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EARNINGS PER SHARE (Tables)
 9 Months Ended
Sep. 30, 2015
Earnings Per Share [Abstract]  
Reconciliation of Basic and Diluted Net Income Per Share
The following table presents a reconciliation of basic and diluted net income per share:
 
 
 
For the Three Months Ended
 
For the Nine Months
 
 
 
September 30,
 
Ended September 30,
 
 
 
2015
 
2014
 
2015
 
2014
 
 
 
 
 
 
 
 
 
 
 
Net income
 
$
8,764,990
 
$
5,233,998
 
$
15,919,631
 
$
39,241,609
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted average number of common shares outstanding - Basic
 
 
65,963,502
 
 
65,953,462
 
 
65,963,502
 
 
65,905,667
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Effect of dilutive securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
Unexercised warrants and options
 
 
-
 
 
184,106
 
 
-
 
 
379,703
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted average number of common shares outstanding - Diluted
 
 
65,963,502
 
 
66,137,568
 
 
65,963,502
 
 
66,285,370
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings per share-Basic
 
$
0.13
 
$
0.08
 
$
0.24
 
$
0.60
 
Earnings per share-Diluted
 
$
0.13
 
$
0.08
 
$
0.24
 
$
0.59