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2017 and 2016 Quarterly Results of Operations (Unaudited)
 12 Months Ended
Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]  
2017 and 2016 Quarterly Results of Operations (Unaudited)
2017 and 2016 Quarterly Results of Operations (Unaudited)
 
We have presented the unaudited quarterly results of operations for the fiscal years ended December 31, 2017 and December 31, 2016.
 
Consolidated Statement of Operations
 
(Unaudited)
 
2017
 
 
 
Three Months
ended
March 31
 
Three Months
ended
June 30
 
Three Months
ended
September 30
 
Three Months ended December 31,
Revenues
 
$
45,855,057

 
$
53,631,224

 
$
62,710,903

 
$
74,587,441

Total Operating expenses
 
50,361,713

 
53,938,837

 
64,624,733

 
67,999,398

Operating (loss) income
 
(4,506,656
)
 
(307,613
)
 
(1,913,830
)
 
6,588,043

Net loss *
 
(11,068,448
)
 
(5,888,466
)
 
(10,255,346
)
 
(16,584,425
)
 
 
 
 
 
 
 
 
 
Basic Loss Per Share
 
$
(0.17
)
 
$
(0.08
)
 
$
(0.15
)
 
$
(0.24
)
Diluted Loss Per Share
 
$
(0.17
)
 
$
(0.08
)
 
$
(0.15
)
 
$
(0.24
)

* Net loss for the three months ended December 31, 2017 includes $15.0 million of loss on debt extinguishment.

(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
)
 
 
$
(9.98
)
 
$
(0.65
)
 
$
(2.96
)
 
Diluted Loss Per Share
 
$
(20.77
)
 
 
$
(9.98
)
 
$
(0.65
)
 
$
(2.96
)
 
 
a.
Includes impairment charge of $6,167,262.
b.
Includes impairment charge of $122,860,600.