Computation of Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2014

Computation of Earnings Per Share [Abstract]

Computation of earnings per share

Basic and diluted earnings per share are calculated as follows:

	For the Three Months Ended March 31,
	2014		2013
Net income	$	369,700	$	3,817,900
Weighted average shares outstanding for the period		1,543,257		1,543,257
Dilutive effect of warrants		39,807		39,070
Weighted average diluted shares used in calculation of diluted earnings per share		1,583,064		1,582,327
Basic earnings per share	$	0.24	$	2.47
Diluted earnings per share	$	0.23	$	2.41