EARNINGS PER SHARE (Tables)

6 Months Ended

Jun. 30, 2017

Earnings Per Share [Abstract]

Computation of Basic and Diluted Earnings Per Share

The following tables provide additional disclosure regarding the computation for the three and six months ended June 30, 2017 and June 30, 2016:

	Three Months Ended June 30, 2017					Three Months Ended June 30, 2016
Net income (loss)			$	(2,296,571	)			$	(7,799,801	)
Less dividends paid:
Common stock	$	2,630,889				$	2,627,621
Preferred stock	870,726					870,726
			3,501,615					3,498,347
Undistributed earnings (deficit)			$	(5,798,186	)			$	(11,298,148	)

	Unvested Share-Based Payment Awards			Common Stock			Unvested Share-Based Payment Awards			Common Stock
Distributed earnings	$	0.15		$	0.15		$	0.18		$	0.18
Undistributed earnings (deficit)	(0.32		)	(0.32		)	(0.77		)	(0.77		)
Total	$	(0.17	)	$	(0.17	)	$	(0.59	)	$	(0.59	)

	Six Months Ended June 30, 2017					Six Months Ended June 30, 2016
Net income (loss)			$	72,570				$	(24,747,415	)
Less dividends paid:
Common stock	$	5,261,777				$	5,257,642
Preferred stock	1,751,235					1,751,235
			7,013,012					7,008,877
Undistributed earnings (deficit)			$	(6,940,442	)			$	(31,756,292	)

	Unvested Share-Based Payment Awards			Common Stock			Unvested Share-Based Payment Awards			Common Stock
Distributed earnings	$	0.30		$	0.30		$	0.36		$	0.36
Undistributed earnings (deficit)	(0.39		)	(0.39		)	(2.17		)	(2.17		)
Total	$	(0.09	)	$	(0.09	)	$	(1.81	)	$	(1.81	)