2. Per Share Data

3 Months Ended

Mar. 31, 2017

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 months ended March 31, 2017 and 2016 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 March 31, 2017 and 2016, 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 loss per share for the three months ended March 31, 2017 and 2016.

	Three Months Ended
	March 31,			March 31,
	2017			2016
	($ in thousands, except
	share and per share data)
Net Loss	$	(449	)	$	(2,336	)
Preferred dividends		(160	)		(160	)
Loss available to common shareholders	$	(609	)	$	(2,496	)
Weighted average number of common shares outstanding		5,317,758			5,317,758
Basic and diluted loss per common share	$	(0.11	)	$	(0.47	)