2.4.0.8100800 - Disclosure - Preferred, Common Stock and Additional Paid in Capitaltruefalsefalse1false falsefalsefyp0dhttp://www.sec.gov/CIK0001386716duration2013-01-01T00:00:002013-06-30T00:00:001true 1us-gaap_StockholdersEquityNoteAbstractus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse0Preferred, Common Stock and Additional Paid-in Capital [Abstract]2false 2us-gaap_StockholdersEquityNoteDisclosureTextBlockus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalseterseLabel1falsefalsefalse00<div style="text-align:justify;margin-left: 37.8px;text-indent:-37.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>9.      Preferred, Common Stock and Additional Paid in Capital:</b></font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Preferred Stock:</b> Star Bulk is authorized to issue up to 25,000,000 shares of preferred stock, $0.01 par value with such designations, as voting, and other rights and preferences, as determined by the Board of Directors. As of June 30, 2013 the Company has not issued any preferred stock.</font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Common Stock:</b> Until 2009, Star Bulk was authorized to issue 100,000,000 registered common shares, par value $0.01. On November 23, 2009 at the Company's annual meeting of shareholders, the Company's shareholders voted to approve an amendment to the Amended and Restated Articles of Incorporation increasing the number of common shares that the Company was authorized to issue from 100,000,000 registered common shares, par value $0.01 per share, to 300,000,000 registered common shares, par value $0.01 per share.</font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Each outstanding share of the Company's common stock entitles the holder to one vote on all matters submitted to a vote of shareholders. Subject to preferences that may be applicable to any outstanding shares of preferred stock, holders of shares of common stock are entitled to receive ratably all dividends, if any, declared by the Company's Board of Directors out of funds legally available for dividends. Holders of common stock do not have conversion, redemption or preemptive rights to subscribe to any of the Company's securities. All outstanding shares of common stock are fully paid and non-assessable. The rights, preferences and privileges of holders of common stock are subject to the rights of the holders of any shares of preferred stock which the Company may issue in the future.</font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>15-for-1 reverse stock split:</b> Effective as of the opening of trading on October 15, 2012, the Company affected a one-for-fifteen reverse stock split of its common shares. The reverse stock split was approved by shareholders at the Company's 2012 Annual General Meeting of Shareholders held on September 7, 2012. The reverse stock split reduced the number of the Company's common shares from 81,012,403 to 5,400,810 and affected all issued and outstanding common shares. No fractional shares were issued in connection to the reverse split. Shareholders who would otherwise hold a fractional share of the Company's common stock received a cash payment in lieu of such fractional share.</font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Share repurchase Plan:</b> On February 23, 2010, the Company's Board of Directors adopted a stock repurchase plan for up to $30,000 to be used for repurchasing the Company's common shares until December 31, 2011. All repurchased shares would be cancelled and removed from the Company's share capital.</font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On August 10, 2011, the Company's Board of Directors decided to reinstate the share repurchase plan with the limitation of acquiring up to a maximum amount of $3,000 worth of Company's shares, at a maximum price of $1.30 per share. On November 9, 2011, the Company's Board of Directors extended the duration of the share repurchase plan until December 31, 2012.</font></div> <div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div> <div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">During the six month period ended June 30, 2012, the Company repurchased in the open market, for an aggregate purchase price of $861, and cancelled 61,730 treasury shares.</font></div>falsefalsefalsenonnum:textBlockItemTypenaThe entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Article 4 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29, 30, 31 -Article 5 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 43 -Section B -Paragraph 7, 11A -Chapter 1 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. 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