EARNINGS PER COMMON SHARE (Tables)

12 Months Ended

Dec. 31, 2015

Earnings Per Common Share [Abstract]

Computation of Basic and Diluted Earnings Per Common Share

The following table sets forth the computation of basic and diluted earnings per common share for the years ended December 31, 2015, 2014 and 2013:

	December 31,		December 31,		December 31,
	2015		2014		2013
Net loss attributed to common shareholders	$	(11,031,931)	$	(15,595,358)	$	(26,153,158)
Denominator for basic earnings per share-weighted average shares outstanding		68,143,284		59,993,413		43,635,182
Effect of dilutive securities:
Warrants, restricted stock and options outstanding		-		-		-
Denominator for diluted earnings per common share-weighted average shares adjusted for dilutive securities		68,143,284		59,993,413		43,635,182
Loss per common share - basic and diluted	$	(0.16)	$	(0.26)	$	(0.60)

Schedule Outstanding Excluded from Computation Because they would have bee Anti-dilutive

Securities outstanding that were excluded from the computation of earnings per share for the years ended December 31, 2015, 2014 and 2013 because they would have been anti-dilutive are as follows:

	December 31,		December 31,		December 31,
	2015		2014		2013
Warrants		16,634,778		13,674,409		10,653,469
Restricted stock		-		250,000		500,000
Options		3,161,642		890,000		660,000
		19,796,420		14,814,409		11,813,469