Basic earnings per share of common stock:

Numerator -

Net income attributable to common stockholders

$

4,440,265

$

5,842,828

Denominator -

Weighted-average common shares outstanding

28,279,701

Income per share of common stock - Basic

$

0.16

$

0.21

Diluted earnings per share of common stock:

Numerator -

Net income attributable to common stockholders

$

4,440,265

$

5,842,828

Add: Preferred stock dividends due to assumed conversion

-

495,681

Net income allocated to common stockholders

$

4,440,265

$

6,338,509

Denominator -

Weighted-average common shares outstanding-basic

28,279,701

Incremental common shares from assumed conversion of warrants and preferred stock, as appropriate

495,283

3,825,814

Diluted weighted average common stock outstanding

28,774,984

32,105,515

Income per share of common stock - Diluted

$

0.15

$

0.20