The following table sets forth
the calculation of basic and diluted earnings per share for the three-month period ended March 31, 2011:
|
|
Income |
|
|
Shares |
|
|
Per-Share |
|
|
|
(Numerator) |
|
|
(Denominator) |
|
|
Amount |
|
|
|
|
|
|
|
|
|
|
|
Net income |
|
$ |
368,012 |
|
|
|
19,422,650 |
|
|
$ |
0.02 |
|
Less preferred stock dividends |
|
|
(24,953 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings per share - basic |
|
|
|
|
|
|
|
|
|
|
|
|
Income available to common stockholders |
|
|
343,059 |
|
|
|
|
|
|
|
0.02 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Effect of dilutive securities |
|
|
|
|
|
|
|
|
|
|
|
|
Options |
|
|
|
|
|
|
328,895 |
|
|
|
|
|
Convertible preferred stock |
|
|
24,953 |
|
|
|
366,666 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per share |
|
|
|
|
|
|
|
|
|
|
|
|
Income available to common stockholders and assumed conversions |
|
$ |
368,012 |
|
|
|
20,118,211 |
|
|
$ |
0.02 |
|
The following table sets forth
the calculation of basic and diluted earnings per share for the three-month period ended March 31, 2012:
|
|
Income |
|
|
Shares |
|
|
Per-Share |
|
|
|
(Numerator) |
|
|
(Denominator) |
|
|
Amount |
|
|
|
|
|
|
|
|
|
|
|
Net income |
|
$ |
368,012 |
|
|
|
19,422,650 |
|
|
$ |
0.02 |
|
Less preferred stock dividends |
|
|
(24,953 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings per share - basic |
|
|
|
|
|
|
|
|
|
|
|
|
Income available to common stockholders |
|
|
343,059 |
|
|
|
|
|
|
|
0.02 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Effect of dilutive securities |
|
|
|
|
|
|
|
|
|
|
|
|
Options |
|
|
|
|
|
|
328,895 |
|
|
|
|
|
Convertible preferred stock |
|
|
24,953 |
|
|
|
366,666 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per share |
|
|
|
|
|
|
|
|
|
|
|
|
Income available to common stockholders and assumed conversions |
|
$ |
368,012 |
|
|
|
20,118,211 |
|
|
$ |
0.02 |
|
|