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EARNINGS PER SHARE (Tables)
 9 Months Ended
Sep. 30, 2015
Earnings Per Share [Abstract]  
Schedule of reconciliation of basic and diluted earnings per share
The following is a reconciliation of the numerator and denominator for basic and diluted earnings per share for the nine months ended September 30, 2015 and 2014: 

 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
 
2015
 
2014
 
2015
 
2014
Basic Earnings per Share
 
 
 
 
 
 
 
 
Numerator:
 
 
 
 
 
 
 
 
Net income available to common shareholders
 
$
(2,972,571
)
 
$
(1,929,370
)
 
$
(20,384,221
)
 
$
5,933,877

Denominator:
 
 
 
 
 
 

 
 

Weighted-average shares outstanding
 
28,198,701

 
25,151,660

 
28,165,427

 
23,077,914

Basic earnings per share
 
$
(0.11
)
 
$
(0.08
)
 
$
(0.72
)
 
$
0.26

 
 
 
 
 
 
 
 
 
Diluted Earnings per Share
 
 
 
 
 
 

 
 

Numerator:
 
 
 
 
 
 

 
 

Net income available to common shareholders
 
$
(2,972,571
)
 
$
(1,929,370
)
 
$
(20,384,221
)
 
$
5,933,877

Denominator:
 
 
 
 
 
 

 
 

Weighted-average shares outstanding
 
28,198,701

 
25,151,660

 
28,165,427

 
23,077,914

Effect of dilutive securities
 
 
 
 
 
 

 
 

Stock options and warrants
 
—

 
—

 
—

 
1,116,993

Preferred stock
 
—

 
—

 
—

 
630,419

Diluted weighted-average shares outstanding
 
28,198,701

 
25,151,660

 
28,165,427

 
24,825,326

Diluted earnings per share
 
$
(0.11
)
 
$
(0.08
)
 
$
(0.72
)
 
$
0.24