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Note 6 - Investment
 12 Months Ended
Dec. 31, 2016
Notes to Financial Statements  
Investment [Text Block]
Note 
6.
Investment
 
Korea Line Corporation (“KLC”)
 
During the year ended
December
31,
2015,
all the KLC shares have been sold for net proceeds of
$7.8
million and a loss of
$0.5
million recorded for the year ended
December
31,
2015.
 
The KLC investment was designated as Available For Sale (“AFS”) and was reported at its fair value, with unrealized gains and losses recorded in equity as a component of accumulated other comprehensive income (loss) (“AOCI”). The fair value of KLC shares are determined from the market price as quoted on the Korean Stock Exchange and by converting the South Korean Won (“KRW”) extended value into U.S. dollars with the exchange rate applicable on date of conversion. The Company reviewed the investment in KLC for impairment on a quarterly basis.
  
 The following table represents the movement in KLC capital stock, which was recorded at fair value:
 
 
 
No. of
KLC Shares
 
 
Cost
Basis-Adjusted
 
 
Fair Value
 
 
Unrealized
Gain/(Loss)
reported in
OCI
 
 
Other-than Temporary
Loss reported
in
Earnings-YTD
 
 
Gain/(Loss)
On Sale of
KLC
Stock-YTD
 
Balance at January 1, 2014 (Predecessor)
 
 
566,529
 
 
$
13,817,439
 
 
$
13,817,439
 
 
 
 
 
 
$
(18,414,366
)
 
$
(417,966
)
                                                 
Fair Value-Adjustments, net
    
 
      
 
      
(442,288
)
    
(442,288
)
    
 
      
 
  
                                                 
Fair Value-Adjustments, net
    
 
      
 
      
210,293
      
210,293
      
 
      
 
  
                                                 
Reorganization Adjustment
    
 
      
(231,995
)
    
 
      
231,995
      
 
      
 
  
                                                 
Balance at October 16, 2014 (Successor)
 
 
566,529
 
 
 
13,585,444
 
 
 
13,585,444
 
 
 
-
 
 
 
 
 
 
 
 
 
                                                 
KLC Stock sold
    
(179,076
)
    
(4,294,267
)
    
(4,294,267
)
    
 
      
 
      
 
  
                                                 
Other-than-Temporary Loss Adjustments
    
 
      
(990,437
)
    
(990,437
)
    
 
      
(990,437
)
    
-
  
                                                 
Balance at December 31, 2014 (Successor)
 
 
387,453
 
 
 
8,300,740
 
 
 
8,300,740
 
 
 
 
 
 
 
(990,437
)
 
 
 
 
KLC Stock sold
    
(387,453
)
   $
(8,300,740
)
   $
(7,838,346
)
    
 
      
 
      
 
  
Loss on sale of KLC stock
    
 
      
 
      
(462,394
)
 
 
 
 
 
 
 
 
 
$
(462,394
)
Balance at December 31, 2015 (Successor)
 
 
-
 
 
$
-
 
 
$
-
 
 
$
-
 
 
 
-
 
 
$
(462,394
)