Computation of Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2014

Basic and diluted earnings per share are calculated as follows:

	For the Six Months Ended June 30,					For the Three Months Ended June 30,
	2014			2013		2014			2013
Net (loss)/income	$	(3,550,800	)	$	5,154,300	$	(3,920,400	)	$	1,336,400
Weighted average shares outstanding for the period		1,543,257			1,543,257		1,543,257			1,543,257
Dilutive effect of warrants		-			42,409		-			45,074
Weighted average diluted shares used in calculation of diluted (loss)/earnings per share		1,543,257			1,585,666		1,543,257			1,588,331
Basic (loss)/earnings per share	$	(2.30	)	$	3.34	$	(2.54	)	$	0.87
Diluted (loss)/earnings per share	$	(2.30	)	$	3.25	$	(2.54	)	$	0.84