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EARNINGS PER SHARE (Tables)
 3 Months Ended
Mar. 31, 2017
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 three months ended March 31, 2017 and 2016: 
 
Three Months Ended March 31,
 
2017
 
2016
Basic Earnings per Share
 
 
 
Numerator:
 
 
 
Net (loss) income available to common shareholders
$
(4,047,244
)
 
$
(2,163,774
)
Denominator:
 
 
 
Weighted-average shares outstanding
32,953,812

 
29,304,722

Basic earnings per share
$
(0.12
)
 
$
(0.07
)
 
 
 
 
Diluted Earnings per Share
 
 
 
Numerator:
 
 
 
Net (loss) income available to common shareholders
$
(4,047,244
)
 
$
(2,163,774
)
Denominator:
 
 
 
Weighted-average shares outstanding
32,953,812

 
29,304,722

Effect of dilutive securities
 
 
 
Stock options and warrants
—

 
—

Preferred Stock
—

 
—

Diluted weighted-average shares outstanding
32,953,812

 
29,304,722

Diluted earnings per share
$
(0.12
)
 
$
(0.07
)