Income (Loss) per Share. The limited partners’ outstanding limited partnership units in the Operating Partnership (which may be redeemed for common stock upon notice from the limited partner and following our election to redeem the units for stock rather than cash) have been excluded from the diluted earnings per share calculation as there would be no effect on the amounts since the limited partners’ share of income would also be added back to net income (loss). The shares of the Series B Preferred Stock and Series C Preferred Stock are not convertible into or exchangeable for any other property or securities of the Company, except upon the occurrence of a change of control and have been excluded from the diluted earnings per share calculation as there would be no impact on the current controlling stockholders. The non-committed, unearned ESOP shares are treated as reducing the number of issued and outstanding common shares and similarly reducing the weighted average number of common shares outstanding. The allocated and committed to be released shares have been included in the weighted average diluted earnings per share calculation, and the amount of compensation for allocated shares is reflected in net income. There are no ESOP units, therefore there is no dilution on the calculation of earnings per unit. The computation of basic and diluted net income per share is presented below.

	Three Months Ended			Three Months Ended
	March 31, 2019			March 31, 2018
	(unaudited)			(unaudited)
Numerator
Net loss available to common stockholders for basic and diluted computation	$	(1,653,763	)	$	(238,343	)
Denominator
Weighted average number of common shares outstanding		14,216,425			14,114,373
Weighted average number of Unearned ESOP Shares		(605,675	)		(641,929	)
Total weighted average number of common shares outstanding for basic computation		13,610,750			13,472,444
Basic net loss per share	$	(0.12	)	$	(0.02	)

Income Per Unit – The computation of basic and diluted net income per unit is presented below.

	Three Months Ended			Three Months Ended
	March 31, 2019			March 31, 2018
	(unaudited)			(unaudited)
Numerator
Net loss available to common unitholders for basic computation	$	(1,860,712	)	$	(268,356	)
Denominator
Weighted average number of units outstanding		15,994,565			15,892,513
Basic net loss per unit	$	(0.12	)	$	(0.02	)