Note 8 - Income (Loss) Per Common Share

6 Months Ended

Jun. 30, 2013

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

8.             Income (Loss) per Common Share

Income (loss) per common share is computed by dividing net income (loss) by the weighted average of common shares outstanding for the period. As discussed in note 2, Reorganization, above, the Management Equity Plan was adopted by the Company’s board of directors on June 18, 2013, was adopted by the holders of Class B common stock on July 12, 2013 and will be voted on by the holders of Class A common stock at the Annual Meeting. The aggregate number of shares of Class A common stock that may be issued under all equity-based awards made under the Management Equity Plan is 344,859. If all of the shares of Class A common stock authorized for issuance under the Management Equity Plan had been issued and outstanding on the date of this Quarterly Report on Form 10-Q, they would have represented 10% of the total number of shares of Class A common stock and Class B common stock outstanding. The Management Equity Plan permits the granting of stock options (including both incentive and non-qualified stock options), restricted stock and stock awards. As of the date of this Quarterly Report on Form 10-Q, the Management Equity Plan has not been adopted by the holders of Class A common stock and no awards have been granted under the Management Equity Plan, and therefore the Management Equity Plan is not considered dilutive in the earnings per share calculations below.

A reconciliation of the Company’s income (loss) per common share calculation is as follows:

	Three Months Ended June 30,					Six Months Ended June 30,
	2012			2013		2012			2013
	(restated)					(restated)
Weighted average of common shares outstanding		2,644,281			2,826,040		2,644,281			2,735,663
Net income (loss)	$	(128,010,613	)	$	109,648,222	$	(127,192,375	)	$	107,874,201
Net income (loss) per common share	$	(48.41	)	$	38.80	$	(48.10	)	$	39.43