EARNINGS (LOSS) PER SHARE

3 Months Ended

Mar. 31, 2015

EARNINGS (LOSS) PER SHARE [Text Block]

NOTE 9 –EARNINGS (LOSS) PER SHARE

The Company calculates earnings per share in accordance with ASC 260, Earnings Per Share , which requires a dual presentation of basic and diluted earnings per share. Basic earnings per share are computed using the weighted average number of shares outstanding during the reporting period. Diluted earnings per share represents basic earnings per share adjusted to include the potentially dilutive effect of outstanding stock options, warrants and convertible notes (using the if-converted method). For the three months ended March 31, 2015 and 2014, the average number of potentially dilutive common shares was 116,694 and 0, respectively.

The following is the calculation of earnings per share:

		For the three months ended
		March 31,
		2015		2014
Net income (loss)	$	6,131,653	$	(14,086,160	)
Weighted average shares used in basic computation		46,281,299		39,597,785
Dilutive shares		116,694		-
Weighted average shares used in diluted computation		46,397,993		39,597,785
Earnings (loss) per share:
Basic	$	0.13	$	(0.36	)
Diluted	$	0.13	$	(0.36	)

Also see Note 18.