EARNINGS (LOSS) PER SHARE

Net earnings (loss) per weighted average Common Share outstanding, basic and diluted, is computed based on the weighted average number of Common Shares outstanding for the period. The following table shows the weighted average number of Common Shares outstanding and reconciles the numerator and denominator of both earnings (loss) per Common Share calculations for the three and six month periods ended June 30, 2017 and 2016.



	Three Months Ended June 30,					Six Months Ended June 30,
(in thousands, except share and per share data)	2017		2016			2017		2016
Numerator:
Net income (loss) available to common shareholders	$	127	$	(75	)	$	100	$	(115	)
Dilutive effect of interest from convertible notes payable	5		—			—		—
Net income (loss) available to common shareholders with assumed conversion	$	132	$	(75	)	$	100	$	(115	)

Denominator:
Weighted average number of common shares - basic	405,169		405,115			405,169		405,106
Effect of dilutive securities:
Assumed conversion of Preferred A Shares	53,610		—			53,610		—
Assumed conversion of Preferred C Shares	2,444,440		—			2,444,440		—
Assumed conversion of convertible notes payable	172,574		—			—		—
Weighted average number of common shares - dilutive	3,075,793		405,115			2,903,219		405,106

Earnings (Loss) Per Share:
Basic income (loss) per common share:
Net income (loss) available to common shareholders	$	0.31	$	(0.18	)	$	0.25	$	(0.28	)
Diluted income (loss) per common share:
Net income (loss) available to common shareholders	$	0.04	$	(0.18	)	$	0.03	$	(0.28	)