XML 29 R18.htm IDEA: XBRL DOCUMENT v3.3.1.900
Computation of Earnings Per Share
 12 Months Ended
Dec. 31, 2015
Computation of Earnings Per Share [Abstract]  
Computation of Earnings Per Share
10.  Computation of Earnings Per Share

Basic and diluted earnings per share are calculated as follows:

  
For the Years Ended December 31,
 
  
2015
  
2014
 
Net income/(loss)
 
$
6,437,600
  
$
(11,294,000
)
Weighted average shares outstanding for the period
  
1,544,285
   
1,543,257
 
Dilutive effect of warrants
  
-
   
-
 
Weighted average diluted shares used in calculation
   of diluted earnings/(loss) per share
  
1,544,285
   
1,543,257
 
Basic earnings/(loss) per share
 
$
4.17
  
$
(7.32
)
Diluted earnings/(loss) per share
 
$
4.17
  
$
(7.32
)

Basic earnings per common share is computed using net income and the weighted average number of common shares outstanding during the period.  Diluted earnings per common share are computed using net income and the weighted average number of common shares outstanding, assuming dilution.  Weighted average common shares outstanding, assuming dilution, include potentially dilutive common shares outstanding during the period. Potentially dilutive common shares include the assumed exercise of warrants using the treasury stock method.  For the year ended December 31, 2014, warrants for 81,224 shares were not included in the calculation of diluted loss per share because the effect would have been anti-dilutive.  As discussed in Note 12, the warrants were exercised on December 16, 2015 and 23,442 shares of Common Stock were issued to the warrantholders.