STOCKHOLDERS' EQUITY AND EARNINGS PER SHARE (Tables)

12 Months Ended

Dec. 31, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Our capital structure consisted of the following at December 31, 2016 and 2015:



		December 31,
		2016		2015
	Authorized	Total Issued		Total Issued
Common Stock
Common Stock	150,208,500	728,259		343,117
Class B Common Stock:
Class B-1	4,023,400	3,811,342		3,811,342
Class B-2	4,023,400	3,811,342		3,811,342
Class B-3	8,165,700	7,735,169		7,735,169
Class B-4	781,644	627,579		627,579
Total Class B Common Stock	16,994,144	15,985,432		15,985,432
Class C Common Stock	15,803,212	838,448		838,448
Class D Common Stock	16,994,144	—		—
Total Common Stock	200,000,000	17,552,139		17,166,997
Preferred Stock	100,000,000	8,200,000		8,200,000
Total	300,000,000	25,752,139		25,366,997
Less: Treasury Stock		(1,629,818	)	(1,629,818	)
Total issued and outstanding		24,122,321		23,737,179

Shares Reserved for Futures Issuance

In addition, at December 31, 2016 and 2015, the Company had reserved 14.6 million shares and 14.5 million shares, respectively, of its authorized but unissued common stock for possible future issuance in connection with the following:



	2016	2015
Exercise and future grants of stock options	2,700,000	2,700,000
Exercise of stock warrants	2,000,000	2,000,000
Conversion of preferred stock	8,200,000	8,200,000
Approved but unissued restricted common stock	1,675,126	1,565,000
Total	14,575,126	14,465,000

Fair Value Inputs, Instruments Classified in Shareholders' Equity, Quantitative Information

For stock options issued during the years ended December 31, 2016, the fair value was estimated at the date of grant using the Black-Scholes option-pricing model based on the exercise price of the award and other assumptions relating to expected dividend yield, expected stock price volatility, risk-free interest rate, and expected life of options granted which were as follows:



		December 31, 2016
Expected stock price volatility		79%
Risk-free interest rate		2%
Expected life of options (years)		5
Expected dividend yield		—
Discount for lack of marketability		35%

Schedule of Share-based Compensation, Stock Options, Activity

A summary of stock option and restricted stock activity as of and for the years ended December 31, 2016 and 2015, is presented below:



	Stock Options							Restricted Stock
	Shares		Exercise Price Per Share (*)		Remaining Contractual Term (*) (in years)	Aggregate Intrinsic Value (in millions)		Time-Based Restricted Shares
Outstanding at December 31, 2014	766,667		$	9.43	6.7	$	—	1,100,000
Granted	—		—		—	—		761,512
Exercised or vested	—		—		—	—		(296,512	)
Forfeited or expired	(65,000	)	—		—	—		—
Outstanding at December 31, 2015	701,667		6.21		3.8	—		1,565,000
Granted	324,500		—		—	—		86,207
Exercised or vested	—		—		—	—		(385,143	)
Forfeited or expired	(87,500	)	—		—	—		(76,608	)
Outstanding at December 31, 2016	938,667		$	6.10	3.1	$	—	1,189,456

*Weighted-average

Schedule of Earnings Per Share, Basic and Diluted

The following table presents a reconciliation of net loss to net loss attributable to common shareholders used in the basic and diluted earnings per share calculations December 31, 2016 and 2015, (amounts in thousands, except for per share data):



	For the Years Ended December 31,
	2016			2015
Earnings allocable to common shares:
Numerator - Loss Attributable to Common Shareholders:
Net loss	$	(7,717	)	$	(13,743	)
Net income attributable to noncontrolling interest	117			(715		)
Preferred dividends - cash and deemed	(4,651		)	(4,449		)
Net loss attributable to common shareholders	$	(12,251	)	$	(18,907	)
Denominator - Weighted average shares:
Weighted average common shares outstanding for basic and diluted earnings per common share	15,916,325			15,328,546
Basic and diluted earnings per common share:
Net loss per share	$	(0.48	)	$	(0.90	)
Noncontrolling interest income per share	0.01			(0.05		)
Preferred dividends per share	(0.29		)	(0.29		)
Net loss attributable to common shareholders per share	$	(0.77	)	$	(1.23	)

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The following securities were not included in the computation of diluted net loss per share as their effect would have been anti-dilutive (presented on a weighted average balance):



	For the Years Ended December 31,
	2016	2015
Options to purchase common stock	953,847	720,092
Restricted stock	898,314	1,454,272
Warrants to purchase common stock	2,000,000	2,000,000
Convertible preferred stock	8,200,000	8,200,000
Total	12,052,161	12,374,364