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Note 17 - 2016 and 2015 Quarterly Results of Operations (Unaudited)
 12 Months Ended
Dec. 31, 2016
Notes to Financial Statements  
Quarterly Financial Information [Text Block]
Note
17.
  
2016
and
2015
Quarterly Results of Operations (Unaudited)
 
 We have presented the unaudited quarterly results of operations for the fiscal years ended
December
31,
2016
and
December
31,
2015.
 
Consolidated Statement of Operations
 
(Unaudited)
 
2016
 
   
Three Months
ended
March 31
    
Three Months
ended
June
30
    
Three Months
ended
September 30
    
Three Months
ended
December 31
  
                                 
Revenues
   $
21,278,288
 
   $
25,590,434
     $
35,788,181
 
   $
41,835,941
 
Total Operating Expenses
    
57,742,766
(a)
    
42,882,423
      
47,512,409
 
    
177,607,218
 (b)
Operating Loss
    
(36,464,478
)
    
(17,291,989
 )    
(11,724,228
)
    
(135,771,277
)
Net Loss
    
(39,278,670
)
    
(22,495,573
 )    
(19,359,044
)
    
(142,389,148
)
                                 
Basic Loss Per Share
   $
(20.77
)(c)
   $
(9.98
 )   $
(0.65
)(d)
   $
(2.96
)
Diluted Loss Per Share
   $
(20.77
)
   $
(9.98
 )   $
(0.65
)(d)
   $
(2.96
)
 
a.
Includes impairment charge of
$6,167,262.
 
b.
Includes impairment charge of
$122,860,600.
 
c.
Basic and Diluted loss per share have been restated to reflect the
1
for
20
reverse stock split, effective
August
5,
2016.
  d.
The basic and diluted loss per share for the
three
months ended
September
30,
2016
has been restated from the previously reported basic and diluted loss per share of
$0.52
to a
$0.65
basic and diluted loss per share to correct a clerical error.  Additionally, the basic and diluted loss per share previously reported in the Company’s Quarterly Report on Form
10
-Q
for the
nine
months ended
September
30,
2016
as
$3.94
per share, will be restated to a basic and diluted loss of
$7.17
per share due to a clerical error when next presented in our Quarterly Report on Form
10
-Q for the quarterly period ending
September
30,
2017.
 
 
(Unaudited)
 
2015
 
 
 
Three Months
ended
March 31
 
 
Three Months
ended
June 30
 
 
Three Months
ended
September 30
 
 
Three Months
ended
December 31
 
                                 
Revenues
   $
26,331,166
     $
22,657,372
     $
29,127,482
     $
25,740,856
  
Total Operating Expenses
    
43,839,019
      
47,011,056
      
46,135,325
      
102,409,040*
  
Operating Loss
    
(17,507,853
)
    
(24,353,684
)
    
(17,007,843
)
    
(76,668,184
)
Net Loss
    
(20,667,064
)
    
(27,508,300
)
    
(20,376,620
)
    
(79,744,981
)
                                 
Basic Loss Per Share **
   $
(11.01
)
   $
(14.62
)
   $
(10.83
)
   $
(42.37
)
Diluted Loss Per Share **
   $
(11.01
)
   $
(14.62
)
   $
(10.83
)
   $
(42.37
)
 
*includes impairment charge of
$50,872,734.
** Basic and Diluted loss per share have been restated to reflect the
1
for
20
reverse stock split, effective
August
5,
2016.