Income (Loss) Per Common and Potential Common Share (Tables)

6 Months Ended

Jun. 30, 2012

INCOME (LOSS) PER COMMON AND POTENTIAL COMMON SHARE [Abstract]

The calculation of basic and diluted income (loss) per common and common equivalent share

The calculation of basic and diluted income per common and common equivalent share is as follows:

	Six Months Ended June 30,						Three Months Ended June 30,
	2012			2011			2012			2011
INCOME PER SHARE -Basic
NET INCOME	$	6,897,203		$	17,127,308		$	1,942,810		$	18,314,195
Less: Preferred stock dividends	(15,000		)	(15,000		)	(7,500		)	(7,500		)
NET INCOME APPLICABLE TO
COMMON STOCK	$	6,882,203		$	17,112,308		$	1,935,310		$	18,306,695
WEIGHTED AVERAGE NUMBER OF
COMMON SHARES OUTSTANDING: Basic:	87,300,585			85,352,044			87,305,184			86,982,750
NET INCOME PER COMMON SHARE: Basic	$	0.08		$	0.20		$	0.02		$	0.21
INCOME PER SHARE -Diluted
NET INCOME APPLICABLE TO
COMMON STOCK	$	6,882,203		$	17,112,308		$	1,935,310		$	18,306,695
Add: Preferred stock dividends	—			15,000			—			7,500
Less: Fair value of stock warrants for dilutive warrants	(6,465,067		)	—			(205,700		)	(2,797,949		)
NET INCOME APPLICABLE TO
DILUTIVE COMMON STOCK	$	417,136		$	17,127,308		$	1,729,610		$	15,516,246
WEIGHTED AVERAGE NUMBER OF
COMMON SHARES OUTSTANDING: Basic:	87,300,585			85,352,044			87,305,184			86,982,750
Effect of dilutive securities
Dilutive stock awards	—			1,777,414			38,825			1,649,489
Dilutive warrants	—			577,859			—			5,840,869
Dilutive preferred share conversions	—			1,826,848			—			1,378,848
	—			4,182,121			38,825			8,869,206
WEIGHTED AVERAGE NUMBER OF
COMMON SHARES OUTSTANDING - Diluted:	87,300,585			89,534,165			87,344,009			95,851,956
NET INCOME PER COMMON SHARE: Diluted	$	0.00		$	0.19		$	0.02		$	0.16