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EARNINGS PER SHARE
 12 Months Ended
Dec. 31, 2015
Earnings Per Share [Abstract]  
EARNINGS PER SHARE
EARNINGS PER SHARE
Basic earnings per share includes no dilution and is computed by dividing income (loss) available to common shareholders by the weighted average number of common shares outstanding for the periods presented. The calculation of basic earnings per share for the year ended December 31, 2015 includes the weighted average of common shares outstanding.  Diluted earnings per share reflect the potential dilution of securities that could share in the earnings of an entity, such as convertible preferred stock, stock options, warrants or convertible securities.  The calculation of diluted earnings per share for the year ended December 31, 2015 does not include options to purchase 2,375,091 shares and warrants to purchase 219,868 shares due to their anti-dilutive effect.
The following is a reconciliation of the numerator and denominator for basic and diluted earnings per share for the years ended December 31, 2015 and 2014:
 
 
2015
 
2014
Basic Earnings per Share
 
 
 
 
Numerator:
 
 
 
 
Net income (loss) available to common shareholders
 
$
(24,102,700
)
 
$
(5,546,243
)
Denominator:
 
 

 
 

Weighted-average common shares outstanding
 
28,181,096

 
23,807,780

Basic earnings per share
 
$
(0.86
)
 
$
(0.23
)
 
 
 
 
 
Diluted Earnings per Share
 
 
 
 
Numerator:
 
 
 
 
Net income (loss) available to common shareholders
 
$
(24,102,700
)
 
$
(5,546,243
)
Denominator:
 
 

 
 

Weighted-average shares outstanding
 
28,181,096

 
23,807,780

Effect of dilutive securities
 
 
 
 
Stock options and warrants
 
—

 
—

Preferred stock
 
—

 
—

Diluted weighted-average shares outstanding
 
28,181,096

 
23,807,780

Diluted earnings (loss) per share
 
$
(0.86
)
 
$
(0.23
)