EARNINGS PER COMMON SHARE

12 Months Ended

Dec. 31, 2016

Earnings Per Common Share [Abstract]

EARNINGS PER COMMON SHARE

NOTE 15. - 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, 2016, 2015 and 2014:

	December 31,		December 31,		December 31,
	2016		2015		2014
Net loss attributed to common shareholders	$	(11,581,430)	$	(11,031,931)	$	(15,595,358)
Denominator for basic earnings per share-weighted average shares outstanding		79,842,773		68,143,284		59,993,413
Effect of dilutive securities:
Warrants, restricted stock and options outstanding		-		-		-
Denominator for diluted earnings per common share-weighted average shares adjusted for dilutive securities		79,842,773		68,143,284		59,993,413
Loss per common share - basic and diluted	$	(0.15)	$	(0.16)	$	(0.26)

Securities outstanding that were excluded from the computation of earnings per share for the years ended December 31, 2016, 2015 and 2014 because they would have been anti-dilutive are as follows:

	December 31,		December 31,		December 31,
	2016		2015		2014
Warrants		13,781,921		16,634,778		13,674,409
Restricted stock		-		-		250,000
Options		5,650,679		3,161,642		890,000
		19,432,600		19,796,420		14,814,409