EARNINGS PER SHARE (Tables)

9 Months Ended

Sep. 30, 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 and nine months ended September 30, 2019 and September 30, 2018:

	Three Months Ended September 30, 2019				Three Months Ended September 30, 2018
Net income (loss)			$	2,157,748			$	4,353,026
Less dividends:
Common stock	$	1,776,575			$	1,421,260
Preferred stock	3,792				880,509
Deemed dividend on preferred stock related to redemption	—				—
			1,780,367				2,301,769
Undistributed earnings (deficit)			$	377,381			$	2,051,257

	Unvested Share-Based Payment Awards		Common Stock		Unvested Share-Based Payment Awards		Common Stock
Distributed earnings	$	0.08	$	0.08	$	0.06	$	0.06
Undistributed earnings (deficit)	0.01		0.01		0.09		0.09
Total	$	0.09	$	0.09	$	0.15	$	0.15

	Nine Months Ended September 30, 2019				Nine Months Ended September 30, 2018
Net income (loss)			$	5,026,685			$	(5,822,037)
Less dividends:
Common stock	$	5,211,286			$	5,156,936
Preferred stock	488,056				2,631,744
Deemed dividend on preferred stock related to redemption	3,093,028				—
			8,792,370				7,788,680
Undistributed earnings (deficit)			$	(3,765,685)			$	(13,610,717)

	Unvested Share-Based Payment Awards		Common Stock		Unvested Share-Based Payment Awards		Common Stock
Distributed earnings	$	0.22	$	0.22	$	0.22	$	0.22
Undistributed earnings (deficit)	—		(0.16)		—		(0.58)
Total	$	0.22	$	0.06	$	0.22	$	(0.36)