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 three and nine months ended September 30, 2017 and 2016: | | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | Nine Months Ended September 30, | | 2017 | | 2016 | | 2017 | | 2016 | Basic Earnings per Share | | | | | | | | Numerator: | | | | | | | | Net (loss) income available to common shareholders | $ | (3,829,125 | ) | | $ | (1,047,564 | ) | | $ | (10,572,545 | ) | | $ | (9,543,203 | ) | Denominator: | | | | | |
| | |
| Weighted-average shares outstanding | 32,655,135 |
| | 30,576,485 |
| | 32,651,961 |
| | 29,884,836 |
| Basic earnings per share | $ | (0.12 | ) | | $ | (0.03 | ) | | $ | (0.32 | ) | | $ | (0.32 | ) | | | | | | | | | Diluted Earnings per Share | | | | | |
| | |
| Numerator: | | | | | |
| | |
| Net (loss) income available to common shareholders | $ | (3,829,125 | ) | | $ | (1,047,564 | ) | | $ | (10,572,545 | ) | | $ | (9,543,203 | ) | Denominator: | | | | | |
| | |
| Weighted-average shares outstanding | 32,655,135 |
| | 30,576,485 |
| | 32,651,961 |
| | 29,884,836 |
| Effect of dilutive securities | | | | | |
| | |
| Stock options and warrants | — |
| | — |
| | — |
| | — |
| Preferred Stock | — |
| | — |
| | — |
| | — |
| Diluted weighted-average shares outstanding | 32,655,135 |
| | 30,576,485 |
| | 32,651,961 |
| | 29,884,836 |
| Diluted earnings per share | $ | (0.12 | ) | | $ | (0.03 | ) | | $ | (0.32 | ) | | $ | (0.32 | ) |
|