Computation of Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2013

Basic and diluted earnings per share are calculated as follows:

	For the Nine Months Ended September 30,				For the Three Months Ended September 30,
	2013		2012		2013			2012
Net income/(loss)	$	4,613,300	$	3,398,500	$	(340,600	)	$	1,112,900
Weighted average shares outstanding for the period		1,543,257		1,543,257		1,543,257			1,543,257
Dilutive effect of warrants		44,072		17,196		-			21,800
Weighted average diluted shares used in calculation of diluted earnings/(loss) per share		1,587,329		1,560,453		1,543,257			1,565,057
Basic earnings/(loss) per share	$	2.99	$	2.20	$	(0.22	)	$	0.72
Diluted earnings/(loss) per share	$	2.91	$	2.18	$	(0.22	)	$	0.71