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(LOSS) EARNINGS PER SHARE (Tables)
12 Months Ended
Dec. 31, 2015
(LOSS) EARNINGS PER SHARE [Abstract]  
Basic and Diluted Earnings per Share Calculations
The basic and diluted earnings per share (“EPS”) calculations are as follows as of the years ended December 31, (amounts in thousands, except share data):

  
2015
  
2014
 
       
Net (loss) income
 
$
(7,960
)
 
$
2,485
 
         
Average common shares outstanding - Basic
  
7,951
   
7,951
 
Dilutive effect of convertible preferred stock
  
-
   
18,859
 
Average common shares outstanding - Diluted
  
7,951
   
26,810
 
         
(Loss) earnings per share of common stock - Basic
 
$
(1.00
)
 
$
0.31
 
         
(Loss) earnings per share of common stock - Diluted
 
$
(1.00
)
 
$
0.09