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EARNINGS PER SHARE (Tables)
 3 Months Ended
Mar. 31, 2019
Earnings Per Share [Abstract]  
Computation of Basic and Diluted Earnings Per Share
The following tables provide additional disclosure regarding the computation for the three months ended March 31, 2019 and March 31, 2018:
 
 
Three Months Ended March 31, 2019
 
Three Months Ended March 31, 2018
Net income (loss)
 
 
 
$
1,474,767

 
 
 
$
11,315,000

 
 
 
 
 
 
 
 
 
Less dividends:
 
 

 
 

 
 

 
 

Common stock
 
$
1,658,136

 
 

 
$
2,314,686

 
 

Preferred stock
 
480,472

 
 

 
880,509

 
 

Deemed dividend on preferred stock related to redemption
 
3,093,028

 
 
 
—

 
 
 
 
 

 
5,231,636

 
 

 
3,195,195

Undistributed earnings (deficit)
 
 
 
$
(3,756,869
)
 
 
 
$
8,119,805

 
 
Unvested Share-Based
Payment Awards
 
Common Stock
 
Unvested Share-Based
Payment Awards
 
Common Stock
Distributed earnings
 
$
0.07

 
$
0.07

 
$
0.10

 
$
0.10

Undistributed earnings (deficit)
 
(0.16
)
 
(0.16
)
 
0.35

 
0.35

Total
 
$
(0.09
)
 
$
(0.09
)
 
$
0.45

 
$
0.45