Pyxis Tankers (PXS) 20-F 29 Mar 19 2018 FY Annual report (foreign) Financial data

Document and Entity Information

Document and Entity Information	12 Months Ended
	Dec. 31, 2018shares
Document And Entity Information
Entity Registrant Name	Pyxis Tankers Inc.
Entity Central Index Key	0001640043
Document Type	20-F
Document Period End Date	Dec. 31, 2018
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity a Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity's Reporting Status Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	21,060,190
Trading Symbol	PXS
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2018

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
CURRENT ASSETS:
Cash and cash equivalents	$ 545	$ 1,693
Restricted cash, current portion	255	141
Inventories	807	1,016
Trade accounts receivable, net	2,585	703
Prepayments and other assets	115	342
Total current assets	4,307	3,895
FIXED ASSETS, NET:
Vessels, net	107,992	115,774
Total fixed assets, net	107,992	115,774
OTHER NON-CURRENT ASSETS:
Restricted cash, net of current portion	3,404	4,859
Financial derivative instrument	28
Deferred charges, net	740	285
Prepayments and other assets	146
Total other non-current assets	4,318	5,144
Total assets	116,617	124,813
CURRENT LIABILITIES:
Current portion of long-term debt, net of deferred financing costs	4,333	7,304
Trade accounts payable	4,746	2,293
Due to related parties	3,402	2,125
Hire collected in advance	422
Accrued and other liabilities	642	809
Total current liabilities	13,545	12,531
NON-CURRENT LIABILITIES:
Long-term debt, net of current portion and deferred financing costs, non-current	58,129	59,126
Promissory note	5,000	5,000
Total non-current liabilities	63,129	64,126
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY:
Preferred stock ($0.001 par value; 50,000,000 shares authorized; none issued)
Common stock ($0.001 par value; 450,000,000 shares authorized; 20,877,893 and 21,060,190 shares issued and outstanding as of December 31, 2017 and 2018, respectively)	21	21
Additional paid-in capital	74,767	74,766
Accumulated deficit	(34,845)	(26,631)
Total stockholders' equity	39,943	48,156
Total liabilities and stockholders' equity	$ 116,617	$ 124,813

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, shares issued	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	450,000,000	450,000,000
Common stock, shares issued	21,060,190	20,877,893
Common stock, shares outstanding	21,060,190	20,877,893

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Statement [Abstract]
Revenues, net	$ 28,457	$ 29,579	$ 30,387
Expenses:
Voyage related costs and commissions	(11,817)	(8,463)	(6,288)
Vessel operating expenses	(12,669)	(12,761)	(12,871)
General and administrative expenses	(2,404)	(3,188)	(2,574)
Management fees, related parties	(720)	(712)	(631)
Management fees, other	(930)	(930)	(1,024)
Amortization of special survey costs	(133)	(73)	(236)
Depreciation	(5,500)	(5,567)	(5,768)
Vessel impairment charge	(2,282)		(3,998)
Bad debt provisions	(13)	(231)
Operating loss	(8,011)	(2,346)	(3,003)
Other income / (expenses):
Gain from debt extinguishment	4,306
Loss from financial derivative instrument	(19)
Interest and finance costs, net	(4,490)	(2,897)	(2,810)
Total other expenses, net	(203)	(2,897)	(2,810)
Net loss	$ (8,214)	$ (5,243)	$ (5,813)
Loss per common share, basic and diluted	$ (0.39)	$ (0.28)	$ (0.32)
Weighted average number of shares, basic and diluted	20,894,202	18,461,455	18,277,893

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Total
Balance at Dec. 31, 2015	$ 18	$ 70,123	$ (15,575)	$ 54,566
Balance, shares at Dec. 31, 2015	18,244,671
Issuance of common stock - EIP, shares	33,222
Net loss			(5,813)	(5,813)
Balance at Dec. 31, 2016	$ 18	70,123	(21,388)	48,753
Balance, shares at Dec. 31, 2016	18,277,893
Issuance of common stock - EIP, shares	200,000
Issuance of common stock	$ 3	4,288		4,291
Issuance of common stock, shares	2,400,000
Stock compensation		355		355
Net loss			(5,243)	(5,243)
Balance at Dec. 31, 2017	$ 21	74,766	(26,631)	48,156
Balance, shares at Dec. 31, 2017	20,877,893
Net proceeds from the issuance of common stock		1		1
Net proceeds from the issuance of common stock, shares	182,297
Net loss			(8,214)	(8,214)
Balance at Dec. 31, 2018	$ 21	$ 74,767	$ (34,845)	$ 39,943
Balance, shares at Dec. 31, 2018	21,060,190

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash flows from operating activities:
Net loss	$ (8,214)	$ (5,243)	$ (5,813)
Adjustments to reconcile net loss to net cash from operating activities:
Depreciation	5,500	5,567	5,768
Amortization of special survey costs	133	73	236
Amortization and write-off of financing costs	386	153	164
Vessel impairment charge	2,282		3,998
Gain from debt extinguishment	(4,306)
Loss from financial derivative instrument	19
Stock compensation		355
Bad debt provisions	13	231
Changes in assets and liabilities:
Inventories	209	157	(590)
Trade accounts receivable, net	(1,895)	747	(1,226)
Prepayments and other assets	227	62	321
Special surveys cost	(588)		(364)
Trade accounts payable	2,499	(858)	2,012
Due to related parties	1,277	2,672	1,832
Hire collected in advance	422	(415)	(1,714)
Accrued and other liabilities	(167)	176	(178)
Net cash provided by / (used in) operating activities	(2,203)	3,677	4,446
Cash flows from investing activities:
Advances for ballast water treatment system	(99)
Net cash used in investing activities	(99)
Cash flows from financing activities:
Proceeds from long-term debt	44,500
Repayment of long-term debt	(43,640)	(6,963)	(7,263)
Gross proceeds from issuance of common stock	315	4,800
Common stock offerings costs	(407)	(414)
Payment of financial derivative instrument	(47)
Payment of financing costs	(908)	(190)	(22)
Net cash used in financing activities	(187)	(2,767)	(7,285)
Net (decrease) / increase in cash and cash equivalents and restricted cash	(2,489)	910	(2,839)
Cash and cash equivalents and restricted cash at the beginning of the year	6,693	5,783	8,622
Cash and cash equivalents and restricted cash at end of the year	4,204	6,693	5,783
SUPPLEMENTAL INFORMATION:
Cash paid for interest	4,283	2,549	2,779
Non-cash financing activities - increase in promissory note		$ 2,500

Basis of Presentation and Gener

Basis of Presentation and General Information	12 Months Ended
	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and General Information	1. Basis of Presentation and General Information PYXIS TANKERS INC. (“Pyxis”) is a corporation incorporated in the Republic of the Marshall Islands on March 23, 2015. Pyxis currently owns 100% ownership interest in the following six vessel-owning companies: ● SECONDONE CORPORATION LTD, established under the laws of the Republic of Malta (“Secondone”); ● THIRDONE CORPORATION LTD, established under the laws of the Republic of Malta (“Thirdone”); ● FOURTHONE CORPORATION LTD, established under the laws of the Republic of Malta (“Fourthone”); ● SIXTHONE CORP., established under the laws of the Republic of the Marshall Islands (“Sixthone”); ● SEVENTHONE CORP., established under the laws of the Republic of the Marshall Islands (“Seventhone”); and ● EIGHTHONE CORP., established under the laws of the Republic of the Marshall Islands (“Eighthone,” and collectively with Secondone, Thirdone, Fourthone, Sixthone and Seventhone, the “Vessel-owning companies”). All of the Vessel-owning companies are engaged in the marine transportation of liquid cargoes through the ownership and operation of tanker vessels, as listed below: Vessel-owning company Incorporation date Vessel DWT Year built Acquisition date Secondone 05/23/2007 Northsea Alpha 8,615 2010 05/28/2010 Thirdone 05/23/2007 Northsea Beta 8,647 2010 05/25/2010 Fourthone 05/30/2007 Pyxis Malou 50,667 2009 02/16/2009 Sixthone 01/15/2010 Pyxis Delta 46,616 2006 03/04/2010 Seventhone 05/31/2011 Pyxis Theta 51,795 2013 09/16/2013 Eighthone 02/08/2013 Pyxis Epsilon 50,295 2015 01/14/2015 Secondone, Thirdone and Fourthone were initially established under the laws of the Republic of the Marshall Islands, under the names SECONDONE CORP., THIRDONE CORP. and FOURTHONE CORP., respectively. In March and April 2018, these vessel-owning companies completed their re-domiciliation under the jurisdiction of the Republic of Malta and were renamed as mentioned above. For further information, please refer to Note 7. The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and include the accounts of Pyxis and its wholly-owned subsidiaries (collectively the “Company”), as of December 31, 2017 and 2018 and for the years ended December 31, 2016, 2017 and 2018. All of the Company’s vessels are double-hulled and are engaged in the transportation of refined petroleum products and other liquid bulk items, such as, organic chemicals and vegetable oils. The vessels Northsea Alpha Northsea Beta Pyxis Malou Pyxis Delta Pyxis Theta Pyxis Epsilon Prior to the consummation of the transactions discussed below, Mr. Valentios (“Eddie”) Valentis was the sole ultimate stockholder of Pyxis and the Vessel-owning companies, holding all of their issued and outstanding share capital through MARITIME INVESTORS CORP. (“Maritime Investors”). Maritime Investors owned directly 100% of Pyxis, Secondone and Thirdone, and owned indirectly (through the intermediate holding company PYXIS HOLDINGS INC. (“Holdings”)) 100% of Fourthone, Sixthone, Seventhone and Eighthone. On March 25, 2015, Pyxis caused MARITIME TECHNOLOGIES CORP., a Delaware corporation (“Merger Sub”), to be formed as its wholly-owned subsidiary and to be a party to the agreement and plan of merger discussed below. On April 23, 2015, Pyxis and Merger Sub entered into an agreement and plan of merger (the “Agreement and Plan of Merger”) (further amended on September 22, 2015) with among others, LOOKSMART LTD. (“LS”), a digital advertising solutions company listed on NASDAQ. Merger Sub served as the entity into which LS was merged in accordance with the Agreement and Plan of Merger (the “Merger”). Upon execution of the Agreement and Plan of Merger, Pyxis paid LS a cash consideration of $600. Prior to the Merger, on October 26, 2015, Holdings and Maritime Investors transferred all of their shares in the Vessel-owning companies to Pyxis as a contribution in kind, at no consideration. Since there was no change in ultimate ownership or control of the business of the Vessel-owning companies, the transaction constituted a reorganization of companies under common control and has been accounted for in a manner similar to a pooling of interests. Accordingly, upon the transfer of the assets and liabilities of the Vessel-owning companies, the financial statements of the Company were presented using combined historical carrying amounts of the assets and liabilities of the Vessel-owning companies. On October 28, 2015, in accordance with the terms of the Agreement and Plan of Merger, LS, after having divested of its business and all of its assets and liabilities, merged with and into the Merger Sub, with Merger Sub surviving the Merger and continuing to be a wholly-owned subsidiary of Pyxis. On October 28, 2015, the Merger was consummated and the Company’s shares commenced their listing on the NASDAQ Capital Markets thereafter. Pyxis was both the legal and accounting acquirer of LS. The acquisition by Pyxis of LS was not an acquisition of an operating company as the business, assets and liabilities of LS were spun-off prior to the Merger. As such, for accounting purposes, the Merger between Merger Sub and LS was accounted for as a capital transaction rather than as a business combination. PYXIS MARITIME CORP. (“Maritime”), a corporation established under the laws of the Republic of the Marshall Islands, which is beneficially owned by Mr. Valentis, provides certain ship management services to the Vessel-owning companies (Note 3). With effect from the delivery of each vessel, the crewing and technical management of the vessels were contracted to INTERNATIONAL TANKER MANAGEMENT LTD. (“ITM”) with permission from Maritime. ITM is an unrelated third party technical manager, represented by its branch based in Dubai, UAE. Each ship-management agreement with ITM is in force until it is terminated by either party. The ship-management agreements can be cancelled either by the Company or ITM for any reason at any time upon three months’ advance notice. In September 2010, Secondone and Thirdone entered into commercial management agreements with NORTH SEA TANKERS BV ( “ Northsea Alpha Northsea Beta Northsea Beta Northsea Alpha As of December 31, 2018, Mr. Valentis beneficially owned approximately 80.9% of the Company’s common stock.

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Significant Accounting Policies	2. Significant Accounting Policies: (a) Changes in accounting policies: Revenues, net: The following table presents the Company’s revenue disaggregated by revenue source, net of commissions, for the years ended December 31, 2016, 2017 and 2018: December 31, 2016 December 31, 2017 December 31, 2018 Voyage revenues derived from spot charters, net $ 9,295 $ 16,668 $ 16,990 Voyage revenues derived from time charters, net 21,092 12,911 11,467 Revenues, net $ 30,387 $ 29,579 $ 28,457 As of January 1, 2018, the Company adopted Accounting Standard Update (“ASU”) 2014-09 “ Revenue from Contracts with Customers (Topic 606) The Company elected to adopt ASC 606 by applying the modified retrospective transition method, recognizing the cumulative effect of adopting this guidance as an adjustment to the 2018 opening balance of accumulated deficit. As of December 31, 2017, there were no vessels employed under spot charters and as a result, the Company has not included any adjustments to the 2018 opening balance of accumulated deficit and prior periods were not retrospectively adjusted. The Company assessed its contracts with charterers for spot charters during the year ended December 31, 2018 and concluded that there is one single performance obligation for its spot charter, which is to provide the charterer with a transportation service within a specified time period. In addition, the Company has concluded that a spot charter meets the criteria to recognize revenue over time as the charterer simultaneously receives and consumes the benefits of the Company’s performance. The adoption of this standard resulted in a change whereby the Company’s method of revenue recognition changed from discharge-to-discharge (assuming a new charter has been agreed before the completion of the previous spot charter) to load-to-discharge. This resulted in no revenue being recognized from discharge of the prior spot charter to loading of the current spot charter and all revenue being recognized from loading of the current spot charter to discharge of the current spot charter. This change results in revenue being recognized later in the voyage, which may cause additional volatility in revenues and earnings between periods. Demurrage income represents payments by a charterer to a vessel owner when loading or discharging time exceeds the stipulated time in the spot charter. The Company has determined that demurrage represents a variable consideration and estimates demurrage at contract inception. Demurrage income estimated, net of address commission, is recognized over the time of the charter as the performance obligation is satisfied. Under a spot charter, the Company incurs and pays for certain voyage expenses, primarily consisting of brokerage commissions, port and canal costs and bunker consumption, during the spot charter (load-to-discharge) and during the ballast voyage (date of previous discharge to loading, assuming a new charter has been agreed before the completion of the previous spot charter). Before the adoption of ASC 606, all voyage expenses were expensed as incurred, except for brokerage commissions. Brokerage commissions are deferred and amortized over the related voyage period in a charter to the extent revenue has been deferred since commissions are earned as the Company’s revenues are earned. Under ASC 606 and after the implementation of ASC 340-40 “Other assets and deferred costs” In addition, pursuant to this standard and the new Leases standard (discussed below), as of January 1, 2018, the Company elected to present Revenues net of address commissions. Address commissions represent a discount provided directly to the charterers based on a fixed percentage of the agreed upon charter. Since address commissions represent a discount (sales incentive) on services rendered by the Company and no identifiable benefit is received in exchange for the consideration provided to the charterer, these commissions are presented as a reduction of revenue in the accompanying consolidated statements of comprehensive loss. In this respect, for the year ended December 31, 2016 and 2017, Revenues, net and Voyage related costs and commissions each decreased by $323 and $247, respectively. This reclassification has no impact on the Company’s consolidated financial position and results of operations for any of the periods presented. The Company does not disclose the value of unsatisfied performance obligations for contracts with an original expected length of one year or less, in accordance with the optional exception in ASC 606. Revenues for the years ended December 31, 2016, 2017 and 2018, deriving from significant charterers individually accounting for 10% or more of revenues (in percentages of total revenues), were as follows: Charterer 2016 2017 2018 A — 15 % — B 12 % — — C 20 % 16 % — D 14 % — — E 10 % — — F — 18 % — G — — 23 % H — — 15 % 56 % 49 % 38 % Leases: Leases (Topic 842) , which was amended and supplemented by ASU 2017-13, ASU 2018-01 and ASU 2018-11. The new lease standard does not substantially change lessor accounting Lessees and lessors will be required to apply the new standard at the beginning of the earliest period presented in the financial statements in which they first apply the new guidance, using a modified retrospective transition method. (i) provides entities with an additional (and optional) transition method to adopt the new leases standard, under which an entity initially applies the new leases standard at the adoption date and recognizes a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption consistent with preparers’ requests and (ii) provide lessors with a practical expedient, by class of underlying asset, to not separate non-lease components from the associated lease component and, instead, to account for those components as a single component if both of the following are met: (a) The timing and pattern of transfer of the non-lease component(s) and associated lease component are the same and (b) The lease component, if accounted for separately, would be classified as an operating lease. If the non-lease component or components associated with the lease component are the predominant component of the combined component, an entity is required to account for the combined component in accordance with ASC 606. Otherwise, the entity should account for the combined component as an operating lease in accordance with ASC 842. The Company elected to early adopt ASC 842 as of September 30, 2018 with adoption reflected as of January 1, 2018. The Company adopted the standard by using the modified retrospective method and selected the additional optional transition method. The Company also selected to apply all the practical expedients discussed above. In this respect no cumulative-effect adjustment was recognized . the lease component of the time charter contracts, if accounted for separately, would be classified as an operating lease, and Restricted Cash: Statement of Cash Flows (Topic 230): Restricted Cash The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the accompanying consolidated balance sheets that are presented in the accompanying consolidated statement of cash flows for the years ended December 31, 2016, 2017 and 2018. December 31, 2016 December 31, 2017 December 31, 2018 Cash and cash equivalents $ 783 $ 1,693 $ 545 Restricted cash, current portion 143 141 255 Restricted cash, net of current portion 4,857 4,859 3,404 Total cash and cash equivalents and restricted cash $ 5,783 $ 6,693 $ 4,204 Business combinations: (b) Principles of Consolidation: Pyxis, as the holding company, determines whether it has a controlling financial interest in an entity by first evaluating whether the entity is a voting interest entity or a variable interest entity. Under Accounting Standards Codification (“ASC”) 810 “Consolidation” a voting interest entity is an entity in which the total equity investment at risk is sufficient to enable the entity to finance itself independently and provides the equity holders with the obligation to absorb losses, the right to receive residual returns and the right to make financial and operating decisions. Pyxis consolidates voting interest entities in which it owns all, or at least a majority (generally, greater than 50%), of the voting interest. Variable interest entities (“VIE”) are entities as defined under ASC 810-10, that in general either do not have equity investors with voting rights or that have equity investors that do not provide sufficient financial resources for the entity to support its activities. A controlling financial interest in a VIE is present when a company absorbs a majority of an entity’s expected losses, receives a majority of an entity’s expected residual returns, or both. The company with a controlling financial interest, known as the primary beneficiary, is required to consolidate the VIE. Pyxis evaluates all arrangements that may include a variable interest in an entity to determine if it may be the primary beneficiary, and would be required to include assets, liabilities and operations of a VIE in its consolidated financial statements. As of December 31, 2018, no such interest existed. (c) Use of Estimates: (d) Comprehensive Income / (Loss): (e) Foreign Currency Translation: (f) Commitments and Contingencies: (g) Insurance Claims Receivable: (h) Concentration of Credit Risk: (i) Cash and Cash Equivalents and Restricted Cash: (j) Income Taxation: Under the laws of the Republic of Malta, the country of incorporation of the Vessel-owning companies, and/or the vessels’ registration, the Vessel-owning companies are not liable for any income tax on their income derived from shipping operations. The Republic of Malta is a country that has an income tax treaty with the United States. Accordingly, income earned by our subsidiaries organized under the laws of Malta may qualify for a treaty-based exemption. In fact Article 8 (Shipping and Air Transport) of that Treaty sets out the relevant rule to the effect that profits of an enterprise of a Contracting State from the operation of ships in international traffic shall be taxable only in that State. (k) Inventories: (l) Trade Accounts Receivable, Net: (m) Vessels, Net: The cost of each of the Company’s vessels is depreciated from the date of acquisition on a straight-line basis over the vessels’ remaining estimated economic useful life, after considering the estimated residual value. A vessel’s residual value is equal to the product of its lightweight tonnage and estimated scrap rate of $0.300 per ton. The Company estimates the useful life of the Company’s vessels to be 25 years from the date of initial delivery from the shipyard. In the event that future regulations place limitations over the ability of a vessel to trade on a worldwide basis, its remaining useful life will be adjusted at the date such regulations are adopted. (n) Impairment of Long Lived Assets: In developing estimates of future undiscounted cash flows, the Company makes assumptions and estimates about the vessels’ future performance, with the significant assumptions relating to time charter equivalent rates by vessel type, vessels’ operating expenses, vessels’ capital expenditures, vessels’ residual value, fleet utilization and the estimated remaining useful life of each vessel. The assumptions used to develop estimates of future undiscounted cash flows are based on historical trends as well as future expectations. To the extent impairment indicators are present, the projected net operating cash flows are determined by considering the charter revenues from existing time charters for the fixed days and an estimated daily time charter rate for the unfixed days (based on recent market estimates for the first year and the most recent seven year historical average rates, where available thereafter, over the remaining estimated useful life of the vessels), expected outflows for vessels’ operating expenses, planned dry-docking and special survey expenditures, management fees expenditures which are adjusted every year, pursuant to the Company’s existing group management agreement, and fleet utilization of 85.0% to 98.6% (depending on the type of the vessel) for the first year and 98.0% or 93.0%, including scheduled off-hire days for planned dry-dockings and vessel surveys, for the years thereafter, based on historical experience. The residual value used in the impairment test is estimated to be approximately $0.3 per lightweight ton in accordance with the vessels’ depreciation policy. As of December 31, 2016, the Company obtained market valuations for all its vessels from reputable marine appraisers. Based on these valuations, the Company identified impairment indications for all of its vessels, except for the Pyxis Epsilon Northsea Alpha Northsea Beta As of December 31, 2017, the Company obtained market valuations for all its vessels from reputable marine appraisers. Based on these valuations, the Company identified impairment indications for certain of its vessels. More specifically, the market values of these vessels were, in aggregate, $8,299 lower than their carrying values, including any unamortized deferred charges relating to special survey costs, as of that date. In this respect, the Company performed an impairment analysis to estimate the future undiscounted cash flows for each of these vessels. The analysis resulted in higher undiscounted cash flows than each vessel’s carrying value as of December 31, 2017 and, accordingly, no adjustment to the vessels’ carrying values was required. As of December 31, 2018, the Company obtained market valuations for all its vessels from reputable marine appraisers. Based on these valuations, the Company identified impairment indications for all of its vessels, except for the Pyxis Epsilon Northsea Alpha Northsea Beta, (o) Financial Derivative Instruments: The Company discontinues cash flow hedge accounting if the hedging instrument expires and it no longer meets the criteria for hedge accounting or its designation is revoked by the Company. At that time, any cumulative gain or loss on the hedging instrument recognized in equity is kept in equity until the forecasted transaction occurs. When the forecasted transaction occurs, any cumulative gain or loss on the hedging instrument is recognized in consolidated statement of comprehensive loss. If a hedged transaction is no longer expected to occur, the net cumulative gain or loss recognized in equity is transferred to current period consolidated statement of comprehensive loss as financial income or expense. (p) Accounting for Special Survey and Dry-docking Costs: (q) Financing Costs: (r) Fair Value Measurements: (s) Segment Reporting: (t) Earnings / (loss) per Share: (u) Stock Compensation: (v) Going Concern: As of December 31, 2018 the Company had a working capital deficit of $9,238, defined as current assets minus current liabilities. As of the filing date of the consolidated financial statements, the Company expects that it will be in a position to cover its liquidity needs for the next 12-month period through cash generated from operations and by managing its working capital requirements. In addition, the Company may consider the raising of capital including, debt, equity securities, joint ventures and / or sale of assets. Furthermore, the Company expects to be in compliance with the financial covenants under its existing debt agreements as discussed in Note 7 for the following 12-month period following the filing date if the consolidated financial statements. (w) New Accounting Pronouncements: Financial Instruments: Fair Value Measurement: The guidance makes the following modifications for public entities: (i) entities are required to provide information about the measurement uncertainty of Level 3 fair value measurements as of the reporting date rather than a point in the future (the FASB also deleted the word “sensitivity,” which it said had caused confusion about whether the disclosure is intended to convey changes in unobservable inputs at a point in the future) and (ii) entities that use the practical expedient to measure the fair value of certain investments at their net asset values are required to disclose (1) the timing of liquidation of an investee’s assets and (2) the date when redemption restrictions will lapse, but only if the investee has communicated this information to the entity or announced it publicly. The amendments in this Update are effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019, although early adoption is permitted. The Company is in the process of assessing the impact of the provisions of this guidance on the Company’s consolidated financial position and performance.

Transactions with Related Parti

Transactions with Related Parties	12 Months Ended
	Dec. 31, 2018
Related Party Transactions [Abstract]
Transactions with Related Parties	3. Transactions with Related Parties: The Company uses the services of Maritime, a ship management company with its principal office in Greece and an office in the U.S.A. Maritime is engaged under separate management agreements directly by the Company’s respective subsidiaries to provide a wide range of shipping services, including but not limited to, chartering, sale and purchase, insurance, operations and dry-docking and construction supervision, all provided at a fixed daily fee per vessel. For the ship management services, Maritime charges a fee payable by each subsidiary of $0.325 per day per vessel while the vessel is in operation including any pool arrangements (or $0.160 per day for as long as the chartering services for the Northsea Alpha Northsea Beta Northsea Beta Northsea Alpha The management agreements for the vessels have an initial term of five years. For the Northsea Alpha Northsea Beta Pyxis Delta Pyxis Theta Pyxis Epsilon Pyxis Malou Under a Head Management Agreement (the “Head Management Agreement”) with Maritime that commenced on March 23, 2015 and will continue until March 23, 2020 (unless terminated by either party on 90 days’ notice), Maritime provides administrative services to the Company, which include, among other, the provision of the services of the Company’s Chief Executive Officer, Chief Financial Officer, Senior Vice President of Corporate Development, General Counsel and Corporate Secretary, Chief Operating Officer, one or more internal auditor(s) and a secretary, as well as the use of office space in Maritime’s premises. Following the initial expiration date, the Head Management Agreement will automatically be renewed for a five year period. Under the Head Management Agreement, the Company pays Maritime a fixed fee of $1,600 annually (the “Administration Fees”). In the event of a change of control of the Company during the management period or within 12 months after the early termination of the Head Management Agreement, then the Company will pay to Maritime an amount equal to 2.5 times the then annual Administration Fees. The Ship-management Fees and the Administration Fees are adjusted annually according to the official inflation rate in Greece or such other country where Maritime was headquartered during the preceding year. On August 9, 2016, the Company amended the Head Management Agreement with Maritime to provide that in the event that the official inflation rate for any calendar year is deflationary, no adjustment shall be made to the Ship-management Fees and the Administration Fees, which will remain, for the particular calendar year, as per the previous calendar year. Effective January 1, 2018 and 2019, the Ship-management Fees and the Administration Fees were increased by 1.12% and 0.62%, respectively in line with the average inflation rate in Greece in 2017 and 2018, respectively. The following amounts were charged by Maritime pursuant to the head management and ship-management agreements with the Company, and are included in the accompanying consolidated statements of comprehensive loss: Year Ended December 31, 2016 2017 2018 Included in Voyage related costs and commissions Charter hire commissions $ 316 $ 368 $ 354 Included in Management fees, related parties Ship-management Fees 631 712 720 Included in General and administrative expenses Administration Fees 1,600 1,600 1,618 Total $ 2,547 $ 2,680 $ 2,692 On October 28, 2015, the Company issued a promissory note in the amount of $2.5 million in favor of Maritime Investors in connection with its election to receive a portion of the merger true-up shares in the form of a promissory note. The promissory note also includes amounts due to Maritime Investors for the payment of $0.6 million by Maritime Investors to LookSmart, representing the cash consideration of the merger, and the amounts that allowed the Company to pay miscellaneous transactional costs. The promissory note had a maturity of January 15, 2017 and an interest rate of 2.75% per annum. On August 9, 2016, the Company agreed with Maritime Investors to extend the maturity of the promissory note for one year, from January 15, 2017 to January 15, 2018, at the same terms and at no additional cost to us. In addition, on March 7, 2017, the Company agreed with Maritime Investors to further extend the maturity of the promissory note for one additional year, from January 15, 2018 to January 15, 2019, at the same terms and at no additional costs to the Company. On December 29, 2017, the Company entered into a third amendment to the promissory note (“Amended& Restated Promissory Note”), pursuant to which (i) the outstanding principal balance increased from $2.5 million to $5.0 million, (ii) the maturity date was extended to June 15, 2019, and (iii) the fixed interest rate was increased to 4.00% per annum, payable only in cash. In exchange for entering into the third amendment, the Company reduced the outstanding balance due to Maritime by $2.5 million. On June 29, 2018, the Company entered into an amendment to the Amended & Restated Promissory Note pursuant to which (i) the maturity date was extended to March 31, 2020, and (ii) the interest rate was increased to 4.5% per annum until repayment in full. Total interest expense on promissory note for the years ended December 31, 2016, 2017 and 2018, amounted to $69, $70 and $213, respectively, and is included in Interest and finance costs, net (Note 12) in the accompanying consolidated statements of comprehensive loss. Under the terms of the credit facility agreement of one of the Company’s subsidiaries, Eighthone Corp. with EntrustPermal, no repayment of principal under the Amended & Restated Promissory Note may be made while any Paid In Kind (“PIK”) interest or Principal Deficiency Amount (as defined in the credit facility agreement) is outstanding under the credit facility. As of December 31, 2017 and 2018, the balances due to Maritime were $2,125 and $3,402, respectively and are reflected in Due to related parties in the accompanying consolidated balance sheets. The balance with Maritime is interest free and with no specific repayment terms.

Inventories

Inventories	12 Months Ended
	Dec. 31, 2018
Inventory Disclosure [Abstract]
Inventories	4. Inventories: The amounts in the accompanying consolidated balance sheets are analyzed as follows: December 31, 2017 December 31, 2018 Lubricants $ 404 $ 428 Bunkers 612 379 Total $ 1,016 $ 807

Vessels, Net

Vessels, Net	12 Months Ended
	Dec. 31, 2018
Property, Plant and Equipment [Abstract]
Vessels, Net	5. Vessels, net: The amounts in the accompanying consolidated balance sheets are analyzed as follows: Vessel Accumulated Net Book Cost Depreciation Value Balance January 1, 2016 $ 147,789 $ (17,288 ) $ 130,501 Depreciation — (5,768 ) (5,768 ) Vessel impairment charge (9,729 ) 6,337 (3,392 ) Balance December 31, 2016 138,060 (16,719 ) 121,341 Depreciation — (5,567 ) (5,567 ) Balance December 31, 2017 138,060 (22,286 ) 115,774 Depreciation — (5,500 ) (5,500 ) Vessel impairment charge (3,750 ) 1,468 (2,282 ) Balance December 31, 2018 $ 134,310 $ (26,318 ) $ 107,992 As of December 31, 2016, the Company reviewed the carrying amount in connection with the estimated recoverable amount for each of its vessels. This review indicated that such carrying amount was not fully recoverable for the Company’s vessels Northsea Alpha Northsea Beta As of December 31, 2018, the Company reviewed the carrying amount in connection with the estimated recoverable amount for each of its vessels. This review indicated that such carrying amount was not fully recoverable for the Company’s vessels Northsea Alpha Northsea Beta All of the Company’s vessels have been pledged as collateral to secure the bank loans discussed in Note 7.

Deferred Charges, Net

Deferred Charges, Net	12 Months Ended
	Dec. 31, 2018
Deferred Charges Net
Deferred Charges, Net	6. Deferred charges, net: The movement in the deferred charges, net in the accompanying consolidated balance sheets are as follows: Dry docking costs Balance, January 1, 2016 $ 836 Additions 364 Amortization (236 ) Impairment charge (606 ) Balance, December 31, 2016 358 Amortization (73 ) Balance, December 31, 2017 285 Additions 588 Amortization (133 ) Balance, December 31, 2018 $ 740 The amortization of the dry docking costs is separately reflected in the accompanying consolidated statements of comprehensive loss. The impairment charge of $606 relates to the impairments of the Northsea Alpha Northsea Beta

Long-term Debt

Long-term Debt	12 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
Long-term Debt	7. Long-term Debt: The amounts shown in the accompanying consolidated balance sheets at December 31, 2017 and 2018, are analyzed as follows: Vessel (Borrower) December 31, 2017 December 31, 2018 (a) Northsea Alpha (Secondone) $ 4,348 $ 4,055 (a) Northsea Beta (Thirdone) 4,348 4,055 (b) Pyxis Malou (Fourthone) 18,210 11,190 (c) Pyxis Delta (Sixthone) 7,087 5,400 (c) Pyxis Theta (Seventhone) 15,975 14,722 (d) Pyxis Epsilon (Eighthone) 16,900 24,000 Total $ 66,868 $ 63,422 Current portion $ 7,440 $ 4,503 Less: Current portion of deferred financing costs (136 ) (170 ) Current portion of long-term debt, net of deferred financing costs, current $ 7,304 $ 4,333 Long-term portion $ 59,428 $ 58,919 Less: Non-current portion of deferred financing costs (302 ) (790 ) Long-term debt, net of current portion and deferred financing costs, non-current $ 59,126 $ 58,129 (a) On September 26, 2007, Secondone and Thirdone jointly entered into a loan agreement with a financial institution for an amount of up to $24,560, in order to partly finance the acquisition cost of the vessels Northsea Alpha Northsea Beta (b) Based on a loan agreement concluded on December 12, 2008, Fourthone borrowed $41,600 in February 2009 in order to partly finance the acquisition cost of the Pyxis Malou On February 28, 2018, the Company refinanced the then existing indebtedness of $26,906 under the Secondone, Thirdone and Fourthone loan agreements with a new 5-year secured loan of $20,500 and cash of $2,100. The remaining balance of $4,306 was written-off by the previous lender at closing, which was recorded as gain from debt extinguishment in the 2018 consolidated statement of comprehensive loss. Each of Secondone’s and Thirdone’s outstanding loan balance at December 31, 2018, amounting to $4,055, is repayable in 17 remaining quarterly installments amounting to $1,665 in the aggregate, the first falling due in February 2019, and the last installment accompanied by a balloon payment of $2,390 falling due in February 2023. The first installment, amounting to $65 each, is followed by 16 amounting to $100 each. As of December 31, 2018, the outstanding balance of Fourthone loan of $11,190 is repayable in 17 remaining quarterly installments amounting to $5,790, the first falling due in February 2019, and the last installment accompanied by a balloon payment of $5,400 falling due in February 2023. The first installment, amounting to $270, is followed by four amounting to $300 each, four amounting to $330 each, four amounting to $360 each and four amounting to $390 each. The new loan bears interest at LIBOR plus a margin of 4.65% per annum. As a condition subsequent to the execution of this loan agreement, the borrowers, Secondone, Thirdone and Fourthone, were required to re-domicile to the jurisdiction of the Republic of Malta. In March and April 2018, these vessel-owning companies completed their re-domiciliation and were renamed to SECONDONE CORPORATION LTD., THIRDONE CORPORATION LTD. and FOURTHONE CORPORATION LTD., respectively. Standard loan covenants include, among others, a minimum liquidity and a minimum required Security Cover Ratio (“MSC”). Covenants: ● The Company undertakes to maintain minimum deposits with the bank of $1,450 at all times, plus Maintenance Account of $145 per quarter ($85 for Fourthone and $30 for each of Secondone and Thirdone) until next special survey. ● MSC is to be at least 140% of the respective outstanding loan balance until February 2020, at least 150% until February 2022 and at least 155% thereafter. (c) On October 12, 2012, Sixthone and Seventhone concluded as joint and several borrowers a loan agreement with a financial institution in order to partly finance the acquisition and construction cost of the Pyxis Delta Pyxis Theta The outstanding balance of the loan under Tranche A at December 31, 2018, of $5,400, is repayable in 15 quarterly installments of $338 each, the first falling due in March 2019, and the last installment accompanied by a balloon payment of $330 falling due in September 2022. In addition, the outstanding balance of the loan under Tranche B at December 31, 2018, of $14,722, is repayable in 15 quarterly installments of $313 each, the first falling due in March 2019, and the last installment accompanied by a balloon payment of $10,027 falling due in September 2022. The main terms and conditions of the loan agreement dated October 12, 2012, as subsequently amended, are as follows: ● The loan bears interest at LIBOR, plus a margin of 3.35% per annum. Covenants: ● The Company undertakes to maintain minimum deposits with the bank of $1,000 at all times. ● The ratio of the Company’s total liabilities to market value adjusted total assets is not to exceed 65%. This requirement is only applicable in order to assess whether the two Vessel-owning companies are entitled to distribute dividends to Pyxis. As of December 31, 2017, the requirement was met as such ratio was marginally lower than 65%. As of December 31, 2018, the relevant ratio was 68%, or 3% higher than the required threshold. ● MSC is to be at least 130% of the respective outstanding loan balance. (d) Based on a loan agreement concluded on January 12, 2015, Eighthone borrowed $21,000 on the same date in order to partly finance the construction cost of the Pyxis Epsilon On September 27, 2018, Eighthone entered into a new $24,000 loan agreement, for the purpose of refinancing the outstanding indebtedness of $16,000 under the previous loan facility and for general corporate purposes. The new facility matures in September 2023 and is secured by a first priority mortgage over the vessel, general assignment covering earnings, insurances and requisition compensation, an account pledge agreement and a share pledge agreement concerning the respective vessel-owning subsidiary and technical and commercial managers’ undertakings. The new loan facility bears an interest rate of 11% of which 1.0% can be paid as PIK interest per annum for first two years, and 11.0% per annum thereafter and incurs fees due upfront and upon early prepayment or final repayment of outstanding principal. The principal obligation amortizes in 18 quarterly installments starting in March 29, 2019, equal to the lower of $400 and excess cash computed through a cash sweep mechanism, plus a balloon payment due at maturity. As of December 31, 2018, the Company has assessed that no excess cash will be available to proceed with any debt repayment within the next twelve months, therefore no principal amortization will occur through December 31, 2019. The facility also imposes certain customary covenants and restrictions with respect to, among other things, the borrower’s ability to distribute dividends, incur additional indebtedness, create liens, change its share capital, engage in mergers, or sell the vessel and a minimum collateral value to outstanding loan principal. Covenants: ● The Company undertakes to maintain minimum deposits with the bank of $750 at all times, plus an additional Dry Docking and Special Survey Reserve of $0.25 per day accumulated quarterly. ● MSC is to be at least 115% of the respective outstanding loan balance until September, 2020 and at least 125% thereafter. Under the facility, a deferred fee may be payable on the occurrence of certain events including, among others, the sale of the vessel or on repayment or maturity of the loan. If payable, the amount due is calculated as the lesser of (a) 15% of the amount of the loan borrowed under the facility agreement and (b) 15% of the difference between (i) the charter-free fair market value of the vessel plus any dry dock reserve account balance and (ii) any outstanding loan amount at the time of the repayment or maturity of the facility. In the event that the deferred fee and the prepayment fee become simultaneously payable, only the higher of the prepayment fee or the deferred fee will be payable. Management has assessed this deferred fee as a contingent liability under ASC 450 and concluded that such loss contingency shall not be accrued by a charge in the consolidated statements of comprehensive loss, since information available does not indicate that is probable that the liability has been incurred as of the balance sheet date at December 31, 2018 and cannot be estimated. Each loan is secured by a first priority mortgage over the respective vessel and a first priority assignment of the vessel’s insurances and earnings. Each loan agreement contains customary ship finance covenants including restrictions as to changes in management and ownership of the vessel and in dividend distributions when certain financial ratios are not met. As of December 31, 2018, the Company was in compliance with all of its financial and MSC covenants with respect to its loan agreements, other than the ratio of total liabilities over the market value of the Company’s adjusted total assets with one of its lenders, which only restricts the ability of two vessel-owning companies to distribute dividends to Pyxis as discussed above in 7(c). In addition, as of December 31, 2018, there was no amount available to be drawn down by the Company under its existing loan agreements. Assuming no principal repayments under the new loan of Eighthone discussed above, the annual principal payments required to be made after December 31, 2018, are as follows: To December 31, Amount 2019 $ 4,503 2020 4,693 2021 4,813 2022 14,643 2023 34,770 2024 and thereafter - Total $ 63,422 Total interest expense on long-term debt for the years ended December 31, 2016, 2017 and 2018, amounted to $2,577, $2,674 and $3,835, respectively, and is included in Interest and finance costs, net (Note 12) in the accompanying consolidated statements of comprehensive loss. The Company’s weighted average interest rate (including the margin) for the years ended December 31, 2016, 2017 and 2018, was 3.27%, 3.74% and 6.00% per annum, including the promissory note discussed in Note 3, respectively.

Equity Capital Structure and Eq

Equity Capital Structure and Equity Incentive Plan	12 Months Ended
	Dec. 31, 2018
Retirement Benefits [Abstract]
Equity Capital Structure and Equity Incentive Plan	8. Equity Capital Structure and Equity Incentive Plan: The Company’s authorized common and preferred stock consists of 450,000,000 common shares and 50,000,000 preferred shares with a par value of USD 0.001 per share. The amounts shown in the accompanying consolidated balance sheets as Additional paid-in capital represent contributions made by the stockholders at various dates to finance vessel acquisitions in excess of the amounts of bank loans obtained and advances for working capital purposes, net of subsequent distributions primarily from re-imbursement of certain payments to shipyards in respect to the construction of new-built vessels. There was no paid-in capital re-imbursement for the years ended December 31, 2017 and 2018. On October 28, 2015, the Company’s board of directors approved an equity incentive plan (the “EIP”), providing for the granting of share-based awards to directors, officers and employees of the Company and its affiliates and to its consultants and service providers. The maximum aggregate number of shares of common stock of the Company that may be delivered pursuant to awards granted under the EIP, shall be equal to 15% of the then issued and outstanding number of shares of common stock. On the same date the Company’s board of directors approved the issuance of 33,222 restricted shares of the Company’s common stock to certain of its officers that were issued later in 2016. On November 15, 2017, 200,000 restricted shares of the Company’s common stock were granted and issued to a senior officer of the Company, which were vested immediately upon issuance. The fair value of such restricted shares based on the average of the high-low trading price of the shares on November 15, 2017, was $355, which was recorded as a non-cash stock compensation and included in the consolidated statement of comprehensive loss under General and administrative expenses for the year ended December 31, 2017. During the year ended December 31, 2018, no additional shares were granted under the EIP and as of December 31, 2018, there was no unrecognized compensation cost. On December 6, 2017, the Company entered into a securities purchase agreement (the “Purchase Agreement”) with certain accredited investors (the “Investors”), pursuant to which the Company, in a private placement, agreed to issue and sell to the Investors an aggregate of 2,400,000 shares of its common stock at a price per share of $2.00 (the “Private Placement”). As a condition of the Purchase Agreement, the Company, Maritime Investors and each of the Company’s directors and executive officers entered into lock-up agreements pursuant to which they could not, among other things, offer or sell shares of the Company’s common stock until the earlier of i) 30 days after effective date (as defined therein) and ii) the disposition by the Investors of all of the shares of common stock they received in the Private Placement. In connection with the Private Placement, the Company also entered into a registration rights agreement with the Investors, pursuant to which the Company was obligated to prepare and file with the Securities and Exchange Commission (“SEC”) a registration statement to register for resale the registrable securities (as defined therein) on or prior to December 21, 2017. The Private Placement closed on December 8, 2017, resulting in gross proceeds of $4,800, before deducting offering expenses of approximately $509, which were used for general corporate purposes, including the repayment of outstanding indebtedness. On December 19, 2017, the Company filed with the SEC a registration statement on Form F-3 to register for resale the shares of common stock issued under the Purchase Agreement, which was declared effective on January 3, 2018. On February 2, 2018, the Company filed with the SEC a registration statement on Form F-3, under which it may sell from time to time common stock, preferred stock, debt securities, warrants, purchase contracts and units, each as described therein, in any combination, in one or more offerings up to an aggregate dollar amount of $100,000. In addition, the selling stockholders referred to in the registration statement may sell in one of more offerings up to 5,233,222 shares of the Company’s common stock from time to time as described therein. The registration statement was declared effective by the SEC on February 12, 2018. As of December 31, 2017 and following the issuance of the 200,000 shares of common stock under the EIP, as well as the issuance of the 2,400,000 shares of common stock pursuant to the Private Placement, both discussed above, the Company’s outstanding common shares increased from 18,277,893 to 20,877,893. As of December 31, 2018 following the issuance and sale of 182,297 shares of common stock under the At The Market (“ATM”) Program, the Company’s outstanding common shares increased from 20,877,893 to 21,060,190.

Loss Per Common Share

Loss Per Common Share	12 Months Ended
	Dec. 31, 2018
Loss Per Common Share
Loss Per Common Share	9. Loss per Common Share: For the years ended December 31, 2016 2017 2018 Net loss available to common stockholders $ (5,813 ) $ (5,243 ) $ (8,214 ) Weighted average number of common shares, basic and diluted 18,277,893 18,461,455 20,894,202 Loss per common share, basic and diluted $ (0.32 ) $ (0.28 ) $ (0.39 )

Risk Management and Fair Value

Risk Management and Fair Value Measurements	12 Months Ended
	Dec. 31, 2018
Risk Management And Fair Value Measurements
Risk Management and Fair Value Measurements	10. Risk Management and Fair Value Measurements: The principal financial assets of the Company consist of cash and cash equivalents and trade accounts receivable due from charterers. The principal financial liabilities of the Company consist of long-term bank loans, trade accounts payable, amounts due to related parties and a promissory note. Interest rate risk Credit risk Currency risk Fair value: Carrying Value Fair Value Cash and cash equivalents $ 4,204 $ 4,204 Trade accounts receivable, net $ 2,585 $ 2,585 Trade accounts payable $ 4,746 $ 4,746 Long-term debt with variable interest rates, net $ 39,422 $ 39,422 Long-term loans and promissory note with non-variable interest rates, net $ 29,000 $ 29,000 Assets measured at fair value on a recurring basis: Interest rate cap The Company’s interest rate cap does not qualify for hedge accounting. The Company adjusts its interest rate cap contract to fair market value at the end of every period and records the resulting gain or loss during the period in the consolidated statements of comprehensive loss. Information on the classification, the derivative fair value and the loss from financial derivative instrument included in the consolidated financial statements is shown below: Consolidated Balance Sheets – Location December 31, 2017 December 31, 2018 Financial derivative instrument – Other non-current assets $ - $ 28 Consolidated Statements of Comprehensive Loss - Location December 31, 2017 December 31, 2018 Financial derivative instrument – Initial cost $ - $ (47 ) Financial derivative instrument – Fair value as at period end - 28 Loss from financial derivative instrument $ - $ (19 ) Assets measured at fair value on a recurring basis: Interest rate cap The fair value of the Company’s interest rate cap agreement is determined based on market-based LIBOR rates. LIBOR rates are observable at commonly quoted intervals for the full term of the cap and therefore, are considered Level 2 items in accordance with the fair value hierarchy. Assets measured at fair value on a non-recurring basis: Long lived assets held and used As of December 31, 2016, the Company reviewed the carrying amount in connection with the estimated recoverable amount for each of its vessels. This review indicated that such carrying amount was not fully recoverable for the Company’s vessels Northsea Alpha Northsea Beta Vessel Significant Other Observable Inputs (Level 2) Impairment Loss charged against Impairment Loss charged against Vessel Impairment Charge Northsea Alpha $ 8,000 $ 1,770 $ 292 $ 2,062 Northsea Beta 8,000 1,622 314 1,936 TOTAL $ 16,000 $ 3,392 $ 606 $ 3,998 The fair value is based on level 2 inputs of the fair value hierarchy and reflects the Company’s best estimate of the value of each vessel on a time charter free basis, and is supported by a vessel valuation of an independent shipbroker as of December 31, 2016, which is mainly based on recent sales and purchase transactions of similar vessels. The Company recognized the total Vessel impairment charge of $3,998, which is included in the accompanying consolidated statements of comprehensive loss for the year ended December 31, 2016. No impairment loss was recognized for the year ended December 31, 2017. As of December 31, 2018, the Company reviewed the carrying amount in connection with the estimated recoverable amount for each of its vessels. This review indicated that such carrying amount was not fully recoverable for the Company’s vessels Northsea Alpha Northsea Beta Vessel Significant Other Observable Inputs (Level 2) Vessel Impairment Charge (charged against Vessels, net) Northsea Alpha $ 6,125 $ 1,142 Northsea Beta 6,125 1,140 TOTAL $ 12,250 $ 2,282 The fair value is based on level 2 inputs of the fair value hierarchy and reflects the Company’s best estimate of the value of each vessel on a time charter free basis, and is supported by a vessel valuation of an independent shipbroker as of March 31, 2018 and December 31, 2018, respectively, which is mainly based on recent sales and purchase transactions of similar vessels. The Company recognized the total Vessel impairment charge of $2,282 which is included in the accompanying consolidated statements of comprehensive loss for the year ended December 31, 2018. The Company performs an impairment exercise whenever there are indicators of impairment. As of December 31, 2017 and 2018, the Company did not have any other assets or liabilities measured at fair value on a non- recurring basis.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	11. Commitments and Contingencies: Minimum contractual charter revenues: The Company employs certain of its vessels under lease agreements. Time charters typically may provide for variable lease payments, charterers’ options to extend the lease terms at higher rates and termination clauses. The Company’s contracted time charters as of December 31, 2018, range from one to three months, with varying extension periods at the charterers’ option and do not provide for variable lease payments. Our time charters contain customary termination clauses which protect either the Company or the charterers from material adverse situations. Future minimum contractual charter revenues, gross of 1.25% address commission and 1.25% brokerage commissions to Maritime and of any other brokerage commissions to third parties, based on the vessels’ committed, non-cancelable, long-term time charter contracts as of December 31, 2018, are as follows: Year ending December 31, Amount 2019 $ 2,813 $ 2,813 Make-Whole and Put Right Other The Company accrues for the cost of environmental and other liabilities when management becomes aware that a liability is probable and is able to reasonably estimate the probable exposure. Currently, management is not aware of any other claims or contingent liabilities, which should be disclosed or for which a provision should be established in the accompanying consolidated financial statements. The Company is covered for liabilities associated with the individual vessels’ actions to the maximum limits as provided by Protection and Indemnity (P&I) Clubs, members of the International Group of P&I Clubs.

Interest and Finance Costs, Net

Interest and Finance Costs, Net	12 Months Ended
	Dec. 31, 2018
Interest And Finance Costs Net
Interest and Finance Costs, Net	12. Interest and Finance Costs, net: The amounts in the accompanying consolidated statements of comprehensive loss are analyzed as follows: For the years ended December 31, 2016 2017 2018 Interest on long-term debt (Note 7) $ 2,577 $ 2,674 $ 3,835 Interest on promissory note (Note 3) 69 70 213 Long-term debt prepayment fees — — 56 Amortization and write-off of financing costs 164 153 386 Total $ 2,810 $ 2,897 $ 4,490

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2018
Subsequent Events [Abstract]
Subsequent Events	13. Subsequent Events: The Company evaluated subsequent events up to March 29, 2019 and assessed that there are no subsequent events that should be disclosed.

Schedule I - Condensed Financia

Schedule I - Condensed Financial Information of PYXIS TANKERS INC. (Parent Company Only)	12 Months Ended
	Dec. 31, 2018
Condensed Financial Information Disclosure [Abstract]
Schedule I - Condensed Financial Information of PYXIS TANKERS INC. (Parent Company Only)	Schedule I – Condensed Financial Information of PYXIS TANKERS INC. (Parent Company Only) Balance Sheets As at December 31, 2017 and 2018 (Expressed in thousands of U.S. Dollars, except for share and per share data) 2017 2018 ASSETS CURRENT ASSETS: Cash and cash equivalents $ — $ 17 Due from related parties 572 9,578 Prepayments and other assets 42 29 Total current assets 614 9,624 NON-CURRENT ASSETS: Restricted cash 2,695 — Investment in subsidiaries* 50,082 35,598 Total non-current assets 52,777 35,598 Total assets $ 53,391 $ 45,222 LIABILITIES AND STOCKHOLDERS’ EQUITY CURRENT LIABILITIES: Accounts payable $ 72 $ 162 Accrued and other liabilities 163 117 Total current liabilities 235 279 NON-CURRENT LIABILITIES: Promissory note 5,000 5,000 Total non-current liabilities 5,000 5,000 COMMITMENTS AND CONTINGENCIES — — STOCKHOLDERS’ EQUITY: Preferred stock ($0.001 par value; 50,000,000 shares authorized; none issued) — — Common stock ($0.001 par value; 450,000,000 shares authorized; 20,877,893 and 21,060,190 shares issued and outstanding as of December 31, 2017 and 2018, respectively) 21 21 Additional paid-in capital 74,766 74,767 Accumulated deficit (26,631 ) (34,845 ) Total stockholders’ equity 48,156 39,943 Total liabilities and stockholders’ equity $ 53,391 $ 45,222 * Eliminated on consolidation Schedule I – Condensed Financial Information of PYXIS TANKERS INC. (Parent Company Only) Statements of Comprehensive Loss For the years ended December 31, 2016, 2017 and 2018 (Expressed in thousands of U.S. Dollars, except for share and per share data) 2016 2017 2018 Expenses: General and administrative expenses $ (2,344 ) $ (3,121 ) $ (2,314 ) Operating loss (2,344 ) (3,121 ) (2,314 ) Other expenses: Interest and finance costs, net (72 ) (73 ) (215 ) Total other expenses, net (72 ) (73 ) (215 ) Equity in loss of subsidiaries* (3,397 ) (2,049 ) (5,685 ) Net loss $ (5,813 ) $ (5,243 ) $ (8,214 ) Loss per common share, basic and diluted $ (0.32 ) $ (0.28 ) $ (0.39 ) Weighted average number of shares, basic and diluted 18,277,893 18,461,455 20,894,202 * Eliminated on consolidation Schedule I – Condensed Financial Information of PYXIS TANKERS INC. (Parent Company Only) Statements of Stockholders’ Equity For the years ended December 31, 2016, 2017 and 2018 (Expressed in thousands of U.S. Dollars, except for share and per share data) Common Stock Additional Paid-in Accumulated Total Stockholders’ # of Shares Par value Capital Deficit Equity BALANCE, January 1, 2016 18,244,671 $ 18 $ 70,123 $ (15,575 ) $ 54,566 Issuance of common stock – EIP 33,222 — — — — Net loss — — — (5,813 ) (5,813 ) BALANCE, December 31, 2016 18,277,893 $ 18 $ 70,123 $ (21,388 ) $ 48,753 Issuance of common stock 2,400,000 3 4,288 — 4,291 Issuance of common stock – EIP 200,000 — — — - Stock compensation — — 355 — 355 Net loss — — — (5,243 ) (5,243 ) BALANCE, December 31, 2017 20,877,893 $ 21 $ 74,766 $ (26,631 ) 48,156 Net proceeds from the issuance of common stock 182,297 — 1 — 1 Net loss — — — (8,214 ) (8,214 ) BALANCE, December 31, 2018 21,060,190 $ 21 $ 74,767 $ (34,845 ) $ 39,943 Schedule I – Condensed Financial Information of PYXIS TANKERS INC. (Parent Company Only) Statements of Cash Flows For the years ended December 31, 2016, 2017 and 2018 (Expressed in thousands of U.S. Dollars) 2016 2017 2018 Cash flows from operating activities: Net loss $ (5,813 ) $ (5,243 ) $ (8,214 ) Adjustments to reconcile net loss to net cash from operating activities: Stock compensation — 355 — Equity in loss of subsidiaries, net of dividends received* 5,647 2,049 5,685 Changes in assets and liabilities: Due from related parties - (572 ) (206 ) Prepayments and other assets 2 (77 ) 13 Accounts payable (121 ) (34 ) 182 Due to related parties (4,087 ) 1,678 — Accrued and other liabilities (71 ) 22 (46 ) Net cash used in operating activities $ (4,443 ) $ (1,822 ) $ (2,586 ) Cash flows from investing activities: Net cash provided by investing activities $ — $ — $ — Cash flows from financing activities: Gross proceeds from issuance of common stock — 4,800 315 Common stock offering costs — (414 ) (407 ) Net cash provided by / (used in) financing activities $ — $ 4,386 $ (92 ) Net (decrease) / increase in cash and cash equivalents and restricted cash (4,443 ) 2,564 (2,678 ) Cash and cash equivalents and restricted cash at the beginning of the year 4,574 131 2,695 Cash and cash equivalents and restricted cash at the end of the year $ 131 $ 2,695 $ 17 * Eliminated in consolidation Schedule I – Condensed Financial Information of PYXIS TANKERS INC. (Parent Company Only) For years ended December 31, 2016, 2017 and 2018 (Expressed in thousands of U.S. Dollars, except for share and per share data) In the condensed financial information of Pyxis, Pyxis’ investment in subsidiaries is stated at cost plus equity in undistributed earnings / losses of subsidiaries. In May 2016, Pyxis received dividend distributions from Sixthone and Seventhone amounting to $2,250, in the aggregate, based on the respective vessel-owning companies’ financial position as of and for the year ended December 31, 2015. During the years ended December 31, 2017 and 2018, Pyxis did not receive any dividend distributions from its subsidiaries. The lender of Sixthone and Seventhone requires the ratio of the Company’s total liabilities to market value adjusted total assets not to exceed 65%. This requirement is only applicable in order to assess whether the two Vessel-owning companies are entitled to distribute dividends to Pyxis. As of December 31, 2017, the requirement was met as such ratio was marginally lower than 65%. As of December 31, 2018, the relevant ratio was 68%, or 3% higher than the required threshold. As discussed in Note 7, until the Company cures such non-compliance, neither Sixthone nor Seventhone will be permitted to make dividend distributions. Other than the above, there are no legal or regulatory restrictions on Pyxis’ ability to obtain funds from its subsidiaries through dividends, loans or advances. The condensed financial information of Pyxis, as parent company only, should be read in conjunction with the Company’s consolidated financial statements.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Changes in Accounting Policies	(a) Changes in accounting policies: Revenues, net: The following table presents the Company’s revenue disaggregated by revenue source, net of commissions, for the years ended December 31, 2016, 2017 and 2018: December 31, 2016 December 31, 2017 December 31, 2018 Voyage revenues derived from spot charters, net $ 9,295 $ 16,668 $ 16,990 Voyage revenues derived from time charters, net 21,092 12,911 11,467 Revenues, net $ 30,387 $ 29,579 $ 28,457 As of January 1, 2018, the Company adopted Accounting Standard Update (“ASU”) 2014-09 “ Revenue from Contracts with Customers (Topic 606) The Company elected to adopt ASC 606 by applying the modified retrospective transition method, recognizing the cumulative effect of adopting this guidance as an adjustment to the 2018 opening balance of accumulated deficit. As of December 31, 2017, there were no vessels employed under spot charters and as a result, the Company has not included any adjustments to the 2018 opening balance of accumulated deficit and prior periods were not retrospectively adjusted. The Company assessed its contracts with charterers for spot charters during the year ended December 31, 2018 and concluded that there is one single performance obligation for its spot charter, which is to provide the charterer with a transportation service within a specified time period. In addition, the Company has concluded that a spot charter meets the criteria to recognize revenue over time as the charterer simultaneously receives and consumes the benefits of the Company’s performance. The adoption of this standard resulted in a change whereby the Company’s method of revenue recognition changed from discharge-to-discharge (assuming a new charter has been agreed before the completion of the previous spot charter) to load-to-discharge. This resulted in no revenue being recognized from discharge of the prior spot charter to loading of the current spot charter and all revenue being recognized from loading of the current spot charter to discharge of the current spot charter. This change results in revenue being recognized later in the voyage, which may cause additional volatility in revenues and earnings between periods. Demurrage income represents payments by a charterer to a vessel owner when loading or discharging time exceeds the stipulated time in the spot charter. The Company has determined that demurrage represents a variable consideration and estimates demurrage at contract inception. Demurrage income estimated, net of address commission, is recognized over the time of the charter as the performance obligation is satisfied. Under a spot charter, the Company incurs and pays for certain voyage expenses, primarily consisting of brokerage commissions, port and canal costs and bunker consumption, during the spot charter (load-to-discharge) and during the ballast voyage (date of previous discharge to loading, assuming a new charter has been agreed before the completion of the previous spot charter). Before the adoption of ASC 606, all voyage expenses were expensed as incurred, except for brokerage commissions. Brokerage commissions are deferred and amortized over the related voyage period in a charter to the extent revenue has been deferred since commissions are earned as the Company’s revenues are earned. Under ASC 606 and after the implementation of ASC 340-40 “Other assets and deferred costs” In addition, pursuant to this standard and the new Leases standard (discussed below), as of January 1, 2018, the Company elected to present Revenues net of address commissions. Address commissions represent a discount provided directly to the charterers based on a fixed percentage of the agreed upon charter. Since address commissions represent a discount (sales incentive) on services rendered by the Company and no identifiable benefit is received in exchange for the consideration provided to the charterer, these commissions are presented as a reduction of revenue in the accompanying consolidated statements of comprehensive loss. In this respect, for the year ended December 31, 2016 and 2017, Revenues, net and Voyage related costs and commissions each decreased by $323 and $247, respectively. This reclassification has no impact on the Company’s consolidated financial position and results of operations for any of the periods presented. The Company does not disclose the value of unsatisfied performance obligations for contracts with an original expected length of one year or less, in accordance with the optional exception in ASC 606. Revenues for the years ended December 31, 2016, 2017 and 2018, deriving from significant charterers individually accounting for 10% or more of revenues (in percentages of total revenues), were as follows: Charterer 2016 2017 2018 A — 15 % — B 12 % — — C 20 % 16 % — D 14 % — — E 10 % — — F — 18 % — G — — 23 % H — — 15 % 56 % 49 % 38 % Leases: Leases (Topic 842) , which was amended and supplemented by ASU 2017-13, ASU 2018-01 and ASU 2018-11. The new lease standard does not substantially change lessor accounting Lessees and lessors will be required to apply the new standard at the beginning of the earliest period presented in the financial statements in which they first apply the new guidance, using a modified retrospective transition method. (i) provides entities with an additional (and optional) transition method to adopt the new leases standard, under which an entity initially applies the new leases standard at the adoption date and recognizes a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption consistent with preparers’ requests and (ii) provide lessors with a practical expedient, by class of underlying asset, to not separate non-lease components from the associated lease component and, instead, to account for those components as a single component if both of the following are met: (a) The timing and pattern of transfer of the non-lease component(s) and associated lease component are the same and (b) The lease component, if accounted for separately, would be classified as an operating lease. If the non-lease component or components associated with the lease component are the predominant component of the combined component, an entity is required to account for the combined component in accordance with ASC 606. Otherwise, the entity should account for the combined component as an operating lease in accordance with ASC 842. The Company elected to early adopt ASC 842 as of September 30, 2018 with adoption reflected as of January 1, 2018. The Company adopted the standard by using the modified retrospective method and selected the additional optional transition method. The Company also selected to apply all the practical expedients discussed above. In this respect no cumulative-effect adjustment was recognized . the lease component of the time charter contracts, if accounted for separately, would be classified as an operating lease, and Restricted Cash: Statement of Cash Flows (Topic 230): Restricted Cash The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the accompanying consolidated balance sheets that are presented in the accompanying consolidated statement of cash flows for the years ended December 31, 2016, 2017 and 2018. December 31, 2016 December 31, 2017 December 31, 2018 Cash and cash equivalents $ 783 $ 1,693 $ 545 Restricted cash, current portion 143 141 255 Restricted cash, net of current portion 4,857 4,859 3,404 Total cash and cash equivalents and restricted cash $ 5,783 $ 6,693 $ 4,204 Business combinations:
Principles of Consolidation	(b) Principles of Consolidation: Pyxis, as the holding company, determines whether it has a controlling financial interest in an entity by first evaluating whether the entity is a voting interest entity or a variable interest entity. Under Accounting Standards Codification (“ASC”) 810 “Consolidation” a voting interest entity is an entity in which the total equity investment at risk is sufficient to enable the entity to finance itself independently and provides the equity holders with the obligation to absorb losses, the right to receive residual returns and the right to make financial and operating decisions. Pyxis consolidates voting interest entities in which it owns all, or at least a majority (generally, greater than 50%), of the voting interest. Variable interest entities (“VIE”) are entities as defined under ASC 810-10, that in general either do not have equity investors with voting rights or that have equity investors that do not provide sufficient financial resources for the entity to support its activities. A controlling financial interest in a VIE is present when a company absorbs a majority of an entity’s expected losses, receives a majority of an entity’s expected residual returns, or both. The company with a controlling financial interest, known as the primary beneficiary, is required to consolidate the VIE. Pyxis evaluates all arrangements that may include a variable interest in an entity to determine if it may be the primary beneficiary, and would be required to include assets, liabilities and operations of a VIE in its consolidated financial statements. As of December 31, 2018, no such interest existed.
Use of Estimates	(c) Use of Estimates:
Comprehensive Income / (Loss)	(d) Comprehensive Income / (Loss):
Foreign Currency Translation	(e) Foreign Currency Translation:
Commitments and Contingencies	(f) Commitments and Contingencies:
Insurance Claims Receivable	(g) Insurance Claims Receivable:
Concentration of Credit Risk	(h) Concentration of Credit Risk:
Cash and Cash Equivalents and Restricted Cash	(i) Cash and Cash Equivalents and Restricted Cash:
Income Taxation	(j) Income Taxation: Under the laws of the Republic of Malta, the country of incorporation of the Vessel-owning companies, and/or the vessels’ registration, the Vessel-owning companies are not liable for any income tax on their income derived from shipping operations. The Republic of Malta is a country that has an income tax treaty with the United States. Accordingly, income earned by our subsidiaries organized under the laws of Malta may qualify for a treaty-based exemption. In fact Article 8 (Shipping and Air Transport) of that Treaty sets out the relevant rule to the effect that profits of an enterprise of a Contracting State from the operation of ships in international traffic shall be taxable only in that State.
Inventories	(k) Inventories:
Trade Accounts Receivable, Net	(l) Trade Accounts Receivable, Net:
Vessels, Net	(m) Vessels, Net: The cost of each of the Company’s vessels is depreciated from the date of acquisition on a straight-line basis over the vessels’ remaining estimated economic useful life, after considering the estimated residual value. A vessel’s residual value is equal to the product of its lightweight tonnage and estimated scrap rate of $0.300 per ton. The Company estimates the useful life of the Company’s vessels to be 25 years from the date of initial delivery from the shipyard. In the event that future regulations place limitations over the ability of a vessel to trade on a worldwide basis, its remaining useful life will be adjusted at the date such regulations are adopted.
Impairment of Long Lived Assets	(n) Impairment of Long Lived Assets: In developing estimates of future undiscounted cash flows, the Company makes assumptions and estimates about the vessels’ future performance, with the significant assumptions relating to time charter equivalent rates by vessel type, vessels’ operating expenses, vessels’ capital expenditures, vessels’ residual value, fleet utilization and the estimated remaining useful life of each vessel. The assumptions used to develop estimates of future undiscounted cash flows are based on historical trends as well as future expectations. To the extent impairment indicators are present, the projected net operating cash flows are determined by considering the charter revenues from existing time charters for the fixed days and an estimated daily time charter rate for the unfixed days (based on recent market estimates for the first year and the most recent seven year historical average rates, where available thereafter, over the remaining estimated useful life of the vessels), expected outflows for vessels’ operating expenses, planned dry-docking and special survey expenditures, management fees expenditures which are adjusted every year, pursuant to the Company’s existing group management agreement, and fleet utilization of 85.0% to 98.6% (depending on the type of the vessel) for the first year and 98.0% or 93.0%, including scheduled off-hire days for planned dry-dockings and vessel surveys, for the years thereafter, based on historical experience. The residual value used in the impairment test is estimated to be approximately $0.3 per lightweight ton in accordance with the vessels’ depreciation policy. As of December 31, 2016, the Company obtained market valuations for all its vessels from reputable marine appraisers. Based on these valuations, the Company identified impairment indications for all of its vessels, except for the Pyxis Epsilon Northsea Alpha Northsea Beta As of December 31, 2017, the Company obtained market valuations for all its vessels from reputable marine appraisers. Based on these valuations, the Company identified impairment indications for certain of its vessels. More specifically, the market values of these vessels were, in aggregate, $8,299 lower than their carrying values, including any unamortized deferred charges relating to special survey costs, as of that date. In this respect, the Company performed an impairment analysis to estimate the future undiscounted cash flows for each of these vessels. The analysis resulted in higher undiscounted cash flows than each vessel’s carrying value as of December 31, 2017 and, accordingly, no adjustment to the vessels’ carrying values was required. As of December 31, 2018, the Company obtained market valuations for all its vessels from reputable marine appraisers. Based on these valuations, the Company identified impairment indications for all of its vessels, except for the Pyxis Epsilon Northsea Alpha Northsea Beta,
Financial Derivative Instruments	(o) Financial Derivative Instruments: The Company discontinues cash flow hedge accounting if the hedging instrument expires and it no longer meets the criteria for hedge accounting or its designation is revoked by the Company. At that time, any cumulative gain or loss on the hedging instrument recognized in equity is kept in equity until the forecasted transaction occurs. When the forecasted transaction occurs, any cumulative gain or loss on the hedging instrument is recognized in consolidated statement of comprehensive loss. If a hedged transaction is no longer expected to occur, the net cumulative gain or loss recognized in equity is transferred to current period consolidated statement of comprehensive loss as financial income or expense.
Accounting for Special Survey and Dry-docking Costs	(p) Accounting for Special Survey and Dry-docking Costs:
Financing Costs	(q) Financing Costs:
Fair Value Measurements	(r) Fair Value Measurements:
Segment Reporting	(s) Segment Reporting:
Earnings / (Loss) per Share	(t) Earnings / (loss) per Share:
Stock Compensation	(u) Stock Compensation:
Going Concern	(v) Going Concern: As of December 31, 2018 the Company had a working capital deficit of $9,238, defined as current assets minus current liabilities. As of the filing date of the consolidated financial statements, the Company expects that it will be in a position to cover its liquidity needs for the next 12-month period through cash generated from operations and by managing its working capital requirements. In addition, the Company may consider the raising of capital including, debt, equity securities, joint ventures and / or sale of assets. Furthermore, the Company expects to be in compliance with the financial covenants under its existing debt agreements as discussed in Note 7 for the following 12-month period following the filing date if the consolidated financial statements.
New Accounting Pronouncements	(w) New Accounting Pronouncements: Financial Instruments: Fair Value Measurement: The guidance makes the following modifications for public entities: (i) entities are required to provide information about the measurement uncertainty of Level 3 fair value measurements as of the reporting date rather than a point in the future (the FASB also deleted the word “sensitivity,” which it said had caused confusion about whether the disclosure is intended to convey changes in unobservable inputs at a point in the future) and (ii) entities that use the practical expedient to measure the fair value of certain investments at their net asset values are required to disclose (1) the timing of liquidation of an investee’s assets and (2) the date when redemption restrictions will lapse, but only if the investee has communicated this information to the entity or announced it publicly. The amendments in this Update are effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019, although early adoption is permitted. The Company is in the process of assessing the impact of the provisions of this guidance on the Company’s consolidated financial position and performance.

Basis of Presentation and Gen_2

Basis of Presentation and General Information (Tables)	12 Months Ended
	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Ownership and Operation of Tanker Vessels	All of the Vessel-owning companies are engaged in the marine transportation of liquid cargoes through the ownership and operation of tanker vessels, as listed below: Vessel-owning company Incorporation date Vessel DWT Year built Acquisition date Secondone 05/23/2007 Northsea Alpha 8,615 2010 05/28/2010 Thirdone 05/23/2007 Northsea Beta 8,647 2010 05/25/2010 Fourthone 05/30/2007 Pyxis Malou 50,667 2009 02/16/2009 Sixthone 01/15/2010 Pyxis Delta 46,616 2006 03/04/2010 Seventhone 05/31/2011 Pyxis Theta 51,795 2013 09/16/2013 Eighthone 02/08/2013 Pyxis Epsilon 50,295 2015 01/14/2015

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Schedule of Revenue Disaggregated by Revenue Source	The following table presents the Company’s revenue disaggregated by revenue source, net of commissions, for the years ended December 31, 2016, 2017 and 2018: December 31, 2016 December 31, 2017 December 31, 2018 Voyage revenues derived from spot charters, net $ 9,295 $ 16,668 $ 16,990 Voyage revenues derived from time charters, net 21,092 12,911 11,467 Revenues, net $ 30,387 $ 29,579 $ 28,457
Summary of Revenue from Significant Charterers for 10% or More of Revenue	Revenues for the years ended December 31, 2016, 2017 and 2018, deriving from significant charterers individually accounting for 10% or more of revenues (in percentages of total revenues), were as follows: Charterer 2016 2017 2018 A — 15 % — B 12 % — — C 20 % 16 % — D 14 % — — E 10 % — — F — 18 % — G — — 23 % H — — 15 % 56 % 49 % 38 %
Schedule of Reconciliation of Cash and Cash Equivalents and Restricted Cash	The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the accompanying consolidated balance sheets that are presented in the accompanying consolidated statement of cash flows for the years ended December 31, 2016, 2017 and 2018. December 31, 2016 December 31, 2017 December 31, 2018 Cash and cash equivalents $ 783 $ 1,693 $ 545 Restricted cash, current portion 143 141 255 Restricted cash, net of current portion 4,857 4,859 3,404 Total cash and cash equivalents and restricted cash $ 5,783 $ 6,693 $ 4,204

Transactions with Related Par_2

Transactions with Related Parties (Tables)	12 Months Ended
	Dec. 31, 2018
Related Party Transactions [Abstract]
Schedule of Amounts Charged by Maritime Included in the Accompanying Consolidated Statements of Comprehensive Loss	The following amounts were charged by Maritime pursuant to the head management and ship-management agreements with the Company, and are included in the accompanying consolidated statements of comprehensive loss: Year Ended December 31, 2016 2017 2018 Included in Voyage related costs and commissions Charter hire commissions $ 316 $ 368 $ 354 Included in Management fees, related parties Ship-management Fees 631 712 720 Included in General and administrative expenses Administration Fees 1,600 1,600 1,618 Total $ 2,547 $ 2,680 $ 2,692

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Dec. 31, 2018
Inventory Disclosure [Abstract]
Schedule of Inventories	The amounts in the accompanying consolidated balance sheets are analyzed as follows: December 31, 2017 December 31, 2018 Lubricants $ 404 $ 428 Bunkers 612 379 Total $ 1,016 $ 807

Vessels, Net (Tables)

Vessels, Net (Tables)	12 Months Ended
	Dec. 31, 2018
Property, Plant and Equipment [Abstract]
Schedule of Vessels	The amounts in the accompanying consolidated balance sheets are analyzed as follows: Vessel Accumulated Net Book Cost Depreciation Value Balance January 1, 2016 $ 147,789 $ (17,288 ) $ 130,501 Depreciation — (5,768 ) (5,768 ) Vessel impairment charge (9,729 ) 6,337 (3,392 ) Balance December 31, 2016 138,060 (16,719 ) 121,341 Depreciation — (5,567 ) (5,567 ) Balance December 31, 2017 138,060 (22,286 ) 115,774 Depreciation — (5,500 ) (5,500 ) Vessel impairment charge (3,750 ) 1,468 (2,282 ) Balance December 31, 2018 $ 134,310 $ (26,318 ) $ 107,992

Deferred Charges, Net (Tables)

Deferred Charges, Net (Tables)	12 Months Ended
	Dec. 31, 2018
Deferred Charges Net
Schedule of Deferred Charges	The movement in the deferred charges, net in the accompanying consolidated balance sheets are as follows: Dry docking costs Balance, January 1, 2016 $ 836 Additions 364 Amortization (236 ) Impairment charge (606 ) Balance, December 31, 2016 358 Amortization (73 ) Balance, December 31, 2017 285 Additions 588 Amortization (133 ) Balance, December 31, 2018 $ 740

Long-term Debt (Tables)

Long-term Debt (Tables)	12 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	The amounts shown in the accompanying consolidated balance sheets at December 31, 2017 and 2018, are analyzed as follows: Vessel (Borrower) December 31, 2017 December 31, 2018 (a) Northsea Alpha (Secondone) $ 4,348 $ 4,055 (a) Northsea Beta (Thirdone) 4,348 4,055 (b) Pyxis Malou (Fourthone) 18,210 11,190 (c) Pyxis Delta (Sixthone) 7,087 5,400 (c) Pyxis Theta (Seventhone) 15,975 14,722 (d) Pyxis Epsilon (Eighthone) 16,900 24,000 Total $ 66,868 $ 63,422 Current portion $ 7,440 $ 4,503 Less: Current portion of deferred financing costs (136 ) (170 ) Current portion of long-term debt, net of deferred financing costs, current $ 7,304 $ 4,333 Long-term portion $ 59,428 $ 58,919 Less: Non-current portion of deferred financing costs (302 ) (790 ) Long-term debt, net of current portion and deferred financing costs, non-current $ 59,126 $ 58,129 (a) On September 26, 2007, Secondone and Thirdone jointly entered into a loan agreement with a financial institution for an amount of up to $24,560, in order to partly finance the acquisition cost of the vessels Northsea Alpha Northsea Beta (b) Based on a loan agreement concluded on December 12, 2008, Fourthone borrowed $41,600 in February 2009 in order to partly finance the acquisition cost of the Pyxis Malou
Schedule of Principal Payments	Assuming no principal repayments under the new loan of Eighthone discussed above, the annual principal payments required to be made after December 31, 2018, are as follows: To December 31, Amount 2019 $ 4,503 2020 4,693 2021 4,813 2022 14,643 2023 34,770 2024 and thereafter - Total $ 63,422 Total interest expense on long-term debt for the years ended December 31, 2016, 2017 and 2018, amounted to $2,577, $2,674 and $3,835, respectively, and is included in Interest and finance costs, net (Note 12) in the accompanying consolidated statements of comprehensive loss. The Company’s weighted average interest rate (including the margin) for the years ended December 31, 2016, 2017 and 2018, was 3.27%, 3.74% and 6.00% per annum, including the promissory note discussed in Note 3, respectively.

Loss Per Common Share (Tables)

Loss Per Common Share (Tables)	12 Months Ended
	Dec. 31, 2018
Earnings Per Share [Abstract]
Schedule of Loss Per Common Share	For the years ended December 31, 2016 2017 2018 Net loss available to common stockholders $ (5,813 ) $ (5,243 ) $ (8,214 ) Weighted average number of common shares, basic and diluted 18,277,893 18,461,455 20,894,202 Loss per common share, basic and diluted $ (0.32 ) $ (0.28 ) $ (0.39 )

Risk Management and Fair Valu_2

Risk Management and Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2018
Risk Management And Fair Value Measurements
Schedule of Fair Value of Assets and Liabilities	The Management has determined that the fair values of the assets and liabilities as of December 31, 2018 are as follows: Carrying Value Fair Value Cash and cash equivalents $ 4,204 $ 4,204 Trade accounts receivable, net $ 2,585 $ 2,585 Trade accounts payable $ 4,746 $ 4,746 Long-term debt with variable interest rates, net $ 39,422 $ 39,422 Long-term loans and promissory note with non-variable interest rates, net $ 29,000 $ 29,000
Schedule of Financial Derivative Instrument Location	Information on the classification, the derivative fair value and the loss from financial derivative instrument included in the consolidated financial statements is shown below: Consolidated Balance Sheets – Location December 31, 2017 December 31, 2018 Financial derivative instrument – Other non-current assets $ - $ 28
Schedule of Gains Losses on Derivative Instruments	Consolidated Statements of Comprehensive Loss - Location December 31, 2017 December 31, 2018 Financial derivative instrument – Initial cost $ - $ (47 ) Financial derivative instrument – Fair value as at period end - 28 Loss from financial derivative instrument $ - $ (19 )
Schedule of Assets Measured at Fair Value on a Non-recurring Basis Long Lived Assets Held and Used	As of December 31, 2016, the Company reviewed the carrying amount in connection with the estimated recoverable amount for each of its vessels. This review indicated that such carrying amount was not fully recoverable for the Company’s vessels Northsea Alpha Northsea Beta Vessel Significant Other Observable Inputs (Level 2) Impairment Loss charged against Impairment Loss charged against Vessel Impairment Charge Northsea Alpha $ 8,000 $ 1,770 $ 292 $ 2,062 Northsea Beta 8,000 1,622 314 1,936 TOTAL $ 16,000 $ 3,392 $ 606 $ 3,998 As of December 31, 2018, the Company reviewed the carrying amount in connection with the estimated recoverable amount for each of its vessels. This review indicated that such carrying amount was not fully recoverable for the Company’s vessels Northsea Alpha Northsea Beta Vessel Significant Other Observable Inputs (Level 2) Vessel Impairment Charge (charged against Vessels, net) Northsea Alpha $ 6,125 $ 1,142 Northsea Beta 6,125 1,140 TOTAL $ 12,250 $ 2,282

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Contractual Charter Revenues	Year ending December 31, Amount 2019 $ 2,813 $ 2,813

Interest and Finance Costs, N_2

Interest and Finance Costs, Net (Tables)	12 Months Ended
	Dec. 31, 2018
Interest And Finance Costs Net
Schedule of Interest and Finance Costs	The amounts in the accompanying consolidated statements of comprehensive loss are analyzed as follows: For the years ended December 31, 2016 2017 2018 Interest on long-term debt (Note 7) $ 2,577 $ 2,674 $ 3,835 Interest on promissory note (Note 3) 69 70 213 Long-term debt prepayment fees — — 56 Amortization and write-off of financing costs 164 153 386 Total $ 2,810 $ 2,897 $ 4,490

Basis of Presentation and Gen_3

Basis of Presentation and General Information (Details Narrative) $ in Thousands	Apr. 23, 2015USD ($)	Dec. 31, 2018Integer
Entity ownership interest		100.00%
Number of ownership interest entities | Integer		6
LOOKSMART LTD [Member]
Expenses of merger | $	$ 600
Mr. Valentis [Member]
Percentage of beneficially owned common stock		80.90%

Basis of Presentation and Gen_4

Basis of Presentation and General Information - Schedule of Ownership and Operation of Tanker Vessels (Details) - Vessels [Member]	12 Months Ended
	Dec. 31, 2018Integer
Secondone Corporation Ltd [Member]
Property, Plant and Equipment [Line Items]
Entity incorporation date of incorporation	May 23, 2007
Vessel	Northsea Alpha
DWT	8,615
Year built	2010
Acquisition date	May 28, 2010
Thirdone Corporation Ltd [Member]
Property, Plant and Equipment [Line Items]
Entity incorporation date of incorporation	May 23, 2007
Vessel	Northsea Beta
DWT	8,647
Year built	2010
Acquisition date	May 25, 2010
Fourthone Corporation Ltd [Member]
Property, Plant and Equipment [Line Items]
Entity incorporation date of incorporation	May 30, 2007
Vessel	Pyxis Malou
DWT	50,667
Year built	2009
Acquisition date	Feb. 16, 2009
Sixthone Corp [Member]
Property, Plant and Equipment [Line Items]
Entity incorporation date of incorporation	Jan. 15, 2010
Vessel	Pyxis Delta
DWT	46,616
Year built	2006
Acquisition date	Mar. 4, 2010
Seventhone Corp [Member]
Property, Plant and Equipment [Line Items]
Entity incorporation date of incorporation	May 31, 2011
Vessel	Pyxis Theta
DWT	51,795
Year built	2013
Acquisition date	Sep. 16, 2013
Eighthone Corp. [Member]
Property, Plant and Equipment [Line Items]
Entity incorporation date of incorporation	Feb. 8, 2013
Vessel	Pyxis Epsilon
DWT	50,295
Year built	2015
Acquisition date	Jan. 14, 2015

Significant Accounting Polici_4

Significant Accounting Policies (Details Narrative) $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)Segments$ / t	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Revenues, net decreased value		$ 247	$ 323
Voyage related costs and commissions decreased, value		247	323
Restricted cash	$ 3,659	5,000	5,000
Trade accounts receivable, net	$ 2,585	703
Residual value per lightweight ton | $ / t	0.300
Estimated useful life	25 years
First year estimated fleet utilization rate depending on the type of the vessel I Minimum rate	85.00%
First year estimated fleet utilization rate depending on the type of the vessel I Maximum rate	98.60%
Years thereafter estimated fleet utilization rate	98.00%
Years thereafter estimated fleet utilization rate I including scheduled off-hire days for planned dry dockings and vessel surveys	93.00%
Aggregate difference between market value and carrying value of vessel	$ 9,987	8,299	15,751
Vessel impairment charge	$ 2,282		3,998
Impairment loss charged against deferred charges, net			606
Impairment loss charged against vessels, net			$ 3,392
Number of reportable segments | Segments	1
Working capital deficit	$ 9,238
Spot Charters [Member]
Trade accounts receivable, net	2,581	689
Allowance for doubtful accounts		96
Time Charters [Member]
Trade accounts receivable, net	$ 4	$ 14

Significant Accounting Polici_5

Significant Accounting Policies - Schedule of Revenue Disaggregated by Revenue Source (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenues, net	$ 28,457	$ 29,579	$ 30,387
Voyage Revenues Derived from Spot Charters, Net [Member]
Revenues, net	16,990	16,668	9,295
Voyage Revenues Derived from Time Charters, Net [Member]
Revenues, net	$ 11,467	$ 12,911	$ 21,092

Significant Accounting Polici_6

Significant Accounting Policies - Summary of Revenue from Significant Charterers for 10% or More of Revenue (Details)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Concentration risk percentage	38.00%	49.00%	56.00%
Charterer A [Member]
Concentration risk percentage	0.00%	15.00%	0.00%
Charterer B [Member]
Concentration risk percentage	0.00%	0.00%	12.00%
Charterer C [Member]
Concentration risk percentage	0.00%	16.00%	20.00%
Charterer D [Member]
Concentration risk percentage	0.00%	0.00%	14.00%
Charterer E [Member]
Concentration risk percentage	0.00%	0.00%	10.00%
Charterer F [Member]
Concentration risk percentage	0.00%	18.00%	0.00%
Charterer G [Member]
Concentration risk percentage	23.00%	0.00%	0.00%
Charterer H [Member]
Concentration risk percentage	15.00%	0.00%	0.00%

Significant Accounting Polici_7

Significant Accounting Policies - Schedule of Reconciliation of Cash and Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Accounting Policies [Abstract]
Cash and cash equivalents	$ 545	$ 1,693	$ 783
Restricted cash, current portion	255	141	143
Restricted cash, net of current portion	3,404	4,859	4,857
Total cash and cash equivalents and restricted cash	$ 4,204	$ 6,693	$ 5,783	$ 8,622

Transactions with Related Par_3

Transactions with Related Parties (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands	Jun. 29, 2018	Dec. 29, 2017	Mar. 07, 2017	Oct. 28, 2015	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Promissory note outstanding balance					$ 5,000	$ 5,000
Due to related parties					3,402	2,125
Decrease in due to related parties					1,277	2,672	$ 1,832
Maritime Investors Promissory Note [Member]
Promissory note outstanding balance					5,000	5,000
Promissory note issued				$ 2,500
Expenses for Merger				$ 600
Promissory note maturity date	Mar. 31, 2020	Jun. 15, 2019	Jan. 15, 2019	Jan. 15, 2017
Promissory note, interest rate	4.50%	4.00%		2.75%
Increase in promissory note outstanding balance		The outstanding principal balance increased from $2.5 million to $5.0 million
Interest expense on promissory note					$ 213	70	69
Decrease in due to related parties		$ 2,500
Pyxis Maritime Corporation [Member]
Ship management services per day per vessel					$ 0.325
Charter hire agreement commission rate					1.25%
Management agreements initial term					5 years
Management agreements renewal period					5 years
Head management agreement commencement date					Mar. 23, 2015
Head management agreement maturity date					Mar. 23, 2020
Administration fees payable to related party					$ 1,618	1,600	$ 1,600
Head management agreement, terms and manner of settlement					In the event of a change of control of the Company during the management period or within 12 months after the early termination of the Head Management Agreement, then the Company will pay to Maritime an amount equal to 2.5 times the then annual Administration Fees.
Ship-management and administration fees percentage increase					Effective January 1, 2018 and 2019, the Ship-management Fees and the Administration Fees were increased by 1.12% and 0.62%, respectively in line with the average inflation rate in Greece in 2017 and 2018, respectively.
Pyxis Maritime Corporation [Member] | Vessel Northsea Alpha [Member]
Management agreement expiration date					Dec. 31, 2015
Pyxis Maritime Corporation [Member] | Vessel Northsea Beta [Member]
Management agreement expiration date					Dec. 31, 2015
Pyxis Maritime Corporation [Member] | Pyxis Delta Vessel [Member]
Management agreement expiration date					Dec. 31, 2015
Pyxis Maritime Corporation [Member] | Pyxis Theta Vessel [Member]
Management agreement expiration date					Dec. 31, 2017
Pyxis Maritime Corporation [Member] | Pyxis Epsilon Vessel [Member]
Management agreement expiration date					Dec. 31, 2018
Pyxis Maritime Corporation [Member] | Pyxis Malou Vessel [Member]
Management agreement expiration date					Dec. 31, 2018
Pyxis Maritime Corporation [Member] | While Chartering Services are Subcontracted to North Sea Tankers [Member]
Ship management services per day per vessel					$ 0.160
Pyxis Maritime Corporation [Member] | While Vessel is Under Construction [Member]
Ship management services per day per vessel					$ 0.450
Pyxis Maritime Corporation [Member]
Due to related parties					$ 3,402	$ 2,125

Transactions with Related Par_4

Transactions with Related Parties - Schedule of Amounts Charged by Maritime Included in the Accompanying Consolidated Statements of Comprehensive Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Related Party Transaction [Line Items]
Ship-management fees	$ (720)	$ (712)	$ (631)
Pyxis Maritime Corporation [Member]
Related Party Transaction [Line Items]
Charter hire commissions	354	368	316
Ship-management fees	720	712	631
Administration fees	1,618	1,600	1,600
Related party transaction expenses, total	$ 2,692	$ 2,680	$ 2,547

Inventories - Schedule of Inven

Inventories - Schedule of Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Inventory [Line Items]
Inventories	$ 807	$ 1,016
Lubricants [Member]
Inventory [Line Items]
Inventories	428	404
Bunkers [Member]
Inventory [Line Items]
Inventories	$ 379	$ 612

Vessels, Net (Details Narrative

Vessels, Net (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Vessel impairment charge	$ 2,282		$ 3,998
Impairment loss charged against vessels, net			3,392
Impairment loss charged against deferred charges, net			606
Level 2 [Member]
Vessel impairment charge	2,282		3,998
Vessels [Member]
Impairment loss charged against vessels, net	$ 2,282		$ 3,392

Vessels, Net - Schedule of Vess

Vessels, Net - Schedule of Vessels (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Property, Plant and Equipment [Line Items]
Beginning balance	$ 115,774
Depreciation	(5,500)	$ (5,567)	$ (5,768)
Vessel impairment charge	2,282		3,998
Ending balance	107,992	115,774
Vessel Cost [Member]
Property, Plant and Equipment [Line Items]
Beginning balance	138,060	138,060	147,789
Depreciation
Vessel impairment charge	(3,750)		(9,729)
Ending balance	134,310	138,060	138,060
Accumulated Depreciation [Member]
Property, Plant and Equipment [Line Items]
Beginning balance	(22,286)	(16,719)	(17,288)
Depreciation	(5,500)	(5,567)	(5,768)
Vessel impairment charge	1,468		6,337
Ending balance	(26,318)	(22,286)	(16,719)
Net Book Value [Member]
Property, Plant and Equipment [Line Items]
Beginning balance	115,774	121,341	130,501
Depreciation	(5,500)	(5,567)	(5,768)
Vessel impairment charge	(2,282)		(3,392)
Ending balance	$ 107,992	$ 115,774	$ 121,341

Deferred Charges, Net (Details

Deferred Charges, Net (Details Narrative) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)
Impairment loss charged against deferred charges, net	$ 606

Deferred Charges, Net - Schedul

Deferred Charges, Net - Schedule of Deferred Charges (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Deferred Charges Net
Deferred charges, beginning balance	$ 285	$ 358	$ 836
Additions	588		364
Amortization	(133)	(73)	(236)
Impairment charge			(606)
Deferred charges, ending balance	$ 740	$ 285	$ 358

Long-Term Debt - Schedule of Lo

Long-Term Debt - Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Total	$ 63,422	$ 66,868
Current portion	4,503	7,440
Less: Current portion of deferred financing costs	(170)	(136)
Current portion of long-term debt, net of deferred financing costs, current	4,333	7,304
Long-term portion	58,919	59,428
Less: Non-current portion of deferred financing costs	(790)	(302)
Long-term debt, net of current portion and deferred financing costs, non-current	58,129	59,126
Vessel Northsea Alpha [Member] | Secondone [Member]
Debt Instrument [Line Items]
Total	4,055	4,348
Vessel Northsea Beta [Member] | Thirdone [Member]
Debt Instrument [Line Items]
Total	4,055	4,348
Pyxis Malou Vessel [Member] | Fourthone [Member]
Debt Instrument [Line Items]
Total	11,190	18,210
Pyxis Delta Vessel [Member] | Sixthone [Member]
Debt Instrument [Line Items]
Total	5,400	7,087
Pyxis Theta Vessel [Member] | Seventhone [Member]
Debt Instrument [Line Items]
Total	14,722	15,975
Pyxis Epsilon Vessel [Member] | Eighthone [Member]
Debt Instrument [Line Items]
Total	$ 24,000	$ 16,900

Long-Term Debt - Schedule of _2

Long-Term Debt - Schedule of Long-Term Debt (Details) (Parenthetical) - USD ($) $ in Thousands

Sep. 27, 2018

Feb. 28, 2018

Jun. 06, 2017

Oct. 12, 2012

Dec. 31, 2018

Dec. 31, 2017

Dec. 31, 2016

Jan. 12, 2015

Sep. 30, 2013

Feb. 28, 2013

Feb. 28, 2009

Sep. 26, 2007

Maximum borrowing capacity

$ 24,560

Amount borrowed

$ 41,600

Total long-term debt outstanding

$ 63,422

$ 66,868

Gain from debt extinguishment

4,306

Interest expense on long-term debt

$ 3,835

$ 2,674

$ 2,577

Long-term debt, weighted average interest rate

6.00%

3.74%

3.27%

Previous Secured Loan - Secondone, Thirdone and Fourthone [Member]

Total long-term debt outstanding

$ 26,906

Cash used for refinance of existing Indebtedness

2,100

Gain from debt extinguishment

4,306

New Secured Loan - Secondone, Thirdone and Fourthone [Member]

Total long-term debt outstanding

$ 20,500

Secured loan term

5 years

Interest rate margin

4.65%

Minimum security collateral cover required | Until February 2020

140.00%

Minimum security collateral cover required | Until February 2022

150.00%

Minimum security collateral cover required | Thereafter 155%

155.00%

New Secured Loan - Secondone and Thirdone [Member]

Total long-term debt outstanding per facility

$ 4,055

Loan amortization profile

Each of Secondone's and Thirdone's outstanding loan balance at December 31, 2018, amounting to $4,055, is repayable in 17 remaining quarterly installments amounting to $1,665 in the aggregate, the first falling due in February 2019, and the last installment accompanied by a balloon payment of $2,390 falling due in February 2023. The first installment, amounting to $65 each, is followed by 16 amounting to $100 each.

Long-term debt first periodic payment

2019-02

Long-term debt balloon payment year

2023-02

Quarterly installments payable in the aggregate

$ 1,665

Long-term debt balloon payments in the aggregate

2,390

Amount of account maintenance per facility, per quarter

$ 30

New Secured Loan - Fourthone [Member]

Loan amortization profile

The outstanding balance of Fourthone loan of $11,190 is repayable in 17 remaining quarterly installments amounting to $5,790, the first falling due in February 2019, and the last installment accompanied by a balloon payment of $5,400 falling due in February 2023. The first installment, amounting to $270, is followed by four amounting to $300 each, four amounting to $330 each, four amounting to $360 each and four amounting to $390 each.

Long-term debt first periodic payment

2019-02

Long-term debt balloon payment year

2023-02

Quarterly installments payable (17 installments)

$ 5,790

Amount of account maintenance, per quarter

85

New Secured Loan - Secondone, Thirdone and Fourthone [Member]

Minimum cash deposits

1,450

Amount of account maintenance, per quarter

145

Previous Secured Loan - Eighthone Corp [Member]

Amount borrowed

$ 21,000

Total long-term debt outstanding

$ 16,000

$ 16,900

New Secured Loan - Eighthone Corp [Member]

Total long-term debt outstanding

$ 24,000

Minimum cash deposits

$ 750

Long term debt maturity, description

September 2023

Quarterly installments payable (18 installments)

Equal to the lower of $400 and excess cash computed through a cash sweep mechanism, plus a balloon payment due at maturity

Dry docking and special survey reserve description

Dry Docking and Special Survey Reserve of $0.25 per day accumulated quarterly.

Deferred fee

If payable, the amount due is calculated as the lesser of (a) 15% of the amount of the loan borrowed under the facility agreement and (b) 15% of the difference between (i) the charter-free fair market value of the vessel plus any dry dock reserve account balance and (ii) any outstanding loan amount at the time of the repayment or maturity of the facility.

New Secured Loan - Eighthone Corp [Member] | First Two Year [Member]

Interest rate margin

11.0% of which 1% can be paid as PIK

New Secured Loan - Eighthone Corp [Member] | Thereafter [Member]

Interest rate margin

11.00%

Minimum security collateral cover required

125.00%

New Secured Loan - Eighthone Corp [Member] | Until September 2020 [Member]

Minimum security collateral cover required

115.00%

Pyxis Malou Vessel [Member] | New Secured Loan - Fourthone [Member]

Total long-term debt outstanding

$ 11,190

Long-term debt balloon payments

5,400

Sixthone Corp [Member] | Pyxis Delta Vessel [Member] | Loan Agreement Dated October 12, 2012 [Member]

Amount borrowed

$ 13,500

Total long-term debt outstanding

$ 5,400

Loan repayment terms

quarterly

Loan amortization profile

The outstanding balance of the loan under Tranche A at December 31, 2018, of $5,400, is repayable in 15 quarterly installments of $338 each, the first falling due in March 2019, and the last installment accompanied by a balloon payment of $330 falling due in September 2022.

Long-term debt first periodic payment

2019-03

Long-term debt balloon payment year

2022-09

Quarterly installments payable (15 installments)

$ 338

Long-term debt balloon payments

330

Long term debt maturity, description

loans from September 2018 to September 2022

Seventhone Corp [Member] | Pyxis Theta Vessel [Member] | Loan Agreement Dated October 12, 2012 [Member]

Amount borrowed

$ 21,300

Total long-term debt outstanding

$ 14,722

Loan repayment terms

quarterly

Loan amortization profile

In addition, the outstanding balance of the loan under Tranche B at December 31, 2018, of $14,722, is repayable in 15 quarterly installments of $313 each, the first falling due in March 2019, and the last installment accompanied by a balloon payment of $10,027 falling due in September 2022.

Long-term debt first periodic payment

2019-03

Long-term debt balloon payment year

2022-09

Quarterly installments payable (15 installments)

$ 313

Long-term debt balloon payments

10,027

Long term debt maturity, description

loans from September 2018 to September 2022

Sixthone and Seventhone [Member] | Loan Agreement [Member]

Interest rate margin

3.35%

Minimum cash deposits

$ 1,000

Maximum required leverage ratio

65.00%

Actual leverage ratio

68.00%

65.00%

Difference between actual ratio and required threshold

3.00%

Minimum security collateral cover required

130.00%

Long-Term Debt - Schedule of Pr

Long-Term Debt - Schedule of Principal Payments (Details) $ in Thousands	Dec. 31, 2018USD ($)
Debt Instruments [Abstract]
2019	$ 4,503
2020	4,693
2021	4,813
2022	14,643
2023	34,770
2024 and thereafter
Total	$ 63,422

Equity Capital Structure and _2

Equity Capital Structure and Equity Incentive Plan (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands	Feb. 02, 2018	Dec. 06, 2017	Nov. 15, 2017	Oct. 28, 2015	Dec. 31, 2018	Dec. 31, 2017
Common stock, shares authorized					450,000,000	450,000,000
Preferred stock, shares authorized					50,000,000	50,000,000
Common stock, par value					$ 0.001	$ 0.001
Preferred stock, par value					$ 0.001	$ 0.001
Common stock, shares outstanding					21,060,190	20,877,893
F-3 Registration Statement [Member]
Maximum offering amount under registration statement	$ 100,000
Maximum number of shares for sale under registration statement	5,233,222
ATM Program [Member]
Number of common stock issued under ATM					182,297
Private Placement [Member]
Shares of common stock issued		2,400,000
Price per share of common stock		$ 2
Gross proceeds from issuance of common stock		$ 4,800
Capitalized costs relating to offering expenses		$ 509
Equity Incentive Plan [Member]
Percentage of outstanding stock				15.00%
Restricted shares of common stock approved				33,222
Restricted shares of common stock issued			200,000
Stock compensation expense			$ 355

Loss Per Common Share - Schedul

Loss Per Common Share - Schedule of Loss Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Earnings Per Share [Abstract]
Net loss available to common stockholders	$ (8,214)	$ (5,243)	$ (5,813)
Weighted average number of common shares, basic and diluted	20,894,202	18,461,455	18,277,893
Loss per common share, basic and diluted	$ (0.39)	$ (0.28)	$ (0.32)

Risk Management and Fair Valu_3

Risk Management and Fair Value Measurements (Details Narrative) - USD ($) $ in Thousands	Jan. 19, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Vessel Impairment Charge		$ 2,282		$ 3,998
Interest Rate Cap [Member]
Notional amount	$ 10,000
Interest rate cap percentage	3.50%
Interest rate cap termination date	Jul. 18, 2022

Risk Management and Fair Valu_4

Risk Management and Fair Value Measurements - Schedule of Fair Value of Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Trade accounts receivable, net	$ 2,585	$ 703
Trade accounts payable	4,746	$ 2,293
Carrying Value [Member]
Cash and cash equivalents	4,204
Trade accounts receivable, net	2,585
Trade accounts payable	4,746
Long-term debt with variable interest rates, net	39,422
Long-term loans and promissory note with non-variable interest rates, net	29,000
Fair Value [Member]
Cash and cash equivalents	4,204
Trade accounts receivable, net	2,585
Trade accounts payable	4,746
Long-term debt with variable interest rates, net	39,422
Long-term loans and promissory note with non-variable interest rates, net	$ 29,000

Risk Management and Fair Valu_5

Risk Management and Fair Value Measurements - Schedule of Financial Derivative Instrument Location (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Risk Management And Fair Value Measurements
Financial derivative instrument - Other non-current assets	$ 28

Risk Management and Fair Valu_6

Risk Management and Fair Value Measurements - Schedule of Gains Losses on Derivative Instruments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Risk Management And Fair Value Measurements
Financial derivative instrument - Initial cost	$ (47)
Financial derivative instrument - Fair value as at period end	28
Loss from financial derivative instrument	$ (19)

Risk Management and Fair Valu_7

Risk Management and Fair Value Measurements - Schedule of Assets Measured at Fair Value on a Non-recurring Basis Long Lived Assets Held and Used (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment Loss charged against Vessels, net			$ 3,392
Impairment Loss charged against Deferred charges, net			606
Vessel Impairment Charge	$ 2,282		3,998
Significant Other Observable Inputs (Level 2) Northsea Alpha [Member]
Impaired Long-Lived Assets Held and Used [Line Items]
Fair value of vessel	6,125		8,000
Impairment Loss charged against Vessels, net	1,142		1,770
Impairment Loss charged against Deferred charges, net			292
Vessel Impairment Charge	1,142		2,062
Significant Other Observable Inputs (Level 2) Northsea Beta [Member]
Impaired Long-Lived Assets Held and Used [Line Items]
Fair value of vessel	6,125		8,000
Impairment Loss charged against Vessels, net	1,140		1,622
Impairment Loss charged against Deferred charges, net			314
Vessel Impairment Charge	1,140		1,936
Significant Other Observable Inputs (Level 2) Northsea Alpha and Northsea Beta [Member]
Impaired Long-Lived Assets Held and Used [Line Items]
Fair value of vessel	12,250		16,000
Impairment Loss charged against Vessels, net	2,282		3,392
Impairment Loss charged against Deferred charges, net			606
Vessel Impairment Charge	$ 2,282		$ 3,998

Commitments and Contingencies_2

Commitments and Contingencies (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Apr. 29, 2015
Merger Agreement [Member]
Make-Whole and Put Right	The Make-Whole Right is defined in Section 4.12(a) of the Agreement and Plan of Merger, dated as of April 23, 2015 and as thereafter amended between the Company, Merger Sub, LS and LookSmart Group, Inc. (the "Merger Agreement" and the transactions contemplated therein, the "Merger"). Pursuant to the Make-Whole Right, if Pyxis conducts an offering of its common stock or a sale of Pyxis and/or substantially all of its assets (either, a "Future Pyxis Offering") at a price per share (the "New Offering Price") that is less than $4.30 following the Merger, then a LS stockholder of record on April 29, 2015, who on the date of the consummation of a Future Pyxis Offering continues to hold Pyxis common shares that the LS stockholder received in connection with the Merger (the "MWR Holder"), is entitled to receive in Pyxis common shares the difference between the New Offering Price and $4.30 (i.e., the Make-Whole Right) per Pyxis common share still held by such MWR Holder. Under Section 4.12(d) of the Merger Agreement, the Make-Whole Right applies only to the first Future Pyxis Offering following the closing of the Merger, provided that such Future Pyxis Offering results in gross proceeds to Pyxis of at least $5 million (excluding the proceeds from any shares purchased by certain affiliates). In December 2017, Pyxis completed a common stock offering (the "Offering"), which resulted in gross proceeds of $4.8 million. The Offering qualified as Future Pyxis Offering and thus, the Make-Whole Right is no longer available. The Put Right is defined in Section 4.12(c) of the Merger Agreement. Pursuant to the Put Right, if a Future Pyxis Offering has not occurred within three (3) years of the closing date of the Merger (i.e., by October 28, 2018), each MWR Holder may, at its option following written notice to Pyxis, require that Pyxis purchase a pro rata amount of Pyxis common stock from such MWR Holder (based on the total amount of shares of Pyxis common stock held by all MWR Holders) that will result in, among other things, an amount of gross proceeds not to exceed an aggregate of $2 million (i.e., the Put Right). As discussed above, in December 2017 Pyxis completed the Offering, which qualified as a Future Pyxis Offering and accordingly, the Put Right is no longer available to MWR Holders.
Consideration value			$ 4.30
Gross proceeds from common share offering	$ 5,000	$ 4,800
MWR Holders [Member]
Maximum consideration value	$ 2,000

Commitments and Contingencies -

Commitments and Contingencies - Schedule of Future Minimum Contractual Charter Revenues (Details) $ in Thousands	Dec. 31, 2018USD ($)
Commitments and Contingencies Disclosure [Abstract]
2019	$ 2,813
Total	$ 2,813

Interest and Finance Costs, N_3

Interest and Finance Costs, Net - Schedule of Interest and Finance Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Interest And Finance Costs Net
Interest on long-term debt	$ 3,835	$ 2,674	$ 2,577
Interest on promissory note	213	70	69
Long-term debt prepayment fees	56
Amortization and write-off of financing costs	386	153	164
Total	$ 4,490	$ 2,897	$ 2,810

Schedule I - Condensed Financ_2

Schedule I - Condensed Financial Information of PYXIS TANKERS INC. (Parent Company Only) (Details Narrative) - Sixthone And Seventhone Corp [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2018
Pyxis Delta And Pyxis Theta Vessels [Member] | Loan Agreement Dated October 12, 2012 [Member]
Maximum required leverage ratio	65.00%		65.00%
Actual leverage ratio			68.00%
Actual leverage ratio description	Marginally lower than 65%
Difference between actual ratio and required threshold			3.00%
Parent Company [Member]
Dividend distributions received		$ 2,250

Schedule I - Condensed Financ_3

Schedule I - Condensed Financial Information of PYXIS TANKERS INC. (Parent Company Only) - Balance Sheets (Details) - USD ($) $ in Thousands		Dec. 31, 2018	Dec. 31, 2017
CURRENT ASSETS:
Total current assets		$ 4,307	$ 3,895
NON-CURRENT ASSETS:
Total assets		116,617	124,813
CURRENT LIABILITIES:
Accounts payable		4,746	2,293
Accrued and other liabilities		642	809
Total current liabilities		13,545	12,531
NON-CURRENT LIABILITIES:
Promissory note		5,000	5,000
Total non-current liabilities		63,129	64,126
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY:
Preferred stock ($0.001 par value; 50,000,000 shares authorized; none issued)
Common stock ($0.001 par value; 450,000,000 shares authorized; 20,877,893 and 21,060,190 shares issued and outstanding as of December 31, 2017 and 2018, respectively)		21	21
Additional paid-in capital		74,767	74,766
Accumulated deficit		(34,845)	(26,631)
Total liabilities and stockholders' equity		116,617	124,813
Parent Company [Member]
CURRENT ASSETS:
Cash and cash equivalents		17
Due from related parties		9,578	572
Prepayments and other assets		29	42
Total current assets		9,624	614
NON-CURRENT ASSETS:
Restricted cash			2,695
Investment in subsidiaries	[1]	35,598	50,082
Total non-current assets		35,598	52,777
Total assets		45,222	53,391
CURRENT LIABILITIES:
Accounts payable		162	72
Accrued and other liabilities		117	163
Total current liabilities		279	235
NON-CURRENT LIABILITIES:
Promissory note		5,000	5,000
Total non-current liabilities		5,000	5,000
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY:
Preferred stock ($0.001 par value; 50,000,000 shares authorized; none issued)
Common stock ($0.001 par value; 450,000,000 shares authorized; 20,877,893 and 21,060,190 shares issued and outstanding as of December 31, 2017 and 2018, respectively)		21	21
Additional paid-in capital		74,767	74,766
Accumulated deficit		(34,845)	(26,631)
Total stockholders' equity		39,943	48,156
Total liabilities and stockholders' equity		$ 45,222	$ 53,391
[1]	Eliminated on consolidation

Schedule I - Condensed Financ_4

Schedule I - Condensed Financial Information of PYXIS TANKERS INC. (Parent Company Only) - Balance Sheets (Details) (Parenthetical) - $ / shares	Dec. 31, 2018	Dec. 31, 2017
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, share authorized	50,000,000	50,000,000
Preferred stock, share issued	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, share authorized	450,000,000	450,000,000
Common stock, share issued	21,060,190	20,877,893
Common stock, share outstanding	21,060,190	20,877,893
Parent Company [Member]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, share authorized	50,000,000	50,000,000
Preferred stock, share issued	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, share authorized	450,000,000	450,000,000
Common stock, share issued	21,060,190	20,877,893
Common stock, share outstanding	21,060,190	20,877,893

Schedule I - Condensed Financ_5

Schedule I - Condensed Financial Information of PYXIS TANKERS INC. (Parent Company Only) - Statements of Comprehensive Loss (Details) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
		Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Expenses:
General and administrative expenses		$ (2,404)	$ (3,188)	$ (2,574)
Operating loss		(8,011)	(2,346)	(3,003)
Other expenses:
Interest and finance costs, net		(4,490)	(2,897)	(2,810)
Total other expenses, net		(203)	(2,897)	(2,810)
Net loss		$ (8,214)	$ (5,243)	$ (5,813)
Loss per common share, basic and diluted		$ (0.39)	$ (0.28)	$ (0.32)
Weighted average number of shares, basic and diluted		20,894,202	18,461,455	18,277,893
Parent Company [Member]
Expenses:
General and administrative expenses		$ (2,314)	$ (3,121)	$ (2,344)
Operating loss		(2,314)	(3,121)	(2,344)
Other expenses:
Interest and finance costs, net		(215)	(73)	(72)
Total other expenses, net		(215)	(73)	(72)
Equity in loss of subsidiaries	[1]	(5,685)	(2,049)	(3,397)
Net loss		$ (8,214)	$ (5,243)	$ (5,813)
Loss per common share, basic and diluted		$ (0.39)	$ (0.28)	$ (0.32)
Weighted average number of shares, basic and diluted		20,894,202	18,461,455	18,277,893
[1]	Eliminated on consolidation

Schedule I - Condensed Financ_6

Schedule I - Condensed Financial Information of PYXIS TANKERS INC. (Parent Company Only) - Statements of Stockholders' Equity (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Balance	$ 48,156	$ 48,753	$ 54,566
Issuance of common stock		4,291
Stock compensation		355
Net proceeds from the issuance of common stock	1
Net loss	(8,214)	(5,243)	(5,813)
Balance	39,943	48,156	48,753
Common Stock [Member]
Balance	$ 21	$ 18	$ 18
Balance, shares	20,877,893	18,277,893	18,244,671
Issuance of common stock		$ 3
Issuance of common stock, shares		2,400,000
Issuance of common stock - EIP, shares		200,000	33,222
Net proceeds from the issuance of common stock, shares	182,297
Balance	$ 21	$ 21	$ 18
Balance, shares	21,060,190	20,877,893	18,277,893
Additional Paid-in Capital [Member]
Balance	$ 74,766	$ 70,123	$ 70,123
Issuance of common stock		4,288
Stock compensation		355
Net proceeds from the issuance of common stock	1
Balance	74,767	74,766	70,123
Accumulated Deficit [Member]
Balance	(26,631)	(21,388)	(15,575)
Net loss	(8,214)	(5,243)	(5,813)
Balance	(34,845)	(26,631)	(21,388)
Parent Company [Member]
Balance	48,156	48,753	54,566
Issuance of common stock		4,291
Stock compensation		355
Net proceeds from the issuance of common stock	1
Net loss	(8,214)	(5,243)	(5,813)
Balance	39,943	48,156	48,753
Parent Company [Member] | Common Stock [Member]
Balance	$ 21	$ 18	$ 18
Balance, shares	20,877,893	18,277,893	18,244,671
Issuance of common stock		$ 3
Issuance of common stock, shares		2,400,000
Issuance of common stock - EIP, shares		200,000	33,222
Net proceeds from the issuance of common stock, shares	182,297
Balance	$ 21	$ 21	$ 18
Balance, shares	21,060,190	20,877,893	18,277,893
Parent Company [Member] | Additional Paid-in Capital [Member]
Balance	$ 74,766	$ 70,123	$ 70,123
Issuance of common stock		4,288
Stock compensation		355
Net proceeds from the issuance of common stock	1
Balance	74,767	74,766	70,123
Parent Company [Member] | Accumulated Deficit [Member]
Balance	(26,631)	(21,388)	(15,575)
Net loss	(8,214)	(5,243)	(5,813)
Balance	$ (34,845)	$ (26,631)	$ (21,388)

Schedule I - Condensed Financ_7

Schedule I - Condensed Financial Information of PYXIS TANKERS INC. (Parent Company Only) - Statements of Cash Flows (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash flows from operating activities:
Net loss		$ (8,214)	$ (5,243)	$ (5,813)
Adjustments to reconcile net loss to net cash from operating activities:
Stock compensation			355
Changes in assets and liabilities:
Prepayments and other assets		227	62	321
Accounts payable		2,499	(858)	2,012
Due to related parties		1,277	2,672	1,832
Accrued and other liabilities		(167)	176	(178)
Net cash used in operating activities		(2,203)	3,677	4,446
Cash flows from investing activities:
Net cash provided by investing activities		(99)
Cash flows from financing activities:
Gross proceeds from issuance of common stock		315	4,800
Common stock offering costs		(407)	(414)
Net cash provided by / (used in) financing activities		(187)	(2,767)	(7,285)
Net (decrease) / increase in cash and cash equivalents and restricted cash		(2,489)	910	(2,839)
Parent Company [Member]
Cash flows from operating activities:
Net loss		(8,214)	(5,243)	(5,813)
Adjustments to reconcile net loss to net cash from operating activities:
Stock compensation			355
Equity in loss of subsidiaries, net of dividends received*	[1]	5,685	2,049	5,647
Changes in assets and liabilities:
Due from related parties		(206)	(572)
Prepayments and other assets		13	(77)	2
Accounts payable		182	(34)	(121)
Due to related parties			1,678	(4,087)
Accrued and other liabilities		(46)	22	(71)
Net cash used in operating activities		(2,586)	(1,822)	(4,443)
Cash flows from investing activities:
Net cash provided by investing activities
Cash flows from financing activities:
Gross proceeds from issuance of common stock		315	4,800
Common stock offering costs		(407)	(414)
Net cash provided by / (used in) financing activities		(92)	4,386
Net (decrease) / increase in cash and cash equivalents and restricted cash		(2,678)	2,564	(4,443)
Cash and cash equivalents and restricted cash at the beginning of the year		2,695	131	4,574
Cash and cash equivalents and restricted cash at end of the year		$ 17	$ 2,695	$ 131
[1]	Eliminated on consolidation