XML 41 R29.htm IDEA: XBRL DOCUMENT v3.5.0.2
EARNINGS PER SHARE (Tables)
 9 Months Ended
Sep. 30, 2016
Earnings Per Share [Abstract]  
Schedule of reconciliation of basic and diluted earnings per share
The following is a reconciliation of the numerator and denominator for basic and diluted earnings per share for the nine months ended September 30, 2016 and 2015: 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2016
 
2015
 
2016
 
2015
Basic Earnings per Share
 
 
 
 
 
 
 
Numerator:
 
 
 
 
 
 
 
Net (loss) income available to common shareholders
$
(1,047,564
)
 
$
(2,972,571
)
 
$
(9,543,203
)
 
$
(20,384,221
)
Denominator:
 
 
 
 
 

 
 

Weighted-average shares outstanding
30,576,485

 
28,198,701

 
29,884,836

 
28,165,427

Basic earnings per share
$
(0.03
)
 
$
(0.11
)
 
$
(0.32
)
 
$
(0.72
)
 
 
 
 
 
 
 
 
Diluted Earnings per Share
 
 
 
 
 

 
 

Numerator:
 
 
 
 
 

 
 

Net (loss) income available to common shareholders
$
(1,047,564
)
 
$
(2,972,571
)
 
$
(9,543,203
)
 
$
(20,384,221
)
Denominator:
 
 
 
 
 

 
 

Weighted-average shares outstanding
30,576,485

 
28,198,701

 
29,884,836

 
28,165,427

Effect of dilutive securities
 
 
 
 
 

 
 

Stock options and warrants
—

 
—

 
—

 
—

Preferred Stock
—

 
—

 
—

 
—

Diluted weighted-average shares outstanding
30,576,485

 
28,198,701

 
29,884,836

 
28,165,427

Diluted earnings per share
$
(0.03
)
 
$
(0.11
)
 
$
(0.32
)
 
$
(0.72
)