Basic earnings (loss) per common share

Net income (loss)

$

148

$

(8,352

)

Less: Distributed and undistributed earnings allocated to nonvested shares

8

-

Net income (loss) allocated to common shareholders

$

140

$

(8,352

)

Weighted average common shares outstanding

23,121,555

23,009,369

$

0.01

$

(0.37

)

Diluted loss per common share

Net income (loss) allocated to common shareholders - basic

$

140

$

(8,352

)

Add: Undistributed earnings allocated to nonvested shareholders

(161

)

-

Net loss allocated to common shareholders - diluted

$

(21

)

$

(8,352

)

Weighted average common shares outstanding - basic

23,121,555

23,009,369

Dilutive effect of participating securities

-

Weighted average common shares outstanding - diluted

23,121,555

23,009,369

$

(0.00

)

$

(0.37

)