XML 36 R24.htm IDEA: XBRL DOCUMENT v3.7.0.1
EARNINGS PER SHARE (Tables)
 6 Months Ended
Jun. 30, 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 and six months ended June 30, 2017 and 2016: 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2017
 
2016
 
2017
 
2016
Basic Earnings per Share
 
 
 
 
 
 
 
Numerator:
 
 
 
 
 
 
 
Net (loss) income available to common shareholders
$
(2,696,174
)
 
$
(6,331,864
)
 
$
(6,743,420
)
 
$
(8,495,639
)
Denominator:
 
 
 
 
 

 
 

Weighted-average shares outstanding
32,350,218

 
29,765,702

 
32,650,347

 
29,535,212

Basic earnings per share
$
(0.08
)
 
$
(0.21
)
 
$
(0.21
)
 
$
(0.29
)
 
 
 
 
 
 
 
 
Diluted Earnings per Share
 
 
 
 
 

 
 

Numerator:
 
 
 
 
 

 
 

Net (loss) income available to common shareholders
$
(2,696,174
)
 
$
(6,331,864
)
 
$
(6,743,420
)
 
$
(8,495,639
)
Denominator:
 
 
 
 
 

 
 

Weighted-average shares outstanding
32,350,218

 
29,765,702

 
32,650,347

 
29,535,212

Effect of dilutive securities
 
 
 
 
 

 
 

Stock options and warrants
—

 
—

 
—

 
—

Preferred Stock
—

 
—

 
—

 
—

Diluted weighted-average shares outstanding
32,350,218

 
29,765,702

 
32,650,347

 
29,535,212

Diluted earnings per share
$
(0.08
)
 
$
(0.21
)
 
$
(0.21
)
 
$
(0.29
)