Six Months Ended June 30 2019 2018 Sales and other operating revenues $ - $ - Cost and other expenses (254,038 ) (550,793 ) Net (loss) to PGI $ (254,038 ) $ (550,793 ) Six Months Ended June 30 2019 2018 Current assets $ 176,993 $ 29,935 Other assets 7,775 45,075 Current liabilities (1,219,369 ) (697,772 ) Total Petrogress, Inc. net equity $ (1,034,601 ) $ (622,762 ) Petronav Carriers LLC Petrogress, Inc. owns 100% four four Six Months Ended June 30 2019 2018 Sales and other operating revenues $ 528,333 $ 1,796,227 Cost and other expenses* (1,674,142 ) (1,053,180 ) Net income/ (loss) to Petronav Carriers LLC ** $ (1,145,809 ) $ 743,047 ______________ * Cost and other expenses include the ransom paid as well as all expenses related to the hijacking of one ** 100% Petrogress Int’l LLC Petrogress, Inc. owns 100% Six Months Ended June 30 2019 2018 Sales and other operating revenues $ 2,139,178 $ - Cost and other expenses (2,179,311 ) (4,150 ) Net income/ (loss) to Petrogress Int’l LLC * $ 40,133 $ (4,150 ) ______________ * 100% Petrogress Africa Co. Ltd. Petrogress Int’l LLC owns 90% Six Months Ended June 30 2019 2018 Sales and other operating revenues $ 330,000 $ 442,795 Cost and other expenses (418,820 ) (421,627 ) Net income/ (loss ) to Petrogres Africa Co. Ltd * $ (88,820 ) $ 21,168 ______________ * 90%

Note 5 - Inventories

Note 5 - Inventories	6 Months Ended
	Jun. 30, 2019
Notes to Financial Statements
Inventory Disclosure [Text Block]	Note 5 – Inventories Crude oil, Gas oil and bunkers onboard our vessels are recorded at weighted average cost and carried at the lower of cost or net realizable value. Supplies and other items consist principally of items, spare-parts, consumable goods and equipment supplied to our vessel which are valued at weighted average cost and reviewed periodically for obsolescence or impairment when market conditions indicate. Goods Inventories June 30, 2019 December 31, 2018 Crude Oil $ - $ 279,196 Gas Oil 810,000 - Lubricants 86,004 - Total Inventories $ 896,004 $ 279,196

Note 6 - Properties, Vessels, I

Note 6 - Properties, Vessels, Inventories & Equipment	6 Months Ended
	Jun. 30, 2019
Notes to Financial Statements
Properties, Vessels, Inventories & Equipment [Text Block]	Note 6 June 30, 2019 December 31, 2018 Vessel’s value, at historical cost $ 3,940,745 $ 4,354,147 Bunkers R.O.B. 85,059 137,939 Equipment, Machineries, Fenders, Vehicles & Trucks 95,554 96,759 Total $ 4,121,358 $ 4,588,845

Note 7 - Vessels and Other Fixe

Note 7 - Vessels and Other Fixed Assets, Net	6 Months Ended
	Jun. 30, 2019
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	Note 7 We depreciate our vessels on a straight-line basis over the estimated useful life which is 10 Tanker Vessels (in years) 10 Supply boats (in years) 10 Fenders (in years) 10 Oil hoses (in years) 10 Vehicles & trucks (in years) 10 Office equipment and furniture (in years) 10 Computer hardware (in years) 5 Vessels and other fixed assets, net consisted of the following as of June 30, 2019 December 31, 2018: June 30, 2019 December 31, 2018 Estimated useful Life (in years) Marine vessels $ 10,171,930 $ 10,171,930 10 Furniture and equipment 203,290 189,848 10 Accumulated depreciation (6,338,922 ) (5,910,872 ) Vessels and other fixed assets, net $ 4,036,298 $ 4,450,906 Depreciation for the six June 30, 2019 June 30, 2018, $428,048 $458,680,

Note 8 - Income Taxes

Note 8 - Income Taxes	6 Months Ended
	Jun. 30, 2019
Notes to Financial Statements
Income Tax Disclosure [Text Block]	Note 8 We file income tax returns in various jurisdictions, as appropriate and required. The Company was not January 1, 2012. We account for income taxes in accordance with Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”) 740 10, not not ASC 740 10 not We measure and record uncertain tax positions by establishing a threshold for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. Only tax positions meeting the more-likely-than- not may 2011

Note 9 - Fair Value Measurement

Note 9 - Fair Value Measurements	6 Months Ended
	Jun. 30, 2019
Notes to Financial Statements
Fair Value Measurement and Measurement Inputs, Recurring and Nonrecurring [Text Block]	Note 9 Our financial instruments consist primarily of cash, accounts receivable, accounts payable and accrued expenses, and convertible debt. The carrying amount of cash, accounts receivable, accounts payable and accrued expenses, and convertible debt, as applicable, approximates fair value due to the short-term nature of these items and/or the current interest rates payable in relation to current market conditions. Interest rate risk is the risk that our earnings are subject to fluctuations in interest rates on either investments or on debt. We do not Financial risk is the risk that our earnings are subject to fluctuations in interest rates or foreign exchange rates. We do not Fair value measurements are determined under a three not The highest priority is given to unadjusted quoted prices in active markets for identical assets (Level 1 3 The three Level 1 Level 2 not Level 3 Credit risk adjustments are applied to reflect the Company’s own credit risk when valuing all liabilities measured at fair value. The methodology is consistent with that applied in developing counterparty credit risk adjustments, but incorporates the Company’s own credit risk as observed in the credit default swap market.

Note 10 - Revenue Recognition

Note 10 - Revenue Recognition	6 Months Ended
	Jun. 30, 2019
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	Note 10 – Revenue Recognition In May 2014, 2014 09, 606 may January 1, 2018, 2014 09, 606 not The Company recognizes revenue for crude oil sales and gas oil sales, its primary sources of revenue, at an amount that reflects the consideration that the Company expects to be entitled to receive in exchange for transferring goods or services to its customers. The Company's policy is to record revenue when, (a) control of the goods (crude oil, gas oil and other petrochemical products) is passed to its customers and (b) the vessels charter (voyages and long term) service is rendered to its independent charterers or Petrogress Int’l LLC.

Note 11 - Concentrations of Cre

Note 11 - Concentrations of Credit Risk	6 Months Ended
	Jun. 30, 2019
Notes to Financial Statements
Concentration Risk Disclosure [Text Block]	Note 11 Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of trade accounts receivables. Concentrations of credit risk with respect to trade receivables are limited due to the short payment terms dictated by the industry and operating environment. As of June 30, 2019 December 31, 2018, no

Note 12 - Officers Compensation

Note 12 - Officers Compensations	6 Months Ended
	Jun. 30, 2019
Notes to Financial Statements
Compensation Related Costs, General [Text Block]	Note 12 During the six June 30, 2019 June 30, 2018, $90,000 $110,000, June 30, 2019, $13,738 June 30, 2019.

Note 13 - Commitments and Conti

Note 13 - Commitments and Contingencies	6 Months Ended
	Jun. 30, 2019
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	Note 13 The Company is not no

Note 14 - Shareholders

Note 14 - Shareholders	6 Months Ended
	Jun. 30, 2019
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	Note 14 As of June 30, 2019, 48 3,874,808 475,574 12% one 336,911 June 30, 2019. not may

Note 15 - Related Party Transac

Note 15 - Related Party Transactions	6 Months Ended
	Jun. 30, 2019
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	Note 15 As of April 24, 2019, September 30, 2017, $900,000, October 23, 2019. not 65% 10 3,500,000 may

Note 16 - Loan Facility from Re

Note 16 - Loan Facility from Related Party	6 Months Ended
	Jun. 30, 2019
Notes to Financial Statements
Note Payable to Stockholder Disclosure [Text Block]	Note 16 On October 31, 2018, July 13, 2017 ( $1,000,000 no $148,900 July 13, 2019; July 13, 2020. The table below presents the amounts due to Christos Traios during the six June 30, 2019: Amounts due to related party December 31, 2018 $ 1,176,863 Wages accrued to Christos Traios 90,000 Wages paid to Christos Traios, in cash (13,738 ) Amount due from Christos Traios (7,286 ) Amounts due to related party June 3 0 , 2019 $ 1,245,839

Note 17 - Revenue Concentration

Note 17 - Revenue Concentrations	6 Months Ended
	Jun. 30, 2019
Notes to Financial Statements
Revenue Concentrations Disclosure [Text Block]	Note 17 The Company sells to commercial customers in foreign markets. The following is a summary of customers who accounted for more than ten 10% June 30, 2019 2018: Customer June 3 0 , 2019 June 3 0 , 2018 A 79 % 87 % B 12 % * The following is a summary of customers who accounted for more than ten 10% June 30, 2019 December 31, 2018: Customer June 3 0 , 2019 December 31 , 2018 A 50 % 63 % B 20 % 16 % None August 8, 2019. 10%.

Note 18 - Additional Informatio

Note 18 - Additional Information	6 Months Ended
	Jun. 30, 2019
Notes to Financial Statements
Additional Financial Information Disclosure [Text Block]	Note 1 8 – Additional Information On April 19, 2019 one 6 50 not $3 $350,000 June 26, 2019. one

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation The Company follows the accrual basis of accounting in accordance with generally accepted accounting principles (“GAAP”) and has elected a year-end of December 31. All significant intercompany transactions and accounts have been eliminated. These interim consolidated financial statements are unaudited; however, in the opinion of our management, these statements reflect all adjustments necessary for a fair statement of the results for the periods reported. All such adjustments are of a normal, recurring nature unless otherwise disclosed. These interim consolidated financial statements, including the notes, have been prepared in accordance with the rules of the SEC applicable to interim period financial statements and do not These interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in our Annual Report on Form 10 December 31, 2018 April 12, 2019. three six June 30, 2019 not
Consolidation, Policy [Policy Text Block]	Principles of consolidation The consolidated financial statements include the consolidated accounts of the Company and our wholly-owned and majority-owned subsidiaries: Petrogress Int’l LLC., Petronav Carriers LLC., Petrogres Africa Co. Ltd. and PG Cypyard & Offshore Services Terminal Ltd. Percentages Participation in subsidiaries Company Participation Petrogress Int’l LLC. (Delaware) 100% (owned by the corporation) Petronav Carriers LLC. (Marshall Islands) 100% (owned by the corporation) Petrogres Africa Co. Ltd. (Ghanaian) 90% (owned by Petrogress Int’l LLC.) PG CYPYARD & Offshore Services Terminal Ltd. 100% (owned by Petrogress Int’l LLC.) Non Ownership interests in the Company’s subsidiaries held by parties other than the Company are presented separately from the Company’s equity on the Consolidated Balance Sheet. The amount of consolidated net income attributable to the Company and the non-controlling interests are both presented on the face of the Consolidated Statement of Income.
Emerging Growth Company, Policy [Policy Text Block]	Emerging Growth Company We qualify as an “emerging growth company” under the Jumpstart Our Business Startups Act of 2012, 107 7 2
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reported period. Actual results could differ from those estimates.

Note 2 - Summary of Significa_2

Note 2 - Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2019
Notes Tables
Percentages Participation in Subsidiaries [Table Text Block]	Company Participation Petrogress Int’l LLC. (Delaware) 100% (owned by the corporation) Petronav Carriers LLC. (Marshall Islands) 100% (owned by the corporation) Petrogres Africa Co. Ltd. (Ghanaian) 90% (owned by Petrogress Int’l LLC.) PG CYPYARD & Offshore Services Terminal Ltd. 100% (owned by Petrogress Int’l LLC.)

Note 3 - Information Relating_2

Note 3 - Information Relating to the Consolidated Statement of Cash Flows (Tables)	6 Months Ended
	Jun. 30, 2019
Notes Tables
Cash Flow, Operating Capital [Table Text Block]	Six Months Ended June 30 2019 2018 (Increase)/ decrease in Accounts receivable, net $ 601,374 $ (780,048 ) (Increase) in Claims receivable, net (4,000 ) - (Increase) in Inventories (563,928 ) (10,608 ) (Increase)/ decrease in Prepaid expenses and other assets 245,796 (646,833 ) Increase/ (decrease) in Accounts payable and accrued expenses 87,763 (356,563 ) Increase in Amounts due to related party 68,976 98,969 Increase in Accrued interest 2,980 3,196 Decrease in Security deposit 54 - Decrease in Deferred charges, net 6,688 - Net increase in operating capital $ 445,703 $ (1,691,887 )
Schedule of Net Repayment (Borrowing) of Loans by Equity Affiliates [Table Text Block]	Six Months Ended June 30 2019 2018 Borrowing of loans by equity affiliates $ - $ - Repayment of loans by equity affiliates - 63,000 Net repayment of loans by equity affiliates $ - $ 63,000

Note 4 - Summarized Financial_2

Note 4 - Summarized Financial Data - Petrogress, Inc. (Tables)	6 Months Ended
	Jun. 30, 2019
Notes Tables
Condensed Financial Statements [Table Text Block]	Six Months Ended June 30 2019 2018 Sales and other operating revenues $ - $ - Cost and other expenses (254,038 ) (550,793 ) Net (loss) to PGI $ (254,038 ) $ (550,793 ) Six Months Ended June 30 2019 2018 Current assets $ 176,993 $ 29,935 Other assets 7,775 45,075 Current liabilities (1,219,369 ) (697,772 ) Total Petrogress, Inc. net equity $ (1,034,601 ) $ (622,762 ) Six Months Ended June 30 2019 2018 Sales and other operating revenues $ 528,333 $ 1,796,227 Cost and other expenses* (1,674,142 ) (1,053,180 ) Net income/ (loss) to Petronav Carriers LLC ** $ (1,145,809 ) $ 743,047 Six Months Ended June 30 2019 2018 Sales and other operating revenues $ 2,139,178 $ - Cost and other expenses (2,179,311 ) (4,150 ) Net income/ (loss) to Petrogress Int’l LLC * $ 40,133 $ (4,150 ) Six Months Ended June 30 2019 2018 Sales and other operating revenues $ 330,000 $ 442,795 Cost and other expenses (418,820 ) (421,627 ) Net income/ (loss ) to Petrogres Africa Co. Ltd * $ (88,820 ) $ 21,168

Note 5 - Inventories (Tables)

Note 5 - Inventories (Tables)	6 Months Ended
	Jun. 30, 2019
Notes Tables
Schedule of Inventory, Current [Table Text Block]	Goods Inventories June 30, 2019 December 31, 2018 Crude Oil $ - $ 279,196 Gas Oil 810,000 - Lubricants 86,004 - Total Inventories $ 896,004 $ 279,196

Note 6 - Properties, Vessels,_2

Note 6 - Properties, Vessels, Inventories & Equipment (Tables)	6 Months Ended
	Jun. 30, 2019
Notes Tables
Schedule of Properties, Vessels, Inventories & Equipment [Table Text Block]	June 30, 2019 December 31, 2018 Vessel’s value, at historical cost $ 3,940,745 $ 4,354,147 Bunkers R.O.B. 85,059 137,939 Equipment, Machineries, Fenders, Vehicles & Trucks 95,554 96,759 Total $ 4,121,358 $ 4,588,845

Note 7 - Vessels and Other Fi_2

Note 7 - Vessels and Other Fixed Assets, Net (Tables)	6 Months Ended
	Jun. 30, 2019
Notes Tables
Property, Plant and Equipment, Estimated Useful Lives [Table Text Block]	Tanker Vessels (in years) 10 Supply boats (in years) 10 Fenders (in years) 10 Oil hoses (in years) 10 Vehicles & trucks (in years) 10 Office equipment and furniture (in years) 10 Computer hardware (in years) 5
Property, Plant and Equipment [Table Text Block]	June 30, 2019 December 31, 2018 Estimated useful Life (in years) Marine vessels $ 10,171,930 $ 10,171,930 10 Furniture and equipment 203,290 189,848 10 Accumulated depreciation (6,338,922 ) (5,910,872 ) Vessels and other fixed assets, net $ 4,036,298 $ 4,450,906

Note 16 - Loan Facility from _2

Note 16 - Loan Facility from Related Party (Tables)	6 Months Ended
	Jun. 30, 2019
Notes Tables
Schedule of Related Party Transactions [Table Text Block]	Amounts due to related party December 31, 2018 $ 1,176,863 Wages accrued to Christos Traios 90,000 Wages paid to Christos Traios, in cash (13,738 ) Amount due from Christos Traios (7,286 ) Amounts due to related party June 3 0 , 2019 $ 1,245,839

Note 17 - Revenue Concentrati_2

Note 17 - Revenue Concentrations (Tables)	6 Months Ended
	Jun. 30, 2019
Accounts Receivable [Member]
Notes Tables
Schedules of Concentration of Risk, by Risk Factor [Table Text Block]	Customer June 3 0 , 2019 December 31 , 2018 A 50 % 63 % B 20 % 16 %
Revenue from Contract with Customer Benchmark [Member]
Notes Tables
Schedules of Concentration of Risk, by Risk Factor [Table Text Block]	Customer June 3 0 , 2019 June 3 0 , 2018 A 79 % 87 % B 12 % *

Note 1 - The Company and Our _2

Note 1 - The Company and Our Subsidiaries (Details Textual)	Jul. 09, 2018	Feb. 29, 2016shares	Jun. 30, 2019shares	Dec. 31, 2018shares	Jul. 18, 2018shares	Jul. 17, 2018shares	Nov. 30, 2017
Common Stock, Shares Authorized			19,000,000	19,000,000	19,000,000	490,000,000
Preferred Stock, Shares Authorized			999,900	999,900	1,000,000	10,000,000
Reverse Stock Split [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio	100
Acquisition of Petrogres Co. Limited [Member]
Stock Issued During Period, Shares, Acquisitions		136,000,000
Equity Method Investment, Ownership Percentage		85.00%
Business Acquisition, Percentage of Voting Interests Acquired		100.00%
Petrogres Africa Co. Ltd [Member]
Business Acquisition, Percentage of Voting Interests Acquired							90.00%

Note 2 - Summary of Significa_3

Note 2 - Summary of Significant Accounting Policies - Percentages Participation in Subsidiaries (Details)	Jun. 30, 2019
Petrogress Int’l LLC. (Delaware) [Member]
Ownership Interest	100.00%
Petronav Carriers LLC. (Marshall Islands) [Member]
Ownership Interest	100.00%
Petrogres Africa Co. Ltd. (Ghanaian) [Member] | Petrogress Int'l LLC [Member]
Ownership Interest	90.00%
PG CYPYARD & Offshore Services Terminal Ltd. [Member] | Petrogress Int'l LLC [Member]
Ownership Interest	100.00%

Note 3 - Information relating_3

Note 3 - Information relating to the Consolidated Statement of Cash Flows - Operating Capital (Details) - USD ($)	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
- (Increase)/ decrease in Accounts receivable, net	$ 601,374	$ (780,048)
- (Increase) in Claims receivable, net	(4,000)
- (Increase) in Inventories	(563,928)	(10,608)
- (Increase)/ decrease in Prepaid expenses and other current assets	245,796	(646,833)
- Increase/ (decrease) in Accounts payable and accrued expenses	87,763	(356,563)
- Increase/ (decrease) in Amounts due to related party	68,976	98,969
- Increase/ (decrease) in Accrued Interest	2,980	3,196
- (Increase)/ decrease in Security deposit	54
- Decrease in Deferred charges, net	6,688
Net increase in operating capital	$ 445,703	$ (1,691,887)

Note 3 - Information Relating_4

Note 3 - Information Relating to the Consolidated Statement of Cash Flows - Loans by Equity Affiliates (Details) - USD ($)	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Borrowing of loans by equity affiliates
Repayment of loans by equity affiliates		63,000
Net repayment of loans by equity affiliates		$ 63,000

Note 4 - Summarized Financial_3

Note 4 - Summarized Financial Data - Petrogress, Inc. (Details Textual)	Jun. 30, 2019
Petronav Carriers LLC [Member]
Noncontrolling Interest, Ownership Percentage by Parent	100.00%
Petrogress Int'l LLC [Member]
Noncontrolling Interest, Ownership Percentage by Parent	100.00%
Petrogres Africa Co. Ltd. (Ghanaian) [Member] | Petrogress Int'l LLC [Member]
Noncontrolling Interest, Ownership Percentage by Parent	90.00%

Note 4 - Summarized Financial_4

Note 4 - Summarized Financial Data - Petrogress, Inc. - Condensed Financial Statement (Details) - USD ($)		3 Months Ended		6 Months Ended
		Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Sales and other operating revenues		$ 404,000	$ 2,261,890	$ 2,526,678	$ 4,827,154
Cost and other expenses		(281,202)	(1,282,524)	(1,446,954)	(2,689,061)
Net income/ (loss)		(1,015,239)	237,262	(861,980)	351,106
Current assets		7,889,588		7,889,588		$ 8,170,453
Current liabilities		2,611,962		2,611,962		2,599,959
Total Petrogress, Inc. net equity		10,141,293		10,141,293		$ 10,854,629
Parent Company [Member]
Sales and other operating revenues
Cost and other expenses				(254,038)	(550,793)
Net income/ (loss)				(254,038)	(550,793)
Current assets		176,993	29,935	176,993	29,935
Other assets		7,775	45,075	7,775	45,075
Current liabilities		(1,219,369)	(697,772)	(1,219,369)	(697,772)
Total Petrogress, Inc. net equity		$ (1,034,601)	$ (622,762)	(1,034,601)	(622,762)
Petronav Carriers LLC [Member]
Sales and other operating revenues				528,333	1,796,227
Cost and other expenses	[1]			(1,674,142)	(1,053,180)
Net income/ (loss)	[2]			(1,145,809)	743,047
Petrogress Int'l LLC [Member]
Sales and other operating revenues				2,139,178
Cost and other expenses				(2,179,311)	(4,150)
Net income/ (loss)	[3]			40,133	(4,150)
Petrogres Africa Co. Ltd. (Ghanaian) [Member]
Sales and other operating revenues				330,000	442,795
Cost and other expenses				(418,820)	(421,627)
Net income/ (loss)	[4]			$ (88,820)	$ 21,168
[1]	Cost and other expenses include the ransom paid as well as all expenses related to the hijacking of one of our vessels.
[2]	100% Net income attributable to Petrogress Inc.
[3]	100% Net income attributable to Petrogress, Inc.
[4]	90% Net income attributable to Petrogress Int'l LLC

Note 5 - Inventories - Goods In

Note 5 - Inventories - Goods Inventories (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Total Inventories	$ 896,004	$ 279,196
Crude Oil [Member]
Total Inventories		279,196
Oil and Gas [Member]
Total Inventories	810,000
Lubricants [Member]
Total Inventories	$ 86,004

Note 6 - Properties, Vessels,_3

Note 6 - Properties, Vessels, Inventories & Equipment - Schedule of Properties, Vessels, Inventories & Equipment (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Vessel’s value, at historical cost	$ 3,940,745	$ 4,354,147
Bunkers R.O.B.	85,059	137,939
Equipment, Machineries, Fenders, Vehicles & Trucks	95,554	96,759
Total	$ 4,121,358	$ 4,588,845

Note 7 - Vessels and Other Fi_3

Note 7 - Vessels and Other Fixed Assets, Net (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Property, Plant and Equipment, Useful Life
Depreciation, Total	$ 230,768	$ 231,061	$ 428,048	$ 458,680
Vessels [Member]
Property, Plant and Equipment, Useful Life			10 years

Note 7 - Vessels and other fi_4

Note 7 - Vessels and other fixed assets, net - Useful Lives of Vessels and Equipment (Details)	6 Months Ended
	Jun. 30, 2019
Property, Plant and Equipment, Useful Life (Year)
Tanker Vessels [Member]
Property, Plant and Equipment, Useful Life (Year)	10 years
Supply Boats [Member]
Property, Plant and Equipment, Useful Life (Year)	10 years
Fenders [Member]
Property, Plant and Equipment, Useful Life (Year)	10 years
Oil Hoses [Member]
Property, Plant and Equipment, Useful Life (Year)	10 years
Vehicles & Trucks [Member]
Property, Plant and Equipment, Useful Life (Year)	10 years
Office Equipment and Furniture [Member]
Property, Plant and Equipment, Useful Life (Year)	10 years
Computer Equipment [Member]
Property, Plant and Equipment, Useful Life (Year)	5 years

Note 7 - Vessels and Other Fi_5

Note 7 - Vessels and Other Fixed Assets, Net - Vessels and Other Fixed Assets (Details) - USD ($)	6 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Property, Plant and Equipment, Useful Life (Year)
Accumulated depreciation	$ (6,338,922)	$ (5,910,872)
Net property and equipment	4,036,298	4,450,906
Vessels [Member]
Property and equipment, gross	$ 10,171,930	10,171,930
Property, Plant and Equipment, Useful Life (Year)	10 years
Office Equipment and Furniture [Member]
Property and equipment, gross	$ 203,290	$ 189,848
Property, Plant and Equipment, Useful Life (Year)	10 years

Note 12 - Officers Compensati_2

Note 12 - Officers Compensations (Details Textual) - Officer [Member] - USD ($)	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Salary and Wage, Officer, Excluding Cost of Good and Service Sold	$ 90,000	$ 110,000
Payments to Employees	$ 13,738

Note 14 - Shareholders (Details

Note 14 - Shareholders (Details Textual) - shares	Jun. 30, 2019	Dec. 31, 2018
Common Stock, Shares, Issued, Total	3,874,808	3,828,412
Common Stock, Shares, Outstanding, Ending Balance	3,874,808	3,828,412
UNITED STATES
Common Stock, Shares, Outstanding, Ending Balance	475,574
Percentage of Outstanding Shares Held by Shareholders	12.00%
UNITED STATES | Cede & Co. Shareholder [Member]
Common Stock, Shares, Outstanding, Ending Balance	336,911

Note 15 - Related Party Trans_2

Note 15 - Related Party Transactions (Details Textual) - Petrogres Africa Co. Ltd [Member] - Forecast [Member]	Oct. 23, 2019USD ($)shares
Payments to Acquire Businesses, Gross | $	$ 900,000
Business Combination, Maximum Number of Shares on Conversion Rights | shares	3,500,000

Note 16 - Loan Facility from _3

Note 16 - Loan Facility from Related Party (Details Textual) - USD ($)	Jun. 30, 2019	Dec. 31, 2018	Oct. 31, 2018
Long-term Line of Credit, Total	$ 148,900	$ 148,900
Chief Executive Officer [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity			$ 1,000,000
Long-term Line of Credit, Total			$ 148,900

Note 16 - Loan Facility from _4

Note 16 - Loan Facility from Related Party - Amounts due to CEO (Details)	6 Months Ended
	Jun. 30, 2019USD ($)
Amounts due to related party	$ 1,176,863
Amounts due to related party	1,245,839
Chief Executive Officer [Member] | Amounts due to Chief Executive Officer [Member]
Amounts due to related party	1,176,863
Wages accrued to Christos Traios	90,000
Wages paid to Christos Traios, in cash	(13,738)
Amount due from Christos Traios	(7,286)
Amounts due to related party	$ 1,245,839

Note 17 - Revenue Concentrati_3

Note 17 - Revenue Concentrations - Revenue Concentration by Customer (Details) - Customer Concentration Risk [Member] - Revenue from Contract with Customer Benchmark [Member]	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Customer A [Member]
Sales concentration percentage	79.00%	87.00%
Customer B [Member]
Sales concentration percentage	12.00%

Note 17 - Revenue Concentrati_4

Note 17 - Revenue Concentrations - Accounts Receivable Concentration by Customer (Details) - Customer Concentration Risk [Member] - Accounts Receivable [Member]	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Customer A [Member]
Sales concentration percentage	50.00%	63.00%
Customer B [Member]
Sales concentration percentage	20.00%	16.00%

Note 18 - Additional Informat_2

Note 18 - Additional Information (Details Textual)	Apr. 19, 2019USD ($)
Amount of Original Ransom for Employees Held Hostage	$ 3,000,000
Payments for Ransom of Employees Held Hostage	$ 350,000