2. Per Share Data

9 Months Ended

Sep. 30, 2016

Earnings Per Share [Abstract]

Per Share Data

Basic per share amounts are computed by dividing net income (loss), after deducting current period dividends on the Company's preferred stock, by the weighted average number of common shares outstanding during the period. The weighted average number of common shares outstanding for the three and nine months ended September 30, 2016 and 2015 was 5,317,758.

Diluted per share amounts are computed by dividing net income (loss) attributable to common shareholders by the weighted average number of common shares outstanding, after adjusting for the estimated effect of the assumed conversion of all cumulative convertible preferred stock and outstanding convertible debentures, if dilutive, into shares of common stock. For the three months ended September 30, 2016 and the three and nine months ended September 30, 2015, the assumed conversion of all outstanding convertible preferred stock and collateralized convertible debentures would have been anti-dilutive.

The following is a summary of the calculations used in computing basic and diluted income (loss) per share for the three and nine months ended September 30, 2016 and 2015.

	Three Months Ended						Nine Months Ended
	September 30,			September 30,			September 30,			September 30,
	2016			2015			2016			2015
	($ in thousands, except share and per share data)
Net income (loss)	$	(364	)	$	(2,195	)	$	3,330		$	(6,195	)
Preferred dividends		(160	)		(160	)		(480	)		(480	)
Income (Loss) Available to	$	(524	)	$	(2,355	)	$	2,850		$	(6,675	)
Common shareholders
Weighted Average Number
Of Common Shares
Outstanding (Basic)		5,317,758			5,317,758			5,317,758			5,317,758
Weighted Average Number
Of Common Shares
Outstanding (Diluted)		5,317,758			5,317,758			10,095,525			5,317,758
Basic Income (Loss)
Per Share	$	(0.10	)	$	(0.44	)	$	0.54		$	(1.26	)
Diluted Income (Loss)
Per Share	$	(0.10	)	$	(0.44	)	$	0.38		$	(1.26	)