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Earnings Per Share
 9 Months Ended
Sep. 30, 2017
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings Per Share

Basic earnings per share ("EPS") is computed based on the weighted average number of shares of common stock outstanding. Diluted EPS is computed based on the weighted average number of common shares outstanding increased by dilutive common stock equivalents, attributable to stock option awards, restricted stock awards and the Series A redeemable convertible preferred stock outstanding.

The following represents the common stock equivalents that were excluded from the computation of diluted shares outstanding because their effect would have been anti-dilutive for the three and nine months ended September 30, 2017 and 2016:
 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
 
2017
 
2016
 
2017
 
2016
Stock options and restricted stock
 
2,309,950

 
6,677,895

 
2,786,418

 
6,677,895

Series A redeemable convertible preferred stock
 
8,781,516

 
8,781,516

 
8,781,516

 
8,781,516

Total anti-dilutive common stock equivalents
 
11,091,466

 
15,459,411

 
11,567,934

 
15,459,411



The following represents a reconciliation of the numerators and denominators of the basic and diluted EPS computation:  
 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,

 
2017
 
2016
 
2017
 
2016
Numerator
 
 
 
 
 
 
 
 
Net income (loss)
 
$
1,429,173

 
$
(1,976,173
)
 
$
(322,825
)
 
$
(9,807,667
)
Effects of Series A redeemable convertible preferred stock:
 
 

 
 

 
 

 
 

Less: Series A redeemable convertible preferred stock dividends
 
215,000

 
194,012

 
634,664

 
581,986

Less: Accretion to redemption value of Series A redeemable convertible preferred stock
 
—

 
178,619

 
—

 
513,269

Net income (loss) attributable to common stockholders
 
$
1,214,173

 
$
(2,348,804
)
 
$
(957,489
)
 
$
(10,902,922
)
Denominator
 
 

 
 

 
 

 
 

Weighted average basic shares outstanding
 
44,552,892

 
43,488,448

 
44,362,367

 
42,847,038

Effect of dilutive securities:
 
 

 
 

 
 

 
 

Stock options and restricted stock
 
901,468

 
—

 
—

 
—

Series A redeemable convertible preferred stock
 
8,781,516

 
—

 
—

 
—

Weighted average diluted shares outstanding
 
54,235,876

 
43,488,448

 
44,362,367

 
42,847,038

EPS
 
 

 
 

 
 

 
 

Basic net income (loss) per share attributable to common stockholders
 
$
0.03

 
$
(0.05
)
 
$
(0.02
)
 
$
(0.25
)
Diluted net income (loss) per share attributable to common stockholders
 
$
0.02

 
$
(0.05
)
 
$
(0.02
)
 
$
(0.25
)