EARNINGS PER SHARE (Tables)

9 Months Ended

Sep. 30, 2018

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 nine months ended September 30, 2018 and September 30, 2017:

	Three Months Ended September 30, 2018				Three Months Ended September 30, 2017
Net income (loss)			$	4,353,026			$	(4,256,337	)
Less dividends paid:
Common stock	$	1,421,260			$	3,320,889
Preferred stock	880,509				880,509
			2,301,769				4,201,398
Undistributed earnings (deficit)			$	2,051,257			$	(8,457,735	)

	Unvested Share-Based Payment Awards		Common Stock		Unvested Share-Based Payment Awards			Common Stock
Distributed earnings	$	0.06	$	0.06	$	0.15		$	0.15
Undistributed earnings (deficit)	0.09		0.09		(0.38		)	(0.38		)
Total	$	0.15	$	0.15	$	(0.23	)	$	(0.23	)

	Nine Months Ended September 30, 2018					Nine Months Ended September 30, 2017
Net income (loss)			$	(5,822,037	)			$	(4,183,767	)
Less dividends paid:
Common stock	$	5,156,936				$	8,582,666
Preferred stock	2,631,744					2,631,744
			7,788,680					11,214,410
Undistributed earnings (deficit)			$	(13,610,717	)			$	(15,398,177	)

	Unvested Share-Based Payment Awards			Common Stock			Unvested Share-Based Payment Awards			Common Stock
Distributed earnings	$	0.22		$	0.22		$	0.45		$	0.45
Undistributed earnings (deficit)	(0.58		)	(0.58		)	(0.80		)	(0.80		)
Total	$	(0.36	)	$	(0.36	)	$	(0.35	)	$	(0.35	)