Earnings per share

3 Months Ended

Mar. 31, 2019

Earnings per common share:

Earnings per share

Note 15 - Earnings per share

Basic and diluted earnings per share are calculated as follows:

	Three-Month Period Ended March 31,
	2019			2018
	US$			US$
Numerator:
Net income		10,980,715			19,099,901
Less:
Earnings allocated to participating Series D convertible preferred stock		(2,624,264	)		(4,638,091	)
Earnings allocated to participating nonvested shares		-			(46,703	)
Net income for basic and dilutive earnings per share		8,356,451			14,415,107
Denominator:
Denominator for basic and diluted earnings per share		50,948,841			49,727,731
Earnings per share:
Basic and diluted		0.16			0.29

The following table summarizes potentially dilutive securities excluded from the calculation of diluted earnings per share for the three-month periods ended March 31, 2019 and 2018 because their effects are anti-dilutive:

	Three-Month Period Ended March 31,
	2019		2018
Shares issuable upon conversion of Series D convertible preferred stock		16,000,000		16,000,000