Earnings Per Share

9 Months Ended

Sep. 30, 2016

Note 8 – Earnings Per Share:

Basic net income/(loss) per share of common stock is calculated by dividing net income/(loss) attributable to common stockholders by the weighted-average number of shares of common stock outstanding for the period. Diluted net income/(loss) per share of common stock is computed by giving effect to all potentially dilutive securities.

For the three and nine months ended September 30, 2016 and 2015, there were no adjustments between net income/(loss) and net loss attributable to common stockholders.

The potentially dilutive securities are as follows:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2016		2015		2016		2015
Service Period Stock Options		2,263,098		1,980,651		2,130,200		2,000,929
Restricted Stock Units		102,904		—		54,154		—
Warrants		61,117		61,117		61,117		61,117
Total		2,427,119		2,041,768		2,245,471		2,062,046

For the three months ended September 30, 2015, and nine months ended September 30, 2016 and September 30, 2015, diluted net loss per share of common stock is the same as basic net loss per share of common stock, due to the fact that potentially dilutive securities would have an antidilutive effect as the Company incurred a net loss during such periods.

For the three months ended September 30, 2016, diluted net income/(loss) per share of common stock is calculated as follows:

	Three Months Ended
	September 30,
	2016
Net Income Attributable to Common Stockholders	$	620,731

Weighted Average Common Shares Outstanding, Basic		33,717,676
Dilutive Effect of Stock-Based Awards:
Service Period Stock Options		381,953
Restricted Stock Units		49,283
Warrants		22,124
Weighted Average Common Shares Outstanding, Diluted		34,171,036

Basic Earnings per Share	$	0.02
Diluted Earnings per Share	$	0.02

For the three months ended September 30, 2016, there were 450,189 anti-dilutive service period stock options excluded from the diluted earnings per share calculation.