EARNINGS PER COMMON SHARE (Tables)

12 Months Ended

Dec. 31, 2016

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, 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)

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, 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