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

9 Months Ended

Sep. 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:

	Nine Months Ended September 30,						Three Months Ended September 30,
	2012			2011			2012		2011
INCOME PER SHARE -Basic
NET INCOME	$	7,285,932		$	21,544,549		$	388,729	$	4,417,241
Less: Preferred stock dividends	—			(22,500		)	—		(7,500		)
NET INCOME APPLICABLE TO
COMMON STOCK	$	7,285,932		$	21,522,049		$	388,729	$	4,409,741
WEIGHTED AVERAGE NUMBER OF
COMMON SHARES OUTSTANDING: Basic:	87,310,752			85,998,197			87,330,865		87,269,433
NET INCOME PER COMMON SHARE: Basic	$	0.08		$	0.25		$	—	$	0.05
INCOME PER SHARE -Diluted
NET INCOME APPLICABLE TO
COMMON STOCK	$	7,285,932		$	21,522,049		$	388,729	$	4,409,741
Add: Preferred stock dividends	—			22,500			—		—
Less: Fair value of stock warrants for dilutive warrants	(5,399,569		)	(2,790,337		)	—		(5,050,520		)
NET INCOME APPLICABLE TO
DILUTIVE COMMON STOCK	$	1,886,363		$	18,754,212		$	388,729	$	(640,779	)
WEIGHTED AVERAGE NUMBER OF
COMMON SHARES OUTSTANDING: Basic:	87,310,752			85,998,197			87,330,865		87,269,433
Effect of dilutive securities
Dilutive stock awards	1,012			1,503,743			72,362		—
Dilutive warrants	—			3,024,798			—		1,970,813
Dilutive preferred share conversions	1,139,600			2,034,972			1,139,600		—
	1,140,612			6,563,513			1,211,962		1,970,813
WEIGHTED AVERAGE NUMBER OF
COMMON SHARES OUTSTANDING - Diluted:	88,451,364			92,561,710			88,542,827		89,240,246
NET INCOME PER COMMON SHARE: Diluted	$	0.02		$	0.20		$	0.00	$	(0.01	)