11 EARNINGS (LOSS) PER SHARE

12 Months Ended

Dec. 31, 2016

Accounting Policies [Abstract]

EARNINGS (LOSS) PER SHARE

NOTE 11.       EARNINGS (LOSS) PER SHARE:

A reconciliation of net income and weighted average shares used in computing basic and diluted net income per share is as follows:

	Twelve Months Ended
	December 31,
	2016				2015
	(In thousands, except per share data)
Basic net income (loss) per share:
Net income (loss) applicable to common shares		$	(2,788,112	)		$	(814,075	)
Weighted average common shares outstanding			13,068,597				11,101,198
Basic net income (loss) per share of common stock		$	(0.21	)		$	(0.07	)
Diluted net income (loss) per share:
Net income (loss) applicable to common shares		$	(2,788,112	)		$	(814,075	)
Weighted average common shares outstanding			13,068,597				11,101,198
Dilutive effects of convertible debt, stock options and warrants			-				-
Weighted average common shares, assuming dilutive effect of stock options			13,068,597				11,101,198
Diluted net income (loss) per share of common stock		$	(0.21	)		$	(0.07	)

Share-based awards, inclusive of all grants made under the Company's equity plans, for which either the stock option exercise price or the fair value of the restricted share award exceeds the average market price over the period, have an anti-dilutive effect on earnings per share, and accordingly, are excluded from the diluted computations for all periods presented.

As of December 31, 2016, we had outstanding options to purchase 965,000 shares of the Company's common stock and restricted stock units for 590,869 shares of the Company's common stock, resulting in share-based awards for a total of 1,555,869 shares of our common stock, outstanding under the Plan leaving 444,131 share-based units available under the Plan. During the twelve months ended December 31, 2016, we granted our directors and employees options to purchase 762,700 shares of our common stock and restricted stock units for 590,869 shares of our common stock. As of December 31, 2016, aggregate grants under the Plan total 1,555,869 shares of our common stock.

Due to the Company's net loss, potential dilutive shares were not included in the calculation of diluted EPS on December 31, 2016, as it will have an antidilutive effect.